Before committing to the idea of selling, get a realistic view of the likely selling price with a few real estate agents, and consider having the house appraised. The decision to sell requires totaling all of the costs associated with moving to see if it makes sense. Will the new home have higher or lower utilities, for example? Will the new home have greater or less commuting or travel costs to visit loved ones, run errands, or getting to work? Consider insurance expenses, property taxes, HOA dues, and expenses before moving.
As you age, your health will become a determining factor in all decisions. If you or your spouse have mobility problems, a two-story home probably is not the best place to live. You can make accessibility accommodations, but the costs could be high. If you are younger and thinking about aging parents or looking ahead to being one , you could consider a home makeover upgrade using what is called universal design standards—designed for people in all stages of life, including those with disabilities.
This will allow you to stay in your home for as long as you would like without having to make modifications for your later years. If you are not sure what to do, there is some middle ground to explore. Instead of selling, you could rent your home and move into something smaller, using the rental proceeds and banking the extra money. Always consider the alternative of leasing your home to good renters who will pay a premium for your asset.
This allows you to be flexible with your retirement lifestyle. However, even with the additional expense of a management company, it may still be better than paying selling costs, and you can continue to cash in on the rising value of your home.
Research local ordinances concerning roommates, not just whether you can have one in your neighborhood, but what to do if you cannot evict one. If you have paid off your home, trying to hold onto it without burdening yourself makes sense. However, sometimes selling is the best idea. If you plan to travel, you may only need a small place to call home.
If you need extensive, ongoing medical care that your local or regional hospital cannot support, relocating might be advised. If you love your home and all the memories it holds, you might decide to stay even when it does not make financial sense. The decision is a personal one. However, market conditions may dictate what you do, so it would be a good idea to get professional advice. If you have the cash, you could buy first then put your property on the market. If you want access to more green space, while being in easy reach of the facilities in a town, Wimbledon might be the place.
With homes of all sizes, plus a choice of apartments in stunning new developments, there are many options for downsizers. Call us now for advice and help finding your perfect property. Nick joined Robert Holmes to inject fresh ideas and help grow the New Homes department of Robert Holmes as well as helping to inject technology into the business and to grow its client base.
Together with one of the Directors Nick is in charge of all Development opportunities that Robert Holmes deals with along with sales. Aged 40, he provides succession together with the two existing directors. Nick has always been focused on building client relationships and sales.
He built up his own gallery in Chelsea, where he had a loyal following of customers and artists. Wimbledon Office. Coombe Office. Free Instant Valuation Get your property's sale and rental price online now. Can I afford to buy a home? Should I sell my home before buying a new one? How to buy and sell at the same time The hidden costs of buying and owning a home What is gazumping and how to avoid it Rightmove, Zoopla and the rest: which is best?
See more advice guides How to finance your new home How much can I afford? Do I need a mortgage broker? Gifted deposits explained What type of mortgage should I get? How long does it take to get a mortgage? Mortgage agreement in principle Remortgaging Mortgages for the over 50s See more advice guides Buying a new build home Buying a new build home - problems and top tips How to choose the best new home builder New build homes and getting a mortgage New build conveyancing process explained How to fix problems in your new build home Do I need a snagging list for my new build home?
What not to forget when viewing a property Should I use a Buying Agent? How can I get estate agents on side? Making an offer and haggling over the price Clever questions to ask the estate agent How long does it take to buy and sell a home Sealed bids explained See more advice guides Getting a survey What sort of survey should I have? How much does a survey cost? Do this early and schedule pick-up times at least a week or two in advance of your move, depending on how often you use the item in your current space.
When the time is right, you can pass on that gift and they can purchase something for their home that they really need. Some additional ways to memorialize items and memories include:. There are so many different ways to organize your memories. You could create chronological, categorical or any number of different photo books, whatever makes the most sense to you.
There are plenty of online marketplaces that make selling online easy, like eBay, Craigslist, OfferUp, LetGo and more. Some nonprofits and charities that accept and will pick-up home items and clothing include:.
Take the time to leave your space more organized than you found it. Not only will it improve your current day-to-day, but it will also make packing much easier. Organize smaller items in your drawers by using trays and boxes — these will transfer easily from your current home to moving boxes to their new place in your home.
Papers and files can really build up over the years so get your shredder out and get ready to thin out your filing cabinet. Get rid of statements or documents that you have online access to and any tax-related paperwork past seven years old. Other documents can be scanned and organized in neat digital files. For example:. Buying and selling at the same time can be a lot to handle.
You could first put out feelers to your particularly organized friends and family but try to not make it feel like an obligation. If they do agree to help out, make sure you thank them properly.
If you have a hard time getting and staying organized or letting go of items, a professional organizer could be well-worth your money. To make that happen, that might mean getting a smaller, more manageable and more accessible property. Invite your kids or grandkids to help you sort through items. Tell your stories and encourage them to ask questions.
Understand that any item you gift may end up donated or given away. Also remember that while your family loves you dearly, they may not have space for your things.
Consider accessibility and safety as you sort. While you reminisce, take the time to add details, names and dates to photos and to labels on family heirlooms. It will be more fun for guests when they peruse your albums and easier to know who is who and what came from where when you eventually pass those items down.
We all have those family recipes that we look forward to during the holidays and one of the best gifts you can give is passing down traditions.
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