Once the kids are grown, have careers, relationships and get a place of their own, parents find that they may not need their “big” home like they did before. Their lifestyle may have changed and the house just doesn’t “fit” anymore.
Benefits of a smaller home:
Easier to maintain
Lower property taxes
More convenient location
Convenience of a single level
Possibly more energy efficient
Possibly lower maintenance
Moving from a larger home frees equity from the previous home that can be invested for retirement income, purchase a second home, travel, education or just to have a nest egg for unexpected expenses. The profit on the home, in most cases, will be tax-free up to the exclusion limits set by IRS.
There will be expenses involved in selling a home as well as the purchase of a new home. These will lower the amount of net proceeds available to invest in the new home.
Like any other big change in life, it is recommended that you take your time to consider the possible alternatives and outcomes. Your real estate professional can provide information that can be valuable in the discernment process such as what your home is worth, what you will net from a sale as well as alternative properties for your next stage in life.
Author:Lisa Hayden Phone: 941-730-3102 Dated: March 30th 2015 Views: 724 About Lisa: I am a Michigan native but call Sarasota “Home” for the last 8 plus years and have proven to be ...
View our latest blog posts in your RSS reader. Click here to access.
One sentence says it all: "Working from sign up till sign down...." We provide the best possible service to our clients with respect to buying or selling real estate, marketing, advertising, follow-up and negotiating the sale or purchase of your dream home.
Florida is well known for being the perfect retirement destination. Af
"While we didn’t win the recent big Powerball Jackpot, we definitely believe we won the real estate
agent lottery when we found Deidre DiTaranto. About six weeks ago we were trapped in frozen,
snowy Michigan. We’d had enough and decided to look for a place to buy in Florida. We looked on line,
but didn’t see anything we really liked. We saw DD’s name on one of the listing and followed up with
her. We told her what we were looking for and she suggested multiple listings in several locations for us
to review. We narrowed the list and DD set up a packed schedule for us to view them.
We met her in Florida, spent 2 days looking at the selections, found the one we loved, made
an offer, signed a contract and went back to Michigan. DD helped us through the steps we needed to
complete to be ready for the closing. We went back a week ago, met her for a final walk through, signed
the closing documents and moved in.
We attribute the success of this to DD’s hardwork, focused effort and attention to detail. It would not
have happened without her. Her professionalism makes it easy for us to give her our highest