Whether the kids have moved out, retirement is calling, or you’re just ready for less space and more freedom, downsizing can be a smart move. It’s not always as simple as getting rid of extra belongings and moving into a smaller space. So, here’s some expert advice about selling a house to downsize from Alan at Pyramid Properties.
We buy houses in Memphis, TN, and know what it takes to make downsizing go smoothly.
1. Be Clear About Why You’re Downsizing
Before listing your house, take a moment to think about what’s motivating you. Are you looking to transition to a smaller place to reduce maintenance, or dreaming about a retirement relocation? Maybe you want to free up cash through a home equity release.
A clear “why” will help guide your decisions. That way, you can make the best calls about everything from the asking price to what items to keep.
2. Understand Your Home’s Value
If you’ve owned your home for a while, chances are it’s increased in value. That equity could make a big difference to your next step.
Selling a house to downsize often means you’ll pocket the difference. Work out your current home’s sale price and the cost of your new one right from the start.
3. Create a Budget Before You List
A smaller home usually costs less, but don’t assume it’ll be cheap. Depending on where you’re moving, prices might surprise you.
When selling to downsize, factor in your moving costs, closing costs, and any updates you want to make to your new place. You should walk away with enough cash to cover those plans for a smooth transition.
4. Prepare Your Home To Sell (But Don’t Overdo It)
One thing to note about selling a house to downsize is that you don’t need to spend a fortune on upgrades. Declutter, deep clean, and fix the small stuff.
The goal is to help buyers picture themselves living there, not sink money into projects you won’t see a return on. Simplifying your space also makes packing up easier.
5. Think About Your Lifestyle, Not Just Square Footage
A smaller home transition may sound appealing when considering responsibilities like cleaning and maintenance. Does it suit your lifestyle, though? Do you still need space for guests, a home office, or hobbies?
Downsizing your home isn’t just about cutting square footage; simplifying lifestyles doesn’t mean you have to sacrifice the things you love.
6. Work With People You Trust
Finally, remember that selling a house to downsize is a big step emotionally and financially. Whether you’re just starting to think about selling a house to downsize or are facing a job relocation and need to sell quickly, having the right people in your corner makes a difference.
Ready To Take the Next Step and Sell?
Professional home buyers like Alan at Pyramid Properties specialize in helping Memphis homeowners navigate these kinds of transitions.
Eliminate the work and stress that comes with listing, negotiating, and closing by working with someone who can help you figure out the best path forward! Reach out to Alan of Pyramid Properties today at 901-504-5555.