Boston Real Estate for Sale

Boston Condos Downsizing

Boston condos downsizing All too often downsizing happens after a Boston homeowner ends up in a nursing home or after they die. As a homeowner getting up in years, I made the decision long ago that I would take responsibility for my own stuff, while I am still able to deal with it. (Most of it is junk)

I have less stuff now. For starters, I buy less items and I have gotten rid of many  that were stored. When I moved out of Lexington to Winchester I had to figure out what to do with all our stuff. Most of it ended up in our Winchester basement and some of it went to Salvation Army or Savers as a donation.

There was furniture that I was going to “upcycle”.  Clothing that for some reason I just couldn’t part with, as my waist line has expanded, I sold a few items. Gave items to family members who put them to use. I recycled a few items and as stated above donated items to charity.

Sometimes older Boston Beacon Hill condo owners decide to move. If you are over 55 and have lived in the same home for 20 years or more give yourself some time to thinks about downsizing. When the process is compressed due to an emergency we don’t always make the best choices. When we have time to think and plan the process goes much more smoothly.

We live in a society and culture where it is very easy to accumulate stuff and difficult to get rid of it. Some folks just toss it in the trash. That isn’t even as easy or inexpensive as it once was. Getting rid of stuff takes more time and planning than accumulating stuff ever did.

Preparing a Boston Beacon Hill condo for sale is all about cleaning and decluttering. Homeowners who plan ahead and allow enough time for both have a better and more stress free experience.

There comes a point in our lives when “stuff” is more of a burden than a blessing. And if you’re holding to clothes that you think you’re one day going to fit in, maybe you should watch this video:

Updated: Boston condo for sale website 2024

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Boston Condos Downsizing

Life events can have a major impact on what you need from your home, and retirement is one of the biggest changes many of us face. This period of your life can mean doing more of the things you enjoy, like traveling, visiting with loved ones, or taking on new hobbies. But what does that mean for your home?

If you’re looking for ways to focus more on the important things in your life, the answer could be downsizing. A recent article from The Balance talks about why it could be a great option, saying:

“There are many reasons to buy a smaller home—or to downsize from your present home—but sometimes, the idea that “less is more” is what propels homeowners to buy a smaller home.”

You Can Find the Right Boston Condo for Sale for Your Needs

The 2022 Home Buyers and Sellers Generational Trends from the National Association of Realtors (NAR) provides more information on why people of retirement age choose to move. It shows the need for a smaller home, the desire to be closer to loved ones, and retirement itself as three of the top reasons homebuyers over the age of 55 make a move.

If you’re in this group, changing priorities may be top of mind for you today, and that could be driving your decision to downsize. After all, as your lifestyle changes, what you need in your home likely changes, too.

Plus, as The Balance notes, moving into a smaller home can open your schedule up even more. When you downsize, you can spend less time maintaining your home and more time with the people you love or exploring newfound hobbies. That’s a recipe that can lead to less stress and increased happiness.

Your Equity in Your Home Can Make a Big Impact When You Downsize

Home equity plays a big role when you sell your existing house and move. It could be a great tool to use to help you downsize. According to the latest Homeowner Equity Insights report from CoreLogic, the average homeowner gained about $55,300 in equity over the past 12 months. Dr. Frank Nothaft, Chief Economist at CoreLogicexplains how important price appreciation and equity gains are for existing homeowners:

Home prices rose 18% during 2021 in the CoreLogic Home Price Index, the largest annual gain recorded in its 45-year history, generating a big increase in home equity wealth, . . . For low- and moderate-income homeowners, home equity has historically been a major source of wealth.”

As home prices rise, your equity does, too. So, you may have more equity than you realize because of the record levels of home price appreciation over the past year. Those equity gains could allow you to make a larger down payment on your next home. And putting more money down can lead to a smaller monthly mortgage payment, which can give you greater financial freedom. It can also be a significant help in navigating today’s competitive housing market, since offering more money up front could help your offer stand out.

Whatever your homeownership goals are, a trusted real estate advisor can help you to find the best option for your situation. They’ll help you sell your current home and guide you as you buy your next one and enter this new phase of life.

Boston Condos for Sale and the Bottom Line

If you’ve recently retired or plan to soon, your needs are likely changing. That means now may be the perfect time to downsize. Let’s connect so we can work together to find a home that matches your situation.

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Where is Ford Realty Located?

Ford Realty is located in 137 Charles Street in Beacon Hill

 

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