Downsizing From Your Kelowna Properties? Read This First
If you’re thinking about downsizing from your Kelowna properties, consider these five helpful suggestions first.
There comes a time in everyone’s life when the thought of downsizing their Kelowna properties sounds appealing. Maybe the kids have finally flown the coop, or the landscaping and yard maintenance has become overwhelming. Whatever the reasons may be, there are a couple of the things you should seriously consider before downsizing.
1. Take Your Time
Downsizing is a big decision. It’s a change you’ll likely only make once in your life, so there’s no need to rush it. Find a real estate agent you trust, make a list of the things you absolutely must have in a new home, and take your time checking out new places.
Finding a new home that meets all the criteria on your list may take some time, but waiting to find it will help take away any negative feelings you may have about leaving your current home.
2. Determine Your Financial Future
Another major reason for downsizing is finances. Get well acquainted with your finances, especially with what they’ll look like in the coming months and years. If you’re ready to retire, but haven’t saved up as much as you had hoped, downsizing can help. By selling your current home and moving into something smaller, you can tuck away the profits from the sale of your house for your retirement.
If you’re having trouble sticking to your budget, check out our previous post for a little budget-friendly assistance: 8 Ways to Make Your Budget Stick: From a Kelowna Real Estate Team.
3. Examine the Real Estate Market
Do a little digging into the ebb and flow of the real estate market. Is now the right time to sell? Answer: Yes. Sales are up, and so are prices: The average MLS® residential price in Kelowna was up 13.4 per cent to $459,595 compared to April 2015. Interested in learning more? One of the professional sales agents at Quincy Vrecko & Associates would be happy to explain Kelowna’s current, and projected, real estate market trends.
4. Switch it up
You’ve heard the saying, “the grass is greener on the other side” before, but you’ve never really put a lot of thought into it. If your home is on an acreage, but you’ve always wondered what city life would be like, this might be a great chance to find out. The easy access to things like culture, medical care, and fantastic restaurants and shopping boutiques might help your transition into a smaller home go smoother than anticipated.
5. Make a Plan
Although staying in your current home may seem easier than packing everything up, that might not be the case. Think about things like the annual property tax and insurance, the maintenance required to keep the house in good shape, the frequent yard work in the summer, and the snow removal in the winter.
If you’re unable to take care of these things, is there someone in your family that can help? If not, you should probably consider downsizing your Kelowna properties sooner rather than later.
Are you ready to downsize your Kelowna properties now? Take advantage of years of experience and contact the Kelowna real estate experts at Quincy Vrecko & Associates. We’ll make sure you receive the best price for your home. Call 1-778-760-2860.
