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The advantages of downsizing

The advantages of downsizing

The collective consciousness of home sellers isn’t fully up to speed on the current reality of the Sunshine Coast real estate market. Our market has slowed considerably over the last year and what your home would have sold for 18 months ago isn’t what it’ll sell for today.

Sellers can expect to see lots of competition this spring, much of which will be overpriced. In this environment, pricing your home too high is a huge mistake. You need to price your home appropriately to get your listing in front of buyers.

Looking at comparable properties that have sold recently will help you set your home’s current value. Listings that have been on the market for over 60 days are considered stale dated and shouldn’t influence how you price your home.

There are many reasons you could be considering selling. One of which is downsizing.

The allure of moving into a smaller, more manageable, more affordable home is an increasingly popular concept, especially with parents of adult children.

If fewer rooms to clean and a smaller yard to maintain sound attractive, it might be time to consider downsizing. BC’s Sunshine Coast is a popular destination for retirees and seniors that are looking to downsize not only their home but also the community in which they live. There’s less traffic, less waiting in line, and a near complete lack of crime. As an added bonus, a smaller home with less maintenance provides a lot of flexibility should you want to travel.

The best time to downsize is before you have to.  Plan a couple of years out and make it a fun transition in your life. Including kids and extended family in decision making can help with decluttering and passing along family heirlooms. The story about what gives an item sentimental value can be as valuable to the recipient later in life than the item itself.

Buying a pre-sale or building a custom retirement home is a good option for those looking to downsize. There are several developments coming online on the Sunshine Coast, from Click Homes to condos, to subdivisions of ranchers on small lots, that cater to buyers who are not ready to downsize now, but will be in a couple of years.

If you are interested in learning more about projects or options for downsizing, call your realtor or local real estate office and ask them to put a list of options together for you to investigate at your own pace.

Tony Browton is an award-winning Realtor who lives and works on BC’s Sunshine Coast. 

His weekly blog can be found here

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