Thinking About Downsizing? A Guide for Homeowners 50+

Maybe the kids have moved out. Maybe you're tired of maintaining rooms you rarely use, mowing a large yard or worrying about the next big home repair.

Or maybe nothing is wrong with your current home at all.

You're simply starting to wonder:

Would something smaller make life easier?

Downsizing doesn't necessarily mean giving something up. For many homeowners, it means choosing a home—and a lifestyle—that better fits the way they want to live now.

I'm Joanne Dal Santo, REALTOR®, SRES®, licensed in Illinois and Indiana, and I help homeowners explore these decisions without assuming that selling is automatically the right answer.

How Do I Know When It's Time to Downsize?

There isn't a certain age or moment when someone "should" downsize.

Instead, consider how your current home fits your life today.

Are there rooms you rarely use? Has maintaining the yard become more work than enjoyment? Are stairs becoming inconvenient? Would you rather spend your time and money traveling, enjoying hobbies or visiting family than maintaining a larger home?

Sometimes the answer is still, "I love my home and I'm staying."

That's perfectly fine.

The purpose of exploring your options isn't to convince you to move. It's to help you determine whether another type of home might make your life easier or more enjoyable.

Where Would I Go?

This is often the first question—and sometimes the reason homeowners postpone the entire conversation.

Your next home could be:

• A smaller single-family home

• A ranch with fewer stairs

• A townhome or condominium

• A maintenance-free community

• A 55+ community

• A home closer to children or grandchildren

• A move from Illinois to Northwest Indiana

• Or simply a different home that better fits your lifestyle

You don't have to know the answer before we start looking at possibilities.

Should I Buy First or Sell First?

That depends on your finances, current home's value, comfort level and the availability of the type of home you want next.

Some homeowners need proceeds from their current home to purchase their next one. Others prefer to secure their next home before putting their longtime home on the market.

Because I'm licensed in both Illinois and Indiana, I can also help coordinate the process when selling on one side of the state line and purchasing on the other.

We'll look at the entire picture before deciding on a strategy.

What Could My Current Home Be Worth?

This is an important piece of the downsizing puzzle.

If you've owned your home for many years, you may have accumulated significant equity. Understanding approximately what your home could sell for can help you determine what options may be available for your next move.

Online estimates are only a starting point.

I can prepare a personalized market analysis based on recent sales, current competition, your home's condition, updates, location and other characteristics that an automated estimate may not recognize.

And finding out what your home may be worth doesn't mean you're committing to selling it.

Do I Need to Fix Everything Before I Sell?

Probably not.

Before replacing carpet, remodeling a kitchen or spending thousands of dollars preparing your home for the market, let's talk first.

Some improvements may help your home show better or appeal to more buyers. Others may provide very little return.

I'll walk through your home with you and help identify what I believe is worth addressing—and what may be perfectly fine just as it is.

What About Everything I've Accumulated?

For many longtime homeowners, downsizing the belongings feels more overwhelming than downsizing the house.

You don't have to tackle everything at once.

Start small and give yourself time. Family members may want certain pieces, some belongings can be donated or sold, and professional resources are available when additional help is needed.

The goal isn't to erase decades of memories. It's to decide which things you want to bring with you into what's next.

An SRES® Can Help

I am proud to have earned the Seniors Real Estate Specialist® (SRES®) designation through the National Association of REALTORS®.

The SRES® designation includes specialized education focused on the real estate needs of clients age 50+, including the financial, practical and lifestyle considerations that may accompany a move later in life.

I also hold the Seller Representative Specialist® (SRS®) and Accredited Buyer's Representative® (ABR®) designations, providing additional specialized education in representing both sellers and buyers.

That combination is especially helpful when your move involves selling one home while deciding where—and whether—to purchase another.

Maybe You're Just Thinking About It

That's actually a wonderful time to talk.

You don't need boxes packed. You don't need your closets cleaned out. And you certainly don't need to have your next home picked out.

Maybe you're thinking about moving six months from now.

Maybe it's two years from now.

Maybe you're simply curious.

We can start by talking about your home, your goals and what you want the next chapter to look like.

Sometimes the first step isn't listing your home.

It's simply understanding your options.

Joanne Dal Santo, REALTOR®, SRES®, SRS®, ABR®

You Can With Joanne!™

Licensed in Illinois & Indiana