Is It Time to Downsize Your Home in Los Angeles?

downsizing

If you’re raising a family in Los Angeles, it’s normal to want to purchase a home that can fit your family’s needs down the line – whether it be additional bedrooms for children you want to have or even room to care for aging parents.

But what if your kids are grown and have moved away? Or what if you feel overwhelmed by everything you have to take care of with your larger home? Or perhaps you just have a desire to live more simply?

There can be many reasons for wanting to downsize to a smaller home. Here are some things to keep in mind as you contemplate making the move.

Where will you go?

One of the first things you should ask yourself when you consider downsizing is where you will go. Sure you may own your home and will be able to use the money from the sale to buy your new place, but how far will those dollars stretch? If you’re contemplating a move to an urban center or to a market where real estate prices are considerably more expensive than where you are coming from, you may find that you can’t afford the lifestyle you’ve become accustomed to. Take time to understand the community you want to move to and where you may need to make compromises so that you can enjoy your time there.

What will you do with your stuff?

Most people tend to accumulate more and more stuff as they get older. When it finally comes time to sell and downsize some may feel overwhelmed having to manage everything during a move. Be sure to give yourself plenty of time to deal with your possessions and have a plan for what you’ll do with all the things you won’t take with you. Some ideas include donating items to friends and family who can use them, having a yard sale or selling items online. You may even make some extra money in the process.

How do you want to spend your time?

Is visiting your kids and grandkids your biggest priority? If so, you may want to have an extra room for overnight guests. Maybe you want to travel? That might mean you can sacrifice on space so you don’t have to worry about your house while you’re gone. Do you daydream about never mowing the lawn again? Condo living could be right up your alley. Is it important to you to have easy access to cultural events, shopping and restaurants? Then a home near a city center that is walkable or close to public transportation could be an option, or even a suburban town center that locates residential construction near all the needed amenities.

Ultimately, the decision to downsize is based on many factors, from wanting to be closer to family to the desire to spend less money on a mortgage, property taxes and insurance. If you think it may be time to downsize, a trusted real estate professional can help you determine what the best plan of action is for your specific needs.

Brought to you by Jerry & Rachel Hsieh

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About the Author

Is It Time to Downsize Your Home in Los Angeles?

Jerry and Rachel Hsieh

In the past 13 years in real estate and at the age of 38, Jerry has had the good fortune of experiencing all of this at some point and has established himself as one of the premiere AWARD WINNING Realtors in the industry. Jerry began his career at Coldwell Banker with incredible heat: He was named the top “rookie” agent his inaugural year with over $4.5 million dollars listed and/or sold (Most 1st year agents don’t complete any transactions). Since then, his real estate career has been non-stop and he has quickly become the realtor that other young realtors talks about. In 2010, in a down market, Jerry and Rachel sold 24 homes within a 1 mile radius of the Pico/Fairfax area. They have sold over 50 homes in the Picfair Area in the past 4 years, more than any other realtor. From 2011 until now, Jerry and Rachel’s Team has grown, as has Jerry’s experience and expertise.