Is it time to downsize? If you’ve been considering downsizing, now might be the perfect time. There isn’t enough inventory in Williamsburg – or anywhere else in the country, for that matter – to meet the demand for houses. It’s a seller’s market, so prospective buyers are doing crazy things: making all cash offers, offering well over asking price, and even paying closing costs (sometimes, paying the seller’s closing costs, too)!
A lot of people have way more house than they need. We tend to buy houses when our children are young, raise them, and then suddenly look around at 3000 extra square feet we never use. Once the kids are gone, who needs 4 or 5 bedrooms? Who needs 3 or 4 bathrooms? Who needs all those floors to clean, all those stairs, or all that extra furniture no one ever uses?
A house can also be enormously sentimental, so making the decision to downsize is one that you shouldn’t take lightly. Still, the market is strong enough – and house prices are high enough – that it’s worth considering.
Is it time to downsize? Am I ready?
It’s a highly individual question and it really depends on you! There is no ‘one size fits all’ solution when it comes to downsizing, but it’s worth considering what’s important to you.
There’s definitely a sweet spot when it comes to the size house you need and a delicate balance in finding the right assortment of amenities. Maybe you’d be happier in a golf community? Somewhere with a pool? An association with little to no yardwork or landscaping necessary on your part?
Maybe mobility issues mean that you need to consider a place with fewer stairs, handicap accessibility (like wider doors and walk in showers), or proximity to family or friends.
Ultimately, only you can really tell whether you are really ready to downsize.
I’m not ready for a retirement community.
No one said you had to go from your family home straight to a retirement community! You don’t have to go to a retirement community or a nursing home at all, if you don’t want to!
Williamsburg is unique and has plenty of options for the type of downsizing that suits you best. There are lots of different communities with different types of homes available; single family homes, condos, and villas. Within the communities themselves, there are homes with different amenities, too. Some things clients have taken into consideration when making this decision are:
- Proximity to a pool, a golf course, tennis, and walking paths or trails
- A nearby boat slip for a yacht, skiff, or sailboat
- A gym or fitness center
- Limited yardwork responsibilities
- Community activities, from poker nights to craft sessions to group exercises like yoga or Tai Chi
Williamsburg is conveniently located, with opportunities for shopping, recreation, and top notch professional services. Some neighborhoods, like Kingsmill, specialize in activities for residents. Whether you need to be near a great doctor, a trusted attorney, a wealth management specialist or more you’re likely to find it within a very short drive of your new Williamsburg home.
How can I begin to prepare to downsize?
Moving always feels overwhelming. You’re right to ask the questions now, to make sure that the process runs smoothly.
Like with any other move it’s a good idea to take care of minor repairs around the house first. Keep in mind that most buyers will tour your home online before they even schedule a showing, so you’ll want it to be professionally photographed, staged tastefully, and full of curb appeal. Making sure that the lawn and garden beds are maintained is important. Working with a REALTOR® with extensive knowledge of the Williamsburg market can help you prepare your home for sale and select your next home.
Decluttering is going to be important, too, when considering downsizing. If you have grown children, you may want to pass down some items to them now. It can be hard to make decisions about what you’ll keep and what you’ll pass on, so you may prefer to even get a storage unit for a short period of time – especially if you don’t yet know where you’ll move. Decluttering can help you stage the home with fewer pieces, too.
A REALTOR® can help you prioritize which repairs to make in advance, set you up with a professional photographer, and make decisions about staging.
Bigger is not always better – especially when it comes to your home!
- If you’re not using the space but you’re paying to heat and air condition it
- If you’re spending time cleaning it (instead of enjoying your time!)
- If you’re paying the taxes on it
….then your house is not working for you, it’s working against you! Maintenance, improvements, and yard work can easily become too much, and it may be time to consider the lifestyle gains you could have by living somewhere smaller and more manageable.
Is Downsizing For Us?
Downsizing is definitely a big decision and you probably feel some pretty strong emotional ties to the place you’ve called home all these years. Not only that, but you may worry that – in today’s market – it’ll be hard to find somewhere else to live.
Your feelings and your fears are both justified. Still, as a seller, there’s also a lot to potentially be gained by selling now rather than later. It doesn’t look like this is a bubble like in 2008, but chances are there will be some dips over time. There’s no question that right at this moment property values are pretty high and, if you’re at or near retirement age, that extra capital would be nice to have on hand.
If you’d like to get a little bit more information about your current home, find out about different housing options available to you in Williamsburg, or come up with a plan for how to move forward, give me a call at 240-381-5596 or fill out this simple form to start a conversation. I’m happy to help!
Coastal Towne Realty
