Downsizing your Barrington home is a choice we will all face at some time. Do you keep the large family home so the grandkids have somewhere to come and stay, or do you reduce the square footage now. The most common reasons for downsizing are:
- As the kids move on to college or careers and leave the nest, bedrooms become vacant.
- The utility bills get to be unwarranted for a half empty home.
- The formal living and dining rooms never get used anymore.
- The maintenance is becoming too much, both physically and financially.
- You want to free up capital for traveling or a winter home in the sun.
Whatever the reason for considering a smaller home, the plan is usually to think about what you want for the new home before even considering putting yours on the market for sale. Some of you might decide it’s time to head to a warmer climate, especially if retirement is just around the corner. You’ll likely want to explore several options.
A Quick Look At The Selling Side of Downsizing Your Barrington Home
Before we jump into the buying side of downsizing, a short paragraph about the selling side is deserved.
One of the biggest issues of moving to a smaller space is what to keep, what to sell and what to donate or throw away.
Another big part of the process is to sell the existing home. Thinning out your belongings will help with the presentation of your home for sale. You may also have to start tackling that honey do list as well. Take a hard look at your home. Does it need painting, a new water heater, is it dated; etc. You can always ask us to stop by and give you some pointers.
Finally the question of “Do I have to sell first” will be something you need to answer, and to understand the process of selling and buying at the same time.
The key is to start your research and preparation early; it might be a bigger job than you realize. Ask a Barrington Realtor for help and read local market conditions.
The Buying Side of Downsizing Your Barrington Home
By now you’re plan is under way and I hope you have been looking at homes online. If you’ve decided to leave Barrington, we can help find an expert in your chosen area. If you are staying local we understand you’ll want to look at homes before you make that final commitment to the plan.
Viewing locations, home styles and sizes is all part of the decision making process. It’s a big step, we understand and are ready to help.
You might want to investigate your finance options when downsizing. Consult your financial advisers, accountant, bank manager, loan officer.
What Smaller Home Is Right For You?
- Consider your existing accommodation and square footage.
- Location may still of primary importance to your lifestyle and needs.
- Think about whether you want to give up a yard.
- How many bedrooms will you need and can rooms double up if used infrequently?
- What about cars and garages.
- Is an Active Adult community right for you?
- Is it time to consider a ranch for one level living?
- Are you ready to change property type. i.e. house to townhouse?
- Do you want to go less country and more urban?
- Do you feel the need for a complete change of scenery?
- Are you going to stay in Barrington or is it time to move south?
- Do you want move in ready or are you up for some renovations to get a deal?
- Do you still have kids at home, what do they need?
Well you get the idea. You need a road map to the success of a downsizing move. You need to spend some time thinking about it. That’s why I always say start the process early.
Let Us Help You Downsize Your Barrington Home
If you’ve decided to move to or stay in Barrington as part of your downsizing plans, we are here to help. We understand this is likely a much longer process than for other buyers, we’ll be by your side from start to finish, no pressure or pushiness guaranteed.
Contact Us To Start