Leslie Cain: Planning to downsize?

As we move through the different stages of life, most of us will at some point face the decision to downsize. While the thought of moving from a house that has become your beloved home can be extremely unsettling, there is a good chance that making a change will bring you new and exciting opportunities.

If you have decided that downsizing is your best option, it is wise to seek the guidance of real estate professionals and financial experts to assist you with your next move. In the meantime, here are six helpful tips:

Explore Different Housing Options

There are a variety of home types these days including single family, condominium and townhomes. There also are different types of communities to choose from — all-inclusive with practically every amenity you can think of, and other master-planned neighborhoods with shared facilities. Be sure and check into monthly association dues and determine what services are included and which ones are not.

Decide How Much Space You’ll Need

Be realistic about the space you will need. If your children are grown and out of the house, you most likely will be moving to a smaller house. Discuss which rooms you can downsize and which ones may need more space.

If You are Thinking of a New Area, Do Your Research

If you are moving to a new community, check out local services and amenities as well as access to local healthcare facilities, shopping and dining. Also, obtain up-to-date information regarding neighborhood safety.

Price Your Current Home to Sell

Partnering with an experienced Realtor increases your chances of selling your house promptly and for the best price possible.

Get Pre-Approved

It is always a good idea to get pre-approved. While real estate agents will show you homes without a pre-approval letter, they definitely prefer showing homes to buyers who possess a pre-approval letter.

Consider a 15-year Mortgage

If you can swing it, securing a 15-year mortgage (opposed to a 30-year one) would be a smart choice. It will be paid off quicker and can save you thousands.

Most importantly, try to have fun with the process. There is a good chance the transition will bring you a new circle of friends, more travel, and extra time for hobbies and relaxation.

For local homeowner information or to find a licensed real estate professional, contact the Sierra Nevada Realtors at 775-885-7200 or SierraNevadaRealtors.org. Sierra Nevada Realtors is the voice of real estate in Carson City and the surrounding areas. They are committed to building better communities throughout the region, and participating in the political process to protect the industry as well as private property rights.

Leslie Cain is president of Sierra Nevada Realtors and a Realtor with RE/MAX Realty Affiliates in Carson City. Leslie has been active in the real estate industry for nearly 14 years and is very passionate about the Northern Nevada community. She holds several certifications including Certified Residential Specialist (CRS), Accredited Buyer’s Representative (ABR), and Senior’s Real Estate Specialist (SRES). Leslie can be reached at Leslie@LeslieCain.com or 775-781-1386.