Many people who would have downsized over the past few years had their plans delayed by the pandemic and the market. Things have finally settled down and we want to share seven reasons why we think right now is the perfect time to move.
THE MARKET HAS SETTLED DOWN
Shopping for a home during the housing frenzy was intense and choices were limited. Especially when contemplating a downsize, most people need a little more time to properly evaluate options and make an informed decision. Now there are more choices in the marketplace, there is more time for analysis, and most buyers are not having to engage in aggressive bidding wars — which causes added stress.
NEW BUILDS ARE AN OPTION ONCE AGAIN
Very often our clients, who downsize, seek homes that are new so they have less maintenance to worry about. New homes were scarcely an option over the past year with ridiculous lotteries and waiting lists. Now the builders are finally catching up and new builds are a viable option once again. We are even seeing some builder incentives again.
THERE IS NOT AS MUCH COMPETITION IN THE FALL
Typically, the last quarter of the year is the slowest time in Valley real estate, which makes it a great time of year to buy. If you look to downsize in the spring, you will be competing with more winter visitors and relocation traffic
THE WEATHER
It is not fun to move when it is 110 degrees outside, so, if you have the choice, move when the weather is great. October and November are great months to move and settle in before the holidays. Because demand has slowed, you will also find it is easier and cheaper to hire movers.
FREE UP CAPITAL
Most of our sellers who are looking to downsize have been in their homes for at least a decade and have accumulated a fair amount of equity in their properties. A downsize frees up capital and opens more opportunities. This is particularly relevant in a time of rising costs.
SMALLER = FEWER COSTS
The larger the footprint, the greater the cost. A smaller house will help to reduce your annual maintenance and utility expenses. You will be surprised how much less stress you will feel when you no longer have a pool to maintain, have one less AC to take care of, one less bathroom to clean, and a smaller yard to water and manage.
LESS STRESS
The entire point of a downsize is to simplify your life and trade stress for joy. Having less to worry about frees up time, energy, and resources for hobbies, travel, activities, friends, and more. Every month we are helping our clients to rightsize and it is such a joy to see the relief and excitement that comes as they shed stress and move on to their next home. We specialize in helping our clients manage all
the details of a transition and we really understand the downsize options that are available in the market. Let us help you simplify the process with our experience and expertise. Call us today for a complimentary chat. John and Natascha Karadsheh are co-owners of KOR Properties, a boutique real estate brokerage serving the Valley of the Sun.
John is the Designated Broker of KOR Properties and has been a Multi-Million Dollar producing agent for over 20 years. He is an Accredited Buyers Representative (ABR) and Certified Residential Specialist (CRS), and serves on the Arizona Regional MLS (ARMLS) Rules & Policies Committee, ARMLS Appeals Committee, and the West and Southeast Realtors of the Valley Professional Standards Committee.
Natascha is a Multi-Million Dollar Producer and Accredited Buyers Representative (ABR). She is the Founder of Mesa Food Truck Fridays, a Member and Past-Chair of the City of Mesa Economic Development Advisory Board, and on the Board of Directors of the Greater Phoenix Economic Council.