Movin’ on up – by movin’ down

When making major life changes – like downsizing a home – you want to minimize stress and mistakes as much as possible. Here are a few easy tips that make moving out a truly smooth move.

You may have to raise your standards

If you’re downsizing to a custom home, when walking through the model, remember that there’s a big difference between what comes “standard” and the upgrades you’re seeing. Those granite countertops and hardwood floors may cost extra if you want to put them in your home so always be sure to ask what constitutes a “standard” feature.

You still need to think about resale

Maybe your kids are grown, so the school system in the area isn’t as important to you as it once was. But you’d be foolish not to think it’s unimportant to future buyers. Your downsized home is still an asset (maybe even one you want to pass on to your children). So be sure to think about resale value, including features like location, number of bedrooms and property taxes.

Beware the hidden fees

Ah, no more shelling out money for a new lawn mower every few years or having to worry about replacing the siding on your downsized home. Right? Well, maybe. Even if you’re moving into a townhouse, co-op or other type of planned community, there will likely be HOA (Home Owner’s Association) fees that cover the aforesaid types of expenses.