In the latest episode of Charlotte Today, Nancy Braun shares some tips on what to do when you’re thinking of downsizing.
It’s a common situation. As people get older and their children move out, their housing needs also change. It’s no surprise that many empty-nesters and baby boomers are deciding to downsize.
Selling a house to downsize has its own unique set of challenges. That’s why Nancy recommends decluttering and staging the home before putting it on the market. Over the years, people tend to accumulate so much stuff that when the time comes to sell the home, it can be daunting to manage everything.
Nancy talks about how she helps her clients in these situations by connecting them with different services to help them figure out what to do with their extra stuff.
She also discusses the different options available to buyers who want to sell their home but are hesitant because they haven't bought a new home. Nancy gives assurance that there are many creative solutions to seemingly insurmountable situations. Nancy also highlights the benefits that downsizing can bring like having the freedom and flexibility to do the things you always have wanted to do.
Looking for an experienced real estate team to help you determine what your home is worth? Nancy and her team at Showcase Realty know what it takes to get top dollar for your current home and negotiate the best deal on a new one. If you’re ready to downsize, call them today at (704) 997-3794.
Coleen: It's a stage of life that some of us dread and others look forward to: becoming an empty nester and one of the first things to consider is whether to downsize your home.
Eugene: Well this morning we welcome Nancy Braun with Showcase Realty to the show. Hello how are you doing today.
Nancy: Great, Good morning.
Coleen: This is something a lot of our viewers are facing you know when the kids are leaving the house they're going off to college or getting jobs that kind of thing. It might be time to consider downsizing.
Nancy: Actually people downsize quite a few times. They don't necessarily do it once, it's kind of in stages. So they might have bought the house with the children in mind and then they wanted to be in a certain school district or they wanted a big yard or they wanted a pool. And now the house might not fit their needs for their current situation.
Eugene: You know you said the very first thing you do is consider putting your house on the market.
Nancy: Yes. So it's declutter and get your homes in a staged condition. So you know we just live in our homes. We have pets and we have lots of stuff and especially when you're downsizing you’re accumulating a lot of stuff.
Eugene: So much junk.
Nancy: That's right. That's right. So that's one of the biggest challenges people kind of freeze and say “Well I have too much stuff what am I going to do with it?”
Coleen: And I think it's a daunting task for most people when they think “We've lived here for 20 years you want me to you know we have all this stuff” How do we manage that Nancy? I mean is it selling pieces of furniture? Is it donating?
Nancy: It's all above. It's all above. So there are, we can connect our clients with different services and help them figure out you know the three piles. Am I going to donate? Am I going to sell? Or am I going to keep? Or am I going to trash out? So we can do it and it's just one room at a time. And we work through that because people they don't want to necessarily move with their boxes that they moved with before that they never opened 10 years before.
Eugene: And what do you tell people who want to sell a home but they don't want to sell too quick because they don't know if they have another place to move to? That's a big fear among people.
Nancy: That is a big fear. So there are some financial situations where they might not have the cash to be able to buy. And it's a seller's market in this area. So there are some options they can do a home equity line and pull some money out of their home or they could even pull from their IRA. They have a 60 day grace period without the tax burden on them. And there's some other things that they can talk to their accountant about. And as far as pulling money out but I'm in a situation right now where I have a client that is buying a smaller home they're downsizing and the seller is downsizing another time and they're working it out together so one is getting access before they even close. So people work with each other. So it's not insurmountable. We can figure out a way to get from one step to the other without necessarily selling their house before they move into the other house.
Coleen: Yes don't let that be a deterrent.
Nancy: Right. I have a lot of creative options.
Coleen: I know she's a smart cookie. Yeah I know you do and your team works to make that happen. And when people are downsizing there are a lot of options to those adult active communities. Maybe it's a townhouse, townhome maybe it's a condo.
Nancy: Right. So their life has changed and they might want to be able to travel and not worry about keeping up with the landscaping and maintaining the home and being able to leave the home for a month and go on a cruise or a lot of my clients want to be in an amenities neighborhood so they can make friends. They might have bought a home with a huge lawn and they don't really know their neighbors and instead they want to be closer together so they can meet other people and have social activities and maybe go to the community pool and go do events and parties with their neighbors. So their life and their needs and their social world has changed and downsizing is a great opportunity rather being strangled by this big enormous house.
Coleen: Yes it makes so much sense if you're looking to downsize and want to buy or sell your home. Call Nancy at Showcase Realty. The number is 704-488-3109. Again 704-488-3109. You can also visit experthomehelp.com. Again the Web site is experthomehelp.com. And that's where you'll receive a free copy of Nancy's book. It's The Ultimate No Holds Barred Guide to Selling and Buying a Home in the Carolinas. So go there to receive a free copy of Nancy Braun's book. Thank you so much you're excellent at what you do.Nancy: Thank you so much.