Thinking of Downsizing? How about Resizing?
Well, you finally did it. You got the kids out the door and off to college or their first apartment. Now what? The old family home doesn’t feel quite right anymore. You still need space, but not the same space. Instead of downsizing, how about
Resizing can take many different forms. You might still want a place for the kids to come visit, but you need space for your own pursuits, like a music room, an art studio, or a place for your home business. Perhaps you would like a space you could rent out for a long-term or short-term basis to bring in extra income. Whatever ideas might be brewing there are lots of great investment opportunities just waiting to be explored!
One great option would be to trade that beautiful 2-story family craftsman for a Mid-century home. They are often ideal for Resizing because many have a full basement with a second family room, wet bar, bedrooms and bathrooms. You can live on the main level and leave the lower level for business and/or hobby pursuits or create that rentable suite to add to your monthly income.
Perhaps you are wanting to “age in place” in your new home. There are several types of homes that can provide at least one bedroom on the main level with living, dining, kitchen and bath so that you can avoid having to negotiate stairs as you get older. Ideally with few or no stairs leading into the house.
Resizing could also mean trading in your family home for two less expensive properties. Maybe you want to move a bit farther out for that awesome view property or a place on one of the islands, but still have an in-city crash pad for those occasions when you want to attend an evening event in the city. Or conversely, you could downsize to a condo in the city that you can “lock and leave” and use the remaining proceeds for a vacation get-away.
The Seattle area market has cooled from the sizzling seller’s market of the last few years to a market that is much more balanced. Good homes priced well still sell quickly, but it’s also a great time to buy. Interest rates are low, there is more inventory, and sellers are often willing to negotiate.
If you are wondering if any of these scenarios might be in your future, please don’t hesitate to reach out. We are always available if you want to chat about possibilities. Helping people find their perfect home is our passion - we’d love to help you find yours!