DOWNSIZING KEEPS A MAN BUSY

[Honest Samuel]

The quickest way to downsize is to NOT accumulate a pile of junk to begin with.

It that what you wive been telling you for years?

 

[SusanMN]

It?s a crazy market so be sure to buy before you put your house on the market. The secret to downsizing is to keep what you use, love and have space for and be brutal about tossing the rest. But I wouldn?t do that until you know what size your new home will be.

 

[Megalodon]

Recently rid of 600+ magazines. Guitar player, Auto Restorer, Hemmings muscle, Backyard Chickens, Mother Earth…many more all pristine, and free! Craigslist, set ‘em at the end of the drive. Old push mower, don?t care to mess wit it. End of drive, 2 of ?em, gone! Any other junk? Don?t pay to get rid, do it free!

Thoreau wrote "We don't own our possessions - they own us" (maybe in Walden?).

 

[Megalodon]

Although I suggested buying the new house first, then selling the old homestead, I realize this is incredibly difficult today with all-cash sales, selling prices 10-25% over list price, no contingency as-is contracts, perhaps consider backing up a bit to make sure you really want to move. When I retired 4 years ago, I found a great place at one of my dream locations - Westport Point, MA. Cheaper taxes than MD, a short walk to the beach, and familiar surroundings. Priced right 4 years ago at 320K, I was worried about flood insurance and sea level rise, so passed. Two years later, it doubled in value to 640K, and again doubled to 1.3M in value today. In hindsight, it was a steal at 320K and will never return to that level.

Did we miss out? Not really. Three years ago, our grandson was born and he has been a joy. He lives 12 minutes away. My wife of 40 years babysits him 2 long days a week and one short day. I'm lucky she doesn't have to choose between him and me.

So I think the first step is to make sure you really want to move and consider what/who you might leave behind.

 

[Truth]

Yes. Its even more of a no-brainer for a re-fi.

In some places where prices have doubled every 2 to 3 years, and sellers are selling cash only, it may not be possible. Its daunting for young first-time buyers where the tear-downs on tiny lots sell for 750K cash.

Its so crazy out there now, if I wanted another place, I'd be looking at good higher elevation land with utilities and buy a nice factory built modular house, built indoors with minimal waste of expensive lumber, that could be put on my foundation right off the truck. People are not generally aware of the quality available for houses made in factories under controlled conditions today.

It?s funny because being a loan officer we were all making a good living but we all knew one day it was all going to end I mean how much longer can you make a 1200 square-foot home in California 2.6 million

 

[Megalodon]

It?s funny because being a loan officer we were all making a good living but we all knew one day it was all going to end I mean how much longer can you make a 1200 square-foot home in California 2.6 million

Yup - until the owners rode the bubble all the way up, cashed out, and now contribute to bubbles elsewhere. Many all-cash buyers, buying just from reddit pics, are driving Portland and Seattle prices to CA levels.

 

[Peyton Manning]

Got us a realtor today
August fifth we put the house on the market
Hope it pays off in this sellers market

 

[Megalodon]

Good luck. Expect it will sell in a day for far more than list price for all cash. Unless it is on fire or under flood water.

 

[Peyton Manning]

Thanks, I hope you are correct
If so I’ll be getting in some beach detecting this year