When Downsizing Starts to Make Sense

Downsizing tends to start years before the sign goes up. The stairs get harder, the kids move out, or the yard eats every Saturday from April to October.

 

I'm Tim Desmarais, a Realtor in Lowell and Dracut with Keller Williams Success Realty. A lot of my clients are longtime owners getting ready for something smaller. Their first questions are nearly the same each time: what the house is worth, and how to time the move.

How much equity do you have?

If you bought 20 or 30 years ago, you may have more equity than you expect. You can put it toward a smaller home, a condo, a 55+ community or a cash purchase closer to family.

 

Start with two numbers: a realistic sale price, and what you'd keep after the mortgage payoff and closing costs. Get a free home value estimate and we'll work them out together.

What should you fix before selling?
 

Less than you think, in most cases. Find out what the house is worth as it stands before you spend a dollar on it.

 

Some houses need paint, cleanup and a few repairs. Others sell best as-is, and the next owner picks their own kitchen. One seller wrote that I gave them "excellent advice on which updates will provide the best ROI." Put your money where it comes back to you, and skip the rest.

Should you sell first or buy first?

Selling first tells you what you have to spend, but you need somewhere to go. Buying first means one move, though you may carry two houses for a while.

 

A short rent-back can bridge the gap: the buyer agrees to let you stay for a set time after closing. I negotiated one for a Pelham seller who stayed about a month, at no cost, while the builder finished their new home. My selling and buying at the same time page covers the other options.

Sorting a lifetime of belongings

For a lot of people, this part wears them out more than the sale. Start early, one room at a time, and decide what you'll keep, give to family, donate or sell. Local clean-out and estate-sale companies can take what's left. Ask me for names.

 

You don't need an empty house to list. Buyers need to see the rooms, so clear the clutter and leave enough furniture to show how each space works.

What about taxes?

Many longtime owners worry about capital gains. Under federal rules, if the home was your main residence for at least two of the last five years, you can usually exclude up to $250,000 of gain, or $500,000 for most married couples (IRS Publication 523). Your own situation may change that, so talk with a CPA before you list.

 

What sellers say

Real feedback from the people I'm proud to serve.

FAQ

When is the right time to downsize?

Downsize once the house stops fitting your life. Nobody can time prices with any reliability. Look at your equity, your next home, and your health and family plans. If you love your house and it still works for you, you may have no reason to move yet.

Should I sell my home as-is?

Can I stay in my house after it sells?

Thinking about downsizing in Lowell, Dracut or a nearby town?

You don't have to be ready to list to talk. Call or text me at 603-765-1965, or get your free, no-pressure home value estimate. Helping a parent move instead? See my senior moves page. For Dracut prices, see my Dracut page.

First Parish Meeting House, Tyngsborough