Downsizing

Define What You Want From Your Next Home

Before deciding what to do with your current home, consider what you want to gain from moving.

Would you like less maintenance? Fewer stairs? A smaller yard? A condominium or townhome? A single-level residence? A senior or active-adult community? Greater walkability? More opportunities to travel? A home closer to family, friends, shopping or medical services?

Downsizing does not necessarily mean choosing the smallest home possible. It means finding a home that is better suited to your current and future needs.

Lisa & Carrie begin by understanding your priorities so the real estate search can focus on properties and communities that genuinely fit your lifestyle.

Understand What Your Current Home Is Worth and Where You Will Go

For homeowners who have lived in the same property for many years, the home's current market value may be substantially different from what they expect.

Lisa & Carrie evaluate your home's potential value to help establish the financial framework for your next move and let you evaluate replacement-home options with confidence.

Lisa & Carrie help clients explore available housing and communities based on their priorities, budget and desired lifestyle.

For homeowners interested in age-qualified housing, Lisa & Carrie's Senior Real Estate resources include information about 55+ communities throughout the South Bay, including options in Torrance, Redondo Beach, Rancho Palos Verdes and Rolling Hills Estates.

You do not necessarily need to have your next home selected before beginning the downsizing process, but understanding your options can make decisions about belongings, furniture, timing and finances considerably easier.

Understand the Financial Considerations Before You Move

A downsizing decision may involve more than comparing the price of your current home with the price of a replacement property.

Homeowners may also want to consider property taxes, HOA fees, insurance, maintenance costs, potential capital gains, moving expenses and the cost of preparing the current home for sale.

For qualifying California homeowners age 55 and older, Proposition 19 may allow the taxable value of a primary residence to be transferred to a replacement primary residence anywhere in California, subject to specific eligibility, timing and valuation requirements.

The replacement residence may also have a higher market value than the original residence, although the difference in value can affect the transferred taxable value.

Lisa & Carrie can help clients consider Proposition 19 as part of the real estate strategy. Eligibility, property-tax calculations and other tax consequences should be confirmed with the appropriate county assessor, CPA or tax professional.

Create a Plan for Your Belongings

A longtime home can contain decades of belongings, and this is often the part of downsizing that feels most overwhelming.

You do not have to do everything at once.

Start with the items that will matter in your next home. From there, belongings can generally be organized into categories such as items to keep, give to family or friends, sell, donate, recycle or discard.

Some families choose to handle this themselves. Others benefit from professional assistance with organizing, estate sales, donations, hauling or clean-out services.

Lisa & Carrie can help coordinate appropriate resources when needed so the process does not become an obstacle to making the move.

Evaluate your Home Before Making Major Improvements

A longtime residence may need updating before it is sold—but that does not mean every improvement is worthwhile.

Before spending significant money on remodeling, Lisa & Carrie evaluate the property in its current condition.

Depending on the home and market, strategic improvements such as painting, flooring, landscaping, cleaning or selected repairs may improve buyer appeal and potential return. In other situations, selling the property largely as-is may make more financial and practical sense.

The objective is to identify improvements that are likely to add meaningful marketability or value while avoiding unnecessary projects, expense and disruption.

Prepare, Position & Market the Property

Once the strategy has been established, Lisa & Carrie help coordinate the real estate preparation needed to bring the home to market.

Depending on the property, this may include cleaning, hauling, landscaping, repairs, painting, inspections, staging and professional photography.

Lisa & Carrie then establish the pricing, positioning and marketing strategy based on the home's location, condition, competition and likely buyer.

Through Vista Sotheby's International Realty and the Sotheby's International Realty® network, the property benefits from sophisticated presentation and extensive local, national and global exposure.

Coordinate the Sale With Your Next Move

One of the greatest concerns surrounding downsizing is often:

How do I sell this home and move into another one without everything happening at once?

There is no single strategy that works for every homeowner.

Depending on finances, market conditions and available inventory, a plan may involve purchasing the replacement property first, selling the current home first, carefully coordinating both transactions, or negotiating contractual terms that provide additional time for the transition.

Lisa & Carrie evaluate the timing of both sides of the move together so the sale of the current home supports—not complicates—the next step.

Move & Begin Your Next Chapter

Once the transactions and moving plan are coordinated, Lisa & Carrie continue managing the real estate details through closing.

The goal is to make the transition as organized as possible while allowing you to focus on settling into your next home and enjoying what comes next.