Are You Ready to Downsize?
Posted by Jeff Sallan on
According to AARP, over the next 15 years Baby Boomers will be turning 65 at a rate of about 8,000 people per day. If you are in your 60s you may be considering retirement and right-sizing into a home that better fits your needs. Maybe you've found yourself in an empty nest. Or maybe you've decided that your current home is taking too much to maintain. Perhaps retirement is on the horizon and you want a home that better fits your lifestyle and retirement goals. Whatever your reasons are for downsizing, there are several things to consider before making the move.
Finances. Have you built up enough equity in your current home to make purchasing another home in the current market feasible? After you retire, you may be living on a fixed income. Working…
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If you're planning to sell your home, you may be considering hiring your own home inspector prior to listing your home. Most home buyers choose a home inspection. In fact, for many mortgages, a home inspection is a requirement. But as a home seller, is hiring a home inspector worth it?
If you love the Caughlin Ranch community in Reno, NV, but also want a brand new, custom built home, you're in luck. Pine Bluff, the newest community in Caughlin Ranch will be developed by HomeCrafters. Homes will be built on 1/3 acre lots and will range in size from 2,854 square feet to 4,316 square feet. Some plans will include a daylight basement. There are five home plans to choose from and all are customizable. Floor plans include open floor plans, bonus rooms, flex space, office space, and multi-generational suites.
According to the PEW Research Center, 19% of all Americans lived in multi-generational households in 2014. Typical multi-generational households include the homeowners, their adult children and their kids. This is up from a low of just 12% of the population living in a multi-generational home in 1980. Experts believe the increase is likely due to more ethnic minorities moving to America and a generation of young adults who came of age during the recession and recovery.
95% of all home sales since the beginning of the year in the Reno area have been in the under $600,000 price range. A whopping 57% of home sales have been in the under $300,000 price range. That leaves a lot more inventory in the luxury home market. Read more about the most recent local home sale statistics.