Real Estate Corner: Are You Ready to “Rightsize”?

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Posted on November 16, 2018 by Laura Lucky

For years, we’ve all heard of the housing concept of downsizing. Whether for financial reasons or because the kids have grown and moved into homes of their own, many homeowners make the decision to sell their property for a smaller, less expensive home.

However, there is a new trend emerging in real estate: not just of moving into a smaller or less expensive home, but in choosing a property that fits a changing lifestyle. It’s been coined as “rightsizing.”

Rightsizing has more to do about lifestyle, amenities and how homeowners would prefer to spend their time, than it does about buying “less.” In fact, many homeowners are rightsizing and buying a home in a similar price point to the one they’re selling. It’s not so much about buying down, but perhaps making a lateral move to a different type of lifestyle while keeping the same level of luxury appointments or finishes within their new property.

Do you find that your home requires more upkeep and maintenance than you’d like? Many find that moving to a smaller property, even a townhome or a condo, allows them more time to take on hobbies and other interests. The new ICON at Silverleaf offers luxurious, hassle-free living in its collection of 72 condominiums.

Would you prefer to live in an area that offers restaurants, shopping, bike paths and parks within walking distance? The luxury high-rise communities near Kierland Commons and Scottsdale Quarter allow residents to live in the heart of the action.

Are you at a stage in your life where you can divide your time between properties in different locales? Maybe you’d like to winter in Scottsdale and summer in Newport. Have you considered trading your large, single-family property for smaller, multiple homes to help you achieve just that?

Is your expansive home simply more than you need? Perhaps you love your country club community and wouldn’t consider leaving your friends. We’ve helped many residents sell their estate-sized property and buy a smaller home right in the same neighborhood – some just steps from the club!

Is your present home equipped to keep pace with the changes in your health or mobility as you age? Take this into consideration as well when thinking about whether rightsizing makes sense for you.

As with any real estate transaction, your success comes down to the professionals you choose to put in your corner. We’ve helped hundreds of North Scottsdale residents in the sale or purchase of their next home and we’d be honored to work with you too. Let’s talk about the market and what type of a lifestyle interests you! Contact us at 602.320.8415.

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