If you’re considering making a move to a smaller home, you are in good company. According to a recent study from Bank of America Merrill Lynch, three out of four Baby Boomers plan to downsize their homes.
Yet the process of downsizing brings questions that you must answer before you make a move.
Downsizing really boils down to two questions
.
Where will you move? And what type of home will you buy?
Where to Move
Many people looking to downsize find the “where” question the hardest of the two. While some people choose to downsize in their current community, others find it more advantageous to move to a new location. Before you start searching for a downsized home, consider where you want to live. Some factors to consider include:
- Access to health care
- Overall cost of living
- Property tax rates
- Recreation options
- Proximity to cultural amenities
- Access to grocery stores and shopping
- Proximity to highways and airports for travel
Some of these may be more important to you than others, but all are worth considering. You are the best judge to determine which is the most important.
If outdoor recreation is important to you, the Berkshires offers a number of communities that are near forests, lakes, and mountainous areas to provide endless opportunities to enjoy the outdoors. Homes for sale in Berkshire County, MA, for example, include properties near Mount Greylock State Reservation, Clarksburg State Forest, Savoy Mountain State Forest, and October Mountain State Forest.
Pittsfield, Massachusetts, the largest city in Berkshire County, offers outstanding options for shopping, dining, and culture, while also being home to Pittsfield State Forest. Learn more about the pleasures of Pittsfield.
Columbia County, New York, is another popular place to downsize. Hudson, New York, the county seat, is well known for its artistic scene. This city is home to the Hudson Opera House and hosts the Hudson Music Festival each year, all while providing the shopping, dining, medical facilities, and other amenities expected of a medium-sized town.
What Type of Home to Buy
Whether you choose to buy Berkshire real estate in Berkshire County or Columbia County or choose a completely different community, you will also need to decide what type of downsized home suits your needs best.
After owning a single-family home for years, you may not want to downsize all the way to a condo or townhome. While these types of homes have their benefits, they come with less freedom than single-family properties.
On the other hand, if you want to get help with landscaping, lawn care, and snow removal, the included maintenance fees of managed properties is a benefit worth considering. Condos and townhomes are typically coated near a community’s core for maximum access to a convenient lifestyle.
To make the decision about what type of downsized home to look for, ask yourself these questions:
- Will your belongings fit into a smaller home?
- If not, are you willing to sell or donate furniture and household items?
- Will you be entertaining out-of-town guests regularly?
- Do you want help with yard work and maintenance?
- Do you need a large yard for pets?
After answering these questions, you will have a better idea of what type of real estate will meet your needs.
Start the Process
After you’ve determined the “where” and “what” for downsizing, start looking for Berkshire real estate that meets those criteria. Working with a real estate agent who is knowledgeable about downsizing will help make the process as smooth as possible.
Stay on Top of the Market
Track the Berkshires real estate market with our quarterly market reports. You can quickly determine if prices are rising in the Berkshires and how quickly homes are selling. Our data can help you put together a downsizing timeline that reflects the market.
With the right agent and a clear understanding of your goals, you will soon find a downsized home that is a perfect fit for you.
