Have you been thinking about downsizing from a house to a condo? People all over the Twin Cities area are getting ready to move into a smaller home, and it might be the perfect time to do so. Read our blog to find out some of the benefits to downsizing from a house to a condo and how you can do it in the best way for you and your wallet.
- 1. Should I Downsize From a House to a Condo?
- 2. Benefits of Downsizing From a House to a Condo
- 3. How to Downsize From a House to a Condo
- 4. Start Downsizing Today!
1. Should I Downsize From a House to a Condo?
Many Twin Cities residents are thinking of making the switch from being Single-Family homeowners to condominium homeowners. In 2022, the demand for homes is high, but the condo market has been easier to navigate as a buyer. Read our blog about 10 Reasons to Sell Your Home Now to see if it's the right move for you.
There are many similarities and differences between the two styles of living. Here are some reasons people choose to downsize from a house to a condo:
- Your kids have moved out of the house and you have a lot of extra space.
- You want to diversify your real estate portfolio - Downsizing may allow you to buy a second home in a different location. Ready to be a snowbird?
- You like to build community and share common space with others.
- You want to continue building equity, but no longer want to do yard work or be solely responsible for costly home expenses.
- You want access to many of the great amenities offered in condominiums.
- Your health has changed or your mobility is limited.
2. Benefits of Downsizing From a House to a Condo
There are many different benefits to consider before downsizing from a house to a condo. Depending on your stage in life, it may be the perfect option for you. Whether you've just experienced a big lifestyle change or you're preparing to retire and hope to split your time between the Twin Cities and somewhere with a warmer climate, check out some of the benefits of condo living:
- Condos typically require less maintenance (interior and exterior).
- Condos may have less square footage to furnish and maintain.
- Many condominiums, including converted mansions, in the Twin Cities have elevator access and/or one-level living.
- Homeowner's Associations (HOA) typically are in charge of maintaining the building, including expensive repairs such as roofing and landscaping.
- Some HOA fees include utility bills such as heat, electricity, wifi, etc, which can lower the number of monthly payments a condo owner is responsible for.
3. How to Downsize From a House to a Condo
The first step to downsizing from a house to a condo is to meet with an experienced realtor to discuss your history, future goals, and your motivations. The HIVE team of Twin Cities realtors are not only experienced, but have the patience and hard work ethic to help you achieve all of your real estate goals. Visit our blog about selling your home for a step by step guide about what to expect during the selling process.
Transitioning from a single-family home to a condominium can be quite a different experience, but with The HIVE's experience throughout the Greater Twin Cities region, we can be sure to provide excellent service, step-by-step assistance, and vast knowledge of the current market.
To get started downsizing today, we provide tips on our blog with 4 steps to prepare your home for sale.
Start Your Downsizing Journey Today!
Contact us to start touring homes for sale today! We will provide you with a Competitive Market Analysis of your home and assist you throughout the entire process of downsizing from a house to a condo.