Thinking of Downsizing? Read This First
If you’ve owned your home for more than a few years, chances are you’re sitting on a significant amount of equity, and possibly wondering if now’s the time to downsize. According to a recent Realtor.com analysis , baby boomers—those born between 1946 and 1964—own an estimated $18 to $19 trillion worth of real estate. That’s nearly half of the housing wealth in the U.S. Whether your kids are out of the house, you're retiring, or just want less maintenance, selling your longtime home can unlock major financial and lifestyle opportunities. But it also comes with questions: Where will you go next? How do you maximize your return? What steps should you take before listing? Here’s a complete guide to help you move forward with clarity, confidence, and a plan that preserves your wealth. Step 1: Understand Your Equity Position You probably already know your home’s value has gone up. But do you know by how much ? Your equity is the difference between your home’s market value and what you...