Costs to Include When Planning Out Your Downsizing Budget

Remodeling Expenses

When looking for a new home, you’re not likely to find one with all of the aging-in-place features to make your golden years safe and comfortable. So factor the costs of making those home changes on your own into your budget. You can use online tools to quickly find out how much home projects cost in your area. For instance, an average bathroom remodel runs $10,332 to $24,516 in San Diego, but project specifics can drive those costs up or down.

Costs of Selling a Home

You may have already thought about local home prices when planning your downsizing move, but many seniors are surprised by the costs of selling a home. Two of these costs that tend to take homeowners by surprise are the expenses of preparing a home for sale and the fees involved with selling a home. Closing costs can vary according to your location, but seniors should be prepared to pay for at least a portion of closing costs when selling a home. Plus, you may need to cover closing costs on your new home. The best way to prepare for these transaction expenses is to consult your real estate agent when buying or selling a home.

Moving Expenses

To help your downsizing move go smoothly, you need to anticipate all potential moving costs. A local San Diego move can cost you anywhere from about $365 to $1,255 depending on your home’s size, but you may also need to factor storage costs and professional moving fees into your budget. Hiring professional movers may be an added moving expense, but having that extra help can help you avoid the headache of packing and moving heavy boxes on your own—especially since it can take time just to declutter and downsize your home before you even think about packing.

Things to Consider When Searching for Your Perfect Golden Years Home

Location and Size

If you’re not sure which neighborhood is best for your retirement, you could always rent a vacation home to test out different neighborhoods and home types. Per Turnkey, San Diego’s 70 miles of gorgeous coastline and mild average temperatures make it a perfect retirement spot, and test-driving homes in areas like La Jolla and Torrey Pines can help you find your perfect retirement neighborhood. There are also quite a few San Diego County cities, such as La Mesa and El Cajon, where you may be able to stretch those retirement dollars further without sacrificing access to all of the perks that San Diego has to offer.

Floorplan and Features

Aging-in-place modifications can make any home safer for your retirement years. These modifications are specifically tailored to prevent falls and home accidents that can reduce senior independence, all while adding comfort to your golden years home. While you may not be able to find a home with all of the aging-in-place features you need, you can look for senior-friendly design elements, such as no-step entries and slip-resistant flooring. Also, pay attention to the floorplans of potential homes, since open floor plans may make it easier to move around and provide enhanced lighting throughout all of the living areas in a home.

The whole point of downsizing is to simplify your golden years. So don’t let the process of downsizing and moving to a new home cause you more stress than it needs to. Keep this guide handy every step of the way, and be sure to get the help you need with downsizing tasks. These are some of the best years of your life, and you deserve to enjoy them!

Written by Michael Longsdon for www.RealtyTimes.com Copyright © 2019 Realty Times All Rights Reserved.