3 Downsizing Data Points To Inspire You to Not Wait
Close to 100 million Americans will be downsizing over the next several years as they retire and move on to smaller homes. The data surrounding this massive move into smaller, more manageable homes suggests that homeowners who are thinking about downsizing should act sooner than later, in order to avoid the lack of available services. Here are 3 downsizing data points to inspire you not to wait to do your downsizing.
1) More needs than there are service providers. There has never been a time when so many homeowners have needed to move and downsize so, all quality and related service providers will be very hard to schedule. Whether it is contractors, movers or even medical services, there may be many more needs in areas like Florida and the Carolinas then there are service professionals. The sooner you can begin downsizing the more likely there will be services for your downsize.
2) Fewer buyers than sellers. With so many baby boomers wanting to sell their homes over a short period of time, there will be an abundance of available homes in the areas where many are downsizing from and, a shortage in traditional retirement areas like Florida and North and South Carolina. This will mean lower values for those who wait to sell and, higher prices in the areas where there will be shortages.
3) Quality of life. Let’s face it, no one is getting any younger and, there are no guarantees that Covid-19 will not be with us for several more years so, why spend time waiting in cold, dark and unhealthy environments when many homeowners do have the option to live/work wherever they want to.
Life is short. Time is precious. All the downsizing data points suggest that it is going to be much more difficult over time so, deciding to downsize and move now is a good idea.