Downsizing Homes in Jupiter Fl

Downsizing Homes in Jupiter Fl

Downsizing Homes in Jupiter Fl? This is a question that I get asked often as we have an aging population here in Florida and many are on a fixed income. Each instance will take some time to sit down and explain your options. I won’t delve into your personal finances but will explain what your home is worth today and how much it will cost to sell your home. I ask several questions why do you want to move? Are you wanting to stay local? Is it for financial reasons or something else. Tell me you motive and I will explain your options.

In many cases in makes no sense economically to downsize from your current home unless your home is worth several hundred thousand dollars more than what you may be looking to spend on your new home. This is a situation where we see very limited mobility among owners and is a cause of limited inventory supply. Unless you have to move in many cases it just doesn’t make sense. Figure in the costs of selling your Jupiter home plus the moving expenses plus the aggravation especially for older couples is it really worth it. You may spend $30,000 selling your home and moving. You may incur costs on upgrading your new home.

Downsizing My Jupiter Fl Home

Besides the moving costs with a limited supply of properties for sale now finding a new home can be difficult. The timing of selling your present home and finding and buying a new home can be challenging. Many sellers have to sell their present home before they can buy a new home. What happens if you can’t find a new home and you have to rent?

The average person is staying in their home for nearly twice the time as in the past which is a reason why we are seeing less homes for sale and a tight inventory. Population shift into and around Florida is another cause. We just can’t build enough homes for our growing population. At the end of the day Downsizing Homes in Jupiter Fl  is less prevalent and many only out of sheer necessity due to financial or health issues.

Buying and selling your Jupiter home can be more difficult than ever in this present market. Lower priced Jupiter Fl condos are quickly being snapped up due to lack of affordable options. Many sellers are looking at other options such as moving North and looking at Hutchinson Island condos as an option or more affordable single family homes away from Jupiter. Vero Beach is quickly becoming more popular due to affordable housing prices.

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