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downsizing

Why Now is a Fantastic Time to Downsize into a Condo in Grand Rapids

Are you considering downsizing? Whether you’re an empty-nester looking for less space to maintain or simply ready for a change, the Grand Rapids real estate market presents a prime opportunity to make the move into a condo. With the current market trends, now might be the perfect time to sell your single-family home and transition into a condominium that better suits your lifestyle. Let’s dive into why this is such an advantageous moment to make the switch.

The Condo Market is Heating Up

The Grand Rapids condo market has been increasingly active this year, showing strong growth compared to last year. Here are some key stats:

  • Active Listings: Up 10%
  • New Listings: Up 11%
  • Homes Under Contract: Up 6%
  • Homes Sold: Up 1%
  • Sold Volume: Up 8%
  • Average Sale Price: Up 6%
  • % of List Price Received: Steady at 100%

What does this mean for you? The increase in active and new listings means you’ll have more options to choose from, whether you’re looking for a cozy downtown unit or a more spacious suburban condo. Prices are rising, but not so quickly that they’re out of reach—making it a great time to secure a condo before prices climb even higher.

Selling Your Single-Family Home: A Strong Market

While the condo market is offering great opportunities, the single-family home market is equally strong, making it an excellent time to sell. Homes in the Grand Rapids area are in high demand, and sellers are often receiving offers at or near their asking price. This competitive environment means you can likely sell your current home quickly and for a good price, giving you the financial flexibility to invest in a condo that meets your new needs.

Why Downsize Now?

Downsizing offers numerous benefits, especially in today’s market:

  1. Simplified Living: Condos often require less maintenance, which can free up your time for the things you truly enjoy—whether that’s traveling, hobbies, or spending time with loved ones.
  2. Financial Flexibility: Selling your single-family home in this strong market can provide you with a substantial return, allowing you to purchase a condo and potentially reduce your monthly living expenses.

If you’ve been thinking about downsizing, now is a great time to make the move. The Grand Rapids condo market is thriving, offering a range of options for buyers. At the same time, the demand for single-family homes is high, providing an excellent opportunity to sell your current home at a strong price. By taking advantage of these favorable market conditions, you can transition into a condo that aligns with your lifestyle and financial goals.

Ready to explore your options? Let’s connect and find the perfect condo for you in the thriving Grand Rapids market!

Upgrade Your Life by Downsizing Your Home

You’re ready for a new chapter in your life and not sure that your current home fits in this chapter or not. Some of the most popular reasons for downsizing include.

  • You are not using most of your living space.
  • You’d like a different style of home or floorplan because your lifestyle has changed.
  • Your yard and landscaping are getting to be a burden to maintain.
  • You want to simplify your life so that you can focus on more important things.
  • Your wants and needs have changed since you first moved in.

Now you’ve committed to the change. Let’s talk about the journey and steps to take to get to your new and improved chapter.

The first step is deciding what type of home are you looking for. Do you want that cabin on the lake, a spacious condo with an open concept floor plan, a new construction ranch home, a home in a warmer state? There are so many options!!

The second step is to determine if your goal is possible at this time. Find out what your current home is worth on the market. Determine what the cost will be to purchase your new home. Do the numbers work? Are there properties on the market that fit your wants/needs and are in your budget? Is there a market for your home right now?

Step three is to come up with a game plan and put it into action. The market (and a great Realtor) will help you determine which strategy is best.

  • List your current home then look for a new one once your home is under contract.
  • Buy your new home (cash, bridge loan, new mortgage), then list and sell your current home.
  • Look for a new home. Once you find the right home, write an offer contingent upon you selling your home. If your offer is accepted, list and sell your home.

7 Tips for Saying Goodbye to Sentimental Belongings

When I work with clients who are downsizing to a smaller home, one of the hardest chores they face is letting go of sentimental belongings they no longer have room for. Souvenirs collected during travels, family heirlooms, and your children’s keepsakes can be quite stressful to part with. It doesn’t matter whether the items have monetary value or not; in fact, often the most difficult items to let go of are worthless in terms of money, but priceless in sentimental value.

Here are some tips to help you part with belongings you are attached to but no longer want to keep.

1. Remember that our memories reside within us, not within our possessions. Psychologists say that letting go of sentimental items can be extremely therapeutic. When we keep things, the items occupy both physical and mental space in our lives. It’s healthier to focus on your memories and not the items that represent your memories.

2. Focus on the present. Letting go also helps to bring your focus to the present. Sometimes things are continual reminders of the past and hold us back from living in the present. Dwelling in the past can make one more prone to depression and can affect our ability to deal with stressful situations in our lives. Realize that while we can always cherish our memories, we don’t need the past to be happy in the present.

3. Let go of guilt. People often hold onto an item they don’t want or need because someone special gave it to them or it represents a special person. Learn to let go of the guilt associated with getting rid of gifts you can’t use. Appreciate the thoughtfulness of the giver or the special memory it represents but pass the item on to someone else who can use it or donate it to charity.

4. Don’t save it for your grown children. Times have changed and today more young adults are able to buy their own furnishings. And they aren’t as sentimental about family heirlooms as prior generations were. Talk to your kids now and find out if you are holding onto your china, crystal, and silver tea service for nothing.

5. Compromise with your spouse. It’s not uncommon for one spouse to resent the others’ favorite belongings while holding onto their own special stuff. It’s important to recognize that, while you may not understand your husband’s need to keep a ball cap for every MLB team he’s seen play, he may feel the same way about his hats that you do about keeping every book you have read. Decide together on a reasonable number to keep.

6. Start with the easy stuff. If you have a lot of belongings to sort through, start with the easier decisions and work from there. Often people find that once they get some momentum going it feels good to let go.

7. Write a family memoir. Hold onto your memories with words instead of things by writing your memoir or the story of your family. Writing your story can be very therapeutic and can help you release your hold on tangible items. If you need help, try a service like Storyworth.com.

Features to Focus on in Your Home Search

When I sit down with clients to discuss what they are looking for in a home, I ask them to make a “wish list” of everything that they want in a home. Bedrooms, baths, amenities, location, price, etc. Some have a laundry list of everything under the sun, and some can only come up with a couple. I then ask them to narrow it down to the top 5 “high priority” features. If they have less than 5, I’ll ask more questions to pull out more ideas from them.

Why 5? Because most of the time you can sum up what you are truly looking for within this number. Keep in mind you aren’t always going to get all 5. I always tell potential buyers that we are looking for a home that meets at least 85% of their criterial because 100%, aka “perfect” homes do not exist. Even if you build your “perfect” home there will be things that you wish you would have done differently.

So how do you decide what should make your top 5?

Keep an Open Mind About Features

Do you have your mind set on a 3 bedroom home, but in actuality a home with 2 bedrooms and an office would fit the bill and keep you in your price range? Do you really want a 2 stall garage, but if you have a 1 stall garage and a storage shed that would meet your needs as well? Maybe your hoping to stay in a certain price range but if you bump it up just a bit you can find more of what you are looking for and can still comfortably afford the mortgage payment.

Have Your Non Negotiables

If the main goal of buying a new home is to live in a certain school district and have bussing for your kids. Don’t settle for a home in a neighboring school district and resign to chancing the school of choice system and driving your kids to and from school every day. You likely will regret this decision. Another example would be that really want to live in a home that has main floor everything. You find a one that has almost everything you are looking for but the owner’s sweet is in the basement. Every day when you climb those stairs you will wonder what you were thinking at the time.

I’d love to guide you through the home buying process. My passion is to help my clients reach their goals and find the right home for them!