3) Scout New Location
There are many things to consider once you’ve made the decision to sell your home and downsize to something smaller. Of course, you will want to get a good deal on your new home, but this isn’t the only important thing.
It’s essential to scout the neighborhood and surrounding area of your potential new home before you buy. If you’re moving to a different state, make sure the property and income taxes are not higher than what you’re paying now. If you find you’re moving into a more up-scale neighborhood or a city center, consider the cost of living in a more affluent or expensive area. Things this like could result in breaking even or even paying more for your downsized home. Ask yourself, would the move actually be worth it in the long run?