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Senior Downsizing within a "down market"

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Services for Real Estate Pros

Seniors on retirement income are finding it difficult to keep up with the rising cost of living   Housing costs consume a major portion of a retirement budget and downsizing the ol' abode may be the best way to reduce housing costs.   Downsizing your home means downsizing your taxes, your utiltiy bills, your home maintenance, and your mortgage.  

First you need to sell your larger home wth all its upkeep and costs.  This may not be as easy in today's "down market", but it can be done and you will be able to buy a smaller place at a bargain price.

Renting may be the answer since it allows flexibily to move around as your prioritites change during your retirement years.  And maintenance can be left up to the landlord.

Think about retiring in an area with low cost of living, high quality medical care, and affordable activities to help keep you young.  Live hard, play hard, enjoy every day - take a walk on the beach.

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David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

Your post is right on! I live in a 55+ development and many Seniors are having a difficult time. Fortunately, I'm still selling Real Estate and my wife is employed. Thanks for a good and timely post!

May 10, 2011 06:44 AM
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

I have found that seniors are not only wanting to rent a new place now, but they also just want to rent out the homestead, too, if they can find someone to take the responsibility of the leaky faucet or snow removal. 

May 10, 2011 06:46 AM