Triangle Area Real Estate News & Information - Downsizing

What are the True Reasons You're Thinking About Moving Now?

Primary motivations for buying or selling a home, are infrequently related to mortgage rates, however, so much news reporting on rates can cloud decision-making around moving. If you're contemplating putting your house on the market in the Research Triangle Park area, it's likely due to a change unrelated to the FED. Mortgage rates are a factor that plays a pivotal role in your decision-making process, but they should not overshadow the primary reasons that prompted you to consider a move in the first place.

We cannot ignore that higher mortgage rates impact affordability, leading some homeowners to postpone selling, because they are nervous about securing a new home and borrowing at a higher rate. But there are other lifestyle changes and needs…

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Should Baby Boomers Rent or Buy After Selling Their Home?

If you are like many baby boomers and considering cashing in on equity and favorable conditions for sellers, questions around whether you will move, or age in place, may be top of mind. Many people making this decision are considering whether they should buy a smaller home or if they should rent. While the answer to this question hinges on your individual circumstances, we have compiled some of the most important factors to weigh.

Rising Rents

Utilizing national census data, the trend clearly illustrates a consistent upward trajectory of rents since 1988. While opting to rent may seem like a good option, you could expose yourself to a higher rental payment over time. This is especially problematic if you are on a fixed income.

Conversely,…

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Is a Smaller Home Your Best Option?

In this Blog we report on the housing options facing one of the largest segments of the population about to retire, the baby boomer generation. Traditionally, there have been two, rather limited, options: move in with extended family or downsize and then move to a facility for aging in place. The Triangle area offers excellent access to healthcare, the climate is moderate, and many generations enjoy the lifestyle here, making it one of the places that multiple generations are calling home. But, when to make the choice to move smaller or move to a facility, is by no means an easy one.

According to Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors (NAR) "As we see the transition of the…

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Renting A Home Frequently Costs More than Buying!

Rents are skyrocketing, and while the labor market is strong, salaries are not keeping pace with inflationary pressures combined with ever increasing rents. Whether you're looking to buy for the first time and saving for a downpayment or those looking to sell and then rent, the challenge of renting is unstable housing  costs. Ideally you could budget a specific amount of money per month for housing however volatile rental costs are making this extremely challenging. Below we review the state of the market and offer some common sense ways to stabilize housing costs through homeownership.

State of the Market

According to the ATTOM Data 2022 Rental Affordability Report, owning a home is more affordable than renting in the majority of the…

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Downsizing Smarter; Leveraging Today’s Strong Seller’s Market

My NC Homes is selling homes quicker than we can find sellers and list them. By spending the time and money necessary to properly present and market our seller’s homes, they are being sold either sight unseen (buyers have the confidence necessary because we invest in proper staging, professional photography, virtual tours including 3D walkthrough floor plans, and video) or there are dozens of appointments made typically within hours of the homes hitting the market. Final contract prices are well above asking and we are getting the absolute best terms for sellers. The market is at present strongly favoring sellers and if you were thinking of downsizing to make a move towards retirement or looking for less maintenance and more liquidity, this is an…

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Are You About to Be an Empty-Nester?

Congratulations!

In the next couple of months, millions of students will be graduating and moving out of their parents home. Hopefully you're celebrating; your child has graduated and is moving on into the next stage of their lives and you are about to do the same. Trust me it's good stuff, you and your partner get to spend more quality time together and making plans becomes so much easier. I know this was the case for my wife and I, it's how we ended up in North Carolina. I encourage you to be proud;think about how far you've come since they were first born.

Is it time to make a move?

Now may be a good time to take a look at your home and really think about is it ideally what you'd like to spend the next 10-20 years in? What…

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