When it is time to Downsize
The dream of many apartment dwellers is to someday own a house. What many people forget is there is a time when children have gone that many homeowners want to downsize to an apartment again. Whether it is to reduce cost of upkeep and taxes or simply to lower work associated with owning a home there are many reasons people decide an apartment suits their lifestyle better. Selling you home also provides cash which can be used to pay for living expenses or simply to better enjoy life.
In looking for an apartment to replace your home remember maintenance expenses will be substantially lower. In addition, if part of the idea is to reduce work then look for apartments with smaller lawn or that include lawn care as part of rent. Finding an apartment you are happy with can take a fair bit of time so you should not wait until you have a closing date on your house sale prior to starting the search. In fact, it is much easier to sell an empty house so moving to an apartment before putting your home on the market can be a very good strategy.
Most people plan on using the proceeds from the sale of the home to cover some living expenses. They are converting a hard asset into cash in effect. Before making any decisions get a free house valuation to determine how much that will equate to. Many people ask who they should have value their house. It is always best to work with a realtor familiar with their market area. Often times a realtor can also assist in locating and apartment as well.
Many online sites offer a fast free house valuation. If you live within a zip code they have market data on you can Get a free house valuation here. Once you have established a price for your home and put it on the market you can start the serious apartment hunting.
When choosing apartments, besides the obvious of location, size, and inclusions be sure to review terms of the lease. Knowing exactly what expenses you are responsible for and what things are allowed is important. Things like cable TV and internet service need to be approved by a landlord so if they are wired with one company you will need permission to have a different company install new. This is particularly of note when comparing satellite TV to cable services.