Real Estate Watch – Berkshire Hathaway
Are You Becoming an Empty Nester?
Over the past few years, I’ve assisted several clients who have become empty nesters, sold their home, and downsized to a smaller property. I can relate as our last child will leave for college this fall, and my wife and I will also become empty nesters. The reason for this current trend is when you analyze most of the homes in 92011 – a majority were built in the last 15 to 22 years. For many of us back then, this was our second or third step-up home, large enough to hold our growing families.
Today, many families have children heading off to college or have moved out to begin their working careers. Left behind are the parents in a four or five bedroom home, who start to contemplate the following:
- With just two adults in the home, we don’t need as much space to live, or to heat in the winter and cool in the summer.
- By selling now, and purchasing a smaller home, we may be able to carry a large amount of equity over to our next home, and as a result, we may end up with a very small mortgage – or maybe no mortgage at all.
- If we do still have a mortgage, we may want to make our move sooner-than-later, and lock in a lower interest rate before they go up.
- Another reason some of us are downsizing is because of the growing cost of college tuition. Eliminating or significantly reducing our monthly mortgage payment can go a long way towards paying for a college education.
For some of us, there has been a challenge in downsizing – which is, to find a smaller dwelling that we like. This is a barrier for some, but for many we have simply expanded our criteria to include the East Carlsbad zip codes of 92010 and 92009, where there is a larger population of homes suitable for downsizing. In addition to East Carlsbad, there are other wonderful communities within a short distance of 92011. You simply need to ask a knowledgeable realtor where to find these neighborhoods.
Carlsbad is a world-class community and a great place to raise a family. It’s also a wonderful place to live even well into our retirement years. If you have any questions about downsizing, or the real estate market in general, give me a call or send me an email.
Realtor • BRE# 01377312
7030 Avenida Encinas, Suite 100
Carlsbad, CA 92011
Al Rex has been a top selling realtor in Carlsbad for the past 14 years, where he and his family reside. Visit his website at www.carlsbadhousefinder.com to get updated MLS information, or to find a floor plan for your own home.