Moving Up and Downsizing

Summer is here…. right? These 90-degree days certainly feel like it! The summer weather in Wisconsin typically introduces a new type of buyer and seller into the real estate market. As an example, most home buyers in the summer don’t have the pressures of needing to find a home by a lease deadline (like many first-time homebuyers that have leases expiring in May/June), and they are oftentimes looking for homes to change something about their current living situation, needing more or less space – moving up or downsizing.

This is a fantastic, healthy real estate market for homeowners that are looking to “move up” and find a bigger home that fits their needs. That is because inventory is the lowest at the price points for many home buyers that are looking for starter homes, as well as for those that are looking to downsize – especially for ranch-style homes that appeal to those with mobility challenges that are looking to age in place. These starter homes have the highest amount of demand due to affordability and they can appeal to a wide range of purchasers.  

On the other end of the spectrum, downsizing can be just as lucrative in this market because of the lifestyle changes that COVID brought for working families. We are still seeing many professional households need one or two home office spaces that their starter home wouldn’t ever be able to provide. It is true that a home seller who is downsizing will often experience significant competition on the purchasing side, but the benefit is that these home sellers have realized historical equity gains over the past few years, making them an excellently competitive purchaser for the home that will fit their needs for the next phase of their lives.

Whether moving up or downsizing, our team highly recommends looking into new construction opportunities. A home buyer can get a new construction home without competition or maintenance headaches. These new construction options are most often not listed on the market, so be sure to reach out to your Husky Homes agent to inquire about what kinds of new listings may fit the criteria you are looking for with your next home. 

Posted by Alison Crim on
Email Send a link to post via Email

Leave A Comment

Please note that your email address is kept private upon posting.