How to Downsize Your Home

Video Transcript

"The kids have moved out and you're tired of maintaining that large house. I'm Richard Blake in Tampa, Florida. And I'm here to explain how you can downsize your home. The first thing that you're going to want to do is put your house on the market. You can contact your local real estate agent and ask them what the current market value is in your neighborhood. Once you put the home up on the market, then you're going to ask the agent to assist you in finding your next home. You may want to consider low maintenance options, such as condominiums or town homes. Your real estate agent will be able to give you a list of properties in the areas that you're interested in. When you do find the, the perfect property for yourself, ask the real estate agent to do a comparative market analysis on that neighborhood so you know what the average values are when purchasing the property. This way you're, you're assured that you're not overpaying for that property. Once the offer has been submitted, you then are going to have a due diligence period of anywhere from one to two weeks to do your inspections on that property, and make sure it's the one that you, that you really want and that you're making the right decision. OK? I hope that's some good advice on the first few steps of how to purchase your next property or downsize from a larger home. I'm Richard Blake. You guys have a great evening."