It’s that time of year for many, graduation! How does that relate to real estate? For those newly empty nesters, it may mean that it is time to downsize. Many of the condo buyers I have worked with over the years were in this very same position. One of the common dilemmas they each face is if they are able to go from a 3,000—4,500 square foot home , down to a 1,300—2,000 square foot condo. Now the one thing many are giving up is a spacious yard…sometimes this is a blessing in disguise. Many decide they are ok spending more time on the golf course and less time pulling weeds!
Adjusting to smaller spaces. The one thing I always ask potential buyer’s is where do they spend their time in their current house? The most common answers…the kitchen, the family room and the master bedroom. This my friends is a condo! Do you really need that 3rd and 4th bedroom? Do you really need that 1500 square foot
finished basement that rarely gets use? What most people find is that they can easily adjust to the smaller spaces and what they really enjoy is the new benefit of more time to be doing what they enjoy and less time slaving over a large yard.
Another added perk to condo living… nearby restaurants! While many of you may enjoy your time in the kitchen, after years of trying to figure what to cook for your family every night, it is nice to have the option to just go down an elevator and walk to you favorite eatery!
Another thing I see with those that choose to downsize, selling the big home in the suburbs and buying two smaller condos. Many buy a condo in the downtown area and possibly a second in areas like Palm Springs or Scottsdale Az. Now this may be a luxury for many, but as the kids leave home, many are ok with having a little more “Me Time”.
Brad Golik is a condominium specialist with Total Property Resources and LuxuryCondosofPortland.com
You can set up condo tours with Brad by calling him at 503-896-8856