Bonnie Wicks Bertalot
Posts with tag 'Downsizing in Charleston SC'
May
29
29
Why Some Homeowners Are Choosing to Stay Put Instead of Downsizing
For years, downsizing was considered a simple financial decision. Sell a larger home, buy something smaller, reduce your expenses, and enjoy the savings.
Today's housing market has complicated that equation.
Many homeowners who begin exploring a move discover that a smaller home does not always translate into dramatically lower monthly housing costs. In some cases, the savings are much smaller than expected.
The Math Has Changed
When homeowners think about downsizing, they often focus on the price of the next home.
What many don't initially consider is the interest rate attached to that purchase.
Over the past several years, mortgage rates have changed significantly. Homeowners who purchased or refinanced during periods o...
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