Recent headlines have highlighted apartments rising nearly $100,000 in just a year. For downsizers, these kinds of property market shifts raise important questions: Is now the right time to sell? Will the value of my new home keep pace with what I’m selling?
It’s not just about what you sell for
The sale price of your family home is only part of the picture. The real question is: what are you buying into? A retirement village or land lease community may have a much lower entry cost, but ongoing charges and exit fees also need to be factored in.
Comparing options
A $100,000 swing in property values can make headlines, but even a few hundred dollars in weekly fees can add up to a much larger impact over time. That’s why it’s so important to look at the whole financial picture.
Final thoughts
Whether property prices are up or down, the best decision is one based on understanding both the market and the costs of your next move.