Downsizing has real downsides, and Pennington homeowners who plan for them tend to be happier with the move. Fred Gomberg, who holds the SRES® (Seniors Real Estate Specialist) designation, walks sellers through these before a house is listed:
The savings can be smaller than expected. A newer condo or 55+ home can cost nearly what the old house sells for, and HOA fees add a monthly bill the house never had.
Selling and moving cost money. Closing costs, movers, and furnishing a new place all come out of the equity a seller was counting on.
Letting go takes longer than planned. Sorting through the house where the kids grew up is slow, and it can hurt.
There’s less room for family. Holiday dinners and overnight guests may need a new plan.
Leaving the neighborhood is hard. Pennington is a small borough, and long-time friends and routines aren’t easy to replace.
A rushed move is hard to undo. Buying the wrong place in a hurry is worse than staying put a few more months.
None of this means staying in a house that no longer works. It means running the numbers first and visiting the new area on a weekday and a weekend before committing. Some Pennington sellers find a smaller home in or near town so they can keep their doctors, friends, and favorite spots.
Gomberg works with Berkshire Hathaway HomeServices Fox & Roach in Princeton. He helps sellers put what they’d net from the sale next to the real monthly cost of the next home, and seeing those two numbers side by side often settles the decision one way or the other.
