Downsizing and rightsizing in Cincinnati

Should I sell first or buy first?

Most people I work with sell first or line both closings up for the same week. Selling first means you know exactly what you have to spend and you are never carrying two houses. The trade-off is that you may need a short rental or a stay with family if the timing does not meet.

Buying first is easier on moving day, but you are paying for both homes until the first one closes. Ask your lender what that would look like for you before you fall in love with a condo.

A third path is an offer that depends on your house selling. It can work, but sellers often prefer a buyer who does not need to sell first, so it is stronger when the market is slower.

Condo, townhome, patio home or a smaller house?

Start with how you want to live day to day, then pick the type of home. If stairs are the reason you are moving, look for a first-floor primary bedroom and laundry. If yard work is the reason, a condo, townhome or patio home where the association handles the lawn and snow may be the answer.

A smaller single-family house keeps you in charge of your own roof and rules, with no association fees. A condo or townhome trades some of that control for less upkeep. Neither is the right answer for everyone, and I am happy to show you both in the same afternoon.

What should I check in the HOA documents before I buy?

Read the documents yourself, and read more than the rules handbook. I lived in a Mason townhome community for 16 years, so I know how much the association shapes daily life. Ask for and look at:

• the reserves, and whether they are healthy for the age of the buildings
• any open loans the association has taken out, and why
• delinquencies: how many owners are behind on their fees
• pending lawsuits
• special assessments that are planned or likely
• the association's insurance coverage
• the rules that matter to you, such as pets, rentals, parking and changes to your unit

Your contract gives you a set number of days to review the documents. I will read them with you, but you know what matters to your life, so it is worth reading them yourself. If the management company is slow to send the financials, that tells you something too.

How do I get the bigger house ready to sell?

Do less than you think, and do it in the right order. Clear out first, because buyers need to see the rooms, not the contents. Then fix what an inspector will flag. Then, and only then, decide whether paint or updates will pay for themselves.

I price your home from what has actually sold nearby, not from what the neighbors are asking, and I will tell you plainly which projects are worth it and which are not.

What do I do with everything in the house?

Start early and give yourself one room at a time. Decide what is coming with you by measuring the new place, not by guessing. Offer family the pieces they want first, then use an estate sale, a consignment shop or donation for the rest. Ask me for names; I can point you to local people who do this every week.

What should I do with the equity from my house?

That decision belongs to you and your financial advisor. Some people buy the next home outright, some keep a smaller mortgage and hold the cash, and some do a little of each. My part is to get you the strongest sale and the right next home, and to give your advisor and lender the numbers they need, when they need them.

Where do people downsize around here?

Almost anywhere in the area I work. Condo and townhome communities are spread across Mason, West Chester, Blue Ash, Montgomery and Loveland, and newer patio-home neighborhoods with first-floor living keep going up across Warren County. Many people stay close to the doctors, church and friends they already have; others use the move to get closer to family.

Tell me what you want nearby and what you want to stop doing, and I will put together a short list of homes that fit, wherever they are.