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Market

Parents of Adults: Downsize or Expand?

empty nesters downsizing

Countless numbers of city dwelling 20-something-year-olds fled to the safety of their parent’s homes this year. They enjoyed the novelty of home cooked meals and having their laundry magically folded and left on their beds. The suburbs were nice, for the time being, as they awaited the Governor’s go-ahead to return to their Logan Square apartment shared with four other people. And then… they did not return.

downsizing, parents of first time buyers

Does this sound like you?

There is no doubt the world has changed. And homeowners are changing along with it. We are speaking to parents who (1) would like to help their children buy a first home (2) are ready to downsize to a maintenance-free nest (3) are considering upgrading the house to accommodate a family of adults. If one of these sounds like you, UHL has your solution.

1. The Pusher 

For every parent trying to get their kid out of the house, there is a nervous first-time buyer. Luckily the first step in overcoming nerves is the easiest one: an online pre-approval. We at UHL understand how scary mortgages can seem at first, which is why we developed a simple six-step buyer education process. And with a trusted mortgage expert on your team, your first-time buyers can get to the closing table with confidence.

2. The Eliminator 

Downsizing has been on an incline for years. The idea of turning in the 5-bedroom family home for a maintenance-free condominium is highly attractive to the aging population. And now might just be the perfect time to move forward. “Sorry kids, you’ll have to save those laundry quarters again. Mom and Dad are moving to Florida.” Now, downsizing to the perfect condo means finding someone to navigate them through condo loans. We have you covered there.

3. The Embracer 

Let’s not assume every parent wants their kids out of the house. Just as downsizing has been on the rise, so has the occurrence of multi-generational homes. For those parents overjoyed to have their nest full again, maybe it is time to look for a house with space enough for both the Xbox and the model plane collection.  When Jumbo Loan rates are at unbelievable lows, this is absolutely possible.

Whether you are ready to become an empty nester or head of a multi-generational household, UHL continues to be here for you. Call anytime to talk about the possibilities that await.