Reply to starting to think downsizing to a townhouse not worth it

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[quote=Anonymous][quote=Anonymous]Yep. My parents have done the math many times. The costs of buying and selling is so high in the first place and then factor in that even smaller houses in their preferred areas are still expensive enough, they aren't going to save much money, if any, from downsizing. My father even once calculated due to selling/buying and moving costs, it would take a decade to break even. And in their market, their taxes would go up due to buying anew. So they're staying put in their large SFH. [/quote]

I agree with this even though I'm the PP who mentioned we might downsize to a smaller ranch home in our current community. I only think the move would make sense if we could completely pay off our mortgage by downsizing, including the cost of renovation. But if you're in a paid off house you've been in for 10+ years I agree just the difference in property taxes alone could be enough to make the move not worth it. If you'd need a mortgage in the new home that's also a nonstarter.[/quote]

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