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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My son moved back to our area and it seems many of his school friends also have relocated to be near their family in their 30s. Unless capital gains tax on the sale primary residences is reduced or eliminated, it makes absolutely no financial sense to downsize. We even recruited a buyers agent to look for us but the homes would need more work than our current one. So I guess we'll stay put and remodel our first floor to accommodate a new primary suite or add an elevator when the stairs become difficult. [/quote]

Look my house I am only up around 500K if you count improvements so I could sell with no capital gains tax. 
But here is my math. House now worth 1.9 million. 
Realtor fee around $100,000
Closing costs around $25,000
Getting house ready to sell around $25,000
Moving with trucks etc around $10,000
Buying new place closing costs around $20,000
Minor things, decorating, buying new furniture small repairs, new house $20,000

So around $200,000 to move. However, if I do this at 70 avg life expectancy is 15 years or 85. Very long payback and also the smaller home will appreciate a lot less[/quote]

Good points. And there is your time and energy to make it all happen. [/quote]

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