Downsizing & 55+
Downsizing checklist
Print it, check it off, and call us when you have questions: (612) 843-9620.
Decide
- List your must-haves: main-floor bedroom and laundry, no-step entry, attached garage, guest room
- List who and what you want to be near: family, doctors, church, the cabin
- Set a monthly budget that includes taxes, insurance and any association fee
- Pick the kind of home: one-level house, townhome, condo, 55+ community, co-op
Know your numbers
- Get a free home value from a local agent
- Find your mortgage payoff, if any
- Ask your CPA about taxes on the sale (the $250,000 / $500,000 exclusion)
- If you’re on Minnesota’s senior property tax deferral, request the payoff
- Talk to a lender if you’ll borrow, or confirm you can pay cash
Sort
- Measure the rooms in your next home
- Go room by room: keep, give to family, sell or donate, toss
- Give family a date to pick up what they want
- Book an estate sale, donation pickup or junk removal
Get the house ready
- Find your purchase papers and receipts for improvements
- Fix what an inspector would flag: leaks, furnace, roof, electrical
- Clean, declutter and paint dated colors
- Decide: list it, sell as-is, or take a cash offer
Time the move
- Choose: buy first, sell first with time to stay after closing, or a short-term rental
- Book movers early (spring and summer fill fast)
- Forward mail; update Social Security, Medicare, banks and insurance
- Transfer or cancel utilities, internet and trash
After closing
- Keep your settlement statement for taxes
- File for homestead on your new home with the county
- Update your will, trust or transfer-on-death deed for the new address
Huerkamp Home Group · Keller Williams Preferred Realty · 14300 Nicollet Ct, Ste 208, Burnsville, MN 55306 · (612) 843-9620 · huerkamphomes.com/downsizing