Downsizing may be a hot topic, especially considering the number of “tiny home” shows across the various cable networks.  BUT – with all things in real estate it’s important to get behind the headlines and take a look at exactly who we are talking about and what those people are really after.

I dug out a Trulia article from last year that we briefly touched on at one of our WREIA meetings.

One of the big things to focus in on is exactly who wants to downsize.  In short, the largest group who want to downsize, and only by a slim margin, are those who are living in a home over 3,200 sq. ft.  Neon Deion and his 29k mansion certainly fit in that size category.  But even he only “downsized” to his current home with only 7k sq. ft.

Here in the DC area we have people who are very transient. We are going to see an influx of people from all around the country joining us with a turn in the Administration.  For many of those joining us from the NYC metro area the housing options are a major upsize compared to their Manhattan Condos.

My point is this – everyone has their own history.  They bring that history to the closing table.  When you buy a home as an investment – know who you plan to sell to.  Will your target market be downsizing, upsizing or maybe they don’t like labels and want a home they consider “rightsizing?”

For those of you who recently sold a house to someone who is upsizing or downsizing and want to share a story about your business – can you get in touch with me?  I would like to hear your story and maybe we can share any lessons learned with our WREIA members?