The Globe and Mail Downsize Your Home Worksheet is designed to help people think through some of the financial considerations involved in selling the family home and moving to something smaller. Sure, there are lifestyle factors in deciding when to sell. But there's also the state of the real estate market to consider. Should you lock in your gains, or wait and run the risk that the housing market could fall? To crunch the numbers, try the Downsize Your Home Worksheet.
The Globe and Mail Downsize Your Home Worksheet
Question: Should you wait to sell the family home, or should you take advantage of today's high real estate prices and sell now?
Edit the values in the right column to reflect your scenario. The red values are calculated automatically.
1) How much might my house grow in value if I stay?
2) What if I stay and prices fall?
Which scenario would you like to use to calculate the following questions?
3) What will it cost me to move to a smaller house or condo?
4) Net gain from selling
5) What if I invest the gains from selling my house?
Future plans: Part Two of the Downsize Your Home Worksheet will help you compare the month-to-month living costs at your family home against a condo, smaller house or rental.
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