Is it time to Downsize?


A recent study by Edelman Berland revealed that 33% of homeowners are contemplating selling their house in the near future to scale down. What’s driving many Americans in this direction?

In a recent blog post, Dave Ramsey, the financial guru, discussed the advantages of selling your current house and downsizing into a smaller home that better serves your current needs. Ramsey explains three potential financial advantages to downsizing:

  1. A smaller home means less space, but it also means less time, stress and money spent on upkeep
  2. Let’s assume you save $500 a month on your mortgage payment. In 30 years, you could have an additional $1–1.6 million in the bank to get you through your golden years.
  3. Use the proceeds from selling your current home to pay cash for a smaller one. Just imagine what you could do with no mortgage holding you down! If you can’t pay cash, aim for a 15-year fixed rate mortgage and put at least 10–20% down on your new home. Apply the $500 you saved from downsizing to your new monthly payment. At 3% interest, you could pay off a $200,000 mortgage in less than 10.5 years, saving almost $16,000 in the process. also addressed downsizing in a recent article. They suggest you ask yourself some questions before deciding if downsizing is right for you and your family. Here are two of their questions followed by their answers (in italics) and some additional information that could help.

Q: What kind of lifestyle do I want after I downsize?

A: “For some folks, it’s a matter of living a simpler life focused on family. Some might want to cross off travel destinations on their bucket lists. Some might want a low-maintenance community with high-end upgrades and social events. Decide what you want to achieve from your move first, and you’ll be able to better narrow down your housing options.”

Comments: Many homeowners are taking the profit from the sale of their current home and splitting it to put down payments on a smaller home in their current location and a vacation/retirement home where they plan to live when they retire.

This allows them to lock in the home price and mortgage interest rate at today’s values. This makes sense financially as both home prices and interest rates are projected to rise.

Q: Have I built up enough equity in my current home to make a profit?

A: “For most homeowners, the answer is yes. This is if they’ve held on to their properties long enough to have positive equity that will be sizable enough to put a large down payment on their next home.”

Comments: A recent study by Fannie Mae revealed that only 37% of Americans believe they have significant equity (> 20%) in their current home. In actually, 69% have greater than 20% equity. That equity could enable you to build a life you have always dreamt about.

Bottom Line

If you are debating downsizing your home and want to evaluate the options you have, give Jo Anne or Tony Rizza a call at 843-301-5825 to find out about the great communities in the Hilton Head Island and Bluffton area which fit both your needs now and later.

Hilton Head Real Estate Partners
Partnering with you every step of the way.

We love golf at Hilton Head Island

Hilton Head Island or “Golf Island” as some people know it, is renowned as one of America’s best golfing destinations. Recently, Golf Digest named Hilton Head Island among the best 10 golf resorts in the world. Hilton Head Island and Beaufort County have 30-plus golf courses for you to choose from and we have listed them below for your convenience.

Golf Course Location Phone number
Agent Lakes Executive Golf Course Sun City Hilton Head 843-645-0507
Arthur Hills Palmetto Dunes Resort 843-785-1140
Arthur Hills Palmetto Hall 843-689-4100
Barony Port Royal Plantation 843-689-4653
Country Club of Hilton Head Hilton Head Plantation 843-681-4653
Crescent Pointe Golf Club Crescent Pointe, Bluffton 843-706-2600
Eagle’s Pointe Golf Club Eagle’s Pointe, Bluffton 843-757-5900
George Fazio Palmetto Dunes Resort 843-785-1138
Golden Bear Golf Club Indigo Run 843-689-2200
Harbour Town Golf Links Sea Pines Resort 843-363-4485
Heron Point by Pete Dye Sea Pines Resort 843-842-8484
Hidden Cypress Golf Club Sun City Hilton Head 843-705-4999
Hilton Head National Hwy 278, Bluffton 843-842-5900
Island West Golf Club Island West, Bluffton 843-689-6600
Legends at Parris Island Parris Island 843-228-2240
Melrose Golf Course Daufuskie Island 843-785-5029
Ocean Golf Course Sea Pines Resort 843-842-8484
Okatie Creek Golf Club Sun City, Hilton Head 843-705-4653
Old Carolina 9-Hole Golf Club Bluffton 843-757-8311
Old South Golf Links U.S. 278, Bluffton 843-785-5353
Oyster Reef Golf Club Hilton Head Plantation 843-681-7717
Pinecrest Golf Club Bluffton Pkwy 843-757-8960
Planter’s Row Port Royal Plantation 843-689-4653
Robber’s Row Port Royal Plantation 843-689-4100
Robert Cupp Course Palmetto Hall 843-689-4100
Robert Trent Jones Palmetto Dunes Resort 843-785-1136
Rose Hill Golf Club Rose Hill Plantation, Bluffton 843-757-9030
Sanctuary Golf Club Cat Island 843-524-0300
Shipyard Golf Club Shipyard Plantation 843-689-4653
The Golf Club at Hilton Head Lakes Hilton Head Lakes 843-208-5353


Have you ever thought of living in a golf community?

Click here to find golf course properties for sale. Alternatively call Jo Anne Rizza at Hilton Head Real Estate Partners today for information.

10 Yorkshire Drive, Hilton Head Island, SC $735,000

Jo Anne & Tony Rizza | Hilton Head Real Estate Partners | (843) 301-5825

10 Yorkshire Dr, Hilton Head Island, SC

4BR/4.0BA Single Family
offered at $735,000
Year Built 1994
Sq Footage 3,658
Bedrooms 4
Bathrooms 4.0
Floors 2
Parking Unspecified
Lot Size Unspecified


Custom Dan Lawrence quality built energy efficient w. 4 zone Htg./AC Trane units. 3 bdrms. plus office/bdrm and finished bonus room. 4 full baths & spa. Light & Airy home w. 9 skylights, first floor Master Suite w. his/her baths & huge closets. Designer Kitchen w. Thermador gas grill. Great Room has gas fireplace flanked w. custom bookshelves. Lrg. Screened porch off Great Room from dbl. glass doors instills privacy & panoramic lagoon views of the 12th hole tee-green. Add a pool if desired. Unique drive thru 3+car garage w. workshop & loads of storage. 1 year Home Warranty included (T0807123)
see additional photos below

property features

    • – Fireplace
    • – Barbecue area
    • – Ceiling fans
    • – Jetted tub
    • – Pool
    • – Porch
    • – Sports court
    • – Dock

additional photos

Contact info:

 Jo Anne & Tony Rizza
Jo Anne & Tony Rizza
Hilton Head Real Estate Partners
(843) 301-5825
Posted: May 01, 2013