Sell, Upsize, Downsize, or Rent: What’s Right for You in 2025?
Deciding what to do with your current home can be a tough call. Are you ready for a change? Do you want to cash out, or are you more interested in holding onto your property as an investment? Here’s a breakdown of the key decisions and thoughts that might push you toward upsizing, downsizing, or renting out your current place.
Upsizing: Ready for More Space?
If you're thinking about upsizing, it’s probably because you're ready for a change that offers more room or a better lifestyle. Here are a few thoughts that might guide you toward that decision:
Need more space for your growing family or a new lifestyle?
Maybe your family’s expanding, or your needs have shifted. Perhaps you need an office for remote work, more bedrooms, or a larger yard for pets or kids. Upsizing is a logical next step if you're feeling cramped or envisioning a different future.
Your current home no longer meets your vision for the future.
You’ve outgrown your current space and want to make a move to a neighborhood or property type that better matches your evolving lifestyle or long-term goals (bigger house, better schools, closer to family, etc.).
Ready for a better location or upgraded amenities?
Maybe you’ve been eyeing that house with the pool, more modern features, or in a location that’s closer to work, amenities, or outdoor activities. This could be your chance to take advantage of your home’s equity for the upgrade.
Downsizing: Simplifying Life (and Finances)
On the flip side, downsizing is often the move when you’re looking to reduce expenses, simplify your life, or live in a more manageable space. Here’s what might be driving that thought process:
Kids have moved out, and you no longer need all of that space.
If your kids have left the nest or you’re at the stage where you’re ready for a smaller, more manageable home, downsizing can make sense. You no longer need a large house, and you’d rather put the savings toward something else—like travel or some kind of investment.
Tired of maintaining a large property or dealing with high costs?
You’ve got the big house and the high mortgage payments, but it’s starting to feel like a lot of work. Maybe the thought of smaller utilities, lower property taxes, and less maintenance is starting to sound pretty sweet.
Looking for financial freedom or a more minimalist lifestyle.
Downsizing can help free up cash that you can reinvest in other areas of your life. Maybe you're looking to retire soon, want to invest more, or simply want less stuff and more freedom—downsize to unlock those possibilities.
Renting: Keep the Property, Keep Building Wealth
If you’re not ready to let go of your home entirely, renting it out might be a great way to keep building wealth. Here’s why you might choose this option:
Your current home is in a desirable location, and rental demand is high.
If your property is in an area with strong rental demand, turning it into a rental could generate steady income. You can benefit from rising rents and the potential for long-term property value increases.
You never saw your current home as your forever home, but you want to hold onto it.
Maybe you love the idea of owning multiple properties, or you just don’t want to sell yet. Renting out your home means you don’t have to leave it behind but can still make a profit while holding onto it as an investment.
You’re not sure about the market and want to hold off on selling for now.
If the market is uncertain or you’re not finding the perfect place to buy just yet, keeping your home as a rental gives you time to wait for better conditions. Plus, you’ll have the passive income to cover your costs while you figure out your next move.
Take Action: Which Path Fits Your Situation?
Each of these options has its benefits and trade-offs. Whether you’re upsizing, downsizing, or renting out your current place, understanding where you are in your life and what your long-term goals are will help guide you to the right decision.
If you’re ready for more space and a bigger future, upsizing could be the way to go.
If you’re looking to simplify, save money, and lower your stress, downsizing could help you make that change.
If you want to keep building wealth and make the most of your property, renting out your home might give you the financial flexibility you’re after.
If you’re unsure about what’s right for you or need help navigating the next steps, I’m here to help. I work in both Ventura County and the Greater Palm Springs area and can help you assess your options based on what’s best for your situation. Ready to take the next step? Let’s chat about your goals and make it happen.