There are many advantages to downsizing that cannot be denied. Done properly, a downsize can result in lower expenses, less maintenance worries and less stress. Just keep in mind that not every downsize is the same. There are two examples that stand out to us. An example today and one tomorrow, but they really show that what is right for one family is completely wrong for another.
The first involves a family that we have had the honor to advise for a number of years. They are a wonderful family with six kids and untold grandkids. The question became whether to keep their 6-bedroom house in Willow Glen or whether to downsize to a single story in Saratoga or Los Gatos. As we started to look at options, several things became clear very quickly:
- Their home is the social center of the family and they enjoy that part of life. The homes they considered were all not that much smaller than the one that they were considering selling because the dining and entertaining area required meant that homes tended to have at least four bedrooms.
- Almost all of their children are local; within 1 mile.
- After looking at the numbers it was cheaper to stay and renovate than it would have been to move. By the time we added up the costs of getting their house ready for market, commissions, cost of movers, cost to make the next property their own (a kitchen remodel was inevitably required) the expenses were very likely going to top $200,000. We compared that to several bids remodel their existing home and put in an elevator.
In this situation, it simply did not make sense to move. The costs outweighed the benefits. They would have spent a mountain of money to try to recreate what they already had and made it less convenient to be an everyday part of their family’s lives.
Downsizing in Silicon Valley 
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