Downsizing Your Nassau Home

There are lots of reasons why people choose to downsize. It could be retirement, the kids may have flown the nest, or just plain "maintenance fatigue." Whatever the reason, you need to plan your new lifestyle carefully.

Why? Because certain sized homes may take a while to find here in Nassau, especially in a location that is appealing to you with the nearby amenities that you want in your life.

When you search for a smaller home or apartment in Nassau, don't forget that Location and Price are still the key ingredients. Even if you don't have children or they've flown the coop, a good nearby school and proximity to a grocery store, shopping, a beach (among other amenities) are still the best bets for retaining value.

If this will be a retirement move, think about the future and seek out Nassau homes or condos on one level, or at the very least, with the master bedroom on the ground floor. For practicality's sake, at least one bathroom should be handicap-accessible or easily remodeled as such. Even if you don't think you'll need it later on, your older visitors might appreciate the convenience.

If downsizing to you means less maintenance, you may be tempted by town home or condominium living, but be aware of "hidden costs," like annual or monthly homeowners association fees.

These can either work for or against you, so make sure you have a list of questions for your Bahamas Real Estate Association agent to answer.

Check recent association meeting reports to see if there is a building renovation planned, as you could be hit with an assessment fee in the near future, too.