Tom York on Business: Smaller San Diego Homes a Bargain for Downsizing Owners

Condominium buildings in downtown San Diego. Photo by Chris Stone

Self-storage website StorageCafé is out with its latest study, which found that homeowners downsizing to a smaller home or condo can realize a very nice savings. Indeed, downsizing could be a “smart move” that could allow owners to move to a better location for much less money.

To find out where U.S. homeowners could save the most, the StorageCafé study analyzed the metro areas based on the difference between the value of a four-bedroom home compared to a two-bedroom home, coupled with the differences in property taxes over 10 years — plus selling and buying closing costs for the two properties. The analysis apparently didn’t include capital gains taxes that would need to be paid on the gains involving the sale of a larger home.

The highlights:

  • The study found that homeowners in the San Diego metro area enjoyed the second largest amount of savings compared to…

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