How much equity do most Reno-Sparks homeowners have after 15-20 years?

It varies significantly by neighborhood and purchase timing, but long-term Reno-Sparks homeowners commonly have $300,000 to $600,000 or more in equity. Nationally, the average mortgaged homeowner holds approximately $299,000 in equity as of Q3 2025.

Can I really buy my next home with cash if I sell my current home?

Many can. NAR's 2025 data shows that nearly half of older boomers (ages 70-78) and 39% of younger boomers (ages 60-69) are purchasing homes entirely with cash.

What percentage of home sellers are downsizing?

NAR reports that 17% of all homebuyers in their 2025 study moved into smaller homes. Among sellers aged 79-99, downsizing was the most common reason for selling.

Should I sell before finding my next home, or buy first?

This depends on your financial situation and risk tolerance. Sellers with substantial equity often prefer to secure their next property first, using bridge financing, then paying off that balance when their current home sells.

What neighborhoods in Reno-Sparks are popular for downsizers?

Northwest Reno and Southwest Reno attract empty nesters seeking established single-story homes. Spanish Springs and Kiley Ranch offer newer townhome options. Many Somersett residents downsize within Somersett itself.

How long should I plan for the downsizing process?

Professional organizers recommend 12-18 months for thorough decluttering before listing. The actual sale process typically takes 2-3 months. Total timeline of 18-24 months from initial planning to settled in your new home is realistic.

Will downsizing affect my property taxes in Nevada?

Potentially yes, in your favor. Moving from an $800,000 home to a $450,000 home reduces your tax basis proportionally. Nevada also offers property tax exemptions for seniors and veterans.

What if I have a 3% mortgage rate — does it ever make sense to give that up?

Yes, especially when downsizing. If you sell and purchase a smaller home with cash, you eliminate mortgage payments entirely — making your old rate irrelevant.

Quality Listings Archives - The Kinney & Renwick Team

Moving, Quality Listings, Reno, Sparks

When the Kids Leave and the House Stays: A Reno-Sparks Guide to Downsizing Done Right

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Quality Listings, Reno, Selling, Sparks

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Moving, Quality Listings, Reno, Selling, Sparks

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