There are cases where couples, whose children have all moved out, seek advice on organizing their large home. The first questions these individuals, who have lived in Lansing for decades, usually ask are similar. They want to know how much they can sell their current home for, how much their maintenance costs and property taxes will decrease if they move to a smaller home, and which neighborhood is better among those close to churches or the Korean community. The process of finding answers to these three questions is essentially what an agent does.

The role of a real estate agent encompasses searching for listings, conducting comparative market analysis, drafting offers and negotiating, reviewing contracts, coordinating inspection and appraisal schedules, and managing the closing process. If preparing for downsizing, there is one more aspect to consider. Selling the current home and buying a new one must happen simultaneously, requiring the ability to coordinate the schedules of both transactions. So, how much will the property tax be? In Lansing, the situation differs between the east and west sides of the city. The assessed values and tax rates vary by area, leading to significant differences in actual burdens.

We should also address the changes in procedures following the 2024 National Association of Realtors lawsuit settlement. Now, buyers must first sign a written buyer agency agreement before viewing properties. Why is this contract important for those downsizing? It is crucial that the roles of agents and the commission structure are clear for both the selling and buying sides to avoid confusion while conducting both transactions simultaneously. Even for those who have lived in the U.S. for many years, these new documents can be unfamiliar, so it is reassuring to go through each clause for clarification.

Carefulness is also necessary in reviewing contracts and managing closings. Practical coordination follows, such as how many days to leave between the closing date of the current home and the new home, and what to do for temporary housing in the meantime. Since inspection and appraisal schedules must be managed for both properties simultaneously, being able to receive clear guidance in Korean can significantly reduce the burden.

Cultural understanding can be genuinely helpful. Factors like neighborhoods preferred by Korean families, accessibility to church or community centers, and the distance to Korean markets can be naturally reflected in property recommendations by an agent who has been established in the area for a long time. If a child is helping their parents with real estate matters in the U.S. from Korea, they should have experience dealing with issues like international remittance procedures, ITIN, and FIRPTA withholding applicable to non-resident foreigners. Additionally, a community network that can connect them with trustworthy lawyers, mortgage brokers, and inspectors is a great asset.

Looking at the recent market, the median sale price in Lansing is around $150,000, showing little fluctuation compared to the previous year, while other data indicates that last month's median price rose by 7.2% to $140,000 compared to the previous year (Redfin, Zillow, as of 2026). One characteristic of Lansing is that there is a significant amount of leftover funds after downsizing compared to larger cities.

So, how can the leftover funds be utilized? Some retired couples are considering investing the remaining difference from selling their home into smaller properties that generate rental income. However, rental income comes with risks of vacancy and management burdens, so it cannot be guaranteed. The East Lansing area has a steady demand for student rentals from Michigan State University, while the western residential areas tend to be quieter and focused on actual living. Which option is better depends on the desired lifestyle after retirement.

Tax and mortgage conditions can vary by county, so it is advisable to verify based on the actual address. Even if a good school district is needed, boundaries change frequently, so it is recommended to check the assigned school directly before purchasing. This article does not constitute investment or legal advice, and it is advisable to consult with professionals before making any actual contracts.