Downsizing Without Debt: How More Henderson and Las Vegas Homeowners Are Buying Their Next House in Cash

If you’ve been thinking about downsizing to lower your expenses, be closer to family, or simply make life easier, here’s a trend worth paying attention to:
More homeowners are buying their next house outright, without taking on a new mortgage. And if you’ve owned your Henderson or Las Vegas home for a while, you may be able to do the same.
No mortgage. No monthly housing payment.

 A Record Share of Homeowners Are Mortgage-Free

According to analysis from ResiClub of Census data, more than 40% of U.S. owner-occupied homes are mortgage-free – an all-time high. That means 4 in 10 homeowners own their homes free and clear.
One big reason for this trend? Demographics. As Baby Boomers age and stay in their homes longer, many have had the time to fully pay off their mortgages. If you fall into that group, you might have more buying power than you realize.

According to analysis from ResiClub of Census data, more than 40% of U.S. owner-occupied homes are mortgage-free – an all-time high for this data series. That means 4 in 10 homeowners own their homes free and clear (see graph below):

One big reason for this trend? Demographics. As Baby Boomers age and stay in their homes longer, many have had the time to fully pay off their mortgages. If you fall into that group, you might have more buying power than you realize.

How Downsizers Are Turning Equity into Buying Power

Your equity is your biggest advantage in today’s market. If you’re mortgage-free (or close to it), that equity could give you the power to buy your next Henderson or Las Vegas home in cash.
That means you could still live without a mortgage payment in retirement — plus:

• Less financial stress as you age

• More monthly cash flow if you buy a smaller, less expensive home

• A faster, simpler closing process

Here’s how it works: you’d sell your current house and use the proceeds to buy your next home in cash. While it may sound out of reach, many Henderson and Las Vegas homeowners are already doing exactly this.

In the latest survey from John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM), agents reported the share of purchases with all-cash buyers is climbing nationally. And those agents are seeing increases in almost every region of the country (see graph below):

For Baby Boomers, It’s About Freedom

For Baby Boomers especially, buying in cash gives you more control over your next chapter. You could buy a smaller, less expensive home and have lower costs, less upkeep, and more flexibility to enjoy what matters most. All while staying debt and stress free.

Because downsizing isn't about downgrading your home. It’s about upgrading your quality of life. And that’s something worth exploring.

Bottom Line

You’ve worked hard for your home. Now it might be time for it to work hard for you.

Let’s talk about what your house is worth, and what it could unlock for you today. What would your ideal home look like if you were to downsize right now?