Changes to your work arrangements and shifting family and social priorities leave many people realising their existing home no longer fits their lifestyle.
Becoming an empty nester is a rite of passage for parents who have succeeded in transitioning their children into adults, and it’s at that point where many well-loved family homes turn into cumbersome, high maintenance ageing properties.
While the prospect of downsizing may be daunting, careful consideration of the benefits of a well-planned, informed and carefully selected move will provide a fantastic opportunity to capitalise on a range of benefits available in this new phase of life, including:
Financial Freedom
Selling the family home and downsizing can offer some buyers the opportunity to reduce the size of their mortgage significantly. Some buyers may find the amount of equity in the sale of their existing property will leave them with no mortgage whatsoever following their new purchase.
Decluttering
Although many items hold sentimental value, it can be surprising how many possessions accumulated over the years are no longer needed. Items of value can be sold online or in a garage sale or donated to a worthy charity organisation.
Becoming More Upscale
Downsizing can offer purchasers the option to select a residence that is of higher quality, with premium fixtures and fittings, modern amenities and appliances. And greater energy efficiency.
Two For One!
Buying a smaller, less expensive home means buyers may be in the financial position to consider a secondary residence or holiday home. This option may allow downsizers to secure a residence closer to the family who live in another location or purchase the tree or sea change property they have always wanted.
Security
Downsized properties can provide better security, such as electronic gates, intercom entry and camera surveillance. Secure properties are also great as a ‘lock up and leave’ solution for residents who like to travel interstate or spend time abroad.
Low Maintenance
Smaller properties such as townhouses or apartments are often much lower maintenance than the traditional family home. Easy care courtyards and balconies, as well as a reduction in unnecessary floor space within the property, means there is less time and effort required to clean and care for your home.
Access To Lifestyle Benefits
As your lifestyle changes, the way you spend your leisure time changes too. Downsizing provides the opportunity to investigate new neighbourhoods with offerings that suit your interests such as café’s, parks, beaches, wineries, recreation clubs and walking trails.
Better Floor Plans
Although downsizing typically means securing a smaller home, buyers may find that purchasing a new property offers a more spacious, streamlined floorplan and a more convenient layout. Think ensuites, perfectly appointed guest bedrooms, walk-in robes and European laundries!
With so many upsides, you may be wondering why you haven’t considered downsizing sooner.
If you would like to view some of our properties suitable for downsizing take a look at our properties currently for sale.
