Downsizing made easy: How Carolyn and Rob bought their new dream home
Are you struggling to come up with the funds to put down a deposit on your dream apartment?
Carolyn and Rob are a professional couple in their late 50s. Carolyn is a physiotherapist and Rob is an engineer. They have two adult daughters who have recently moved out of the family home.
The couple plans to retire in a just a few of years time when they can both start drawing down on their superannuation.
Rob has always dreamed of retiring at 60 and playing more golf, while Carolyn quips that ‘life starts at 60’. The couple wants to travel and enjoy their golden years without any financial or lifestyle stresses, so they want to get rid of their mortgage and downsize the household chores like lawn mowing and cleaning.
Their main financial objectives in retirement are to have enough money to enjoy all the good things in life and to help their children financially. They would like to help their children get onto the property ladder by helping to fund a deposit. But at the same time, as self-funded retirees, they will need to make sure their super will last.
By downsizing, Carolyn and Rob will unlock meaningful financial benefits for themselves and their family. This will set them up to enjoy their retirement, free from mortgage stress and money worries.
The downsizing dilemma — how to fund the deposit?
Carolyn and Rob have been living in their family home for over 20 years, but now they are both approaching a “milestone birthday,” they have decided it’s time to downsize! And they’ve got their eyes set on a brand new off-the-plan apartment in a prestigious new-build development.
There’s just one problem.
All their money is tied up in their house and their super. So they don’t have any spare cash to fund the 10% deposit required to secure the new apartment.
Thankfully, the sales agent at the development told them about Downsizer and how we specialise in solving exactly this problem.
Our cashless deposit bond is backed by the equity in your current home and allows you to secure your dream property without needing to put down a cash deposit on exchange of contracts.
Carolyn and Rob were thrilled to learn about this option and quickly reached out to me at Downsizer to learn more. As they have sufficient equity in their family home, they were able to qualify for a Downsizer Bond quickly and easily. Now they are excited to be moving forward with their apartment purchase and planning the next chapter of their lives!
See what’s possible with Downsizer
If you’re looking to downsize your home — but struggling to come up with the funds for a deposit — find out if you are eligible for a Downsizer Bond! Just play with our affordability widget to see what’s possible with Downsizer.
Based on our customer testimonials, our cashless deposit bond is a total game-changer for anyone looking to secure their downsized dream home without tying up their cash or having to sell their current property first.
If that sounds like you, please get in touch!
Curious to learn more about downsizing? Contact me at Downsizer for a quick, obligation-free chat about your home-buying needs.
