Finding your downsized dream home
How to downsize the chores and upsize the good things in life
When the kidults have flown the nest, most couples have a discussion about downsizing.
Whilst your big family house holds lots of memories from the past, in the present it also requires your time, energy and money to maintain.
Moving to a new place can be an exciting and wonderful challenge as you transition to a new stage in life and prioritise yourself once again.
Moreover, there are many lifestyle and financial benefits from downsizing.
Downsizing doesn’t mean downgrading your lifestyle … quite the opposite!
And if you have a good amount of equity in your current owned home, you could release capital to top up your superannuation using the downsizer contribution and boost your retirement income.
It’s a win/win!
But what does downsizing look like? And what are the factors to consider?
Now that it’s just the two of you, you can envisage a very different lifestyle.
If you like the city, maybe you would like to be in an apartment and enjoy the cafes and boutiques in a trendy inner suburban area.
You may like the idea of a move to the coast to have a sea change … or head inland for a tree change.
You don’t literally have to downsize your physical space, although many people do, in order to minimise the time spent on upkeep and free up more time to enjoy the good things in life.
This is why buying a new-build property off-the-plan with superior design and luxury finishes is often very appealing to downsizers.
A new-build dwelling offers the opportunity to modernise your home with an open floor plan, amazing kitchen and shared amenities that you don’t have to maintain yourself.
For many empty nesters, downsizing can also coincide with retirement which can also open up opportunities for extended holidays and global travel.
Thinking about how you want to live is probably more important than where you want to live.
When you think about your free time, what do you see yourself doing to live your best life?
For example: walking the dog, riding a motorcycle, gardening, tennis, golf, yoga, bush walking, reading, painting, shopping, art collecting, sailing, wine tasting, long lunches, volunteering … just to mention a few activities!
Not to forget spending time with those adorable grandchildren when they come along one day.
What about all my stuff?
The idea of decluttering can be daunting!
It’s a project that will take some time and energy but there will be a big reward at the end. It’s also an opportunity to take a walk down memory lane and redefine what’s really important to you.
You can find some helpful tips on how to get started here.
Deciding when and how to downsize is a personal decision with many factors to consider. If you’re ready to move forward, take a look at Downsizer’s national marketplace to find your new home and play with our snapshot tool to see if you are eligible for our cashless Downsizer Deposit Bond.
Keen to learn more about downsizing? Contact me at Downsizer.com for a quick, obligation-free chat about your home-buying needs.
