Why Linda and Ken decided to downsize in 2023
For them, it was the perfect time!
As more and more older Australians take steps to enjoy a different lifestyle in their golden years, Australia is poised for a home downsizing boom!
People downsize for many different reasons. And they’re all good reasons!
Some people want a more comfortable and convenient lifestyle with fewer chores and more fun. Others want to enjoy a closer connection with their family and community. And everyone likes reducing their expenses and topping up their super to boost their retirement income!
You can make a sea change, a tree change or an urban change!
In short, the benefits of downsizing can help you achieve the retirement you’ve always wanted.
Linda and Ken’s dream retirement
Linda (71) and Ken (73) recently celebrated their golden wedding anniversary. It was a big occasion and their home was full of family and friends.
In an insightful moment, Linda saw that the old house wasn’t her ideal home any more. The housework was too demanding and the kitchen really needed renovating. Ken realised he was finding it harder to keep up with the lawn mowing and maintenance issues, like that patch of rust on the garage roof.
They decided to identify the things in life that really brought them joy as a couple, so they would know what to prioritise in their future. They agreed on:
- The great Aussie outdoors — bushwalking, cycling and road trips
- Family — being close by, feeling connected and engaged with the children and grandchildren
- Convenience — being an easy walk or a short drive to pretty much everything, plus having a good public transport option
- Culture — live theatre for Linda and live jazz for Ken, and
- Financial security — not having to worry about money!
Knowing the important things, Linda and Ken took the next steps to transition to their new downsized home.
Linda began a ruthless decluttering process and Ken turned his mind to the DIY. They organised an appraisal of their house’s market value by a real estate agent and spoke with a financial advisor. They were excited to learn that downsizing would deliver some sizeable financial benefits like the “downsizer contribution” they could both make to top up their super.
Now they just needed to find their new downsized dream home!
Discovering Downsizer’s national marketplace
Linda and Ken decided to stay in the same general neighbourhood but move into a smaller dwelling, ideally something modern and low maintenance, close to the main shopping centre, with good public transport links.
A key issue they encountered was a lack of smaller and modern dwellings in their area. Their suburb was primarily populated by large, single family houses, with only a few villas and townhouses, that almost never came on the market and sold at auction in a flurry of bids. That didn’t appeal to them. They wanted a slower and safer purchasing process where they could have more choice and control.
So they decided to look at buying a new build apartment off-the-plan.
That’s when they got an email with some information about the national marketplace on the Downsizer.com website.
They put in their suburb and discovered a luxury development not too far away with a showroom they could go and visit. The development had a range of accommodation options from studio apartments right up to a stunning penthouse with a wraparound balcony! The communal facilities and landscaping included a courtyard garden, BBQ area, swimming pool and gym. And it was an easy walk to the station and a short drive or bus ride to the mall for the shops, hairdresser, restaurants and movies.
Smoothing the move with a Downsizer Bond
Best of all, the residences were approved for a no cash deposit contract exchange for eligible downsizers with sufficient equity in their current property assets.
Linda and Ken checked their eligibility online for a Downsizer Bond and got a tick of approval.
They exchanged contracts on a 3-bed, 2-bath apartment with a north facing balcony and a fantastic view. When they receive their settlement notification from the developer, they will put their current house on the market and align the dates, so they can move straight in.
“It’s terrific!”
Based on our customer testimonials, our cashless deposit bond is a total game-changer for anyone looking to secure their dream property without tying up their cash or having to sell their current property first.
Downsizer is helping an entire generation to downsize the chores, forget any money worries and upsize the good things in life!
Find out more about a cashless Downsizer Bond by reading the FAQs on our website.
See what’s possible with Downsizer!
Keen to learn more about downsizing? Contact me at Downsizer for a quick, obligation-free chat about your home-buying needs.
