Whether you are downsizing to retire or to release equity in your home, PropertyMash has all the information you need. No matter why you might want to downsize or move, we can help you choose the perfect apartment, townhouse or house and land estate for you and your future. We’re also here to help you remember the little things, like how to minimise your belongings and choosing the right storage location if you need it.
What is downsizing?
Downsizing, in it’s simplest form, is just selling a property to buy a smaller one. People downsize for many different reasons: their children may have grown up and moved out, or it could be that they need a property that requires less maintenance so they can spend more time with loved ones, or perhaps it’s just that they want a change of location, or a property that is easy to ‘lock and leave’ so they can travel more. For many, downsizing is also a financially driven decision. Selling a larger property and buying a smaller one generally frees up money for the owners, giving them more expendable cash to enjoy.
Whatever the reason, there generally comes a time when the family home has done its job and you need something smaller, which is where downsizing comes in. Downsizers may choose to buy a new apartment, townhouse, a smaller house, build a granny flat, buy in a new estate, or buy in retirement villages.
If I want to downsize, what should I keep in mind?
When downsizing, whether it is to a smaller house, estate, townhouse or a new apartment, the one thing you are going to need a lot of is storage. Look for clever floor plans with built-in storage, large garages or storage cages in the basement of apartment blocks. Other things to consider when downsizing are the location, transport options, accessibility, and ongoing cost and maintenance. For many, the home you downsize to will be your primary place of residence until you move into a proper nursing home, or die, so choose wisely!
From deciding on the best time to downsize to decluttering to be ready for the move, read everything you need to know about downsizing here!
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