Deciding to Downsize

Deciding to Downsize

By Dominic Hefferan on Mar 20 2018

If you've recently retired, or you're thinking about it, one of the big decisions you need to make is where you'll be living as you enjoy your retirement. You've worked hard to get to this point, so you definitely want to make sure you'll be comfy and relaxed, but what does that mean for you and your property? We're glad you asked.

Be Realistic
It's only natural to get attached to a particular place, but when you're planning for retirement, you don't want to be shackled to your property. Often, your home will be where you raised a family, and as the kids leave you might find you just don't need as much space as before. If you're finding there's a room, or even rooms, that you barely go in any more, it's probably time to downsize.

Be Prepared
Once you decide to downsize, you'll also need to sell your home. In real estate we like to talk about a home being an investment, and this is when it's time to collect.

What you get from a sale can help you finance your lifestyle for years to come, so make sure you research your area to see what you can expect from a sale. You should also talk to a few agents to get some idea of what your property is worth to the market.
Be Happy
Once you know what you could get from a sale, you can start looking at what you can afford for a new home. It's important to stay active, both physically and socially in your later years, so try to choose somewhere that's both close to parks and outdoor activities, and in easy access of a shopping centre or social hub. Remember that this will be where you spend a lot of your time, so it's important you're happy with where you choose.

If this all seems a bit overwhelming, it doesn't have to be. At LJ Hooker Sunnybank Hills, we can offer you a free, confidential consultation about your options, and can help you at every step of the way, so call us today to see what we can do for you.