Things to consider before you downsize

People downsize their living arrangements for many different reasons, however, in our current society ageing and not wanting to maintain a big family home is a common factor for downsizing.

If you’re an empty nester who is ready to downsize it’s a good idea to assess your needs before making any decisions.

Same or new area?

Do you want to stay in the same area or will a different suburb suit your needs better as your life changes? Things to consider are:

  • if you no longer commute to work do you still need to be near major arterials or will a quieter suburb suffice?
  • will you need public transport options in years to come if driving is no longer viable
  • will having medical facilities available in the area make life easier?
  • proximity to leisure activities and social groups may help you feel less isolated.

Bedrooms

Now that you’re downsizing how many bedrooms will you need? Will one be enough or will you regularly have guests or grandchildren stay over in which case you may need to consider a small house or unit with 2 bedrooms.

Storage

A smaller home typically means less storage space and less rooms to store things in. Will you be comfortable getting rid of a significant amount of belongings when you move? The harsh reality is you may need to give up treasured items or replace furniture you love because you simply won’t have the space to keep them.

Neighbours

You may find downsizing means you’ll be living in closer proximity to neighbours. This can be difficult if you’ve come from a large block with plenty of privacy. Researching the different types of properties: townhouses, apartments, units may reveal a living arrangement that is preferable for you.

On the plus side, you may benefit from having more of a ‘community’ feel with support nearby if you need it.

On your own or in a community?

Would you prefer to live in an independent unit or house or in a retirement community? If  having like-minded people nearby, the ability to participate in communal activities and assistance within hands reach, a retirement village might be the way to go when it comes time to downsize.
For more information on downsizing download our

Share:

More Posts

Home styling tips that won’t cost you a cent

It is so easy to update your interiors, now more than ever with the prevalence of online stores and the many homewares stores around but what if you simply don’t have the spare cash right now to update and improve your interior décor? Read on for some super savvy tips on ways you can update without shelling out any cash.

BMT answers your depreciation questions

The complexity of depreciation unsurprisingly has many scratching their heads. While investors don’t need to be depreciation experts, BMT Tax Depreciation has answered some of the most common questions on this area of taxation for you. Q. What is depreciation and how does it work? It’s the natural wear and tear of a property and assets over time. While all

April Market Update

April Market Update The first month of Q2 has started off strongly, with no new records set, but performances that have continued to be solid. Houses are selling well at auction, and although Melbourne’s clearance rate for April of 69.9% is 4.4% lower than the result for March, it does reflect a level of consistency. The result is also the

March Quarter Update

“Unprecedented” was one of the most commonly touted words of 2020, frequently used to describe the events being experienced due to the COVID-19 pandemic. Its use, however, has continued in earnest in 2021, but this time in relation to the increasingly robust activity being witnessed in the Australian property market. 2021’s Q1 results have delivered record outcomes in a number

Send Us A Message