As a growing number of retirement estates come to market and the many lifestyle improvements
Category CEO's Message
As a growing number of retirement estates come to market and the many lifestyle improvements that result from downsizing your property come to light, you might be tempted to seriously consider swapping your large sprawling home for a much smaller town house or apartment.
I would like to urge you to make this important decision at the right time. (Or urge your parents to consider the options early on).
So many properties that our agents are tasked with selling should have been sold years before they actually come to market. While you might be able to maintain a larger home during your sixties, every decade that passes makes this that little bit more difficult. It also makes it that much more difficult to adapt to change.
The end result is that poorly cared for and dated homes find their way to market and home owners end up losing on what should be the largest investments of their lives. This is a buyers’ market and a young family will be able to drive down your price based on the amount of renovation that will be needed.
Alternatively, if you are forced to sell due to an unforeseen situation such as the death of a spouse, you might leave family members with the expensive, gruelling and time consuming task of fixing your home so that it can be sold.
That said, I would like to warn you that downsizing, no matter how necessary, is extremely stressful and isn’t a process that should be taken lightly. It is important to have the support of a Tyson Properties agent who can advise you and be the voice of reason during what might become an extremely emotionally draining time.
While it doesn’t make sense to keep a large family home when your children have moved away, you need to realise from the outset that your home will not only hold a lifetime of memories but a lifetime of accumulated items. It is often best to begin “down sizing” the contents of your cupboards and even your collection of furniture long before you either put your home on the market or start looking for another one.
For starters, less cluttered rooms might make your home much more saleable. Hard as it is to believe, many people attempt to show homes with so much accumulated stuff that would be buyers struggle to get into the rooms, let alone imagine their furniture in that space (or lack thereof!).
When discussing your decision to downsize with one of our agents, you need to consider both the pro’s and the cons.
In addition to decluttering, you may also need to contend with living in a smaller space, dealing with a body corporate, not being allowed to keep pets and not having a large entertainment area.
But, as your Tyson Properties agent can show you, there are many more good reasons to go smaller. For starters, running a large home is far more expensive and your electricity and water bills will certainly drop. Smaller gardens are easier to maintain and far more rewarding, and keeping everything neat and tidy will take far less of your precious time.
More modern, smaller homes also come with new fixtures and fittings and “green” features such as solar powered geysers and water wise landscaping.
On the more pragmatic side, gated estates are not only far safer but you’ll have the luxury of a lock up and go lifestyle that will make travelling and visiting friends and family much easier.
Work closely with your real estate agent to not only find the best way to sell your home but also to find the smaller home that is best suited to your needs. Location is always important and you should also look at an option that can change along with your needs. Although a frail care facility might not be an issue when you are in your sixties, it will become important in 20 years’ time and buying wisely will ensure that a further move would not be necessary.
When you look at properties, take things like the proximity of shopping centres and medical facilities into account. Look out for clever use of small spaces and smart storage options such as lofts and cupboards under staircases. Most importantly, no matter how stressful, make this a positive move and an investment in a quality lifestyle that you have worked all your life to be able to afford.
Author: Tyson Properties
