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Is It Time To Downsize?

Posted by Rebekah Hutton on Mon, Nov 2019

Is It Time To Downsize?

Exams are winding up for our VCE students and they begin to make plans to celebrate the end of their school years at the infamous schoolies. For many homeowners this means the end of an era. Is it time to think simpler? Is it time to downsize and sell your home?

If your kids have flown the nest and you find yourself in a family home with most of the space now unoccupied, your downsizing journey has officially begun. A minimal maintenance lifestyle is definitely a huge upside to downsizing and making the decision to sell your home.

In Victoria, more and more adults in the age bracket of 55+ are leaving their suburban family homes and buying property such as apartments in urban areas. Not only are these homes easier to maintain but they are also easily accessible to local amenities, cafes, restaurants and facilities. In a busy, modernised and congested society, more people are placing value on time saving and spending more time enjoying life. Convenience is quickly becoming the new Australian dream for parents with adult children.

Downsizing generally also brings the benefit of freeing up some money. After the long hard grind of raising children, it allows you to treat yourself for a change and put yourself first. This new disposable income can allow you to travel, invest in property, pay off the mortgage, or settle into an early retirement. Now that sounds tempting!

Lower living costs are another reason why downsizing is an appealing option. With reduced space you’ll make long-term savings on cheaper utilities bills including gas, heating, cooling and maintenance costs.

If you’ve been considering downsizing, why not speak to your local Hodges property professional today? They will be able to provide you with a free, accurate, no-obligation property valuation, so you have a clear expectation in the current market. We can also guide you through the different types of homes on your downsizing journey that will suit your needs, budget and goals.