Guide to Downsizing

As house prices in Australia continue to rise, now may be as good a time as any to consider downsizing your home. Downsizing frees you from the cost and time commitment of maintaining a home that’s simply too large. It allows you to unlock your home’s equity, buy a new place and maybe even retire your mortgage.

There are many reasons for choosing to downsize including:

  • Free up some money for your financial and lifestyle needs
  • Move from a home and garden that may be too big and difficult to manage
  • Move from a home where features such as stairs may no longer be suitable for your needs
  • Reduce bills like rising energy and day to day expenses
  • Be free from large bills for repair and refurbishment of your home
  • Move somewhere that offers care, support and company
  • Move closer to children and grandchildren

However, barriers to downsizing may include the sometimes overwhelming process, the hassle and cost of moving, having to de-clutter possessions or for family reasons such as staying close to children and grandchildren.

That’s why multi-award winning PRDnationwide Newcastle and Lake Macquarie has expanded its real estate services to offer advice to those considering downsizing.

With seniors currently comprising 25 percent of the Australian population, it is expected many will choose to move home or downsize to help fund their retirement savings gap. Recognising an opening in the market, PRD Easymove is the next step in the evolution of PRD Newcastle and Lake Macquarie’s continued success in a competitive property industry.