Good LIVES MAGAZINE Your small pet is welcome! • Your kids promised to move all of their belongings into their own homes (it’s only taken two years) but for some reason everything’s still in your garage • The garden is getting hard to manage, or you’ve got other things you’d rather be doing (golf, anyone?) • Your eyes keep being drawn to the retirement living ads in the newspaper (especially the perfect décor and shiny appliances) • Friends have made the move and are raving about it (and even though you want to tell them you’ve heard enough, you can’t help but feel a little envious) • You want to free up some cash to spend on your lifestyle, including travel (that overseas holiday may be well within reach, and a new car would be nice!). Ok, so that’s a pretty light-hearted look at some of the things that may trigger thoughts of downsizing, but if some of them resonate it’s time to give it more than just a passing thought. One of the more pressing indicators may be that your income is no longer matching the expenses of a big family home, especially if it’s ageing and needs a lot of maintenance.
So where do you start? Consider future needs
Retirement living style
You may be fit and well now, but it’s worth taking into consideration how well your home will accommodate your needs as you age. For example, do you really need a bathtub, or would a walk-in shower be more practical in the future? Are there steps into the house that might be hard to manage later on? Is the entrance under cover to reduce slips in wet weather?
A large village with all the bells and whistles, or an independent living unit in a small group? Your lifestyle and personality type will give you a few clues here – do you love to be around people or do you prefer to do your own thing? There are options for everybody that can be explored by taking a tour and speaking with residents who already live there, and who will give you a warts and all account of their experience.
Finances A financial advisor is a good place to begin your journey, as they can help you better understand your financial position and what you can afford. Look for one that specialises in retirement living. At ACH Group we work with Helen Janetzki from Proxima Financial Services (ph 0412 818 458), but a quick internet search will reveal a number of advisors who can help.
There are lots of things to think about when you’re considering downsizing, and ACH Group would love to help. Call our Real Estate Services Manager Nat Johncock on 8159 3480 to talk about your options today.
Did you know?
Retirement living is open to people aged 55+ who are no longer in the workforce full time. 57