The Downsizer's Guide

Our family is here to help your family

We understand the value of your family home because we’re a family owned and led business, with experience passed down through four generations. We understand the transition process and the emotion involved when someone leaves their longtime home. We take the time to understand your needs and what it means for you to consider the sale of your home and reposition into another home There are many factors to consider –for example the maintenance and suitability of your home as you enter into another phase of your life. Through our understanding and respect of your position, we’ll make the experience more enjoyable and satisfying

Brian White AO, Chairman, Ray White Group

Proudly 100 per cent family-owned and operated within the Ray White Group, Loan Market is one of the largest and fastest growing retail mortgage brokerages in Australasia Today Loan Market works with a panel of 60+ lenders and supports a network of over 650 brokers across Australia and New Zealand.

Concierge is Ray White’s moving service Through Concierge, vendors and purchasers of property through all Ray White offices have access to a range of complimentary professional services to help with their property transaction These services range from providing a complimentary insurance period for your new home, to helping you find a removalist, tradespeople and decorating your new home with beautiful artwork. Ray White Concierge will take care of you, whether you’re currently considering downsizing or would like to downsize in the future

Your guide to downsizing

The only constant in life is change. While the thought of selling your family home and starting a new chapter of your life may feel overwhelming, it also creates the opportunity to take control and enjoy what’s important to you – your family, your security and your finances

Downsizing into a smaller and more manageable home can free you from the stress and cost of maintenance. It can also alleviate concerns around your own safety as you age/move into a later stage of life We understand that selling one home and moving to another can be daunting Every day, Ray White downsizing sales specialists help singles, couples and families work out the value of their homes and then create a plan for all the next steps. It may be an urgent move or it may be a 12 month plan – or longer. It doesn’t matter - this is what we do.

Our advice is to start planning today And with our team of experienced Ray White downsizing sales specialists by your side, we can help guide you in your journey

We offer a range of services from assessing the market value of your home (months in advance) with no obligation, preparing your home for the sale, removals, utility connections and even through to pet transport Your Ray White downsizing specialist can guide you all the way

A February 2020 study conducted by the Australian Housing and Urban Research Institute revealed that over 70 per cent of people over the age of 50 are either currently considering downsizing or would like to downsize in the future

Easier and lower maintenance allows increased independence and a more relaxed lifestyle

Financial benefits You might be asset rich, but cash poor Downsizing allows you to tap into the equity locked in your home and liquidate this asset.

Location and lifestyle change Selling your existing home may open up the opportunity to relocate to a new area as you approach retirement

Upgraded amenities that match your changing needs which may include access to public transport, shops and parks etc.

The Government offers financial incentives to assist downsizers, which include the ability to make a voluntary contribution into your superannuation from the proceeds of selling your home This can further help set you up for retirement

Visit www.ato.gov.au

How can Ray White help you?

Current market value of your home

To understand your property value, many factors must be taken into consideration. With years of experience & knowledge we can provide comprehensive information and research around property values in your area, backed up by Australia’s largest real estate brand

Loan and refinancing assistance

Our finance arm Loan Market will save you time and hassle by doing all the legwork for you. Whether you’d like to understand your options, maximum borrowing capacity or if refinancing is right for you, Loan Market can help They’ll make the process simple, cut out the financial jargon and help ensure you’re in a strong negotiating position.

Sales strategy

Ray White helps more Australians sell their home every year than any other property group. Together we can build a sales strategy for your home to achieve the best possible result for you, backed up by our strong team & marketing systems already in place

Removalists

We’ve made it easy to find removalists for your move We’ll send you up to three free quotes to compare removal services in your local area to help you move into your new home. Simply compare the quotes and choose the best service for you! Save yourself ringing around, find your removal service at homeimprovementpages com au

Home improvement services

With an extensive rent roll we have the best tradies in the area ready to assist Concierge are also on hand to assist with free quotes from the best of 100,000 trustworthy and licensed tradespeople, taking the stress out of finding the right person for the job.

Building and pest reports

Most contracts of sale will require you to complete a building and pest inspection before finalising your property purchase We can assist you in arranging these inspections at the best possible prices with fair & in depth reports

Vouchers for artwork and wellness

Buying and selling a house can be stressful but we want you to love your experience with Ray White Treat yourself to 10 per cent off gift cards and 15 per cent off products at endota spa, as well as a $100 Art Lovers Australia voucher to decorate your new home.

Pet care and transportation

Concierge can help you arrange pet accommodation and transport during your move or while your house is listed for sale Call Concierge on 1300 729 944 to find out more or email concierge@raywhite com

Utility connection and disconnection through Ray White Home Now

Phone, electricity, gas and other related services; this service can save hours of time and multiple phone calls to various utility providers It ensures the connections are actually taking place when and where they’re supposed to, as well as providing support if something goes wrong Contact Ray White Home Now today on 1300 862 255

Not sure where to start?

Talk to your family about your wishes to sell the family home, so they are part of the process from the start

There’s never an easy time to let go of a family home and it’s normal to have some trepidations

Open communication with other family members can help the decision come more naturally, and generally help achieve a better outcome

Downsizing can allow you to liquidise an asset which may help set you up financially as you approach retirement It’s worth considering including the opportunity to make voluntary contributions into your super (read more at www.ato.gov.au) and whether selling your home will impact your pension (read more at moneysmart.gov.au).

Contact us for an obligation free, complimentary property appraisal Once you have a better understanding of what your current property is worth, you can begin planning when and how you should take your property to market, and how much you can afford to pay for a new home or rental. This could be simply in a smaller property or perhaps in a retirement community

Relevant experience selling properties similar to yours in your price range. Strong reviews and positive feedback from past clients

Local knowledge of the market and how to sell for your neighbourhood

Large database of active buyers who could be interested in your property.

Good honest communication and personal rapport with you and buyers

Professionally licensed in your state

Is sensitive to the emotion surrounding selling your home.

Will help make your transition as seamless as possible

5. TALK TO A TRUSTED MORTGAGE BROKER

Mortgage brokers work in your best interest, to find the right finance solution for you A Loan Market mortgage broker will help you understand your options and the right way forward when it comes to downsizing your home This includes, organising a bridging loan to cover the period between when you buy your new home and when you sell. If you don’t already have a trusted mortgage broker, we’ll put you in touch with our local Loan Market broker.

What are the costs involved in selling my home?

As you consider listing your property, one major question on your mind could be - what are the hard costs involved in selling my home? Of course, fees can vary widely, however as a guide, here’s a list of costs that you should factor into your decision making:

Agent costs

A real estate agent’s job is to deliver the best possible sale result to you They are experienced in strategising, marketing and negotiating the sale of your property. Generally, agent costs will be tied in as a percentage of the end sale price. This will vary from agent to agent and state to state.

Legal/conveyancing fees

Transferring legal ownership of a property from one owner to another is required for every property sale Talk to us for more specific cost information for your budget.

Maintenance fees

Showcasing your home’s best features is an important way of converting soft leads into hard leads through online and private inspections, and ultimately a key way you can achieve the best sale price Typical maintenance fees include gardening, repairs, renovations etc

Marketing costs

Effectively marketing your home is the key to attracting buyers for your property The more potential buyers, the greater the potential to deliver the best result, so investing in marketing is an extremely important factor in determining the sale price. This will involve the online listing component, photography, creating a floor plan, copywriting, a sale board and various other marketing methods Speak to us about a tailored marketing plan for your property and the costs involved to better plan your budget

Refinancing fees

Refinancing can help you secure a lower interest rate on your home loan, consolidate debts or even pay off your loan faster Remember to speak to your broker regarding hidden fees such as discharge, application and settlement fees

Sell first vs buy first

Often selling your current property will mean buying another one at a similar time

This poses a few common questions among people making two very big decisions within a small period of time.

So which comes first? It’s never an easy call. Here’s some hypothetical scenarios involving each option.

• You can wait until you get the price you’re really happy with for your existing home with no pressure

• You can go shopping for your new home knowing exactly how much you’ve got to spend

• You’ve got time to shop around and possibly negotiate better deals, particularly if your buyer agrees to an extended settlement period.

• You can avoid the hassle and expense of bridging finance – which you’ll need if you end up owning two properties at the same time.

• You can spend as much time as you like shopping around for your ideal next home, instead of feeling pressured to take anything just so you’ll have somewhere to live.

• You may have to get bridging finance to fund both properties while you’re changing over - an expense & time consuming process

• You may feel pressured to accept a lower offer as your new home settlement gets closer.

• You may not get as much as you hoped for your existing property, and have to make up the difference with your savings or a larger loan

Who will buy your home?

The decision to downsize your home can be closely linked to planning for retirement, family situations changing, or a planned shift in lifestyle. Whatever the scenario, getting the best result in the sale of your home will help future-proof you and your family for the transition that lies ahead.

Finding you a buyer: Buyer groups

We can assist you in identifying as many potential buyers as possible to give you the best chance of getting a great sales result Some of the key buyer groups interested in your property:

Growing families

Upsizers Investors

House flippers

Who is looking to buy in your area?

With2highprofileoffices&over28dedicatedsales,marketingandpropertymanagement specialists we average 52 open homes every single week & meet more buyers than any otherlocalagency.

And unlike other agencies, our databases are combined to ensure unrivalled buyer exposureforyourproperty.

Our experience shows us that there are two distinct types of people in today’s property market

Dedicated property hunters

These potential purchasers are actively looking to buy in your area and are always on the lookout for available properties. They will often be in close competition with similar purchasers in their demographic

Spontaneous property buyers

These potential purchasers are not actively looking, however, when the right property grabs their attention they are suddenly interested.

DEVELOPERS

• A location close to community hubs like transport and shops

• An attractive return on investment

• Sizable land area

INVESTORS

• A location close to amenity, transport, shops and schools

• Strong rental activity

• Future growth potential

• Low maintenance

LOCALS

• Up sizing or downsizing

• Investing close to home

• Wanting to remain near family or schools

• Staying connected to the community

• Working close to home

PEOPLE NEW TO THE AREA

• Looking for a change of lifestyle

• Looking for a property hot spot

• Well-known schools, shopping and culture

• Potential growth

Getting your home ready to downsize

You may not feel ready to downsize yet, but it’s a good idea to think about your five or ten year plan and beyond. The options are varied and looking ahead can make the process even easier. For example, you might be healthy and independent but you just don’t need the extra space, so downsizing into a smaller house or apartment that is designed to support you as you age is a great way to prepare for the future.

Whatever stage you’re at, it’s a good idea for you, or your children, to start thinking about where you’d like to live and the steps you need to take.

1. Declutter

2. Get started

3. Prepare to move

4. Moving day

5. Settling in

STEP 1 - Plan ahead

It’s never too early to start clearing out large and small items you don’t need

1 Make notes about what you would like to give to family and friends, or even use coloured stickers on the items you want to leave to certain people.

2. Make a file of all your important documents like your passport, will, medical records, birth certificate and Enduring Power of Attorney and keep these handy

3. Dispose of documents you don’t need (be conscious of privacy - you may need a shredder for safe disposal).

4 Toss any old medication, household cleaners and junk

5. Donate any usable clothes, furniture, crockery and linen to charity.

STEP 2 - Get started

1. Use an exercise book or folder to keep information related to the move in one place.

2 Create a to-do list and keep a calendar of important dates

3 Set aside an hour or two each day to pack one section of your house so you don’t get overwhelmed by the task ahead.

4 Check when your area has its next rubbish collection

STEP 3 - Prepare to move

1. Ray White will get you quotes for removalists. Remember to keep a copy of the contract with your chosen company

2 We’ll help organise your mail redirection and notify organisations like banks, health insurance, utilities, accountant, solicitor and social clubs once you know your new address.

3. We’ll organise for the utilities to be connected to your new home with Ray White Home Now. We’ll help you compare different providers so you get the best deal

4. It’s helpful to make a floor plan of the new home and plot out where your favourite furniture will fit. Include accurate measurements and where the doors, appliances and windows are.

5 Pack an overnight bag with your essentials like toiletries, medication and a change of clothes .

STEP 4 - Moving Day

1. Confirm the arrival time with your removalist the day before and how you have to pay them.

2 Make sure you have someone helping you on the day, especially at the other end

3. Set your bedroom up as soon as possible, so you have a cosy place to curl up and rest at the end of the day.

4 Reach out to family & friends or hire some help to get unpacked and organised

STEP 5 - Settling in

1. If you’re moving outside of your local area, take a walk around your new neighbourhood or facility and discover where to find your local café, hairdresser, supermarket and medical centre

2. Work as quickly as you can to make your space feel like home again.

3 Be kind to yourself Moving is a big life moment and people can react in different ways

About Ray White Tugun | Elanora

For some its business, for us it’s family.

RWTE has been family owned and led for over 10 years, in that time we’ve worked extremely hard to build a genuine team of highly skilled, local professionals who share our passion for people and property

Since 2008 we’ve called Tugun home – living, working and investing in our unique coastal community and we’re extremely proud to be the Number #1 agency in the #4224 postcode Then in 2017 John and Caroline Tymon together with John Parkes added Ray White Elanora to our growing family Combining an experienced successful team with a progressive culture we are relentless in our desire to create the best full-service Real Estate experience possible.

Now with 2 high profile locally focused offices and over 25 dedicated sales, marketing and property management specialists servicing everywhere from the beach to the valleys we hold more open homes, speak to more buyers and sell more property than any other local agency

So, when you’re ready whether it’s buying your first property, up-sizing, down-sizing or finding a place to retire let our family help yours make their next move

We look forward to sharing your Real Estate journey.