Downsizing for Retirement in Perth - A Handy Guide - Meadowbrooke Lifestyle Estate

1. Downsizing for Retirement in Perth A Handy Guide

2. Why Downsize? • There are many reasons people choose to downsize their home as they near retirement age. • In many cases, children have become adults, packed their belongings, and moved into their own homes. • This leaves the family home a lot quieter - and the homeowners with a lot more space (perhaps more space than they need!). • Whatever your reasons, downsizing to a retirement village or a smaller home makes a requires consideration of many important factors!

3. If you’ve come here looking for help and tips whilst thinking through this process, you’ve come to the right place. We have put together some of the most important things to think on when deciding when and how to downsize.

4. Consider the Cost • There are many aspects that can affect the cost of downsizing - just some of which include where you are planning on relocating to, and what the state of the housing market is when you are looking to sell your old property and invest in a new one. • If you have your heart set on moving closer to the CBD, or setting yourself up in a smaller, upscale apartment near to the beach, you could potentially pay even more than you would for a 4-bedroom house in an outer-suburb. • Moving can also have an impact on your pension entitlements, so it is vital to research your move thoroughly before you make any decisions.

5. Is It the Right Fit for You? • Downsizing may make it possible to move to an area where you have always wanted to live, or to move closer to family members and friends that no longer live near the family home. • It could also give you the chance to redecorate completely, marking the start of a brand new chapter in your life. • Relocation can also be difficult, and it’s important to consider this, too. This is especially true for those who have become a strong part of their local community. • Moving to a different home often means moving to a new neighbourhood completely, and you may find yourself missing your old home and the people who lived there.

6. Is It the Right Fit for You? • It is also difficult for many people to move away from their family home - both for the parents who are moving, and for the children who find it difficult to come to terms with their childhood home being sold. • If you are looking at a retirement village, be sure to research how the community there lives. • Some villages enjoy bustling and friendly circles - which you may end up being closer to than the neighbourhood you’ve lived in for years! Others may not be community-focused. • Whatever your decision, it is important to know before you downsize whether you truly believe that it is the right choice for you.

7. Is There Enough Space? • After years of curating your perfect home - from the dark wood dining table to the very last piece of cutlery - you will find that with the decision to downsize your home comes the necessity of downsizing your belongings. • It seems obvious, but it is a truth that needs to be taken into consideration. Smaller homes are bound to have significantly less storage space than your family home - especially if you are making the decision to move into an apartment or flat. • With less space, and less stuff, comes more freedom, but think carefully about whether you are ready to beginning selling or discarding your old furniture in preparation for your new life.

8. Think About the Future • For many people, the home they decide to downsize to is the home they live in into their old age, and so it pays to think about the future when considering your new abode. • You might adore living close by the city when you are 60, but will you love it so much when you are 70, or 80? • Think carefully about the kind of lifestyle you want to live once you are retired, and try to find a home that reflects that lifestyle.

9. To discover more about the lifestyle waiting for you at Meadowbrooke Lifestyle Estate, visit our website today.