Whether you are approaching retirement age or you are already enjoying a retirement lifestyle, you may start to consider selling your home and moving to accommodation that will work better for you as you age. So what are the options?
Downsizing
A typical choice Victorians make as they age is to downsize. Selling the family home and moving into something smaller has several benefits. It can free up a substantial amount of capital that will boost your retirement savings. A smaller home requires less maintenance and can have lower running costs. And a home without stairs or sloping gardens is a better choice if you have age-related mobility issues.
Retirement or Over 55 Lifestyle Villages
There are a range of different types of retirement villages in Victoria including lifestyle villages for over 55’s. Both bring the benefit of a community-focused lifestyle, while some provide support services for daily activities and others bring resort-like amenities within a relaxed social setting. You can read more about choosing a retirement village here.
Movable Homes or Granny Flats
Movable homes or granny flats are a great way to maintain a degree of independence with the benefit of family support on hand when you need it. Building a granny flat adds value to the existing property and provides the flexibility of using it for aging parents followed by teens or young adult children, or for short or long term rental income. There are different types of movable homes which may offer less permanency than a granny flat.
Remember, if you’re looking to sell the family home our property advocates provide independent support, guidance and advice for sellers with hands-on involvement, also helping you with your next property purchase.
Chat to us about how a property advocate can help you sell or buy in the current market with confidence. Investment buyers can receive invaluable support and guidance through our Buyers Advocacy Service, and for landlords who are selling, our Vendor Advocacy Service helps vendors achieve outstanding results.
To book a free 20-minute consultation, simply click here and choose a time convenient to you.
