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HOUSING needs change with time, and never more so than in the over 55 year age bracket.
While location to work and commuting times may have once been a key influencer, retirees no longer need to focus on these issues.
Space is another concept that changes over time, particularly once children have left to establish homes and families of their own.
“Downsizing” is a buzzword often used by empty nesters and retirees.
Downsizing essentially means reducing the size of your home – usually by selling your existing property and moving to somewhere smaller.
There can be real value for many older Australians in using equity from their family home to provide them with a better standard of living as they age.
Many retirees will attest to the fact that downsizing your current home can make it easier to upsize your lifestyle.
For people wanting to liquidate some of the equity in their existing property, downsizing may be a way to achieve this, but only where there are viable options that are both cheaper and attractive.
That said, some downsizers actually choose to spend more on their next home, and move to a smaller but more luxurious or better located property.
According to Domain.com.au, one of Australia’s leading property websites, a new trend is emerging among wealthier soon-to-be-retirees to move purely as a lifestyle choice.
It’s important to appreciate that any type of downsizing or move in retirement is more than just moving house – to be successful there needs to be a considerable amount of research, planning, soul-searching, preparation and disposal of possessions, all of which can take a lot of time.
The Mid North Coast of NSW has long been seen as a prime retirement location, with a steady stream of retirees from Sydney, the Central Coast and other parts of Australia relocating to the region.
The largest increase in population in the Great Lakes local government area between 2011 and 2026 is forecast to be in the 75 to 79 age group, which is expected to increase by 1,021 and account for 7.4% of the total.
One factor which continues to draw people to the area is the supply of innovative and affordable housing options for older people.
Over 50s looking for a friendly and secure environment are spoilt for choice, and many purpose-built retirement living properties boast beautiful surrounds, resort-style facilities, low maintenance homes and friendly, ready-made communities.
Advice on retirement living options is also readily available, with on-site staff and existing residents keen to share their experiences and offer inspection tours.
Why not make retirement the time of your life?
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