What property market movements mean for downsizers

By Rachel Lane

Recent headlines have highlighted apartments rising nearly $100,000 in just a year. For downsizers, these kinds of property market shifts raise important questions: Is now the right time to sell? Will the value of my new home keep pace with what I’m selling?

It’s not just about what you sell for

The sale price of your family home is only part of the picture. The real question is: what are you buying into? A retirement village or land lease community may have a much lower entry cost, but ongoing charges and exit fees also need to be factored in.

Comparing options

A $100,000 swing in property values can make headlines, but even a few hundred dollars in weekly fees can add up to a much larger impact over time. That’s why it’s so important to look at the whole financial picture.

Final thoughts

Whether property prices are up or down, the best decision is one based on understanding both the market and the costs of your next move.

Rachel Lane and fellow finance expert Noel Whittaker are the authors of Downsizing Made Simple, the 2nd edition is out now. The Downsizing Made Simple website is here to guide your downsizing journey with great information, tools and easy-to-use resources.

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The ultimate downsizing guide

Let Noel Whittaker and Rachel Lane guide you through the legal and financial maze, explain how a move can affect your lifestyle, superannuation, pension and benefits, and share some real life stories from readers.

Whether you’re moving to a townhouse or apartment in a strata title development, considering a granny flat or tiny house with family, looking at collaborative housing with like-minded people, or making the move to a retirement community, listen to the experts, and make it your best move.

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