7 Tips to Downsize Your Home with Style

At some point, there will be a time when you are going to plan on finding a place that will best fit the next chapter of your life.

This process is called downsizing, and it is an important milestone where you are looking to buy a more manageable home and, at the same time, finding a place that suits the lifestyle you want as well as your needs for the years to come.

So as always, we’ve put together our top tips and listed them down here for you, to help and guide you on how you can downsize your home with style.

1. Cut down maintenance

After downsizing, life is expected to be relaxed. With this, it is important that you minimise or cut down on any maintenance-intensive activities, such as cleaning out gutters or maintaining a spacious garden, to make sure you attain enjoyable weekends.

This is also the reason why many apartment buildings are now carefully designed and developed to appeal to the downsizer demographic.

2. Pick a place with great amenities

Although amenity is very appealing to people, you also definitely want one that fits your lifestyle. Besides, as mentioned above, less maintenance means more time for lifestyle.

Because of this, looking for a place with the perfect combination of great amenities becomes an even more important aspect when you’re downsizing. So, the first thing you need to think about is how you would like to enjoy spending your free time and which amenities would suit your needs the most.

Moreover, one of the biggest draw cards of downsizing to some of the newer developments are the exclusive facilities on offer. For instance, an oasis-style pool that’s warm year-round or a gym which is only a short stroll from your front door. There are also communal spaces to consider, such as outdoor barbecue areas and maintained gardens.

3. Be mindful of location

As cliché as it sounds, location is something you should always be mindful of each time you are making a move. Who wouldn’t want to have great shops, restaurants, coffee spots – and other establishments that can add a lot to your everyday lifestyle – near your doorstep, right?

Aside from that, you should also consider a location that has easy access to transport and the CBD so you can go to fun places like museums, theaters, or even have brunch with friends, at your convenience if that is the type of thing that takes your fancy.

4. Look for a community, not just a home

Besides the activities and amenities mentioned above, you also should consider the social scene. You should focus on finding a community where you can meet people with similar interests. This is because a great community that allows you to mingle makes a difference to your sense of safety and security.

What you can do is to find an area offering community-building programs to encourage connection. Some of these include a dog-walking group or planned regular outings for dinner.

There are also some buildings or villages that go the extra mile, such as offering concierge services, just to know what their residents like in terms of community events and programs, and to make sure they are living comfortably.

5. Invest in a long-term option

Smart property selection will make sure that the place you choose will continue to be suitable for years to come. You should be planning ahead and considering aging in the property you will invest in.

An example of a good place to choose is a property that’s roughly 10% bigger than the normal ones. Pick a place that has wider hallways and a kitchen island that is further from the bench topping. You can also have drawers as an extra storage for your cupboards to make downsizing a breeze, effectively future-proofing your home.

6. Look for an excellent outlook

To take life to another level, having an excellent outlook for your home is a great option. It can be the beach or the hills, or anything unique or beautiful that you can sit on the balcony with your family and friends, and look at.

7. Own it 100%

Some of the developments made for over-55s come with a catch. For example, part of the residence will still be owned by the operator; and not only that, as this also comes with ongoing fees and charges. This kind of management cost structure is considered to be old-style and problematic given that the operator will have the right to keep 30 to 40% of the uplifted value when you sell.

You may want to consider purchasing an apartment or villa in a normal strata complex that you own outright, or maybe a lowset freehold house is what you want. Or perhaps try looking for the Over 55 complexes that have a more modern style of cost structure and ownership.

As with anything of this nature, everyone’s individual circumstances are different and so will need to choose what suits them, their lifestyle and budget the best. If we can offer any specific advice to help you, please don’t hesitate to get in touch with our team.