Getting ready to downsize?
You’ve decided the location and type of community you want to downsize to, now it’s time to select the type of home you want to live in. It’s definitely worth putting in the research to find the type of home that’s right for you now, and in the future.
Take a long-term view and think about whether your new home will continue to be suitable for years to come, particularly in terms of home design and surrounding lifestyle benefits including proximity to open spaces and daily amenity. Think about factors like double or single storey homes, entry steps, the width of hallways and doorways, the kitchen layout, and if the bathroom is easily accessible. It’s about future-proofing your home and making sure that that the home you choose can continue to serve your needs for many years to come.
Apartments
Apartments offer a great lock-and-leave lifestyle, which is ideal for downsizers who love to travel, or who have a country or seaside retreat. Often located close to the city or established amenity, an apartment lifestyle means less maintenance and more time for the things you enjoy most.Many apartment developments offer excellent shared communal spaces like swimming pools, gyms, exclusive rooftops and barbecue areas. Depending on your property goals, when the time comes for you to move on, you can either rent out your apartment or sell it for a potential profit.
Townhouses
If apartment living isn’t the right fit for your future plans and you like the idea of having a bit more room, a small courtyard and private entry, then a townhouse is likely to be your next choice. Typically, townhouses can have more spacious interiors and exteriors than apartments, so if you feel the need to practise yoga, a townhouse may be a good option! Many urban renewal communities and residential land communities offer a variety of townhouses with different designs, including floorplan options and facades.
If the townhouse or apartment project you prefer is still in the early stages of development, you might consider purchasing ‘off the plan’. This is a great option if you’d like to have more input into customising the interior of your new home to suit your tastes. Knowing what your new home will look like and having a strong investment in the design will most certainly give you peace of mind.
House and Land Packages
If you’ve found a residential land development you’re eager to downsize to, a house and land package can streamline the process. The two contracts of sale – one for the land and one for the house - come as a complete package, where everything is included and ready for you to move in. Often some of the inclusions can be negotiated during planning with your builder, giving you more input into the fittings and finishes.
A key benefit of house and land packages is you only pay stamp duty on the land, and you’ll be surprised at the value you can get, particularly in greenfield developments where builders offer very competitive packages. This means freeing up more of your capital to enjoy, and having less tied up in your home, which many downsizers look forward to. It also means knowing your costs upfront, so planning your budget ahead is easier.
Built It Your Way
Have your heart set on the perfect lot in your dream location or community? Not a problem! The dedicated land sales consultants can help you prepare for the perfect downsized home on your lot and how to make the most out of orientation, design and landscaping.
Get armed with the right information and move on with confidence
Eager to continue your research? Download our Downsizers Guide below for more information on downsizing into a new home.
