New policy from the Labor Government to encourage the sale of the family home has put downsizing back on the agenda for many in their autumn years. Our aging population has become increasingly cash-poor and asset-rich, which has become an issue since the recent spike in food and fuel prices. The option to downsize and…
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With confidence returning to the property market, owners with medium-term plans to sell are asking two key questions. Many buyers want to know if now is the right time to move, and whether it’s best to sell first and then purchase, or to find their next dream home and then put your current place on…
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New data suggests a third of homes across America are being paid for in cash – a classic behavior of downsizers. A report from Redfin says its latest data reveals 33.4%of deals were conducted with buyers who didn’t need a bank loan – that’s the highest level recorded for almost a decade. As an experienced…
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Hardly a day passes without another article published on the wonders of living in regional Australia and how the thousands of sea and tree-changers who’ve bitten the bullet have never looked back. So, as we descend into winter, it’s a great time to consider whether leaving the city for the bush or beach is everything…
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Understanding how real estate agents describe different types of property can be a challenge if you’re unfamiliar with the market. While a picture is worth a thousand words in real estate, they don’t pick up the subtle differences between the array of property types available. These common descriptors will help explain some of the real…
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New rules that allow couples to each put $300,000 from the sale of their primary residence into their superannuation fund tax-free has made downsizing a hot topic. The idea that you and your partner can add a combined $600,000 to your retirement savings has made selling the family home a tempting prospect. Is this the…
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Retiring is a significant life event that can have a major impact on your current housing situation. When it comes to timing, there’s no one-size-fits-all answer. Some retirees choose to move before they retire, while others wait until they have more time to explore their options and then make a move. It’s important to consider…
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Downsizing is one of those decisions that nature can take out of your hands. As you enter your more senior years, the ability, energy and enthusiasm to maintain a family home are no longer within you: and it doesn’t matter what the real estate market is doing. Your approach to the challenge of downsizing can…
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Older Americans have a record-high level of property wealth, according to a new study for the National Reverse Mortgage Lenders Association (NRMLA). Housing wealth increased 1.95% ($11.81 billion) to $226 billion in the 12 weeks to December 31 compared with the previous quarter. It’s the highest level recorded since the study began more than 20…
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New tax incentives for downsizers kicked in at the beginning of the year, allowing owners to contribute up to $300,000 to their superannuation from the proceeds of a residential property sale. The one-off contribution from a property sale will not count against any pre-existing contribution cap and will not be subject to any additional tax…
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