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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Downsizing the family home is becoming an increasingly attractive option for aging property owners who may be asset-rich, yet cash-poor. Once the children have flown the coop, hanging on to the family home can become needlessly expensive, maintenance can become burdensome and cleaning steals hours from your week. Now that property prices have achieved record…
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Downsizing is a significant moment in the lives of many folks. It’s a time when you can scale back and enjoy the freedom of an empty nest. Selling the family home to live in a smaller property requiring less maintenance is an attractive proposition for many in their 50s and 60s. And the profit of…
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Downsizing your property is often painted as the solution to every homeowner’s cash flow challenge once they retire. And in the current environment of rising mortgages and living costs, downsizing is on the mind of an increasing number of homeowners. Selling your home for a profit and purchasing smaller, more suitable accommodation may be the…
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Downsizing is becoming an increasingly attractive proposition for those entering late-middle age and even younger owners concerned about the ongoing costs of maintaining a large home. The National Association of Realtors (NAR) says one-in-four transactions now involve a seller seeking to downsizer. And data from Freddie Mac suggests the supply of new smaller homes –…
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Homes that have been recently remodeled or well-maintained often attract significant buyer interest. This trend reflects the challenges many buyers face when considering properties that need substantial work. Whether you’ve added an extension, updated a bathroom or kitchen, or made other significant improvements, these enhancements can make your property more appealing to a wide range…
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Downsizing your property is often described as the ideal solution to every homeowner’s cash flow challenge once they retire. The instruction is simple: sell the family home, buy a smaller one and pocket the profit. This basic strategy for downsizing is on the mind of an increasing number of homeowners in the current environment of…
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As our aging population becomes increasingly cash-poor and asset-rich, the option to downsize their properties becomes increasingly attractive. Once the children have flown the coop, hanging on to the family home becomes needlessly expensive, especially in these days of skyrocketing gas and electricity prices. Generally, the family home can be said to be “not fit…
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As Australia’s aging population becomes increasingly cash-poor and asset-rich, the option to downsize their properties becomes increasingly attractive. Once the children have flown the coop, hanging on to the family home becomes needlessly expensive, especially in these days of skyrocketing gas and electricity prices. Generally, the family home can be said to be “not fit…
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If you’re approaching retirement or have just crossed that threshold, this type of social commentary in the media isn’t what you want to hear. Thankfully, one of the possible solutions is to downsize your home, transforming the value in your current property into savings that can support your retirement lifestyle. Of course, it doesn’t take…
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