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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Property wealth can fluctuate over time, and for many homeowners, there may come a point when downsizing becomes an attractive option. This is especially true for older individuals who have built up significant equity in their homes over the years. If you’re considering downsizing, here are some key points to keep in mind: Understanding Your…
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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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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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