One of the questions that we got asked a lot is about downsizing.
Is this something you should consider and would benefit you?
The answer can be different depends on your situation and we are here to help.
The main reasons why people are thinking of downsizing could be because the family is now shrinking after all the children move out, the property is now too big to maintain or potentially they want to be travelling a little bit more.
By downsize to a smaller property, it could free up capital and provide yourself with the nest egg. If you want, you will be able to give financially to your love ones. Smaller house can also mean less stress in upkeeping the property and less cost in maintenance.
To make the transition as stress-free as possible, these are the things you can do before downsizing.
Some of the things you should do is to get legal and financial advice, research the area that you are potentially moving to and discuss it with family and friends.
Downsizing can be beneficial but may not be suitable for everyone. It is more than just moving to a smaller home and also means a change of lifestyle. So, make sure you take the time to assess your options.
Alternatively, speak with a professional real estate agent in your area for different options available.Yes, I would like to know more.