The thought of downsizing your home for retirement may feel overwhelming. It’s a big step, and it can be emotional, but for many people it’s also a path to greater freedom, improved quality of life, and peace of mind.
Why downsize for retirement?
There are several convincing reasons to downsize for retirement, from pure practicality to a desire for a fresh start to welcome in this new season of life.
Here are just some of the key reasons why many people choose to downsize:
- The large family home feels hollow and excessive now the kids have grown up and moved on.
- You want to spend more time doing what you want, when you want, instead of maintaining an old or large property.
- It’s now more practical to live in a modern home that’s designed for seniors.
- You want to lead a more relaxed lifestyle. Retirement villages are often like resorts and make you feel like you’re permanently on holiday.
- You want to sell your existing property and free up some equity to enjoy in retirement.
Of course, this is not an exhaustive list, but rather a starting point for why many people choose to explore downsizing. Can you think of any other reasons why you’d consider living in a smaller home?
Tips for downsizing in retirement
Making the decision to downsize is just the first step. Here are some tips to help you plan for this change.
- Do your research. Visit open homes of smaller properties and visit retirement villages. Get a feel for the average price of your ideal home.
- Make sure the smaller home is suitable for seniors. Smaller does not always equal safer. Look for homes that tick all the right boxes, such as one-level, low-maintenance, and in a safe neighbourhood.
- Consider what else you’d like to live near in retirement. Other than a smaller home, would you like access to retirement-friendly facilities? Many retirement villages have onsite amenities such as a pool, gym, clubhouse, theatre, and library.
- Speak to a financial planner and a lawyer. It’s important to have a good understanding of your financial position before making a decision.
Benefits of downsizing for a retirement village
There are plenty of ways to downsize. You could move into a smaller residential property or apartment building, into a room or studio on a relative’s property, or into a villa in a retirement village.
Of all the options, downsizing for a retirement village comes with the most added benefits. Not only will you get the benefit of living in a better size home, you’ll also be welcomed into a new community of like-minded people and have access to all the facilities and amenities a retirement village offers.
Retirement villages are designed for seniors; everything you could possibly think of is integrated into the design, from grab bars in bathrooms to the absence of trip hazards.
Here are some more advantages of living in a retirement village:
- Increased security. Retirement villages often have 24/7 security and an onsite village manager. The added security is ideal for people who love to travel. Some retirement villages, like Halliday Shores, even provide a secure place for you to store a caravan or motorhome.
- Maintenance-free living. Say goodbye to time-consuming house maintenance and hello to more free time to relax and enjoy life.
- Better views and breezes. Many retirement villages offer lovely outlooks onto private gardens. Upper-level apartments may even have beautiful views.
- Declutter and redecorate. Moving into a retirement village is an opportunity to pass along any unwanted items and update your furnishings to suit a smaller space.
- Community. Retirement villages have thriving communities, active social calendars, and ample spaces for you to connect with your neighbours.
- Ease of living. Enjoy having fewer rooms to clean, no lawns to mow, and if you can, treat yourself to the latest appliances and gadgets to make life as comfortable as possible.
- Financial wellbeing. When you downsize, you might free up some equity for your retirement and reduce your annual bills.
Of course, every retirement village is different, so it’s important to visit the villages you’re interested in to get a better understanding of what they offer.
Life at Halliday Shores
Halliday Shores is a luxury retirement village close to the beach, on the Mid North Coast of NSW, just minutes from Forster. The modern villas are so stylish, you’ll instantly feel like you’ve upgraded your accommodation.
Here, you’ll enjoy a luxury, resort-like lifestyle, with the 5-star recreation centre the ‘happening hub’ of the village. It includes a 25m heated indoor pool, gym, spa, hairdressing salon, library, arts & crafts room, billiards room, internet room, BBQ areas and community hall. Everything you could possibly need for retirement at your fingertips.
So, if you want to know more about the stylish accommodation and vast array of support services and onsite facilities call Janine on 1800 223 733.