“Downsize to Upside ! ”
The above sounds ridiculous and illogical but many empty nesters and soon to be empty nesters are taking the step to release some equity in their homes and buy something smaller and perhaps more modern.
There are many advantages and a few challenges to this strategy particularly on the Northern Beaches of Sydney.
The upside to downsizing include the following
1] Weekends are not spent maintaining the older family home.
2] The adult children, revolving door syndrome is broken.
3] There is hopefully some spare cash following the move.
4] Life is a little simpler and time doing D.I.Y. is hopefully substantially gone.
The challenges of downsizing
1] Reduced space in the new home may make for a huge adjustment.
2] There may not be much money left particularly if a modern home is sought.
3] If the downsizing involves a change of area then this has it’s own stresses.
The truth is the role of a good estate agent is to do more than just sell houses.
At Kathryn Hall Real Estate we have a responsibility to help people make the right decisions regarding their futures.
It is important to go into any life style change with your eyes open.
The knowledge of what realistically your home is worth along what you will probably have to pay for the next one is critical. Agents who exaggerate what a house may sell to get business, ultimately don’t do a vendor any favors when the sale price is 100’s of thousands less and all that has been planned goes out the window.
At Kathryn Hall we achieve some great prices but we try to provide vendors with realistic appraisals, which help them plan towards a “Downsize” becoming an “Upside”.
Whether it’s Anywhere between Manly and Palm Beach or Dee Why to Terry Hills we enjoy helping Downsizers make a move a reality and come out the other side with a massive Upside.
By Peter Brooks
The information in this article is of a general nature. While care has been taken preparing this information Kathryn Hall Real Estate does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any other purpose that the article may be used. Kathryn Hall Real Estate accepts no liability for any loss or damage (whether caused by negligence or not) resulting from use of information.