ZIRCON LIVING BLOG

Downsizing: When Is The Right Time?

Are you in the chapter of life where downsizing is the inevitable next step? Transitioning from a large family home to somewhere smaller can feel like a daunting, yet obvious choice when retirement is on the cards.

However, for others figuring out the timing of such a decision can feel murky, and we have often met ‘downsizers’ who were reluctant to take that first stride forward into this exciting life chapter.

Here at Zircon Living, we have some guidance on what the right approach might be for getting the best outcome for you.

 

Firstly, do any of these scenarios sound familiar? Here are the common catalysts for downsizing

There are many reasons that lead to the decision to downsize. Here are 5 reasons that may trigger a downsizing decision.

  1. An individual or couple is ready to retire – This is the most common reason we see as a trigger to downsize. After all, downsizing can help fund your retirement, and pay off any lingering debts you may have.
  2. You are ready for a simpler life– With a desire to live with less clutter, and to have more spare time up your sleeve. Moving from a larger home compels you to clear out belongings you may have been hoarding. It also means less time spent cleaning and maintaining the actual property or tending to your garden.
  3. Ending of a relationship– Whether you are going through a divorce, or one partner has recently passed away; downsizing can help alleviate the stress of this life event, and it gives you a fresh start.
  4. Environmental reasons– With a desire to go greener, you realise that a smaller property reduces carbon footprint and minimises energy use.
  5. The property you are in is simply too big– You are tired of the upkeep, maintenance costs and the endless weekends spent cleaning. With the kids having flown the nest, downsizing only makes sense for you.

 

Are there any advantages to downsizing sooner rather than later?

The decision to downsize from a larger family home can be an obvious one when you’re thinking about retirement. But for some people, this can be something to consider sooner, rather than later.

Are there any advantages to doing so? In fact, there are. Apart from alleviating yourself from debt, downsizing is the perfect time to declutter, and to find a home that works for you. Oftentimes, we see couples downsizing only when retirement is knocking at their door, and more often than not, they always say, ‘we should have done this sooner!’. Downsizing once your home no longer suits you, or once the kids have flown the nest, gives you more flexibility to choose a home you can grow into over 10-20-30 years.

Not to mention, the process of moving and downsizing is less strenuous when you aren’t in the latter end of your years.

 

Are there any cons to consider when downsizing?

Of course, there are always two sides to every coin. We have also listed three roadblocks for you to consider, on whether now is the right time to downsize.

  • The costs of moving: Moving to a new house isn’t cheap, so you’ll need to factor in several costs. These includes, the selling of your current home, building inspections, buying a new home, and the removalists you will need to hire to move items from your old home, into your downsized home. Some individuals also pay additional fees for advertising their home as it goes into market, and for a property stylist to present the home for home opens.
  • The sentimental and emotional strain: If your children have grown up in your home and it holds many memories for you, have you come to terms with selling your home today? Think about how you may feel about letting go, are you ready?
  • Adjusting to reduced space: Downsizing often means getting rid of things – furniture, collections and other items that may have sentimental meaning. This can mean making some hard choices.

 

How can custom home builders Perth help you make the right decision about when to sell?

At Zircon Living, we have worked with several individuals and couples who are ready for the downsizing phase of their life. We meet people where they are, understand their lifestyle and guide them through this journey into such an imperative life stage. Why don’t you contact us for an obligation-free conversation, to see how we might be able to guide you. You are also welcome to visit one of our display homes in Perth, to get a feel of how our homes might marry into your specific life stage.

Contact Zircon Living today, and visit one of our luxury display homes Perth.

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