C&G’s Guide to Knowing When to Downsize

There comes a time when living in a big home is no longer the joy it once was. Retirement may be on the horizon, children may have flown the nest and priorities turn to travel or living a more urban or rural lifestyle. If you’re nodding in agreement, now might be the time to consider downsizing. In the latest C&G blog, we unpack five reasons why downsizing might be the right option for you.

1.   Maintenance

Do you feel overwhelmed by the maintenance of your house? In the long-term, spending money on house maintenance and repairs can be costly. If there are unused rooms or spaces in your home, think of the heating, electricity or gas bills, that are adding to your overall costs.

 2.   Lifestyle

Thinking about the future and lifestyle changes, could determine whether downsizing is right for you. Are climbing stairs suitable considering health conditions and hazard concerns? Are the utilities in your bathroom functional or appropriately fitted for your physical needs? Downsizing could assist or better your lifestyle changes in the future.

3.    Financial

If you need savings for your retirement or looking to fund other expenses, downsizing can offer you financial freedom. Not only can downsizing reduce utilities costs but allow you to make new lifestyle changes.

4.   Manageable

Apart from the expense of running a larger property, downsizing can help you manage your household chores and cleaning services. With larger houses requiring additional DIY and other handy work, a smaller house can reduce household tasks.

5.   Space

If your children have moved out and you don’t have plans for a gym or home cinema, additional space in your household could be difficult to manage. If your home is rather spacious, avoid additional costs by downsizing to a home that is better suited to your lifestyle.

If you are ready to downsize your home, Chisholm and Gamon are your selling and buying real estate professionals. Offering expert property services in the Bayside area, drop by or contact our friendly team today.

Elwood

03 9531 1245
90 Ormond Road,
Elwood Vic 3184
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Black Rock

03 9589 3133
3 Bluff Road,
Black Rock Vic 3193
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Port Melbourne

03 9646 4444
1/103D Bay Street,
Port Melbourne Vic 3207
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