The benefits to downsizing have always been apparent. A smaller home means less maintenance, less cleaning and lower running costs with less bills to pay. Not only this but it also often means no stairs, a great reason to downsize as you age.
A new government incentive set to take effect in 2018 raises the bar and means there is yet another reason older Australian’s should seriously consider the move to downsize.
“Older Australians who downsize their home will be able to pump an extra $300,000 each into their superannuation fund from the sale proceeds.
The incentive, to start from July 2018, is designed to remove a key barrier to downsizing and free up larger homes for younger families.
Some retirees will also benefit from pensioner concession cards being restored to people who lost them when the tougher assets test came into force in January this year.”
“Eighty per cent of retirees own their own home but they don’t have much superannuation to live off,” Mr Andriessen said. “Downsizing to free up capital makes a great deal of sense for many Australian retirees and pre-retirees.”
With the market slowing and house prices stagnating in Perth there is opportunity to purchase land or an older home in a desirable suburb at a more affordable price than in recent history. Why not take the opportunity to downsize to a more manageable brand new home in which you can incorporate all the luxuries you desire without the added things you don’t.
Some key design features and trends we have recognised at Steadman Building Group that are truly important to our clients, include ample entertaining spaces, a large luxurious master suite, interconnecting kitchen and laundry facilities and manageable gardens.
Get in touch with our sales manager James Crabtree today to discuss the downsizing options available to you. We have both ready made plans and can also custom design the perfect home for your needs.