Since last year’s introduction of tax concessions for Australians aged over 65 for superannuation contributions derived from property sales, the rate of downsizers has seen a steady uptick. The trend has been particularly popular among empty-nesters who are saying farewell to unused spare bedrooms, laborious backyards and the ongoing maintenance of the traditional family home.
Today we’re exploring some of the many benefits of selling up in favour of an apartment lifestyle.
With Australia’s median house price increasing a whopping 412% over the last 25 years, many mature Aussies have found themselves resting on a very healthy nest egg. Selling up the big family home can mean a significant cash injection into the retirement fund.
Whether it’s buying a Winnebago and motoring off on that much-anticipated trip around Australia, hitting the tarmac for a summer abroad or simply having a little extra cash to splash on time with the family, many Australians are keen to go from being asset-rich to cash rich in their golden years.
Ease of lifestyle:
After decades of busy working life and managing a full household, mature folks are well and truly ready to enjoy a more fuss-free lifestyle that downsizing can provide.
Many multi-residential developments provide a range of state-of-the-art facilities such as gyms, pools, home cinemas, libraries, large dining rooms, rooftop barbeque areas and more, creating a greater standard of living and simplicity overall. Likewise, ground level retail spaces offer convenient access to supermarkets, restaurants and cafes, beauty salons and more, meaning residents need only pop downstairs for their day-to-day essentials.
Builder-developers such as Pace Development Group ensure new apartment residences are situated in well-connected areas where residents have all they need at their fingertips, such as public transport, community services, schools, hospitals and retail.
Many empty-nesters can find the transition into middle and senior life quite challenging. As children grow up and lead more independent lives, and day-to-day parenting obligations elapse, the once bustling family home can start to feel a little desolate.
Multi-residential living comes with the added benefit of cultivating close knit relationships among neighbours and promoting an important sense of community. Whether it’s finding a workout buddy at the gym, dropping in for a cup of tea with a neighbour or hosting a barbeque on the communal rooftop, people in multi-residential developments are sparking up new friendships every day.
Anyone who has blasted the air con throughout a scorching summer or heated the house over a chilly winter will agree that the cost of living in a big home can be startling.
Not only does a more compact apartment space mean reduced consumption and money saved, but residents can feel good knowing they’re minimising their carbon footprint. Pace developments are being built with the environment top of mind, making best possible use of natural light, window glazing and ventilation for a greener and more economical lifestyle.
The holiday house:
To own a holiday house is one of the great Australian dreams, etched at the top of bucket lists for retirees right around the country.
Be it a beach house, country cabin or villa abroad, downsizing an expansive family home and opting for an apartment can free up funds for hard-working retirees to finally bring their long-held dreams to life. With a number of projects emerging throughout the city, downsizers often get the best of both worlds, simplifying their lifestyles and finding a tree-change or sea-change in the process.
Pace’s exciting new mixed-use residential development, Pace of Blackburn, is the ultimate downsizers destination. The nature-rich suburb combines the best of urban living, seaside proximity and wildlife in one location. Situated just 30-minutes east of the CBD, 24km from Brighton Beach and a short drive to the Dandenong Ranges National Park, Blackburn truly has it all.
Click here to learn more about Pace of Blackburn and discover how Pace Development Group can turn your downsizing dreams into a reality!