Downsizing Your Home

Seniors Downsizing home for retirement 

Many suggest downsizing along with the government's downsizer contribution as the optimal solution for retirement. A smaller, more manageable home. A transaction that frees up cash for retirement. Family homes available for the next generations. This is a proposition supported by the federal government, in words as well as actions.

Its downsizer contribution encourages retired Australians to sell up and contribute some of the proceeds to super, thus building the nestegg from which pension income is drawn. The question is, however: is downsizing a ‘one size fits all’ solution?

Downsizing Contribution, Rules plus More 

This guide answers some important questions about downsizing and the downsizer contribution;

• What is downsizing, upsizing and rightsizing?
• Why are seniors downsizing?
• What is the downsizer contribution?
• Downsizing pros and cons
• Costs to downsize
• Pension downsizing rules
• Downsizing alternatives to increase retirement income

That living at home is important to Australia’s retirees is reinforced by findings of surveys across multiple years and numerous cohorts of older Australians. For many, that means the family home they’ve lived in for many years. For others, it might be their new, smaller home. Either way, home is where the heart is.