Downsizing for better retirement living in The Hills

If you came of age in the 1970s or even earlier, you no doubt have a strong preconception of what retirement and retirement housing looks like. It’s time to rethink. Those tired old villages are in the past. In their stead are retirement villages and land lease communities you’d pay to holiday at.

Boomers on the move

To understand what’s acceptable to Boomers, first we need to go back to the post-war years of prosperity, free tertiary education and cheaper travel.

Parents of Boomers, born in the early years of last century, suffered the privations of the Depression, droughts, floods, low wages and a limited diet to name a few. Their children were born into a thriving economy, where (except for a brief period in the 1970s when the oil shock triggered by war in the Middle East pushed inflation to around 15%) jobs were plentiful and the world felt safe.

The Boomers were the first generation to embrace the ‘share house’ – housing has always been in short supply – and to move home many times.

Due to the introduction of the Jumbo jet in 1971, this generation was also the first to travel in vast numbers. While previous generations might have travelled to Europe by ship, the journey was only for the dedicated. Arrival within 24 hours instead of six weeks made the world smaller and a gap year or several months in the UK and Europe became the norm, particularly for the middle class. The return to real life didn’t tamp the wanderlust.

 The Boomers like to party. That the eldest of them is now 78 hasn’t stopped them. They’re ready to rid themselves of the burden of possessions, pack up the camper or the caravan and get travelling. Many, once they become empty nesters and the kids move interstate, choose to downsize, especially to a ‘lock-and-leave’ home. And that’s where many retirement villages or land lease communities come into play. However, these aren’t your only options.

Housing and downsizing options for retirees

Quality or quantity of life?

Flexibility is vital when you’re deciding how to use your property asset and plan your future. Most choices you have involve the dreaded decluttering. However, once you get started, you’ll feel a weight lifted from your shoulders.

 Some options to consider once you’ve retired:

• Rent spare rooms to lodgers. If you’re close to a university, you can sign up with their accommodation bureau who will send you suitable candidates. The students can’t pay much but they appreciate a safe and secure home. You also have the option of listing your room on the Downsizing Senior Flatmates site (free of charge) to find someone of similar age.
• Sell your family home and buy a smaller property. This has the advantage of freeing capital you can use to enjoy your life more, plus your land and water rates will usually be lower. The downside is you’ll be competing with first home buyers.
• Buy into an over 55s apartment complex. These properties are usually priced a little lower than those for the general population because of the age restriction. No lawn mowing or home maintenance!
• Buy a home and move to a land-lease community. This type of tenure describes living in a desirable location (often by the coast) where you own your home (a moveable dwelling) but you lease the land.
• Move to a retirement village. Gone are the days when retirement villages felt more like army quarters. These days, that luxury resort you saw advertised on Instagram is likely to be one of the new-generation villages, complete with pool, barbecue area, community room, on-site hairdresser and more. The grounds and exterior properties are managed by the village owner. All you need to do is enjoy your new home.
• Be a nomad and go house sitting. This isn’t a permanent solution; you’ll need a base. However, once you get a few good references and you have the means to travel, you could spend most of the year in exotic locations caring for a home and (usually) pets.

 When you need to look out for yourself only, you’ll have plenty of time to avail yourself of all the benefits a new style of living offers, the most important of which is time.

Can I help you downsize in The Hills?

I’ve lived and worked in The Hills for most of my life. With my network of real estate, retirement village and financial contacts, I can guide you to the next steps you need to take to achieve your life goals. If you’re unsure of government benefits like downsizing incentives, I can help.

Should one of these steps include selling your family home, talk to me. I can help you sell your home or recommend an agent while I act as your seller’s advocate.