Downsizing for health or wealth? Why not both!
Date Posted: August 2, 2021
People’s reasons for downsizing can all look very different, but two of the most prominent motivators are freeing up cash and enhancing overall wellbeing.
Downsizing for wealth
If money is a motivator for your retirement plans, here’s how making the move to a Downsizing Community could benefit your back pocket:
- Free up equity
Your home is most likely your biggest asset; downsizing will help you liberate a significant amount of cash that’s tied up in your current home.
- Reduced living costs
Living in a smaller, newer and more efficient home within a secure community comes with a huge range of financial benefits. You’ll experience lower power bills because you won’t have to use as much energy to heat and cool your home, as well as lower household insurance costs because you live in a secure environment.
- Save on repairs and maintenance
Your brand-new home will likely require less maintenance and upkeep than your current home. There’ll be no need to spend your valuable time and hard-earned cash on repairs, since your home will be brand spanking new!
- Home and community savings
While every Land Lease Community is different, you’ll likely experience the following savings:
- No stamp duty on your new home
- No council rates
- Some Land Lease Communities partner with electricity and insurance providers to offer cost-effective solutions, meaning you get to keep more money in your pocket (or in the travel fund jar!)
Downsizing for health
If you’re interested in prioritising your health and wellbeing during your retirement, here’s how calling a Downsizing Community home might help:
- Luxury fitness facilities on your doorstep
Land Lease Communities feature a range of luxury health and sporting facilities, making keeping active easy for homeowners. Many offer the following:
- Indoor pool and spa
- Wellness centre
- Tennis court
- Bocce or croquet lawn
The best part? All of these great facilities are situated right on your doorstep!
- Dedicated wellness teams
Some communities make it extremely easy to enhance your overall wellbeing by having a dedicated wellness team that delivers programs and activities designed to support health and fitness for over 50s.
- Community groups
Many Downsizing Communities have sporting groups to get involved with, such as tennis, lawn bowls, pickle ball, table tennis, pool, croquet and more! Community sporting groups are a great way to make friends and have fun while getting active, and also provide an opportunity to release your inner competitive spirit.
- More reasons to relax
Downsizing to a Land Lease Community can help to remove or minimise everyday life stressors, such as safety and security, home maintenance and finances. Eliminating these common stressors means you’ll have more reasons to relax when you downsize, thereby improving your wellbeing.
The team at Discover Downsizing believes that making the move to a Land Lease Community can help you unlock a lifestyle of health and wealth! So, whatever your motivation, you’ll be well catered for.