It would be fair to say, that over the past 16 years of physically standing in thousands of home opens, and meeting the tens of thousands of people who have attended them, I have come across many a couple who have ‘downsizing’ as the key reason as to why they are looking for a new home. I don’t know why, but I have always loved talking to people in this situation. Maybe it’s the real estate agent in me seeing an opportunity to obtain a sale for my client, but mostly it is to do with the fact I just really like seeing an older couple, who are beginning to see the light at the end of the tunnel, where after spending 40 – 50 years working and raising a family, they get to selfishly look at, and plan, what would best suit them in the next chapter of their lives.
I think I also like this situation, as it is in conversations with people such as these, where my experience and professionalism as a career real estate agent, gets to come to the fore. A good real estate agents role is not just to sell the home he or she is standing in, but it is to help facilitate a holistic transaction, that suits the needs of all parties involved. So in this case, a ‘good’ agent doesn’t just get the opportunity to sell their current clients home, but they also have the chance to help the potential buyers, both physically and mentally, successfully transition from their old home and lifestyle into their new one. After all, the agent should be the one who best understands the needs and circumstances of all parties involved. If done correctly, and with the correct care and guidance, all parties should end up with a satisfying result, and a subsequent smile upon their faces.
In addition to the needs of those involved, sometimes the decision of the potential downsizers, can very much be influenced by those closely associated to them. What do I mean by that I hear you ask? Well let me explain, by simply saying that I would like a dollar for every time I have encountered older downsizers, who are being accompanied by their adult children, who are quite often over riding the needs of their parents, by ensuring their needs are also met within the transaction. The purpose of downsizing, is to move on from what you had and once needed, in order to now purchase what you want, and actually need, with the emphases in this sentence being on ‘you’.
Another common obstacle to overcome when helping downsizers achieve their ultimate goal, is in helping them overcome many years of past habits and requirements, when they are looking around a potential new home. Once again, I would also like a dollar, for every time I have heard people who are looking to buy smaller, spend the entire time that they are looking around the home, disappointed, because what they are looking at in order to ‘downsize’, is not as big as the one they are now wanting to move on from?! I know, ironic isn’t it, but never the less, this is a real and regular situation. Sometimes it is hard to let go of what you had, in exchange for what appears to be less. So I like to help people stay focused on why it is they are in the home in the first place, and that is to downsize, and the point of downsizing as you get older, is so you can own ‘less’ physically, in order to own so much ‘more’ emotionally in relation to your new potential lifestyle.
There can also be a psychological challenge as well. Spending your entire adult life, working hard in order to obtain wealth is something to be proud of, but when you are living in a smaller home, one may get the feeling that their personal stature is not being truly reflected in their decision to live in a smaller home. I am sure that this is a genuine internal obstacle that some may wrestle with, even though they may not choose to verbalise that particular internal battle to me.
So what are the benefits of downsizing? What is it that will provide you with the ‘why’ when it comes to accepting less and overcoming the little egotistical feeling we all possess, where we feel we have to show the world what we have achieved? Well there are a whole heap of benefits to making the change, from the obvious of freeing up some tax free funds that are currently locked away within the larger family home, to the feeling of no longer having to mow and maintain the lawns and gardens, to the savings in utility usage, to the security of being able to just lock up, and go on that long awaited extended holiday, and getting to spend some of that hard earned money.
At present, there really are some stunning opportunities hitting the market place designed specifically for the downsizers. High quality, purpose built, mini complexes are popping up in both family friendly suburbs such as Duncraig, along with near city suburbs such as Innaloo and Yokine. The choice is terrific at present. Most of these complexes are purposely being kept small, well priced, and situated on quiet leafy streets or cul-de-sacs. Once again, this is to add another benefit to the savvy buyer. Security and community. Similar trustworthy people, living nearby, who have a similar outlook to you, looking out for and protecting your interests and property, whilst looking out for their own.
So if you are nearing the end of your working life, and you have been thinking that it may be time for you to sell the large family home, do away with the lawnmower and gardening tools, and purchase something smaller, take the time to give me a call. Not only can I discuss some of the pitfalls and challenges you may face, such as the ones I have mentioned above, but I can also show you some wonderful properties that are available right now.
As always, my priority is you, so I am happy just to help if I can. If not, I hope this article helps you one day, when the time to downsize is right.
Until next time.
Yours in Real Estate
Licensed Real Estate Agent
0417 999 837