The Sentiment of Downsizing to Fund Retirement

A number of my current real estate conversations, are with retirees who are looking to sell their large family home, in order to downsize to a smaller, lower maintenance property, whilst freeing up some much needed funds, in order to help them further fund their later years. On the surface, this seems a very practical approach, that provides a straight forward solution to a very real need.

Selling an older larger asset, that in monetary terms is more valuable than the newer, smaller asset, and keeping the tax free difference sounds like the ideal solution. Right? Well for most people, this is where the lines of practicality and sentiment collide. Having to make a decision like this in our latter years, where the household has no regenerating income, can quite often bring about a sense of loss, as the decision is most likely not viewed upon as a matter of choice.

How do you simply let go of a lifetime of memories, from a home that has brought you security and sanctuary, in exchange for cold hard cash, only to have to move to a place unknown, in order to start all over again, without it causing some stress and emotional sadness? What price do you put on your ‘home’, on familiarity and on your sense of security? After all, my job is to appraise the value of your asset, in terms of the bricks and mortar, the shape they are in, the condition they are in and the land they are on, and view these individual items as an overall collection of opportunities that they will potentially provide to a possible buyer. However you as the beloved and long term owner, will also have another price variant in the mix… your time, your effort, your memories and your sense of belonging, that as a good agent, I must also take into consideration when working with you, whilst you are making this challenging transition.

In a real estate market where this is becoming a familiar conversation, you need an agent who is life experienced, and not just focusing on the cold hard, ‘sell at all costs’ mentality. Although the main reason for the sale is to free up some much needed funds, this situation is personally about much more than that. You need an agent who will understand, take the time you need to transition mentally, and who will help you sell YOUR HOME, and not just your house. As an experienced agent in his late 40’s, who owns the business and has moved a number of times personally through life’s journey, I very much understand the people side of our industry, and not just the property side. I pride myself on helping people who now find themselves in this or similar situations. So if you, or someone you know is soon to be thinking about selling the ‘family home’, and you want someone who is more than just your average real estate agent to deal with, then make contact with me, as although I can’t take away all of the pain, I know I can certainly lighten the load.

I will leave you with a testimonial that was recently written for me, by some of my lovely sellers who found themselves in a similar position. 

“Selling your family home is never easy. The memories, the familiar comforts of home are many. That garden you planted for your Beloved’s 50th. The old surfboards at the back waiting for sons to return or the grandchildren. Then there is the price. No one is going to value your home the way you do. We sold in a down market. We bought soon after and we are very happy. The changes made have enriched our lives. It has in many ways been a rediscovering the joy we experienced as a couple before children. We feel very content with this journey. We were supported by Andrew who helped us navigate a difficult market. We trust he worked professionally to help maximise our sale. He is a great communicator and is very patient. From signage, photos, advertising and home opens I could not fault his desire to achieve the best possible result. His advice in preparing our home for sale was critical, yet tempered by restraint. We spent only what we needed and with his industry contacts we achieved a great result. We were informed every step of the way and never felt we were not in the driving seat. Our choices and decisions were sincerely respected. Andrew is very honest and trustworthy. There were many other homes in Karrinyup which were up for sale. Many of these remained on the market well after our sale. There is nothing more depressing than no one presenting to buy your family home. The longer it goes on the more difficult. Andrew has an acute awareness and knowledge of this industry. His professional skills and genuine warm demeanour will work for you. I have no hesitation is recommending Andrew and his company “Prestige Property”. We have moved. We are happy and enjoying our wonderful life beyond the “family” home. We have a lot be grateful. Our gratitude extends to Andrew and his team at Prestige Property. Thank you!”

Until next time…

Yours in Real Estate

Andrew Amos 
Licensed Real Estate Agent
0417 999 837

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