1. Decide on the location
2. Look at your finances
3. Declutter your current home
4. Get your current home valued
5. Be careful about building before selling
6. Looking for your dream home
7. Seek Independent Advice
Location should be top of mind when you’re looking for your next home. We recommend thinking about whether you would like to stay where you are, or whether a different location might be more suitable in the future. For instance, it might be easier to live in a community that has transport links nearby and shops within walking distance. You may also enjoy having friends and family nearby. Look for parks for the grand kids or a place to walk the dog.
If you’re retired, downsizing can be a good way to help lower your household expenses. Although there are costs associated with moving homes, there are long-term savings that can be made. Less space usually means less heating, gas, cooling and maintenance costs. If you’re thinking about retiring in a few years, make sure you take a change of income into account. When it comes to working out your current and future income, we always recommend that our customers get independent legal, tax and financial advice.
Moving from your larger family home to something smaller means you will probably need to let go of some household items. Visit our display home, to get a feel for what furniture will fit and what you might need to sell or give away. The extra furniture may be just right for one of your children’s homes and anything surplus could be donated to charity. A garage sale also is a quick way to make a sale.
We’ve all heard plenty of stories from friends and family about the money they’ve made on their house sale, but it’s important to do your own research. Your location, home, the time you are selling – it will all have an impact on the valuation of your property. Check out recently sold, similar properties on websites such as realestate.com.au or domain.com.au. You can also call a couple of your local real estate agents – most of which can give you a free, no obligation, indication of your properties value.
Be careful about buying and signing a contract for a new home before you’ve sold your old home. You might find it harder to sell than anticipated and need to sell for less than you hoped. Waiting to sell your home before you buy your next one can save you unnecessary stress and uncertainty of having to source finance or a bridging loan (bridging loans are short-term home loans that help cover periods of cash flow shortage).
It’s a big step to move from your family home to a smaller property – and it can be hard to know where to start. Head over to our handy “Choosing a Home” guide to take a look at what home might be perfect for you to downsize to.
The information provided is meant as a guide only. Arden Vale Homes recommends that all clients seek independent legal, tax and financial advice.
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17 Long Street, Rangeville Queensland 4350 PO Box 7337 Toowoomba South, Queensland 4350
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