Budget 2013 - new support for downsizing seniors.

The 2013 Federal Budget has set aside $112.4 million funding for a trial to assist senior Australians to downsize to a home more suitable to their needs without reducing their Age Pension.

See if you qualify and read more on the Seniors Housing Online News page.

Top tips for downsizing in the city.

Retirement is not as clear cut as it used to be - many people are working longer and that dream of a retirement by the beach may be more difficult to achieve, and less attractive for some.

Downsizing but staying in the city, close to family, friends and familiar services is a more practical option for many. Selling the family home can free up cash or finally get rid of the mortgage, and enable people to move to a new, lower maintenance property in an area they know and like but keep their options open. 

Being close to the city can mean more work opportunities if people want to work for longer.  And for downshifters, you might choose a location offering the sort of activities you would like to spend more time doing.

There are lots of great new retirement properties being built in established urban areas or on the city fringes with lifestyle benefits, such as close to golf courses or beaches.  Any many retirement properties offer a lifestyle and quality of life at a lower price than surrounding real estate.  Yes this may be because the type of legal title or occupancy rights are structured differently, but so long as you go in with your eyes open and you are fully informed of all the financial implications, retirement properties can offer value buying in attractive areas.

For example, in Sydney there has been a lot of recent interest in retiring to the northern beaches. A number of retirement properties in the area are well priced - so people can still enjoy a great beachside lifestyle with the advantage of proximity to the city.

And there's no reason why you can't keep working either full or part time if your new home is within commuting distance, even if it is a retirement village or another type of over 55 housing.

And for some, retirement is about doing all those things you enjoy in the city but just haven't had time to do while still working. If you like playing golf or bowls, there are many city based retirement properties with nearby sporting and social activities and entertainment facilities.

A big issue is thinking ahead - no one want to think about getting sick or frail, or losing a loved one.  But the reality is that sooner or later you will need to face some of these problems.

Even if you are fit and well now, buying a house or apartment is a big investment and you need to think ahead and ask yourself some questions such as:

• Are there lots of stairs?
• Is home and garden maintenance taken care of?
• How much are the weekly/ monthly costs?
• Will I use the onsite facilities?
• Is there reasonable access to public transport if I can't drive?
• Are there nearby activities and services I want to access?
• Are there good medical services nearby?
• How far are the shops?
• What is this community like?  
• Will I like my new neighbours?
• Can I keep a pet?

More on the www.SeniorsHousingOnline.com.au News page.

Downsizing - are you eligible for stamp duty exemptions?

Are you thinking of downsizing but not yet ready to retire from work? This could be a good time to consider moving as you may be eligible for stamp duty exemptions if you are over 55 and you buy a new home before June 2012.

This  means you could consider downsizing but enjoying the convenience of staying in your current neighbourhood close to family and friends and familiar shops, professionals and services. You will find a wide range of retirement village units and other specialist "over 55"property available if you search by area on the Seniors Housing Online website.

Or you may want to search for that idyllic retirement spot in one of your favourite holiday destinations to enjoy a life of leisure, it's all made easy on the Seniors Housing Online website.

You can take advantage of the current market conditions and the stamp duty exemption by downsizing sooner rather than later - get the benefit of downsizing the mortgage immediately, reduce your home maintenance workload, and enjoy a low maintenance "lock up and leave"  lifestyle so you can travel more and have more leisure time.

Research your options now! You can also sign up for free property alerts so you get an email notification when a new property comes up in your area of interest.  Everything from luxury resort developments to retirement villages, over 50's villages, villas and apartments for all budgets, in all areas. Even rental retirement villages are available as well as units for purchase. 

Also private sales and re-sales are featured too - and it's easy to sell your own property for a simple flat fee.  No commission - you communicate directly with potential buyers or tenants if you advertise your property on www.seniorshousingonline.com.au


More details on the Seniors Housing Online News and Information page.

Downsizing - recycling is COOL!

Downsizing the house and the mortgage to prepare for retirement makes a lot of sense after the kids have left - to reduce the burden of home maintenance and save money, as well as make it easier to lock up and leave when travelling. But just the thought of moving to an apartment or a retirement village can fill you with anxiety and dread if you can't imagine how you will pare down your precious possessions and furniture after decades of accumulation and memories?  Any household move will inevitably mean that all that perfectly good furniture won't fit in the new place.  In the past it's been hard to shift, and worth very little, and the cost of setting up house all over again can be daunting. Well the good news is that it's now easier to sell it all online with a burgeoning market in second hand furniture and other household and personal effects, and it may be worth more than you realise.  You can now instantly access a huge potential pool of buyers for some of your worldly goods using trading sites such as eBay, which are remarkably effective in sourcing buyers who will come and collect what they buy, making the whole process so much simpler. No need to hold a garage sale - people can view photos of your items and buy them online, dramatically increasing your chances of finding someone who will love and appreciate your pieces just as much as you did! And the other good news is that today's younger generation really appreciate those quality pieces with their history, character and great workmanship, and are rejecting cheap mass produced throwaway furniture in favour of unique recycled pieces. Retro is in fashion, and it's really cool to recycle, re-use and appreciate the provenance of possessions, be it clothing, furniture or other household goods. Living greener and more sustainably means avoiding the waste created by rampant consumerism and a throwaway lifestyle - and what better way to live this ethos than to appreciate all those second hand possessions we downsizing babyboomers are shedding? Save the planet, save money and be cool, all at the same time - it's a win-win proposition!   Although we all approach the task with apprehension, cleaning out all the old accumulated possessions and clutter can be surprisingly liberating - a bit like going on holidays!  And once you take the time to set up a trading account and reap the benefits of online selling, who knows? There's bound to be some great bargains out there to help set up the new place too!

Babyboomers driving the Sydney residential property market.

Retirees are driving the Sydney property market, with the babyboomers now choosing medium and high density housing, according to BIS Shrapnel, as reported in the Sydney Morning Herald on 7th march 2011:

"Baby Boomers will continue to be the main drivers of Sydney's residential market over the next five years with their take-up of medium- and high-density living. The generation of ageing, downsizing owner-occupiers - rather than younger renters - is expected to occupy an increasingly larger proportion of units and townhouses as the population ages, the real estate research firm BIS Shrapnel said.

''Activity in the Sydney residential market has largely been driven by the passage of the baby-boomer generation - firstly in the 1970s and early 1980s as first-home buyers and then as second and subsequent upgrading from the mid-1980s to the present," the BIS Shrapnel managing director, Robert Mellor, said.

"With their children having left the family home and retirement approaching, I expect this group will become an increasingly important source of occupier demand for higher-density dwellings between 2011 and 2015.''

To read more click here: SMH 7/3/11

NSW stamp duty concessions for seniors.

Seniors Housing Online, Australia’s leading retirement living website welcomes the NSW Government’s introduction of stamp duty concessions for downsizing seniors, although the impact is limited as many seniors aged 65 and over choose established properties rather than new builds, or want to move to retirement villages or other age specific housing where stamp duty is not applicable in any case.

If the NSW Government is serious about creating effective incentives to free up existing housing stock then this concession needs to be extended to existing housing as well as new builds, the age threshold should be reduced to 55, and consideration given to making age specific accommodation such as retirement villages more financially attractive where property stamp duty does not apply.

There are more than 20,000 seniors a month searching the website www.seniorshousingonline.com.au for retirement accommodation to buy or rent – 12% are looking for a luxury apartment or villa; 26% are looking for a new villa in a village setting and 28% are specifically looking for a retirement village unit.

‘Over 55’ developments differ from other residential properties as they are structured with a variety of legal title arrangements with many offering a type of long term leasehold interest rather than freehold or strata title ownership. So the stamp duty payable on the purchase of a residential house will in many cases not apply to a retirement property.

The benefits of downsizing to age specific housing include the security of knowing support services are available in the future should they be needed, as well as providing a resort-style environment, a sense of community and security and freedom from household chores and property maintenance.

Seniors Housing Online website visitor surveys show seniors are overwhelmingly looking for independent living, with 75% saying this is essential and 21% saying it is desirable. 80% want a village setting; 67% a clubhouse or recreation centre; 59% a swimming pool and 49% a gym. But at the same time, 50% say two or more bedrooms is essential and a further 35% say it is desirable; 88% still want garages and parking spaces; and 58% want pet-friendly accommodation.

The reality is that while people want to downsize the mortgage or access their equity in the family home, they don’t actually want to downsize their lifestyle in retirement. People are prepared to move away from family and friends to achieve a better lifestyle at a price point they can afford, with 43% saying remaining in the same area doesn’t matter; 35% saying it is desirable and only 22% considering it essential.

These are the factors influencing housing choices which must be taken into account if we want to encourage seniors to free up their larger family homes and make more housing stock available.