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Active Retirees : Active Retirees Oct-Nov
Home for life As retirees expect more from retirement living, property developers are faced with a challenge: adapt or die. Alexandra Cain spoke to those in the know about keeping up with the lifestyles of today’s retirees. COVER STORY No place like home You've lived there for years and made it your family home, but there are ways to downsize and keep the space you need, writes Alexandra Cain. 28 | www.probussouthpacific.org I t’s one of the most important decisions retirees face: whether, when and how to downsize their home. Selling or renting out the family home to move to a smaller property has many attractions. It frees up capital and reduces time spent on property maintenance. But there are also many other considerations to make, such as where guests will stay when they come to visit, where to put the home office and even where to move to. It pays to think through these questions before packing up and moving on. Leanne Pilkington, general manager of real estate agency Laing & Simmons, says it’s important to take a long-term view when making decisions about downsizing. “You don’t know how long you’ll be driving,” she says, “so consider proximity to transport. “You also need to think about how far you want to move from your family. The idea of a seachange can be attractive, but if it means your family and friends won’t come to visit, you have to weigh up whether it’s worth it.” Sell or rent? Leanne says that in her experience, most people sell rather than rent out their house when downsizing. “We find usually people want to access the capital in their house to be able to enjoy their retirement. People sometimes rent first to see if they like the area, but we don’t see that very much.” For retirees who feel they need help selling their property and finding something else to live in, Pilkington says it can be an idea to use a buyer’s agent.
Active Retirees Aug-Sept
Active Retirees Dec-Jan 2012