Downsizing Decision Calculator

💡 Downsizing Tips for Seniors

• Get professional advice: Consult real estate agents, lawyers, and financial advisors before making decisions.
• Understand all costs: Agent fees, legal costs, stamp duty/transfer taxes can add up significantly.
• Consider timing: Selling in a strong market and buying in a slower market maximises proceeds.
• Check pension impacts: Releasing equity may affect Age Pension or benefit eligibility.
• Tax implications: Even with exemptions, partial use or timing can create tax liabilities — seek tax advice.
• Retirement villages: Understand entry fees, ongoing charges, and exit fees before committing.
• Emotional factors: Leaving a long-term home is significant — ensure you're ready emotionally.
• Check accessibility: Ensure new home suits current AND future mobility needs.
• Community matters: Proximity to family, friends, medical services, and amenities is crucial.