The decision has been made to downsize and now it’s time to think about where you would like to spend your retirement years. It’s an important decision that will impact greatly on your budget, lifestyle and enjoyment.

For example, should you move closer to family? These days, there is a high probability that younger families will move frequently in their
lifetime due to changing employment or their own desire to create a new lifestyle. This means you would need to decide whether to move
again or stay in a less convenient location.

When thinking about where you might retire to there are some points to keep in mind:

Over the years we manage to accumulate things, especially if moving home hasn’t occurred for many years. Adult children neglect to take their collection with them when they leave, only adding to the clutter hiding in the many cupboards. Moving to a smaller home provides the opportunity to clear out the excess.

In doing so, you will probably find quality items that could be donated to charity or sold, giving you a little extra cash. Emotionally, this may be a difficult time so focus on the benefits. Charities always need support to help others, or if you choose to sell items, the cash can be invested into getting your current home ready to sell.

Additionally, the capital in the home, built over time, could now be realised and potentially boost superannuation savings (seek professional financial advice to determine your best options). Downsizing will also result in lower utility bills and less money spent on maintenance.

Impending retirement is a good reason to reassess current living arrangements. Cedar on Collins, in the heart of Kiama, will be an easy to maintain community which can provide you with a secure and affordable home in a close-to-perfect coastal situation.