How you can avoid "downsizing remorse"

25 Sep 2018

Do you know friends or family who have decided to downsize and sell the family home hoping to free up some equity in retirement, only to regret the decision later?

When considering unlocking equity in the family home by selling and downsizing into a smaller home, often in a different suburb or region, seniors should be conscious of potential “downsizing remorse” after the big move.

But did you know it’s possible to avoid downsizing altogether and access the equity in your home today, without selling the family home?

Downsizing is usually a one-way ticket – once you sell in Sydney and Melbourne and move into smaller or regional areas it can be harder to get back into the metropolitan property market.

You may also experience downsizing remorse if the financial benefits you hope for are overshadowed by the costs of moving such as stamp duty and relocation costs.

Additional regret may be felt after moving further away from family and friends, or from essential services such as healthcare, hospitals and emergency services.

There are other ways to access the equity in your home without needing to downsize. Debt free equity release has assisted thousands of seniors to stay in their family home, maintain their lifestyle and relax about living longer – without any hint of “downsizing remorse”.

Accessing the equity in your home debt free has several benefits for you:

• Eases the pressure to downsize into something smaller or further away
• Can be used to reduce or eliminate financial obligations such as existing debts
• Allows you to supplement retirement income
• Maintain the lifestyle you deserve
• Spend more time with loved ones
• Finance expenses such as in-home care

Homesafe Wealth Release®, the only debt free equity release product available for older homeowners, has been designed to “cap” the share Homesafe will receive on the sale of the home. There is no time limit for the transaction, which means the homeowner is never under pressure to sell, and the share sold to Homesafe will never increase.

Thousands of over 60s have turned to Homesafe Wealth Release® to access the equity in their home, debt free, to avoid “downsizing remorse” and maintain their lifestyle in retirement.

Homesafe Wealth Release is not a loan or a reverse mortgage, but a way to sell a share of the future value of your home and receive the cash you need today*.  There are no repayments and you remain the owner of your home until you choose to sell. Furthermore, as the share sold to Homesafe is capped, you have peace of mind there is still a share of your home you can leave to your Estate.

Homesafe Wealth Release allows you to avoid the stress related to downsizing.    

For more information please call Homesafe on 1300 307 059 or visit their website homesafe.com.au.

* Terms, conditions and eligibility criteria apply. Homesafe Wealth Release is available in 90% of eligible postcodes in Melbourne and Sydney.