Sydney Seniors Shift Gears By Downsizing Homes

Mayfield Property Buyers know there is a time in a senior’s life when selling the family home becomes a priority. New tax incentives announced recently by the Australian Government, which come into effect July 1, 2018, are encouraging many seniors to make this change. With these impending changes and an ever-changing real estate landscape, using the services of a Property Buyer is a popular choice especially for seniors that are wishing to downsize.

John Carew, Director of Mayfield Property Buyers states, “older couples have a lot of wealth and equity tied up in their homes and by selling the family home, they will be able to unlock that value so it can be used in other ways during retirement.” Carew adds that by using a Sydney Buyer’s Agent, these Baby Boomers are assured of receiving the necessary support and property intelligence they need to make an informed decision. “Working with a specialist means there is someone negotiating on their behalf; this can dramatically reduce the time involved to find the right property as well as reducing the risk of overpaying on their new property.”

There are several other reasons to downsize from a large home, Carew says, but news of the upcoming government tax incentives have brought a lot of activity to the market. As a Buyer’s Agent specialising in the North Shore Sydney, he says the standard reasons for moving out of a large home into a smaller dwelling still hold true. They include:

- Easier to maintain, requiring less time on upkeep leaving more time to enjoy life

- Children have moved away leaving behind a partially-empty home

- Extra funds for a changing lifestyle with travel and holiday plans 

- Moving forward into a new chapter without a large debt load

- Health care conditions forcing a move into a more friendly home

- Releasing equity tied up in the family home to work harder for them in retirement 

With the assistance of Mayfield Property Buyers, downsizing into a smaller, more comfortable home could not be easier. As the go-to Property Buyer for Sydney’s North Shore, Mayfield understands the needs of downsizing seniors, and has a vast network of stock from which they have access to, including privately listed off market properties. No matter how competitive the Sydney property market is, seniors can be sure to get the assistance they need to secure the right home when downsizing for the next chapter of life.

Carew says the rules of property buying have changed considerably since many Baby Boomers were last involved in the real estate market. It is for this reason that he says anyone 50+ looking to downsize into a smaller home needs the assistance of a Buyer’s Agent. Mayfield Property Buyers is a dedicated buyer’s advocacy service which is there to help property buyers make the best possible decision specific to their needs.

Learn more by visiting https://www.mayfieldproperty.com.au