DOWNSIZING

DOWNSIZING can be a difficult choice to make, but delaying it out of sentiment can be risky, says Schalk van der Merwe, franchisee for the Rawson Properties Helderberg group. Those considering downsizing should remember:

Maintenance and upkeep can be a struggle for older homeowners so people planning to use profits from the sale of their family home to purchase a smaller property and also support them during retirement should move sooner rather than later.

The increasing value discrepancy between luxury homes and lock-up-andgo properties can be a stumbling block.

Once you have a good idea of how much you’ll be able to sell for, Van der Merwe suggests consulting your financial adviser before your next property buy.

Downscaling is about finding a home that fulfils your needs during the next chapter of your life.

TOO MUCH WORK Maintenance and upkeep of big homes and properties can bea struggle for older homeowners.