murraybridge 
Thinking about downsizing your home? With new government incentives coming into effect later this year, now is a great time to consider selling up the family home and finding a smaller property. In the latest Federal Budget it was announced that Australians aged 65 or over will be able to make a non-concessional superannuation contribution into their superannuation of up to $300,000 from the proceeds of selling their home. This will come into effect from July 1, 2018. But government incentives aren’t the only reason to consider moving on, there are a few benefits of downsizing that are worth considering. They include:
Capitalising on a booming real estate market
With property prices at record highs in cities such as Sydney and Melbourne, now could be the perfect time to sell up and make the most of a competitive housing market.
Extra funds for retirement
Downsizing can have a significant impact on your long-term financial plans. If you can buy a new home with cash and money left over you will have a larger nest egg for retirement. You could use the extra funds for investment purposes or spend the money on those things you’ve always wanted to do such as travelling or buying your dream car.
Reduced household costs
Larger homes typically cost more to keep running. By buying a smaller home you’ll spend less on things like cleaning, electricity and water consumption. Plus, if you downsize your furniture you might be able to make some extra cash by
selling the items you no longer need.
Less home maintenance
One of the major benefits of moving into a smaller home is that there’s a lot less housework to do. Less time spent doing things like gardening or vacuuming means you’ll have extra time to do the things you really love.
Countless property options
Downsizing can help open up a range of property options you might not have been able to consider earlier in life. When you need less space you can move to a small apartment in an urban location or consider retiring to your favourite holiday spot. With so many fantastic property options, you’ll be happy to move onto the next chapter.
Professionals Companies, members, directors, offices and employees do not give warranty to the accuracy, reliability or completeness of any information provided in this newsletter and shall not be liable for any loss or damage suffered as a result of anyone relying on information provided in this newsletter. Professionals recommends you seek advice from your own financial, taxation, and legal advisors before entering into
