Aside from buying your very first home, upsizing and downsizing are the biggest property moves you’re likely to make! So, whether you’ve outgrown your current place and need a little extra room or it’s time to transition to a smaller more manageable home, there are a few key things to consider before you sign on the dotted line.
Assess your lifestyle
Whether you’re buying an established home or building new, consider the essential amenities you’ll need nearby to facilitate your family’s lifestyle.
For upsizers…
How close are childcare facilities, kindergartens, and primary and secondary schools? In particular, be mindful of public school zoning.
What is the proximity to recreational facilities and public transport? This is particularly important if kids will be using it to get to school.
Downsizing your home doesn’t mean downsizing your life!
For downsizers…
Consider what activities will shape your retirement. Do you want to easily drive down to the Mornington Peninsula on weekends? Do you want to be close to family and grandkids? Will entertaining be a priority or perhaps you’d love a big enough garden to grow some veggies?
Find a home to suit your needs
A growing family will need more living space as children get older, which is the perfect opportunity to upsize your home. Similarly, families who are growing due to relatives moving in means more bedrooms and living space may be required.
For upsizers…
Consider choosing a home or land that accommodates a house with a reasonably sized backyard for children to play in. Or perhaps consider living in a community where local parks or open space areas can be found nearby.
Ensure you will have enough bedrooms to accommodate your family and any potential guests. And don’t forget those separate living areas or multipurpose rooms. These are a great solution to ensure your family has ample space to unwind and can be adapted for various purposes as your family grows.
Downsizing from a big family home can seem like a daunting thought. However, making the decision to do so brings with it the opportunity to simplify and reinvigorate your life in a new home with streamlined belongings, no compromise on space, and a new lease on life with a reduced amount of home maintenance.
For downsizers…
Consider where your family and social networks are located. Buying in an unfamiliar area, or one located a long way away, might result in isolation at a time when you need support.
Plan for the future
Before you begin, it pays to think about what you want now and what you’ll need in the future in terms of space, design, functionality and flexibility.
It also pays to think about the option to sell or lease your property in the future. Doing this will not only ensure you create a family home that provides maximum liveability and enjoyment for years to come, but that also offers broad appeal to potential buyers or tenants.
For upsizers…
The property might suit your family now, but what about as the children grow, or if you have more children?
For downsizers…
Even if you’re not ready to downsize just yet, it’s helpful to start considering options sooner rather than later.
And if you’re building new, be sure to make the most of builder customisations to create a truly accessible floorplan. For instance, can you build your home without steps or levels to allow easy access to key areas? And are there any safety features to incorporate for any young grandchildren?
Depending on your family’s stage of life, deciding to build a new home to suit your lifestyle will often be hugely beneficial in the long run. If you’re interested in finding the perfect House and Land package at Riverfield to suit the next phase of your life, give us a call on 1800 001 895 to discuss your options or register your interest today!