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Don’t delay downsizing

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Four things to consider when downscaling

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:

  1. 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.
  2. The increasing value discrepancy between luxury homes and lock-up-and-go properties can be a stumbling block.
  3. 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. 
  4. Downscaling is about finding a home that fulfils your needs during the next chapter of your life.

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