More sellers are downsizing for this reason in the ACT
There’s a lot to like about a downsizing option, especially for those who find themselves empty-nesting in homes that demand plenty of upkeep.
Part of the downsizing appeal is increased freedom – and the freeing up of more cash to support retirement.
Alexander Smout of Belle Property Canberra, who lists this week’s Narrabundah feature property, says the two-storey home has attracted attention from the downsizer cohort.
“They like that it’s on a manageable, very-low-maintenance block with a main-bedroom retreat on the living level,” he says.
“It also ticks boxes with plenty of entertaining options – inside and out – and stacks of storage through a four-car garage.”
Smout says another lever for downsizers is location.
“There’s little doubt that a dress-circle address usually comes with convenient access to schools, shops, public transport and more,” he says.
Miriana Cavic of Luton Properties Manuka says while there are many common reasons for downsizing, a relatively new one has come onto the radar.
“I’m now seeing people downsizing to free up equity to help get their adult children onto the property ladder,” she says.
“There’s definitely more of that happening than ever before as there’s a real sense homes are being pushed out of the reach of younger buyers.”
Cavic says if all the reasons for downsizing were rolled in together, they could be summed up in one word.
“Lifestyle. It’s a kind of less is more approach,” she says.
Downsizing upside
Cash up
Downsizing can release funds from selling a larger home, providing a welcome boost to the retirement pot. Or to free up cash to help adult kids enter the property market.
Costs down
Smaller dwellings – apartments, townhouses, terrace homes and so on – require less upkeep and have lower running costs. That puts more time back into your day and cash back into your pocket.
Convenience
Many downsizers seek to move closer to family, services and amenities. Discover the joys of a walkable neighbourhood with shops, cafes, gyms and cinemas right on the doorstep. Less is more.
Feature property
45 Sturt Avenue
Price guide: High $1 millions
Auction: 3.30pm, November 16
Agent: Belle Property Canberra, Alexander Smout 0421 148 706
Everything old is new again in this tastefully extended and renovated two-storey Narrabundah home.
The nostalgia is baked in through an extensive use of iconic Canberra red bricks, and original character features continue the retro theme inside, including raked ceilings, a fireplace, timber flooring and sash windows.
But everything else that matters is pure 21st century and delivers the latest in contemporary living.
For example, the entry hall doubles as a convenient mudroom, and leads into the formal living and dining reception room where you’ll find that cosy fireplace.
There’s then a step down onto the polished concrete floors of the extended section that houses the casual living zone.
The kitchen boasts Smeg appliances and an integrated dishwasher; the hardware supported by deep storage cabinetry.
The main-bedroom suite will tick a downsizer’s wish list as it’s located on the lower level toward the rear. The private retreat offers a walk-through wardrobe and an en suite.
Upstairs, two further bedrooms share a bathroom with a bath. A custom study nook is ideal for working from home.
There’s room for outdoor entertaining on the spacious deck, and the emphasis is on lifestyle delivered by low-maintenance landscaping.
A big bonus is a massive four-car garage that gives plenty of options for hobby or exercise space or maybe just more storage.
The home is close to local shops and all the top schools.
Or try these
Forrest
203/17 State Circle
Agent: Luton Properties Manuka, Miriana Cavic 0409 366 266
O’Malley
15/5 Taronga Place
Agent: Edge, Oliver Muscat 0402 446 656
Deakin
4/27 State Circle
Agent: Rod Meates Property, Rod Meates 0413 535 326
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