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DOWNSIZING – When is the right time?

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A Discussion for Families and the Elderly Alike – Written by Andrew Fisher

A couple of years back, my parents were in constant deep discussions about when to downsize. They had two houses, neither of which were going to work forever, and for as long as I can remember, they procrastinated about downsizing. They had years left – it wasn’t urgent. Sound familiar?

Sadly, it turns out they didn’t have as much time as they thought. And what could have been something they did while they still had each other for support turned into something far harder for all of us.

From that experience, I can tell you as kids of the elderly or someone who is elderly themselves – making those decisions are far easier when you can – not because you have to. In addition, does anyone want the responsibility of having to make the hard decisions to fall to your kids? It made me think a little differently, to be honest.

But I get it…Making the decision to downsize is hard. You have that lovely family home with all the memories, the lawn you loved for years, and plants you have watched grow. And the pool the kids swam in. And then there is the big question of where do you go?

Well, after viewing everything in Perth, we found a bunch more choices than we knew existed. There are of course, over 55’s villages that are leased for life, which suit those who are a bit more independent with the caravan still in tow.

And then there are high-care retirement villages that deal with people who need more care. The truth is, many of us are never going to feel ready for that kind of move voluntarily, especially as we seem to grow more stubborn as we age (I’m speaking from experience here!).

But there are some wonderful options in between too that we didn’t know about – some of the “villages” around Perth have the most wonderful facilities that allow people to live sociable, easy-care lives while surrounded by “quiet support”. They are communities of like-minded people with mixed housing options, from apartments to villas with gardens; some of the facilities are simply amazing! Throw in a heated pool, top-class gyms, bars and darts, libraries, coffee shops and even hair-dressing facilities that are present in many of the villages, and suddenly what seems daunting might actually seem…. fun!

Given the market is so good right now and given our aging population – perhaps it’s time to have some of these discussions with your family. Right now, you can get an amazing price for your family home with flexible terms and maybe put yourself in a position of independence without so much stress.

If you are kids with parents and are having these discussions – take your folks out and show them around! You never know – they may just love it, and you can rest easy knowing they are settled in before anything happens to upset the balance.