Downsizing without compromise
If you’re considering a purchasing a Willing residence, chances are you’re like many of the couples and families who have decided to downsize from a larger property.
So, what’s the reason one of four Australians over the age of 55 have downsized? And what’s driving the trend of younger generations downsizing alongside their families?
What is downsizing?
Downsizing involves moving out of a larger home to a more compact residence. In suburbs like Mt Lawley and Coolbinia where large family homes are the dominant housing, it’s a phenomenon traditionally seen with older couples whose kids have moved out. However, downsizing is broadening its appeal to younger buyers in modern times as minimalism trends become more mainstream.
The common thread that ties their motivation together is freedom. Whether that’s liberating their minds of responsibility, or enjoying the suburb they’ve always wanted, downsizing allows you to fully align your living situation with the stage of life you’re in.
What Willing residents say
When we think of downsizing, often the first thing that comes to mind is relinquishing the beloved family home (and all the memories that come with it), packing your possessions in the car, and cramming into a tiny villa or apartment surrounded by noisy neighbours. That’s not at all reflective of the experience of a Willing residence. We offer downsizing without compromise, or as residents often describe it, ‘rightsizing’. Of course, everyone has their own experience. Often you discover an array of benefits after you’ve made the move.
Here are some common experiences of Willing residents.
Staying in the neighbourhood
For Willing residents, the most common motivations are overwhelmingly family and location. Because we build large family-sized apartments in some of Perth’s most cherished suburbs, we see mums and dads downsizing from the large family home alongside their kids, who are drawn to start their own journeys in the same neighbourhoods they know and love. And because Willing residences are strategically located and built under our #SupportGoodDesign principles, residents relish the opportunity to be part of village-style neighbourhoods that are easy to navigate, feel safe and help them stay connected to public transport and health services.
Easier to manage
Many of us have memories of raising families in our large home on the streets of a shady neighbourhood, riding our bikes to meet friends at the corner deli. Those are the good memories – we try not to think about all that lost time and energy spent cleaning, lawn mowing, weeding and repairs. Then there’s the home features that become cumbersome as you age, like staircases and shower hobs. Willing’s apartments offer modern, manageable living that allow you to future proof your lifestyle, without compromising.
The best of both worlds
The residences Willing seeks to deliver are what we call ‘the middle’ – spacious townhomes and apartments that feel as roomy as a home, with more of what you want without the upkeep and ongoing maintenance. Now you can downsize without compromise, enjoying European style living surrounded by beautiful amenity like pools, gyms, yoga rooms, dog washes and saunas, and in places like Clifton & Central, new village shops, cafés and bars.
Lifestyle freedom
Many Willing residents will say they downsized their home to “upgrade my life.” At its purest, downsizing is really about trading needless possessions and responsibilities for experiences and pleasure, like Sunday mornings at the café, or meeting friends at bars and theatres. And then there’s the travel. Once you get a taste of freeing up your weekends, you’ll soon get accustomed to the ‘lock and leave’ lifestyle where booking things like ski trips and European sojourns becomes habitual.
Financial gain
When you sell the family home and downsize to a Willing residence, it’s likely you’ll free up cash in ways that will significantly improve your long-term wealth position. Maybe you want to pay off your mortgage or other debts. Perhaps you’d like to use the extra funds for investment, or simply spend however you see fit. With less to pay on expenses like insurance and utilities, many find they can either retire early or transition to part-time hours. The Australian Government has also recognised the benefits of downsizing to the community, and now offers a downsizing superannuation incentive for those aged 55 years or older. You can read the full eligibility criteria and other details here.
Is it right for you?
Downsizing your home is a very personal decision. Selling the family home is a big move – especially in suburbs like Mt Lawley where families often consider it a financial legacy that is passed down to the next generation. Thankfully, Willing has made the decision easier by building deeply thoughtful residences in the suburbs you and your family grew up in. If you’re considering purchasing a Willing residence, it’s a good idea to talk to your family to make sure you’re all on the same page. And when you’re ready, we’d love to show you around to show you what your new life could look like.
