Don’t make these downsizing mistakes in retirement!
The question on many downsizer’s minds – where do I buy?
There are literally thousands of options when downsizing. You can buy off the plan, go into retirement living, move away, stay close by, the list goes on and on.
No wonder so many retirees are so confused about retirement living and where to downsize to.
Biggest Downsizing Mistakes:-
Not getting the right advice.
Seek out people who specifically know what they are doing. I will mention a few critical ones here.
1) Legal advice
If you’re thinking about a retirement living community, make sure you get professional legal advice from someone who specifically deals with understanding and translating retirement living contracts. Retirement living can be absolutely fantastic and buying into the community can literally make you feel 20 years younger! But DO make sure you understand what you are signing for. Buying an over-55s or property is the same, get a proper legal interpretation of what you are signing for!
2) Financial advice
Downsizing finances is a minefield! Not understanding how much money you can afford can be a horrible blunder. This is the time in your life that you are free and want to live life to the fullest! Make sure you can afford that lovely glass of red or that place you want in style – seek advice early.
3) If you want to move away to a new area – Try before you buy!
Sometimes jumping before you know you’ll be happy can make you sad. If you want to try a new community, think about renting out your family home and ‘try before you buy’ the seachange or the tree change and see the results whether you love it – great! or you don’t, then it’s not so bad…
Shifting Your Mindset
Understanding The RIGHT TIME, Moving Roadblocks, And How To Be READY For Your DOWNSIZE
This online course for empty nesters is designed as the first step of a 3-part program focusing on improving your mindset and can be completed independently or as a pre-requisite to Part 2 and Part 3 for the full ‘Rightsize Your Home’ program.
Part 1: Shifting Your Mindset will help you understand where you are currently at and help you move through any overwhelming thoughts that may be stopping you from moving forward. Also, you will begin to plan and feel more excited about your next chapter!
We invite you to try this online course, click below now.