Downsizing is about about simplifying your living situation to better match your current lifestyle. In other words – it’s really about rightsizing your home to fit the life you want to live.

Downsizing often means moving to a smaller, more manageable home and reducing maintenance costs.

But it’s more than just bricks and mortar—it’s about living your best life as an empty nester.

But, from timing to design, costs to lifestyle, there’s lots to think about.

Here are some helpful tips.

When to downsize

The right time to downsize will be different for everyone, however, it’s a common misconception that you need to wait until you’re retired to downsize.  According to Justin Blumfield, executive general manager of residential communities at Ingenia, once you reach around the age of 50, any time is a good time to start thinking about what you want from this next stage of life.

Lifestyle changes

As people transition from one life stage to another, their lifestyles naturally evolve as well.

The family home, once bustling with children who needed ample space to play and their own bedrooms, is full of cherished memories, but largely empty, aside from the clutter.

With the passing of time, maintanence can become more of a burden than a joy. The daunting task of cleaning and the overwhelming demands of outdoor spaces prompt many to seek smaller, more manageable homes that align with their current needs and preferences.

“We’re definitely getting a younger cohort moving into our communities now,” he says. “A lot of people are semi-retired, still working, but looking for a more balanced lifestyle.”

While a passion for gardening is great for the soul, there comes a time when a communal space might feel less overwhelming.

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Empty nesting

Once children have grown up and moved out, homeowners often find themselves with more space than they need. Downsizing allows them to right-size their living arrangements and reduce maintenance requirements.

Financial Considerations

Downsizing can be a strategic financial move, enabling homeowners to unlock equity tied up in their larger homes and potentially reduce ongoing expenses related to mortgage payments, utilities, and maintenance.

Retirement Planning

As individuals approach retirement, downsizing can be part of a broader financial strategy to downscale housing expenses, free up funds for retirement savings, and facilitate a more comfortable retirement lifestyle.

Aging homeowners may find that their current homes no longer accommodate their changing health needs or mobility limitations.

Downsizing to a more accessible property or a community with supportive amenities can enhance their quality of life.

Simplifying Life

Downsizing offers an opportunity to simplify one’s lifestyle by reducing clutter, maintenance tasks, and overall household responsibilities, allowing for greater freedom and enjoyment in retirement or later years.

What are my options

When looking to downsize, Kerryn Deakon, regional manager for NSW & VIC at Ingenia, says to remember it’s not just about downsizing your house, but about “rightsizing” your whole lifestyle.

Deakon suggests choosing  your ideal location—such as a sea change or tree change—then considering your house, local amenities, and financial model.

“Think about options where you’re living around a similar demographic, and you’re at the same point in life experience,” she says.

Being aware of all the options is a great first step when it comes to downsizing.

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Land leasing

Finances are always important, but even more so in retirement. “People want to know what their finances will look like today, but also in 10 years’ time,” says Deakon.

The land lease model is becoming an increasingly popular model for downsizers. Blumfield explains that buyers own their home but rent the land it sits on, while having access to an array of incredible communities facilities such as a pool, pickleball courts, arts and craft rooms or even a lawn bowls green

“They don’t have to pay any council rates; that’s something that we handle in the land lease fee. So, all they have to worry about is paying for their utilities and weekly land lease fee” he says.

Land leasing communities allow downsizers to enjoy great lifestyle amenities without the high purchase price of traditional property transactions.

Choosing the perfect home

Selecting the perfect downsizing home requires careful planning, from decluttering to selecting the ideal floor plan and exploring nearby amenities.

Blumfield emphasizes that Ingenia simplifies this journey by offering homes tailored to downsizer needs.

Choose a home that’s been created with downsizing in mind. Picture: Eugene Hyland

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Ingenia’s range of homes boast a range of benefits, including:

• Designed for longevity and aging in place, featuring wide doorways and accessibility features.
• Light, bright modern design, ensuring a welcoming and spacious living environment.
• Low maintenance and thoughtfully designed for effortless living, allowing residents to focus on enjoying their home rather than upkeep.
• Access to our exceptional facilities, such as tennis courts, pickleball courts, a bowling green, and a pool, providing residents with a luxurious lifestyle without the hassle of maintenance.g arrangements for greater comfort, convenience, and financial security.

“We have a number of home styles available to suit your individual needs, whether it’s two bedrooms and a multipurpose room, or three bedrooms, or getting a single or double garage. With expert help, you can think through what’s right for your lifestyle,” he says.

Getting the most out of downsizing

Blumfield emphasizes the significance of embracing the downsizing journey as an opportunity for active engagement within the community and personal exploration.

“Downsizing represents more than just a change in living arrangements; it signifies a newfound freedom and flexibility to delve into various activities and connect with like-minded individuals.

Connecting with a likeminded community is a huge benefit of downsizing. Picture: Eugene Hyland

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“Whether it’s joining local clubs, volunteering for community initiatives, or attending neighborhood events, downsizers have the chance to forge meaningful connections and contribute positively to their new surroundings,” he says.

Get the most out of life

Downsizing also unlocks the door to a world of exciting possibilities and interests waiting to be explored.

From trying out new hobbies like painting or cooking classes to rediscovering forgotten passions such as gardening or photography, the downsizing transition offers ample time and space to nurture personal growth and fulfillment.

Live on your own terms

On the other hand, for those seeking a more serene pace of life, downsizing provides the tranquility of enjoying leisurely moments at home without the constant worry of maintenance tasks.

Whether it’s curling up with a good book in a cozy corner or simply savoring the serenity of a beautifully landscaped garden, downsizers can relish in the newfound simplicity and ease that comes with their downsized living environment.

Discover new passions

Blumfield encourages downsizers to embrace this transformative phase of life as an opportunity to cultivate vibrant connections, pursue newfound passions, and savor the joys of a more relaxed and fulfilling lifestyle.

“At Ingenia land-lease communities, people have access to incredible facilities every day, from pools to saunas, cinemas, event spaces, yoga, and more, depending on which community you’re in,” he says. He recommends getting involved in a social group but also taking time out for peace and quiet.

“Our lifestyle residents love having the option of exploring new activities, , but they also want to de-stress and enjoy easy living,” he says.