Blueheath at the Bower

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Downsize when your house no longer fits you Medowie Newcastle Port Stephens

It’s a lifestyle decision

When considering options for downsizing, retirees are often concerned about the financial implications and how this will impact their ongoing living expenses and future estate. 

Geoff Whiddon, an expert financial advisor specialising in retirement from Dome Financial Group in Charlestown, advises that when considering a move to a retirement village, downsizers should do their research. Go to the village, look at the plans, meet existing residents, ask questions about what is and isn’t included and how the financial model works.

Whiddon suggests clients look at the value they are getting for the costs involved. “Ultimately a move to a retirement village is a lifestyle decision. If the lifestyle on offer at a retirement village appeals to you and you want to be part of the community and have access to the resort-style facilities, then it can offer great value for money.” 

Geoff advises potential downsizers seek independent financial advice on the best way to manage the change financially for their individual circumstances. 

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