It isn’t uncommon for families to decide to downsize to rented units or retirement communities as a way to swap out their current family properties for a smaller environment. You can start out by purchasing a smaller property and renting it as a way to test the waters before you invest in a more pricey project. You could also try seeking out a retirement village. Many of these communities offer a trial period where prospective residents can test it out before they commit.
Key Takeaways:
- If you’re unsure about downsizing, you can try renting a smaller property first, although this option comes with some additional costs and hassles.
- Many retirement villages offer trial periods in which you can get to know the community and it’s residents before committing.
- You can also make a short trip out to an area where you are considering retiring by taking a holiday there or renting a house for a short period of time.
“Your family home no doubt holds decades of precious memories, from birthdays and Christmases, to weddings, christenings and even funerals, so it’s understandable that you might have some apprehension about selling up and downsizing.”