The simple life and family proximity big drawcards for over-55s

Whether you want to kick start your retirement in a seaside villa or enjoy close proximity to amenities in the CBD, downsizing for your golden years doesn’t have to be a daunting experience.

According to Ray White City Residential Selling Principal Brent Compton, retirees are predominately looking for low-care properties near their family members.

“The first thing they’re looking for is single level,” he said. “That would be of paramount importance to most retirees.

“They have to be close to their loved ones. They also want to have the lifestyle they’ve earned throughout their lives. That’s why coastal properties are suitable for retirement – you get the best of both worlds, where the grandchildren and family might live just inland a bit.”

Mr Compton said the inner-city of Perth was seeing a resurgence in popularity amongst retirees for its lock-and-leave potential.

“The inner city is another area where we’re seeing retirees return to,” he said.

“I’ve sold many properties in the inner-city of Perth to retirement-aged men and women who want to be close to medical services.”

With so many different ways to enjoy retirement living, some retirees are choosing to take up a grey nomad lifestyle.

“Up until recently when travel was a bit more frequent, retirees were buying lock-and-leave apartments and heading overseas,” Mr Compton said.

“I would say there would be literally thousands of retirees who plan to do that as soon as international boarders open and they can get back to their travelling ways.”

Mr Compton shared some selling tips for when the time comes to offload the family home and downsize.

“When you’ve been in a house for a long time you’ve got a lot of things that you like, but it might not be best for show presentation and neutrality going into the marketplace,” he said.

“It’s a good idea to focus on styling and marketing – a good real estate agent would advise that you’ve got to get presentation right if you’ve been there for 20 or 30 years.

“Take a couple of months to get it ready, because the last couple of months could be worth $1000 to $2000.”

Seniors Own Real Estate Managing Director Mike Graebner specialises in marketing services to the over-55s sector.

“Generally retirees are looking to downsize and get smaller ground – so that could be in the form of an apartment, villa or unit” he said. “It all depends on location and budget.

“Retirement units can vary in price considerably between older style units and more modern units.

“The question to ask is, what is my budget? What is my current home worth?”

According to Mr Graebner, identifying what you want your retirement to look like is key to planning for your golden years.

“Retirees have to think about the size, how many bedrooms and bathrooms and if they want a single or double garage.

“Community facilities are a popular one too; retirees want to be close to healthcare, public transport and shopping centres.”

For those looking for extra support and a vibrant social community, Mr Graebner recommended retirement village living.

“The people within the villages are very supportive of everyone,” he said.

“You hear lots of stories about someone without a car and they need taking down to the shops, so a friend in the village comes and gives them a hand.”