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Why Downsize When You Can ‘Rightsize’ Instead?

Why Downsize When You Can ‘Rightsize’ Instead?

June 30, 2022

If you’re on the fence about the benefits of downsizing into retirement, a perspective shift might be the solution. Here’s how the ‘rightsizing’ mindset can refresh your entire outlook.

Although downsizing is already on the minds of older Australians, the term itself can still convey the idea of loss, with very little gain. Introducing ‘rightsizing’! A fresh take on downsizing, rightsizing is about rethinking the process as finding a better fit for your needs in retirement–instead of losing what you once had.

Here are a few ways rightsizing is made-to-measure for retirement living:

The right size for retirement living

Most older Australians are transitioning to smaller dwellings. In fact, the report showed two-thirds of downsizers moved to a dwelling with fewer bedrooms. Self-contained, one-bedroom dwellings like the villas we offer at Blue Hills Village are extremely manageable and beautifully warm and cosy in winter, while maintaining a neighbourly feel and a village-like atmosphere.

A key distinction of Blue Hills Village is our unique range of 1, 2 and 3-bedroom villas, including some standalone options. While apartment living is popular with downsizers, the reality of neighbourly disturbance is almost guaranteed. From foot traffic to excessive noise, the potential impact to your everyday life can quickly add up. Residential communities alleviate the problem with a peaceful environment, relaxed atmosphere, and supportive, like-minded neighbours.

Smaller size, happier life

In the Effective downsizing options for older Australians report by the Australian Housing and Urban Research Institute Limited (AHURI) (2020), most older Australians surveyed were found to perceive downsizing as more than just a reduction in the dwelling size of your home. Rather, the more popular way of thinking is about your physical internal and external spaces becoming more manageable.

Importantly, the report also showed the financial benefit to the household was also top-of-mind for the 26% of Australians aged over 55 surveyed who had already downsized, and the further 29% who were considering downsizing.

More reasons to rightsize

Many of the older Australians surveyed who were yet to downsize perceived benefits including a reduction in property maintenance and household running costs. The report found most Australians downsized for financial outcomes (27%), but this was followed by overbearing maintenance of their garden or property. At Blue Hills Village, residents enjoy fixed fees for life, and this includes the maintenance of beautifully-landscaped gardens with each villa–yours to enjoy as you ‘rightsize’ your way into a happy retirement!

The views and opinions expressed are those of the authors.

Please consult your own legal or financial advisors before making any decisions.