The sought-after downsizer cohort is a growing market in Sydney’s upper north shore.
As the baby boomer population moves into retirement, many buyers are looking to sell the family home and move into a smaller property.
Some are hoping to use the profit from the sale of their home to contribute to their retirement, while others are moving into a more manageable property for lifestyle reasons, or seeking a change of location.
“Downsizers are a very diverse lot,” the Australian Housing and Urban Research Institute Associate Professor Bruce Judd told Domain in June. “You just can’t stereotype them.”
So what have our recent downsizer buyers been looking for? We’ve analysed some of our popular recent listings to come up with this list.
1. Spaciousness, even in a smaller home
It might be surprising to some, but many downsizers are more interested in three-bedroom dwellings than smaller homes. Because they have lived in a sizeable home for a number of years, buyers often seek a feeling of spaciousness, even if the home itself is quite small.
Single-level homes with some outdoor area are also very popular: a courtyard, garden or balcony can give a greater sense of space.
2. Ready to move immediately
While some downsizers do look for a renovation challenge in their retirement, we’ve noticed a large number of recent buyers are hoping to move into a new or recently-renovated home.
We’ve seen a lot of interest in the brand new, beautifully-finished townhouse at 11 Reely Street Turramurra, with buyers particularly taken with the lovely kitchen and easy-to-maintain courtyard.
3. A unique, character-filled home
Just because a buyer has decided to sell their family home does not mean they are willing to sacrifice style or character. Homes in boutique developments with a unique style and a sense of privacy are always of interest to downsizers.
The fifteen luxury townhouses in “Avignon,” the French-inspired boutique development at 5 Cherry Street Warrawee, received a lot of interest from downsizers due to their character-filled design, intuitive open plan, and grand, light-drenched interiors. They also featured internal lifts, which will allow buyers to continue to live in a three-storey property well into their retirement.
4. A connection to community
Retirement can be an isolating time for some, leading a number of downsizers to seek out locations which will allow them to foster lasting connections with their community.
The over 55s complex at 2/185 Eastern Road Wahroonga is perfect for downsizers because they can slot right into an existing community while maintaining their independence.
If you think your home would be a good fit for a downsizer and would like to chat with one of our team, give us a ring today.