15.10.2025 (The Upside of Downsizing)
The Upside of Downsizing: Challenges
Study 3. Understand and Addressing Downsizer Challenges
Developers can play a crucial role in mitigating the major challenges downsizers face.
Downsizing can can be like an obstacle course.
Downsizers often struggle to find homes that meet their needs in the right location and price range. The market isn’t always aligned with their vision.
Financial Concerns:
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- Understanding if they can afford a new home is the biggest challenge
- Concerns about body corporate fees are regularly a factor
- Ensuring they sell their current home at the right price to comfortably retire
Dealing with Possessions (Decluttering):
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- This is frequently cited as a major challenge
- The emotional challenge of leaving a long-term family home (e.g. 30 years) can be significant
- Concerns include deciding what to keep and what to discard, and selling or storing furniture
Misconceptions of Living Smaller:
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- Concerns about missing the open space of a large home, both inside and outside
- Adapting to living in a smaller home, particularly for family gatherings, which will “look different” but still work
- Missing a quiet neighbourhood
- Challenges with car parking spaces
- Past issues with renters in complexes and the preference for owner-occupiers
Concerns about noisy neighbours, busy streets, or lack of parking can make downsizers hesitant. Owner-occupier communities, quiet locations, and smart parking solutions make a big difference.
Finding a Suitable Home:
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- It is not always easy to find a home that meets specific criteria
- The biggest concern is finding a suitable property within their price range and desired location