Downsizing Decision Calculator
🏠 Downsizing Decision Calculator
Calculate costs and net equity when downsizing your home
Important: This calculator provides estimates for planning purposes. Actual costs vary by location and circumstance. Always consult a professional before making decisions.
📍 Your Location
🏡 Your Current Home
🏘️ Your New Home
👤 Your Situation
💡 Downsizing Tips for Seniors
- Get professional advice: Consult real estate agents, lawyers, and financial advisors before making decisions.
- Understand all costs: Agent fees, legal costs, stamp duty/transfer taxes can add up significantly.
- Consider timing: Selling in a strong market and buying in a slower market maximises proceeds.
- Check pension impacts: Releasing equity may affect Age Pension or benefit eligibility.
- Tax implications: Even with exemptions, partial use or timing can create tax liabilities — seek tax advice.
- Retirement villages: Understand entry fees, ongoing charges, and exit fees before committing.
- Emotional factors: Leaving a long-term home is significant — ensure you're ready emotionally.
- Check accessibility: Ensure new home suits current AND future mobility needs.
- Community matters: Proximity to family, friends, medical services, and amenities is crucial.