Top 10 Reasons for Downsizing - Nihal Peter

The stamp duty concession has always been a major factor in the owner/occupier buyer off the plan. This has been a great incentive over the last 5 years. Other than this, the 10 factors that have really influenced and contributed to the downsizer buyer in securing an off the plan purchase particularly in this time of covid uncertainty
Everybody wants to feel safe and secure and even more in their own home. 60-70% of our buyers are Baby boomers, they have lived in their homes for 20-30 years, the kids are all gone and they find themselves in their big homes by themselves and they are only really using a few rooms at the most. As well as the high maintenance, they really don’t feel safe.

Coming into a boutique development, with secured entrances, cameras, contactless lifts, basement carparks, intercoms and above ground apartments, they feel a lot more safe and secure.
Community Connectivity:
Lifestyle change buyers are always looking for areas which can connect them to multiple suburbs, cafes they can walk to and public transport. Most downsizer buyers enjoy not having to drive all the time and it really gives them that sense of freedom. Downsizer buyers within a 10km radius of the CBD can take a tram into the NGV one day and the next they can be shopping on Chapel st South Yarra, without having to worry about Parking tickets and Traffic
Being able to walk to a local park, or to a restaurant to catch up with friends is something that is important to our purchasers. The luxury of leaving their car in their secure basement car park and walking really makes them feel like there are maximising the areas potential.
Low Maintenance:
The amount of hours spent in the garden, mowing lawns, attending to house maintenance is much better spent travelling. A lot of downsizers embrace their new sense of freedom, after decades spent cleaning and upgrading, being able to walk into a stunning, brand new residence, with the latest appliances and modern features, gives them a new lease on life, much more time can now be spent with friends and family on the golf course or sitting on their new balconies entertaining.
Single Level Living:
As simple as this is, this is a major selling point. Stairs and multi storey residences are what lifestyle buyers steer clear of. To have a townhouse or house sized residence on one level with a great private outdoor area is a dream come true. This is what we find drives a lot of buyers to start looking at the market
Family Acceptance:
Owning and living in a home for decades always carries a large sentimental attachment with all home owners. With children who are now parents and with grand children and sometimes even great grandchildren, having a beautiful new apartment in an area with amenities they can connect with, like swimming pools, shopping strips and even sports clubs. A lot of our downsizer families really see the benefit of having 2-3 other bedrooms allowing grandkids or overseas guests to stay and can be easily accommodated. For example, The Park Residences Caulfield North has Caufield Park right on its doorstop and some of the apartments are so large they have two living areas. 
Developer Reputation:
360 Property Group work with the best developers in the country. We pride ourselves on the projects we sell and each one is something we would recommend to our own family and friends to buy. Our reputation and past projects are extremely important and this is something we always encourage our buyers to look into
This is really important, we spend a lot of time with our clients to ensure that we know what their current residence is worth.   We help them find something that is perfect and right moving into their retirement
With the traditional list and sell purchase, a lot of buyers can feel rushed and pressured, they list their home and need to find something quickly to then coincide with the settlement of their existing home, this can cause high levels of stress especially if you have been in a home for over 20 years. With off the plan, once the apartment is secured, there can be anywhere from one year to two years until completion. We find that downsizers love this, they have a lot of time to scale down and mentally prepare for the move and have extra time to say goodbye to a house that has given them so many memories
This is one benefit that all buyers enjoy. Being able to fully customise their new apartment and cater for exactly what they require is a really enjoyable part of the process for us and the buyers. All lives are different and people have such a vast array of needs and styles, so to cookie cut this with one fit out or design is too hard. Giving our buyers the freedom and opportunity to change their floor plans and finishes is a huge plus. There is nothing more rewarding when we are informed from our buyers that they love showing people their new residences and telling their friends and family what part they had in the final product.

Sales Executive

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