Friday, 8 January 2021

Most Aussies believe now is a good time to buy property, but are they right?

Aussies are more confident in buying real estate than they were pre-pandemic. Photo: Dion Georgopoulos

Most Aussies believe now is a good time to buy property, but are they right?


Two-thirds of Australians believe it is a good time to buy property, the highest figure since mid-2019, according to a new survey.

Many people have quickly shrugged off doubts about the property market, and are more confident in buying real estate than they were pre-pandemic, the national survey of more than 23,000 people, conducted each month by comparison platform Finder, found.

In April, as Australia was in lockdown and braced for what was expected to be the worst recession since the Great Depression, just 42 per cent of respondents thought it was a good time to buy real estate.

Finder’s international insights manager Graham Cooke said the public’s perception of the security of the housing market took a huge hit as soon as COVID-19 arrived in Australian.

“No one knew how deep this hole was going to be and its impact on the economy,” he said.

“But it was pretty quickly alleviated and now people are more enthusiastic about buying property than before [the pandemic].”The share of people surveyed who think it is a good time to buy property rose after the economy emerged from April’s national lockdown. Photo: Finder survey

The survey also found those who expect property values to “somewhat increase” is up to 44 per cent, from lows of 18 per cent in April.

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Mr Cooke said leading economists were even more positive about the economy and housing market than the public. All of the 40-plus economists Finder surveyed in December believed Australia would stay out of a recession in 2021.

Related: Australian housing prices tipped to bounce back in 2021, except inner-city units: economists
Related: Home values rise in capital cities and regions in December: CoreLogic
Related: The crazy prices people paid for derelict houses this year

“It’s very positive for the housing market,” Mr Cooke said. “All the lights are shining at the same time.”

After the doom and gloom of 2020, is there now a golden window of opportunity for buyers and sellers? Or, should one tread with caution when considering entering the real estate game?

CommSec chief economist Craig James said the outlook for property across the country was encouraging.

“At the moment, the interesting thing is, it doesn’t matter where you travel to, home prices are rising,” Mr James said. “There were only two out of 88 regions which recorded falling house prices last month, which is quite remarkable.”

But experts have warned the price of inner-city apartments, particularly in Melbourne and Sydney, could continue to fall this year if national borders remain closed, due to a drop in immigration and international students.

Mr James said there were two major factors at play in the property market: interest rates and job security.

“The Reserve Bank is basically saying the cash rate will remain steady for three years so that gives people a degree of confidence,” Mr James said. “I think that’s an encouraging aspect whether you’re an owner-occupier or an investor.”

Australia’s unemployment rate was also expected to peak at a much lower level than initially anticipated.

“But the issue is we can never be too alert for changes in the economy, and in the health status of the nation,” he said, referencing outbreaks of coronavirus and the possibility of more lockdowns.

“We can never get too complacent until the bulk of the population is inoculated.”

There was also the risk of policy mistakes, he warned, particularly around the future of stimulus packages introduced last year to cushion the economy.

“If the Reserve Bank and federal, state and territory governments want to ease back on some of the support measures, they need to do so in a gentle fashion otherwise there will be fresh downturns in the economy.”

Rich Harvey, buyer’s agent and CEO of, cautioned vendors and buyers of “economic wobbles” in 2021.

“We’ll see difficult news and negative headlines,” Mr Harvey said. “But it’s about buyers understanding the bigger picture; property is a long-term proposition.”

The end of JobKeeper in the second quarter would probably have a “muted effect” on the property market, he said.

“Some commentators are suggesting there will be large volumes of mortgage defaults, but the evidence is very scant,” Mr Harvey said.

“My advice to buyers is not to rush, but don’t delay it either.”

For home-owners thinking about moving, he cautioned against waiting in the hope of snaring a cheaper property.

“As long as you’re not selling and then waiting to buy, thinking that the market is going to fall,” he said.

Thursday, 7 January 2021

Singapore private home prices increase by 2.1% in fourth quarter

A view of private residential homes and executive condominiums in Singapore. (File photo: Reuters)

SINGAPORE: Private property prices in Singapore rose 2.1 per cent in the fourth quarter of 2020 from the previous quarter, according to flash estimates by the Urban Redevelopment Authority (URA) on Monday (Jan 4).

This compares with a 0.8 per cent increase in the previous quarter, said URA.

For the whole of 2020, private home prices rose by 2.2 per cent, compared with the 2.7 per cent increase in 2019.

Ms Christine Sun, head of research and consultancy at OrangeTee & Tie, said that the fourth-quarter increase was the steepest quarterly increase since the second quarter of 2018, when prices rose 3.4 per cent quarter-on-quarter.

Prices were driven by the Rest of Central Region, which rose 4.8 per cent in the fourth quarter, followed by the Core Central Region, where prices increased by 3.3 per cent. Prices in Outside Central Region increased 1.7 per cent in the quarter.

For the whole of 2020, prices in the Core Central Region fell by 0.2 per cent while prices in the Rest of Central Region and Outside Central Region rose by 5.1 per cent and 3.1 per cent respectively.

Only a minute to prepare but your guests won’t be forgetting it any time soonSEE MORE

"There were a number of new projects launched in the fourth quarter of this year that could have driven prices higher in these regions," said Ms Sun.

"Prices have also increased at many launched projects," she said.


Investors around the world are gearing up for a steadier recovery in 2021 and that the development and efficacy of the vaccines could be a "game-changer" that may bring the COVID-19 pandemic under control, said Ms Sun. 

"Singapore’s housing market will continue to be boosted by ample liquidity still circulating in the financial system. Buyer sentiment may pick up further on the growing vaccine optimism and Phase 3 reopening," she added.

Property analyst Ong Kah Seng said with the start of Phase 3, it could make property buying sentiments more "upbeat" in 2021.

"Phase 3 could reflect potential economic stablisation and opportunities for longer term property price appreciation," said Mr Ong.

A number of "blockbuster launches" could be released in the luxury and city fringe areas, which may uplift the overall price index, said Ms Sun.

"Overall private home prices may rise by 1 to 4 per cent while prices of new homes may grow at a faster pace of between 2 and 5 per cent in 2021."

There has also been renewed interest in resale properties over the past few months, she added.

"Luxury homes and big resale units have been in demand, while attractively priced private resale homes in the mass market and city fringe areas have been snapped up.

"We anticipate demand for resale homes to pick up further this year while resale prices may increase around 1 to 4 per cent for the full year," said Ms Sun. Source: CNA/lk

Editors Comments:

Hong Kong's loss is Singapore's gain:

I predicted last year that Singapore property values would increase as soon as China came down on all the protesters and ended democracy.


Many multimillionaires and even billionaires have been quietly transferring money out of Hong Kong and into Singapore banks and real estate.

 Especially Hong Kong Govt officials who may be corrupt. In China you can be given the death sentence if you are a government official that is found guilty of corruption. 

At any rate this is not the first time that Singapore has enjoyed abnormal demand from Chinese interests.

 Many years ago, when I noticed spiralling prices in Singapore I issued a sell signal. Soon thereafter prices dropped 20% 30%.


Singapore does not pass Real Estate Acid Test: 

The problem with Singapore is most of their real estate does not pass my acid test.

 After 40 years of brokering, buying and selling real estate in many places in the world I have learned if you cannot buy a two or three-bedroom home or apartment and rent it out for positive cash flow the market is overpriced and will soon fall in any market in the world.


Hong Kong has violated that acid test for a decade as Mainland China Billionaires dumped money onto it. Recently I called it the "Bitcoin of the real estate markets" because it did not make any sense. 

Hong Kong residents who do not want to live under Chinas communist rule are now moving to other places such as Singapore, Taiwan, Vietnam and maybe even Cambodia. 

The smart Hong Kong investors will also be seeking even greener pastures in places such as Indonesia and especially Bali where we have been making positive cash flows for over 2o years.

 Instead of paying $1million for 2 or 3 Bedroom Home in Singapore they can spend $200,000 for the same size property in Bali.

Singapore’s Real Estate Bubble Will Bust:

 So, the bottom line is I expect that for most of this year Singapore prices will continue to rise. At some point in the next two years the bubble will burst when these new buyers realize that they cannot make positive cash flow on most of Singapore Real Estate.

 Simultaneously more Chinese will discover places such as Bali and Vietnam that should have exceptional cash flow and appreciation in the future.

Bali Distressed Properties 20% to 50% Off.

Not only do Bali properties make more sense than Singapore under normal conditions but especially now when you can purchase properties at 20% to 50% off.


Bali property values have been hit harder than other Asian locations because of the COVID - 19 crisis. Over 85 % of Bali’s population depends on tourism which is down over 70 % from last year. 

Asset rich and cash poor.

 Many Bali property owners are forced with the decision to sell their properties at huge discounts now since they have not had incomes for the last 10 to 12 months. 

They need the money to pay for things such as Childs education, healthcare, and simply basic living expenses. 

Most of the properties that they are selling are up over 200% to 1,000 % in the last 20 years so they will not mind giving up 20% to 50% of that.


Many are asset rich and cash poor.

 We are so bullish on Bali Real Estate for the Balance of this decade we spent considerable time and money to launch a brand-new high-tech website a few months ago called Best Bali Real Estate where you can look for properties without any keyboard input. 

You may simply use your mouse on your PC or finger on your mobile phone to locate the Best Bali Properties at the best prices in the Best locations.


It is also why we started a new section of our website called Bali Distressed Properties which are selling for 20% to 50% off prices one year ago.

 These will not last long as vaccines are distributed, and the world gains control over COVID-19. 

As soon as tourists begin to return to Bali, which could be as early as Easter, the huge discounts will disappear.

So, if you want to purchase properties at 20% to 50% off normal prices act now and click this link Bali Distressed Properties.

 Two of these properties have been sold to British and Australian interests in just the last few months. There are only a few remaining.

 Free Bali Real Estate Appraisals:

 We need more discounted properties now.

If you have a property in Bali that you own and are willing to deeply discount for immediate cash contact me directly at 08123814014. Or click this link Free Appraisal.

Bali Luxury Retirement Villas

Only 2.98 Milyar (* $184,888 U.S.D. or$268,888 Aus.)

You may now Invest, Vacation or retire full time or part-time in Bali while achieving very handsome returns with this freehold property for Indonesian buyers or over 80 years of leases for Foreign Buyers included in the purchase price starting at USD 184,888.
Pretty well everything you need to know including location, prices, and designs plus information on Bali and Bali retirement visas is available on our web site

These brand-new luxury retirement villas are located only 200 m or a three minute walk from one of the best beaches on the east coast of Bali.
Swimming, snorkeling, surfing, horseback riding, and several new high-quality beach clubs are within walking distance.

The following Information is available on our website:

Features of © Bali Luxury Retirement Villas as low as * $184,888.

•100% legal for foreigners.

• Includes leases totaling 80 yrs.

• Private carport included.

• Private 8 m (27 Ft.) pool** for leisurely laps.

• Only 200 Mtr. To a fabulous beach, restaurants, beach clubs.

• Great investment for you and your heirs.

• Private Housekeepers & drivers, only $200 MTh.

• Healthcare at a fraction of Western costs.

• Brand-new hospital within five minutes.

• Award-winning International Airport 35 min.

• Proximity to Sanur, Ubud, Denpasar.

• Walking distance to affordable restaurants and beach clubs

• Shared low costs of pool man and gardeners.

• Minuscule monthly common area fees.

• Managed by 15-year-old, Hall of Fame award-winning management company.

• *Price of the least expensive villa in U.S.D. after $10,000 Discount for the first two villas only. Subject to change without notice.

Developed and managed by 14-year-old Hall of Fame award-winning Bali company.
Our 15-year-old Bali company Pt. Bali Affordable Lifestyles International (PT. B.A.L.I.) with over 100 + staff and thousands of satisfied clients guarantee completion of any villas purchased now in 2020.
We are a Ten-Year Consecutive “Certificate of Excellence” recipient on the World's Largest Travel Site and was awarded their "Hall of Fame Award", in 2019. This is awarded to only 2 % of the Hotels & Villas listed on TripAdvisor Worldwide"

These villas offer you an opportunity to own a luxury home on arguably the Best Island in the world with some of the greatest weather, lowest cost of living, clean air, and friendliest people.

Profit Now Move in Later:
You may not be ready to pack up and move to Bali in the next few years.

So, you may purchase now at these ridiculously low prices and we can normally rent them out for you for a monthly income of $1,500 to $2,000 U.S.D. per month.
Our 15-year-old “Hall of Fame” the award-winning management company that manages villas for V.I.P.s such as the former director of General Electric and Ritz Carlton can provide substantial net monthly income to supplement your pension while providing a carefree rental unit.

Confused? We understand that you may have concerns that we may not have even thought of, so feel free to ask whatever questions you wish.

We do not want you to even think about purchasing our © Bali Luxury Retirement Villas unless you are 100% convinced that they are safe, and perfect for you and your family.

Limited Offer: Save $10,000: 

As with any new project we are anxious to sell the first few villas.

We have one already on hold and are only willing to offer one other villa at a $10,000 discount. First come first serve.

Free Stay in Luxury Estate:

If you wish to fly over and see the location first after you place a USD $2,000 Deposit we will offer you free accommodations in a 4 bdrm, 5 bath luxury beach view estate with a private 14 m pool for three days within walking distance of the location.

When you decide to conclude the purchase, we will extend the free estate accommodation for an additional four days.

Should you decide not to continue with the purchase we will refund your $2,000 Deposit minus $200.00 for the three-day stay.

Thank you for taking the time out of your busy schedule to review this information and information on the website. If there is any further information we can provide you please do not hesitate to ask.

Cheers, THE SALES TEAM © Bali Luxury Retirement Villas

PLEASE CALL OR EMAIL US: Tel: 62-361-284069 Mobile or Whatsapp 62-812-3814014 Email:

P.S. We also have several larger villas available from two-bedroom to four-bedroom starting as low as $158,888.

Save $100,000 On Huge Estate  

Only $488,888 Freehold or 80 year leases

For those of you that want to live in luxury for a fraction of Western costs we have this magnificent four bedroom five bathroom 450 m² luxury estate with a private beach entrance in a beachfront complex with views to die for.

Please contact us if you wish for further information. Tel: 62-361-284069 Mobile or Whatsapp 62-812-3814014 Email:
Are you tired of traditional investments such as banks and bonds that only offer 1%- 6% per year, which may not keep pace with the real inflation?
Do you want to become rich the way over 60 % of self-made multi-millionaires did?

“Become rich the way over 60 % of self-made multi-millionaires did?”

According to PT. B.A.L.I., one of Bali's leading real estate experts for the past 14 years, who have thousands of satisfied clients, this is the “Second best time to purchase Bali Real Estate this century”.

“Second best time to purchase Bali Real Estate this century”.

Recent recent clarification of Bali real estate laws for foreigners allowing them to obtain control of Bali Real Estate for more than normal life is creating a huge new demand for Indonesian and Bali Real Estate.

Coupled with the fact that Bali Real Estate has recently undergone the first correction in modern history with prices down as much as 50 % this may have set the stage for *increases of 20 % to 100 % in the next three to five years.

Free Bali Real Estate Seminar Video:

Whether you are a buyer, seller, broker, agent, investor, lessor or renter you can benefit from viewing PT. B.A.L.I’s latest Free Bali Real Estate Seminar Video filmed just a few months ago.

At this seminar PT. B.A.L.I’s Canadian President, a 23 yr. Bali resident, who is married to a fully Licenced Indonesian Notaris reviewed the most recent real estate laws for Indonesians and Foreigners in detail.

He also discussed the Past, Present, and Future of Bali Real Estate.

Click Here to view the latest Free Bali Real Estate Seminar Video

 Free Seminar Topics:

During this Free Bali Seminar Video you will learn about:
>The Past, Present and Future of Bali and Indonesian real estate.
>Why a recent official clarification of foreign ownership laws allows foreigners to totally control Indonesian properties for up to 80 years.

> How to avoid legal problems and make sure a property is safe.

> How to avoid complicated real estate laws - Indonesians married to foreigners.

> Why this is the second-best time to buy this century.

> Where are the best locations to buy for maximum profits?

> What type of properties will offer the best potential of *10% to 20 % per year?

> Discover how you can sell your property fast for the highest prices and lowest commissions.

> An opportunity for a free listing on B.A.R.E.

> First Class Beachfront property at almost 50% discount.

> A Quality 5,000 m2 Bali Hotel with 12 bungalows, 3 pools, and Restaurant for only $588,000.

> Low-cost properties with Luxury Villas starting as low as $158,888 for a three-bedroom 650 m² 3-bedroom, 4 - bath with private 9 - meter. Pool in Sanur.

> Ridiculously low-priced ocean view building lots starting as low as $25,000 for 500 m².

> Brand New Bali Luxury Retirement Villas starting at $184,888

To share this information copy this link & send from The Seminar Speaker:

So, what have you got to lose? It’s Free and very Educational.
Click Here to view the latest Free Bali Real Estate Seminar Video

Feel free to contact me directly for a free private consultation at my office in Sanur.

Lawrence B.M.B, Owner, President, Director

Tel or Whatsapp +628123814014 Email:

Free one-hour legal consultation:
For a free one-hour legal consultation you may contact my Partner & Wife Azizah regarding anything from Indonesian Laws, Establishment of legal companies, securing proper visas, Marital contracts including prenuptial's post nuptial’s, etc.

Tel or Whatsapp +628113864993
Head Office: Jl. Karangsari # 5, Sanur, Bali, Indonesia 80228 Tel. Office: 62-361-284069 Fax: 62-361-270143,
Mobile: or Whatsapp: English: 62-8123814014 Bahasa Indonesia: 62-8113864993 Email: Skype: baliagents

Sunday, 3 January 2021

Hong Kong’s worst recession on record points to bleak outlook in 2021 for residential property and commercial real estate prices

Editors Comments: I've been Hong Kong real estate the Bitcoin of the real estate markets because like bitcoin the last round and this round it continues to go up for no reason.

Fundamentally and technically Hong Kong real restate looks terrible.

Nothing makes sense, because you can't rent anything out for a positive cash flow in the residential market.

I believe many Hong Kong owners and investors will feel skittish now that China has declared virtually martial law over Hong Kong allowing no more democratic protests or comments.

They will be moving to places such as Taiwan, Singapore and even Bali in the near future.

I agree with the conclusion below the Hong Kong real estate prices look bleak for 2021 and for the near future.
Mass market and luxury home prices are expected to drop between 5 and 10 per cent in 2021 on lower transaction volumes, say analysts

The pandemic will affect the uptake of grade A offices, with Cushman & Wakefield predicting rents to fall between 11 and 16 per cent this year

Lam Ka-sing

Published: 10:00am, 2 Jan, 2021

Hong Kong’s property market will be subject to the vagaries of the economy in the new year. Photo: Roy Issa

The coronavirus pandemic will continue to weigh on all segments of Hong Kong’s property market this year. From mass housing to luxury residences, from offices to shops, no major segment will be spared from the recession and rising unemployment, analysts say.

A straw poll of 20 analysts, agencies and developers by the South China Morning Post on housing prices in 2021 showed six expect them to drop, seven were unsure. Only seven predicted outright gains.

“The uncertain economic and business outlook and weakness in labour market conditions are likely to impact mass residential severely despite very supportive borrowing costs and fundamental demand-supply imbalance,” said Harry Tan, head of research for real estate in Asia-Pacific at Nuveen. The firm is among the most pessimistic in the poll by calling a 5 to 10 per cent drop in mass residential prices in 2021.
The government has forecast the city’s economy to shrink by a record 6.1 per cent in 2020, surpassing the 5.9 per cent slump during the Asian financial crisis in 1998. Unemployment, already at a 16-year high of 6.4 per cent in the July to October period, is expected to worsen after the government’s HK$81 billion (US$10.3 billion)
wage subsidy scheme to preserve jobs ended in November.

Fourth wave of coronavirus cases in Hong Kong prompts tougher Covid-19 measures

Fourth wave of coronavirus cases in Hong Kong prompts tougher Covid-19 measures
The fourth wave of coronavirus infections has already put a dampener on secondary home prices. The official price index for lived-in homes slipped 0.2 per cent to a seven-month low of 380.4 in November, putting them on course for the first annual drop in 12 years. Analysts believe the full impact of the current spike in Covid-19 cases will show up in December’s data, which will be released at the end of January.

The luxury property segment, usually resilient to the economic vagaries, could see a decline between 5 and 10 per cent in prices, according to JLL, adding that activity is likely to be remain low this year.

“Although market activity is expected to pick up mildly when the Hong Kong-China border reopens, in times of high economic uncertainty, transaction volume will remain much lower than historic levels,” said Nelson Wong, head of research at the consultancy.

Tan of Nuveen sees volumes for both mass and luxury segments trending lower because of the “still very uncertain macro landscape”.

The pandemic and rising unemployment will also affect the uptake of grade A offices from businesses, particularly in the central business districts of Admiralty and Central, observers said. As work-from-home becomes a norm, landlords will respond to occupiers’ desire for more flexibility and make use of vacant space to offer more flexible workspace and shared amenities, putting their development properties in competition with the established flexible workspace operators.

Under such a scenario, Cushman & Wakefield forecasts grade A office rents to fall between 11 and 16 per cent in 2021, managing director John Siu said.

“Competition among landlords will intensify as they begin marketing of several new office buildings set to launch in 2022,” Siu added. Price cuts generally follow as desperate landlords offer bigger discounts to attract tenants, he said.

On the retail front, analysts see traditional prime areas such as Queen’s Road in Central and Russell Street in Causeway Bay to be affected the most. As such, overall retail rents are seen retracing by 10 to 15 per cent in 2021, with industry analysts noting that landlords will be confronted with a new reality.

Landlords will face a difficult choice between offering shops on short-term leases and new long-term leases at a significant discount to the previous rates, which in turn will affect shops’ valuation, analysts said. The new tenants looking to take up this space, most likely retailers of daily necessities and mid-range products, will have lower rental affordability, they added.

Meanwhile, the absence of inbound tourists because of Covid-19 has led to an increase in vacancy rates of shops in Causeway Bay and Central, which stands at over 15 per cent, said Martin Wong, associate director of research and consultancy in Greater China at Knight Frank. “Retail rents will continue to find bottom in 2021.”

Moody’s Investors Service expects the return of tourists to be “gradual” even if travel restrictions are lifted, given the general public’s sentiment around the pandemic. This factor and lingering economic uncertainty will continue to “constrain” the city’s retail sector over the next 12 months.

The rating company also said that the accelerated shift to online shopping because of Covid-19 could further reduce leasing demand from apparel and footwear retailers.

Analysts expect retail rents on Russell Street in Causeway Bay, once the world’s most expensive shopping street, to decline in 2021. Photo: Sun Yeung

Despite the bleak outlook surrounding the property sector, investment appetite remains “solid” among private equity fund managers, who are scouting for opportunities to deploy capital, said Rosanna Tang, head of research at Colliers International.

“Defensive assets such as residential development sites, neighbourhood malls, strategic industrial assets and en-bloc commercial buildings remain popular among investors,” said Tang.

Additional reporting by Sandy Li, Cheryl Arcibal and Pearl Liu

What can Baby Boomers expect when they plan to downsize their home

Editor's Comments:

Since I am a baby boomer I'm well aware that we represent 25% of the population of the world. 

Most of us will be retiring in the coming years.

When retired we don't need a huge four-bedroom home with massive taxes and operating costs.

We don't need to live in a busy, polluted, high crime, traffic congested city.

For the first time in our lives we don't have our children's education to consider.

We are concerned about making our savings last to the end of our lives.

As this article below points  many will be selling their larger homes and moving to smaller homs.

They don't mention that boomers want to move to warm, safe places with which is 70% less expensive to live such as Bali.

This is why I have begun to build quality Bali Luxury Retirement Villas which may be purchased  as little as $184,888 for a Two Bedroom , Two Bathrooms 180 m2 Luxury Villa only 200 Meters form a gorgeous, clean, safe beach.

Baby boomers aged 55 years or older from around the world five can retire here with a five year retirement visa which is easily renewable every five years.

To find out more information contact me, a fellow baby boomer and I will share with you how easy it is retire and also have an excellent investment return while living on what is ranked as the number one designation in Asia and fourth in the world.

Whatsapp me at +62-8123814014 or email me at

What to expect if you plan to downsize your home.

11 hrs ago
If you are nearing or in retirement, you may be reconsidering your housing needs. 

Does your current home feel like it’s too big for your needs? 

Will multilevel living be challenging later in life? 
Do you look at your current home as a source of retirement cash if you can sell it and move into something smaller?

Downsizing is a logical consideration, but it is not a decision to be taken lightly. 

There are a variety of factors you need to consider before you lock into your decision.

Weigh the benefits against the downsides

Depending on the size of your existing home, shifting to a smaller living space is an adjustment. 

You still want sufficient room to comfortably conduct your everyday life. 

This can include entertaining guests and hosting overnight visitors in your house (such as adult children and grandchildren). 

You also want adequate storage and space for your kitchen, home office or workshop.

Longer-term considerations include issues like reducing or eliminating the need to climb stairs to get around your home or making it wheelchair-accessible. 

Limiting outdoor maintenance requirements may be another factor. 

Think about your priorities, and how a different-sized home would meet those needs compared to your current accommodations.

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The financial side

Many believe they will be able to bank a large amount of money from selling their existing large home by moving to a smaller, presumably less expensive one. 

It may not always work out the way you think.

Depending on where you live, you may find that the market for larger homes is not as strong as you’d expect. 

At the same time, with many baby boomers considering the benefits of downsizing, the demand for smaller homes is high, and those homes may be more costly than you think.

As you weigh your options, you may want to ask a real estate agent to help you not only in your search for a new home, but for a market analysis that will help you determine the value of your existing property.

Other financial considerations include potential taxes if you generate a large gain on the sale of your existing home. Check with your tax advisor to find out more. Closing costs are an added expense that will come into play in your transactions.

Planning is important:

Your living space is a core aspect of your life and becomes even more important in retirement since you may be spending more time there. Determining the right type of home and the appropriate location is not a decision to be taken lightly. 

Most important is to make a choice that suits your lifestyle and your retirement goals. 

The financial implications are an additional factor. 

Sheri Bistreich, CFP® is a Financial Advisor with Ameriprise Financial Services, LLC. She specializes in financial planning and asset management strategies and has been in practice for 35 years. To contact her, you may call 704-872-8181. She is located at 642 Signal Hill Drive Ext., Statesville, N.C., 28625.

Most Aussies believe now is a good time to buy property, but are they right?

Aussies are more confident in buying real estate than they were pre-pandemic. Photo: Dion Georgopoulos Most Aussies believe now is a good ti...