Our Community Cares: downsizing 5

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This week, community member Lyn Booker wrote to us, asking for some community advice:

“Hi there just wondering what to do want to sell our home and downsize we hoping to come out with 350,000 do I use the money to buy and own our next property or pay debts off”


Do you have any advice for Lyn? What did you or would you do in this situation? Tell us below.

Starts at 60 Writers

The Starts at 60 writers team seek out interesting topics and write them especially for you.

  1. My wife and I downsized 2 years ago, moving from a reasonably big house in what was a relatively well to do suburb (Glen Waverley) to an up and coming beachside suburb (Aspendale). Now there were two options, selling our old place gave us an exceptional value growth since we bought it 24 years ago, so the option was buy one side of the railway line for one price or the beach side of the railway line almost beachfront for a couple of hundred thousand more. Now, my wife always wanted to live beachside, so this is what coloured our thoughts. So we could have had $350,000 in the bank, but we finished up with $150,000 in the bank, and a house where we wanted to be. Hope it helps you.

  2. We have to downsize very soon I would like to go somewhere near a beach I think, can’t quite decide, but have to be near good medical services and hospitals

  3. Being within walking distance of a small shopping centre that stocks products required for everyday

  4. I live 150m from Sydney CBD in an older cheaper unit – walk to shopping and work – I rarely drive (I think 3000km last year, and that was mostly visiting long distance friends) – healthy, meet neighbours for a chat on the footpath, interesting, and no cost – my 23yo car cost me $2400 last year, and most of that was rego/insurance/depreciation, in other words just for sitting in the garage ! Net cost about 80c/km driven. So I’m thinking of selling that and renting my carspace to make money rather than burning it.

    Common stories about moving – may lose established social networks, hard to recreate in new places where you may feel lonely without them. But living in a compact unit – lock and leave, travel overseas, perfect !

  5. My husband wouldn’t dream of downsizing but I am finding it hard to keep house & garden in good condition

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