Advice

Downsizing? Consider these things before taking the plunge

By Noel Whittaker
Updated December 7 2023 - 9:24am, first published December 4 2023 - 6:00am
Arm yourself with knowledge about all facets of downsizing your home. Photo Shutterstock
Arm yourself with knowledge about all facets of downsizing your home. Photo Shutterstock

Government policy makes it clear that retirees are expected to use the equity in their home as part of their financial resources. This can usually be done in either of two ways - by downsizing, or by taking out a reverse mortgage. Remaining in a large home that requires increasing maintenance may not be a realistic option, so let's think about downsizing.

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