Downsizing is often less about a smaller home and more about freeing up money, simplifying life, and getting the timing right.

I am thinking about downsizing. What should I consider first?

Start with what you want the move to achieve. Releasing equity, reducing or clearing your mortgage, lowering your running costs, or moving closer to family all lead to different decisions. Once the goal is clear, the finance and timing fall into place around it.

Do I even need a loan if I am buying somewhere cheaper?

Often not, or only a small one. If your current home is worth more than your next place, the sale may fully fund the purchase with money left over. But the timing of sale and purchase still needs managing, and sometimes a short-term facility helps bridge the gap. We work out whether you need any lending at all.

How does downsizing affect my retirement or pension?

This is where downsizing gets complicated, and where it pays to get proper advice. Releasing equity can change your Age Pension assessment, because money in the bank is treated differently from money in your home. There are also superannuation rules that let eligible people contribute proceeds from selling their home. These sit with a financial adviser and accountant rather than a broker, but we will flag where you need that advice so nothing catches you out.

Can I still get a loan if I am retired or near retirement?

Yes, but lenders assess it differently. They want to see how the loan will be repaid given your income and assets in retirement, rather than your current earnings alone. It is more involved than a standard application, and some lenders are far more comfortable with it than others. Knowing which lenders suit your situation is exactly where a broker earns their place.

What costs come with downsizing?

Selling costs such as agent fees and marketing, stamp duty on the new purchase, conveyancing, and moving costs. Even when you are buying cheaper, these add up. We include them in the picture so you know the genuine amount you will walk away with.

How do I time the sale and purchase so I am not left in between?

The same buy-first versus sell-first question applies as it does for upsizers, just with more equity behind you. With a valuable home to sell, you usually have more room to manage the timing, and bridging finance is a safer option if you want to buy before you sell. We plan the sequence with you so the dates work.

How does a broker help with downsizing?

We work out whether you need finance at all, structure any lending around your retirement position, manage the timing of sale and purchase, and point you to financial and accounting advice where the decision touches pension or super. The aim is a move that leaves you genuinely better off.