The Rise Of Inner-City Downsizing

In recent news, numerous Australian property experts and developers have been reporting an increase in the number of baby boomers looking to downsize their current residences to smaller properties which offer better lifestyle opportunities.

According to this article by popular property portal realestate.com.au, it’s clear that this trend is on the rise and this emerging market niche is becoming more prevalent across the nation. In this article we explore some of the reasons behind this growing market trend, whilst taking a look at some of the benefits available to downsizers who are considering a move to Paradiso Apartments in the prestigious riverside suburb of Como.

 

It’s Less About What You Own And More About How You Live

As covered in our article The Advantages Of A Lock And Leave Lifestyle, there are significant benefits available to downsizers looking to embrace apartment living, and it’s clear that this trend is growing throughout the Australian property market.

In a recent report by the Australian Housing and Urban Research Institute (AHURI) it was revealed that 27% of survey respondents chose lifestyle as their main reason for downsizing. It’s no secret that downsizing leads to less maintenance, with the allure of central convenience, high-quality furnishings and a better quality of living all high on the list for homeowners looking to change up their current housing arrangement.

“When I eventually moved to a smaller home, it felt cozy, like having a pair of jeans that fit me just right —
no wasted living space and no baggy fabric.”

― Lisa J. Shultz (Author – Lighter Living: Declutter. Organize. Simplify.)

 

Additional Reasons To Downsize

In the same report, released by AHURI February 2020, 27% of survey respondents specified affordability as their sole motivator for making the switch – and for good reason. When looking at smaller properties, in the form of apartments in particular, affordability is a major driver for homeowners looking to trade in their house, villa or townhouse for properties with lower mortgage rates, without sacrificing on important factors like the size of the dwelling.

Some of the additional benefits of downsizing extend to such factors as:

*  Less maintenance needed to run and maintain properties;
*  Increased security thanks to gated communities in private complexes;
*  Flexibility to travel more thanks to a lock-and-leave configuration;
*  Access to shared facilities such as pools, gyms, saunas, rooftop BBQ zones and spas;
*  Central convenience with access to local amenities and services.

The list goes on, but these advantages act the most prevalent motivators for most downsizers looking for a change of scenery.

 

“While downsizing may include a reduction in dwelling size, to older Australians it points to a housing aspiration
where the internal and outdoors spaces are manageable, and represents a financial benefit.”

– Dr Amity James (School of Economics, Finance and Property, Curtin University)

 

Downsizing Patterns Throughout Australia

With recently introduced government incentives such as the 75% stamp duty rebate now available to entice sales throughout the Australian property market, there has also been significant investment towards piloting and implementing incentives to support downsizers.

In a recent report entitled The Downsizing Patterns And Preferences Of Australians Over 55 the Australian Housing and Urban Research Institute analysed the most popular motivators for homeowners looking to downsize across several age brackets.

One of the key takeaways from the survey data is the desire to downsize to more compact property configurations, without sacrificing on space, specifically the number of bedrooms. When delving through the data, it was revealed that of the 73% of households yet to downsize, just under 80% stated their current number of bedrooms was sufficient for their needs later in life, with only 4% wanting fewer bedrooms. When looking at households who had already downsized, two thirds enjoyed the convenience of spare bedrooms, so it’s clear that spare rooms and space are still crucial in the decision-making process.

Additional to the need for spacious, accessible and comfortable configurations, downsizers were also open to moving to new locations if it meant it suited their lifestyle. When analysing the specific numbers, 42% of households who downsized had moved to new neighbourhoods, so the notion of location, location, location is still very prevalent.

 

 

Finding Your Perfect Downsizer Apartment

If you’re looking for the perfect downsizer apartment that gives you plenty of space to knock around, situated in an area that you already know and love, and removes the time-consuming maintenance that you’re currently dealing with on your larger property, Paradiso Apartments will not disappoint.

With spacious two and three-bedroom options available to buyers, including a choice of prestigious penthouses on offer in the premier floors of the complex, Paradiso offers a full suite of lock and leave convenience and high quality boutique living, without sacrificing on the importance of space and livability.

✔️ Ample space to live and entertain with two-bedroom apartments configurations ranging from 101 – 128m2, and three-bedroom configurations ranging from 143 – 193m2.

✔️ 3-bedroom floor plans that give you extra space for a study, guest room or a dedicated space for your family or grandchildren.

✔️ Brand new high-end features and finishes.

✔️ Stunning riverside & city-views within vibrant Como.

✔️ Walking distance to the leisure, shopping and entertainment that you already love.

✔️ Rooftop entertainment area, gardens, pool and an onsite gym (without the maintenance).

Paradiso downsizers also have access to two exclusive 3 bedroom x 2.5 bathroom apartment plans that both include two spacious balcony areas – one off the main living area, which is perfect for opening up your living and entertainment space, the other is situated off the master bedroom providing you with an exclusive outdoor retreat. Both floor plans offer 193m2 of internal living space featuring separate dining, living and kitchen spaces, a large master bedroom with walk-in robes and ensuite and an additional space that can be utilised as a fourth bedroom, a large study or even your own theatre!

 

TYPE 1 – 3 Bed x 2.5 Bathroom

paradiso 3 bedroom apartment floor plan

TYPE 2 – 3 Bed x 2.5 Bathroom

paradiso 3 bedroom apartment floor plan

Download Floor Plans

Situated within a stone’s throw to the Swan River in the vibrant riverside suburb of Como, Paradiso provides an unrivalled lifestyle for future buyers to enjoy in one of Perth’s most treasured locations. We explore the lifestyle on offer at the prestigious riverside location in our blog entitled Como – A Day In The Life which takes you for a walk through some of the favourite local spots within the famed 6152 postcode.

Paradiso Now Qualifies For 75% Stamp Duty Rebate

Apartments are selling fast, so if you’re looking to downsize to a central, boutique property within one of the best riverside locations in Perth, the fantastic news is that Paradiso now qualifies for the 75% Stamp Duty Rebate up to $25,000 if you purchase before December 31st 2020. Combine this with our exclusive developer incentives available to Downsizers, for a limited time-only you could get access to up to $50,000 worth of incentives to help you purchase a brand-new Paradiso apartment.

If you’d like to find out more about the stamp duty rebate, our developer incentives or apartment availability, we welcome you to contact us and we’ll be happy to answer any questions you have. Be quick because Paradiso is selling fast with around 50% of apartments now sold!

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