Case Studies

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DOWN-SIZING RETIREES
PETER AND LARA

CLIENT REQUIREMENTS

Peter and Lara (mid 70’s) had lived in their home for nearly 40 years, it was the perfect home for raising their family.

Their children are now adults and had long left the nest, so they decided it was time to retire to a smaller more manageable property.

They also realised the potential of using the equity for their retirement plans.

The couple decided that they were not yet ready to move into a retirement home, they wanted to maintain their independence.

CLIENT SOLUTION

Peter and Alon conducted a thorough search of land sites and properties, until they found a new house that met all of the couple’s criteria. Their existing home was sold for nearly $1,800,000, with their new home coming in well under half the price. Peter and Lara were delighted, with the extra cash being used to buy new furniture, a brand new car and to fund their retirement income!

New Property Specialists arranged for lawyers to arrange both transactions, and their existing mortgage loan to be transferred to their new home. The couple were also referred to a financial planner who prepared a comprehensive plan detailing how to invest the net proceeds of the sale into their new home in the most tax efficient way, which would aid their concessional benefits.

Peter and Lara have since settled in to the community, forming a group of new friends and making full use of the golf course only a short walk from their new home.