Findings from a Study conducted by the productive aging centre demonstrates that a large proportion of senior Australians have a preference to remain living in larger dwellings with three or more bedrooms. The major motivating factors for downsizing were physical difficulties or affordability problems in maintaining their current home. The main factors that discouraged downsizing were that it would take too much effort, financial barriers (such as stamp duty, other moving costs and sale proceeds being included in the Age Pension assets test).
With it being government policy to have people remain in their homes as long as possible and a preference by senior to remain in the family home, the SURE property option is an excellent option to enable seniors to remain in their homes, preserve their wealth and have additional income to meet their true financial needs without jeopardising pension payments.
