Downsizing with a Fresh Start: Why We Did It (And What You Should Know Before You Do Too)

Three weeks ago, my wife Michelle and I sold our family home.

Not because we had to. Not because we were retiring tomorrow. But because, after years of working with clients on downsizing strategies, it was time we took our own advice.

We found a beautiful apartment, 50 metres from the ocean, 150 from the lake. It’s a bit smaller. It’s a bit simpler. And it suits us perfectly.

This wasn’t just a property decision. It was a lifestyle choice, and one that came with some big lessons I want to share.

1. Downsizing Isn’t About Losing Space. It’s About Gaining Time

The first thing people say when they hear we sold the family home is:
“Was it hard to let go?”

Yes, and no.

Yes, it was full of memories. The kids grew up there. We had birthdays, Sunday barbecues, late-night Netflix marathons. But the thing is that we’ll still have memories. Just new ones, in a place that suits where we are now.

What we’ve gained is time.
Time we’re not spending maintaining a big garden.
Time we’re not using to clean spare rooms that don’t get used anymore.
Time to walk to the beach, to go away without worrying about who’s checking the gutters.

That’s the part nobody tells you that downsizing gives you your time back.

2. It Took Years of Conversations, and One Right Opportunity

This wasn’t an overnight decision. We’d talked about it for years. Imagined it. Looked at places half-heartedly.

Then the right apartment came up, and suddenly it wasn’t theoretical anymore.

If you’re thinking about downsizing, don’t rush but do start the conversation early. Even if you’re not ready to act right away, just talking through what kind of life you want in 5–10 years can help bring clarity.

3. The Finances Still Matter (Even When It’s Emotional)

Emotionally, downsizing is about lifestyle. But practically, it’s a big financial move.

If you’re selling a family home, ask yourself:

• Do you know what it’s worth and what selling costs will come out of that?

• Are you eligible for the downsizer super contribution (up to $300,000)?

• Will it affect your Age Pension or Centrelink status?

• What are the buying costs such as stamp duty, strata, legal?

For us, this was about freedom. But we still ran the numbers. And that made all the difference to how confident we felt about pulling the trigger.

4. You Can Redefine What “Home” Means

One of the biggest mental hurdles I see in clients is the belief that selling the family home means giving something up.

But what if it’s just changing?

What if your new place is near the water, or closer to the grandkids, or easier to lock up and leave when you want to travel? What if it suits your energy now, not who you were 10 years ago?

We still have space for visitors. We still have dinners on the balcony. The only thing we left behind was the things we didn’t really need anymore.

Final Word

Downsizing isn’t a downgrade. It’s a chance to make room for what matters next.

For us, that meant sunlight, ocean walks, and simplicity. For you, it might mean more travel. Less maintenance. Better cash flow. Or just a home that finally fits the life you’re living now, not the one you had before.

If you’re thinking about it, don’t wait until it becomes a must-do. Let’s have the conversation now, before stress and urgency set in.

At Financial Wellness Hub, we help clients figure out what downsizing really means for them financially, emotionally, and practically.

Book a complimentary 20-minute session if you’d like to run your ideas past someone who’s been there.

No jargon. No pressure. Just someone who gets it.