Downsizing could be part of the solution to the housing crisis. So why aren't more people doing it?

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Older people downsizing to smaller homes is one way housing stock can be used more efficiently but despite government moves to make it more attractive financially, barriers still exist.

Older people downsizing to smaller homes is one way housing stock can be used more efficientlyOne couple have put their plans on hold despite recent federal government moves to make it more financially attractive

"We started thinking about how we are going to approach the next 20 years, effectively the last 20 years, the final quarter before game over," said Mr Kempken. The couple were hoping to sell their family home of 30 years to pay down debt and put money into their retirement. While developers spruiked off the plan apartments, further investigations by the couple revealed they wouldn't be suitable.

 

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