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WHEN SMALLER IS BETTER

Media Release - 1 January 2012

Strata is the fast growing form of housing in NSW, increasing more as a New Year is heralded in and scores of Australians decide to downsize and reduce their housing expense as part of a lifestyle change.

According to SMS Strata Management Group CEO, Colin Dennis, “Despite the very large multi-storey complexes we see in Sydney’s skyline; the reality is that three-quarters of all Strata Folios in NSW comprise less than 10 units. So you only ever really have less than a dozen neighbours.

“There are good reasons to downsize before health or money problems force you into it.

“At SMS, we’ve meet with thousands of retiree clients who’ve shared with us why downsizing to a strata complex is attractive,” said Colin Dennis.

  1. Goodbye Mortgage. Selling a larger home and buying a smaller property may allow you to pay cash. This could set you up for a mortgage-free retirement.
  2. More money to invest. The sale of a larger home may free up equity and cash flow that you can invest to generate more retirement income.
  3. No outside maintenance. If you downsize to an apartment or townhouse, the outside of your home is largely taken care of.
  4. Lower monthly expenses. Generally a smaller home means lower rates, reduced insurance premiums and smaller power, gas and water bills.
  5. Less furniture. Downsizing lets you sell or give away a lot of what you own. Then you can concentrate your dollars on fewer, but nicer, pieces of furniture for your new place.
  6. Reduced cost-of-living. Downsizing can mean relocating to a more affordable part of the country, like regional areas of our beautiful far North NSW Coast. In some cases a move may even afford you a more luxurious apartment than you imagined.

SMS Strata Management Group now manages more than 1000 buildings and representing 10,000 owners between the Byron Bay/Ballina and Coffs Harbour offices, making this a significant business growth story on the NSW Far North Coast with 18 staff between two offices.
                                  

Media Enquiries:   

Karen Lewis
Strata Manager
02 6659 9600