DOWNSIZING by definition is commonly accepted as to trade down/move to a smaller home. Done usually by older people.
The question of whether to downsize or stay in your own home has reasons for and against.
Downsizing can mean better position, lower maintenance and ability to lock up and leave to go travelling.
People do it to put money in the bank and have less running expenses than a larger property. That in turn means less work and better lifestyle.
Downsizing can lead to more modern surrounds/better company but also consolidation and simplification of life - in regards to belongings as well as activity.
Yet it can also mean leaving the locality you know and friends as well as family.
With it comes a degree of work in de-cluttering your life and the sheer task of moving. That in itself can be daunting.
The timing can be brought on by a significant life event and then there is the ability to physically live comfortably in a smaller space.
The costs involved in selling/shifting may not achieve the desired outcome and there can be on-going expenses such as body corporate fees.
Remaining in your own home can avoid financial traps in regard to the pension or superannuation. It means you can continue to be surrounded by friends and family, and opens up the chance to include family into the home in a transition of generations.
For Noosaville residents Steve and Pat Roberts the answer is simple: Downsize by all means but look for a new home in the same street or around the corner.
Having lived in Edward St, Noosaville, for five years they have grown to love everything about the house, the position with river views, and the area itself.
They love the people, the shops and restaurants, the ability to get around so easily, whether walking or driving further afield.
How did you come across such a location ... and with river view? A lot of people don't know it's here.
We were not thinking the river precinct could offer a large house.
And it's so close to the river. You would expect a site such as this would be home to a high-end apartment complex.
Why did you choose Noosaville/Edward St? We spent two years looking for a townhouse in this area.
This house had been on the market for two and a half years and we kept ignoring. We didn't want a house.
Each time the townhouses we found sold a day or two before us.
We wanted to downsize but live in Noosa, and we wanted to travel.
We didn't even attend the auction, but we did bid over the phone ... not expecting to get it.
Why have you decided to sell? Until now, for us to go away we had to get house sitters. But we like being independent.
What are looking at next? We are looking to build in the same area, or buy an existing property if that suits.
We want to do overseas travel yet also a lot more caravanning.
Took the decision to sell and look for something else in the area.
What appeals so much about the area? The access to river, restaurants and anywhere else in the district.
We can walk everywhere. We still haven't been to all the restaurants.
What do you like about the house? It's north-facing with balcony, pool and river view. Open living areas on first floor to take advantage of the aspect.
It features stone bench tops with waterfall ends, a full range of Miele appliances including coffee maker.
There is beautiful tallowwood flooring on both levels.
We love the size. It's great when you have family visiting. There are big areas downstairs for separation and the entertaining areas are seamless.
There are four bedrooms, office, media room/family, three bathrooms plus powder room.
The pool is set up for heating if needed and there is ducted air-conditioning.
It's not a lock-up-and-leave duplex. You are getting freehold title in Noosaville with a double lock-up garage and so much storage throughout.
Downsizing, how has it affected you? Pat was coming here from when she was a baby. So the move from Brisbane was relatively easy.
We always stayed in Noosaville.
We didn't look to downsize as such, but have adapted to the new lifestyle.
In some ways it was daunting. Any shift is, but it was something we had planned for so long it didn't worry us.
We made that step and now we are consolidating our decision by staying in the area.
We are getting excited about that next stage.
We would like to stay in the immediate area ... the same street if we could.
Comment by marketing agent Joanne Marek: There is a mini frenzy going on in the property market in Noosaville and Noosa Waters, one in which we are still playing catch-up. Whether you sell today or in six months there will still be some catch up.
All this movement into the area, it's not slowing down. People are not expecting to move here for two to five years but can see what is happening and they are land banking now.
We only know of one other similarly positioned house in the area that has sold in recent years, and that went for just under $3m. This was before the rush to buy that has hit us this year.
4 Edward St
4 Bed, 3 Bath, 2 Car, Pool
Features: Contemporary designer home with unobstructed river outlook to the north. High ceilings, tallowwood floors, swimming pool
Price: Offers over $3,000,000
Agent: Joanne Marek at Marek Realty
Contact: 0421 158 700
Inspection: By appointment