Last week, you hopefully gained a clearer understanding of the timing (and impact) Baby Boomers will have on Residential property, until around 2025.
Most people probably feel all this would have little or no impact on Commercial property.
And for some of you, that might be true. But I suspect there are many Boomers, where the effect could be quite devastating.
And here is the reason why
Therefore, if you do delay your decision to downsize too long, you are facing two potential problems:
- The value of your home could actually fall — and thereby cause your bank concern with your LVR.
- When you do decide to sell, you may find (at worst) there is a shortfall between your net proceeds and your line of credit. Or at best … you have considerably less than expected left over, for your future plans.
Please understand that I’m not saying you need to panic and sell your family home next month.
However, you ought be aware of what is about to transpire. And at the very least, think (and talk) about what steps might be appropriate in your situation.
NEXT WEEK: Where to find the emerging Opportunities the Boomers are now creating for you.