Selling a Sydney apartment could boost super and fund a move to a cheaper area.
NAME: Michele Mossop
STATUS: Home owner who is planning for the future.
QUESTIONS: Do I sell my apartment in Sydney, unlock some capital, move out of Sydney and bolster my super? Or do I stay where I am and take out a reverse mortgage?
ANSWERS: Don’t sell up without renting and testing out the new location. Subscribe to the local newspaper for 18 months, talk to a long list of people in the area, including real estate agents, police, medical services and the chamber of commerce. A larger equity in your home will result in a higher age pension. Maximise your super contributions.
This story is from the May 2017 edition of Money Magazine Australia.
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This story is from the May 2017 edition of Money Magazine Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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