Steve Vickers and his wife are not yet empty nesters – but with their kids almost ready to move out, the family has decided to downsize early and get ahead of the game.
The family have lived in Fig Tree Pocket for eight years, even moving back to the area after two years spent living interstate.
Today the family are leaving the suburb, selling their acreage property at 287B Kenmore Rd.
Steve Vickers and his partner Louise with their two dogs. While many empty nesters do not downsize at all, these two decided to do so before their kids moved out. Picture: Nigel Hallett
Mr Vickers said while he loved the home, he felt it was important to look after his family’s future first and foremost.
“It’s a fabulous place to live, because it’s just so quiet,” he said. “[But] it’s a big house, and we’ve got two teenage kids. One’s at university now, and one’s got another year left of school.”
“We knew that at some point, [they’re] going to probably want to leave home … we just realised that we don’t need such a large house anymore, and it’s time for somebody else to enjoy it.”
The pair are selling their home at 287B Kenmore Rd, Fig Tree Pocket. With their kids leaving high school, Mr Vickers and his partner decided they didn’t need a house of this size.
Only 19 per cent of empty nesters have downsized after their kids moved out, according to new research.
Data found by Australian Seniors has shown the majority of empty nesters have held onto their family home instead of downsizing, as more people migrate into Brisbane.
While 68 per cent of this demographic are keeping their home, only 19 per cent have moved into a smaller property, with 13 per cent saying they would consider a downsize.
Baby Boomers were the largest demographic of downsizers, though an equal amount of Boomers and Generation X homeowners have kept their homes.
Mr Vickers said it made sense financially to move during a hot property season, and get a head start on settling into their perfect retirement home. Picture: Nigel Hallett
But Mr Vickers said it made sense for his family to downsize now, both as a practical measure and because of the popular market.
“We just made the decision to do it sooner rather than later,” he said. “It makes sense for us to make the move now rather than wait another 10 years, to be honest.”
Place New Farm agent Ann-Karyn Fraser said downsizers in Fig Tree Pocket were taking advantage of Victoria and NSW residents moving north to seek homes with larger land packages.
“It’s such an attraction for our interstate buyers,” she said. “that’s been a really good motivation for them to make that decision earlier than what they would have [planned].”
Other downsizers are taking advantage of the thousands of new residents migrating up north to Queensland, selling while demand is strong.
But she added the decision to leave was a difficult one for those who loved their home. “You get very attached to an area,” she said. “With age, it just makes it a lot more difficult. So it is a great idea when they’re getting ahead of the game and making those decisions early.”
Mr Vickers said he and his family had definitely grown attached to the area, and it influenced their decision to buy a new house somewhere nearby.
“Leaving our friends that are close by has certainly played on our mind,” he said, “but that’s why we’re not moving too far.”
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