first_imgPeter Lavelle with his dog Hilda May“I had a good idea of what I wanted in a house, and a yard, but needed to find what suited me,” he said. “I wanted no more than 2 bedrooms and a small yard for my little dog and somewhere I could grow herbs and vegetables.“My advice … think of yourself and what is good for you.“I’m going travelling again and my neighbour is going to water my garden when I go. We look after each other. That’s what community living is all about.” Ingenia Lifestyle BethaniaAsset-rich but cash-poor seniors are being urged to consider downsizing in order to free up funds for their retirement.Brisbane property agent Tim Heffernan said median house prices were continuing to rise and seniors could downsize their large homes, boost their cash reserve and improve their lifestyle.“With the current property market showing strong signs in favour of sellers, there is a lot more potential to sell your home for what you want, or more, and it’s a good idea to capitalise on that with such a busy real estate market,” Mr Heffernan said.“There is a big influx of buyers and stock is low, so anyone who is curious about downsizing should investigate their options.“Seniors looking to downsize can also gain a lot more interest in their listed properties with a wave of Sydneysiders and Melbourne-based residents choosing to migrate north into Queensland as they seek new job opportunities and a new lifestyle.”The UDIA Regional Radar November 2017 report shows the median house sale price rose 0.4 per cent to $665,500 in Brisbane and $450,000 in Moreton Bay in the last quarter.The price jump was even higher on the Gold Coast and in Logan, with 1.1 per cent and 1.2 per cent respectively.The median house price in Logan is currently $410,000 – a 13.9 per cent increase in five years, according to recent data from CoreLogic. More from newsParks and wildlife the new lust-haves post coronavirus21 hours agoNoosa’s best beachfront penthouse is about to hit the market21 hours agoBy comparison, both Aveo (Springfield) and Ingenia Lifestyle (Bethania) are spruiking apartments within their Logan over 50s developments from $299,000. Opal by Living Gems has homes from $360,000 at Logan Village.Mr Heffernan, who has spoken about downsizing at various retirement seminars, said it was a sellers market, and retirees could unlock a substantial financial resource. Ingenia Lifestyle Bethania resident Peter Lavelle sold his Brisbane apartment to make the move to the over 50s resort.last_img read more