Is the Family Home Costing More Than It Gives Back? Options for Over-55s in Geelong

A feature published in the Geelong Times by Times News Group explores why a growing number of homeowners over 55 are reconsidering how much of their wealth is tied up in the family home. The article looks at the ongoing costs of maintaining a larger property and how new homes from $630,000 at ReGen Living Waurn Ponds offer an alternative.

Why Over-55s Are Rethinking the Family Home

The article notes that while the family home has long been one of Australia's great investments, many over-55s now find themselves with more house than they need. Once children have moved out, the costs of a larger home often remain, from bills and garden upkeep to maintaining unused rooms and, for some, a mortgage that has lasted longer than expected.

These pressures can be especially pronounced for people living alone, where a single income often covers many of the household expenses previously shared by two. Depending on individual circumstances and the value of their existing property, selling a larger home and buying at a lower price point may allow homeowners to release equity.

Releasing Equity Without Compromising on Lifestyle

ReGen Living Waurn Ponds general manager Ashley Duster said affordability is becoming an important part of the conversation for people weighing up their housing options later in life. He noted that many homeowners have built significant equity over decades, yet much of that wealth sits in rooms they rarely use. How released funds are used is a personal decision, whether that means reducing or clearing a mortgage, building savings, supporting family or travelling more.

Mr Duster said moving to a more appropriately sized home is a different proposition to traditional downsizing, as spending less on housing does not have to mean getting less from it. ReGen Living's homes are designed to be energy efficient, and residents will have access to planned facilities including a private clubhouse, indoor pool and spa, gym, cinema and wine room. Display homes are open Monday to Saturday, 10am to 4pm, at 45 Danaher Avenue, Waurn Ponds.

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