If you’ve mentally moved on from life on the property, chances are you’ve got a vision for where you want to be. But before you hang up the gumboots completely, here’s a few options you could consider.
Do you own a Lifestyle block? If you’re thinking about selling in the near (or distant!) future, our eBook “Life Beyond the Lifestyle Block” is your must read guide.
Downsizing – a different type of freedom
The lifestyle block was ideal when you wanted space and freedom to roam the land and breathe in the fresh country air. But perhaps now the kids are getting close to moving out of home (or already have!) and you’re faced with empty bedrooms and fewer hands to help out around the property.
Downsizing to a house or apartment closer to town will offer you a different sense of freedom:
- There’s no doubt it will drastically reduce your commute to work
- You’ll save the valuable time and money that comes with the maintenance of a large property
- Maybe now with that extra time you can take the much-needed holiday you’ve been dreaming about!
Build your dream home
Many lifestyle blocks in NZ come with an original home that may not have been your ideal home when you first took possession of the property. Despite best intentions, perhaps the renovations you planned at the outset were never realised?
Well now’s your chance. Depending on your specific circumstances and your desired location, the sale of the average NZ lifestyle property should provide you with enough equity to consider building a new home.
Shift to another lifestyle block
Just because you are ready to leave your current lifestyle property, doesn’t mean you are ready to say goodbye to the countryside for good. While your current property may not fit your wants and needs anymore, if the thought of moving to town is just a bit too depressing to stomach, then there is always the option of transitioning to another lifestyle property that ticks more boxes.
Stay put and subdivide your property
You love your current countryside location, but aren’t so keen on the amount of work that goes into it. What if there was a way to have your cake and eat it too? Subdividing your property will allow you to stay put, downsize and make a return on your land all at the same time.
The subdivision process can be rather lengthy and involved; it’s also controlled and restricted by a number of Acts — namely the Resource Management Act 1991.
To help you navigate the many subtleties of selling lifestyle property, download our must-read guide: “Life Beyond the Lifestyle Block — A guide to selling your lifestyle property and what comes next.”