More Downsizers Choosing to Build New 

Narelle and Peter Clucas are among a growing number of downsizers choosing to build a new home instead of buying an established property or switching to an apartment, according to AVJennings.

The developer's new Riverton community in Jimboomba is a prime example of the trend, with mature age purchasers shifting from acreage in surrounding suburbs to a more traditional lot with a home designed to accommodate visiting children and grandchildren.

Peter Clucas says the couple decided to make the move to Riverton after living on acreage in nearby Munruben for 24 years. "We did our research and realised it would cost us about the same amount to build a brand new home that suits our needs as it would to buy an existing one that would probably need renovating," he said. 

"While we are trading acreage for a 531sqm block, we have designed a four bedroom home that will allow us to live comfortably, with space for family to visit. New communities like Riverton give people like us the chance to downsize while staying close to the area we have called home for many years, with our adult children living nearby. Because Riverton will have lots of parks and bushland, we don't feel like we are losing access to the open green space we have enjoyed over the years. It just means we will have more time to take in our surroundings rather than maintaining them."

AVJennings National Development Manager, Angus Johnson, says downsizers are becoming increasingly savvy about their options when it comes to real estate. "They are being more discerning when they make the decision to downsize as, for many people, this will be their final purchase and the place they spend the majority of their retirement," he said. "When weighing up the options, it makes sense to build a home that is tailored to the individual's lifestyle and long-term needs, instead of purchasing an existing home which may need modifications, for around the same price. Downsizing doesn't have to mean you change your whole lifestyle - the right location and the right home design can make the transition a lot smoother."

Homesites are available in Riverton sized from 409sqm to 801sqm and priced from $168,900*. Construction is underway in the current release with homesites expected to be ready to build on by March 2020.

Riverton will be developed in stages over the next decade and will ultimately comprise 1200 homesites and will be home to about 3,000 people. More than 35 per cent of the community will be retained as parks, environmental corridors and bushland.