Downsizing Benefit Calculator
See how much you could release by downsizing
Your Details
Downsizer super contributions available from age 55
Current Property
$
$
$
Agent fees, marketing, legal (~2.5-3% of sale price)
New Property
Cash Released
$295,000
Available after downsizing transaction
Financial Summary
Current Equity$1,600,000
Net Sale Proceeds$1,555,000
Total Purchase Costs-$1,260,000
Equity in New Home$1,200,000
Total Wealth Position$1,495,000
Downsizer Super Contribution Eligible!
At age 62, you could contribute up to $295,000 to super (or $295,000 as a couple).
This doesn't count towards contribution caps. Consult your financial adviser.
Mortgage Freedom Benefit
By paying off your $200,000 mortgage, you'll save approximately $1,083/month in interest payments.
This calculator provides estimates only. Actual costs and returns may vary. Consult with Michael for an accurate appraisal of your current home.
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