Plan To Unlock Equity

Selling a Sydney apartment could boost super and fund a move to a cheaper area.

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NAME: Michele Mossop

STATUS: Home owner who is planning for the future.

QUESTIONS: Do I sell my apartment in Sydney, unlock some capital, move out of Sydney and bolster my super? Or do I stay where I am and take out a reverse mortgage?

ANSWERS: Don’t sell up without renting and testing out the new location. Subscribe to the local newspaper for 18 months, talk to a long list of people in the area, including real estate agents, police, medical services and the chamber of commerce. A larger equity in your home will result in a higher age pension. Maximise your super contributions.