Downsizing involves more than just a change in property size; it’s important to realise there are several financial considerations beyond the purchase price of your new home. As of December 2025, Melbourne sellers need to account for expenses related to preparing their property for sale, the sales process itself, and potential taxes.
Currently in Melbourne, preparing your property for sale typically involves costs like professional photography, ranging from $500 to $1,500, and styling, which can be between $2,000 and $8,000 depending on the extent of services. Painting is also common, costing approximately $400 to $800 per room. Marketing a property in the Eastern Suburbs, where Fletchers has a strong presence, generally requires a budget of $3,000 to $8,000 for a comprehensive campaign including online advertising, print materials, and professional signage. Agent commission, typically between 1.5% and 2.5% of the sale price, is a significant cost. Allow approximately 30-60 days for settlement, and factor in potential Capital Gains Tax (CGT) depending on ownership duration and circumstances – it’s advisable to seek professional tax advice. In 2026, buyers continue to favour well-presented, light-filled homes, so investment in presentation is key.
Carefully considering these costs upfront will help you accurately assess the financial implications of downsizing and ensure a smoother transition.