So the children have moved out, and you’re sick of cleaning up your huge 1980’s five-room flat / three-storey bungalow / humongous condo. Or perhaps it’s time to cash out and retire early or retire well. Whatever the case, you’re thinking right-sizing: and what better time to do it than in Covid-19, because having cash turns crisis to opportunity. This is also, however, the point at which you realise right-sizing is easier in concept. The devil, as they say, is in the details – from accidentally trading up your maintenance costs, to a CPF refund that wipes you out. So before you go ahead with this, here’s a Stacked Homes checklist on the key steps to take first:

• Set quantifiable targets
• Review available grants and short-lease options (for HDB)
• Check HDB’s requirements before assuming you can right-size into a flat
• Address financing issues involving age
• Plan long-term for maintenance costs
• Work out differences in required amenities

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