Releasing equity from your home is a significant decision, and one that is worth thinking through carefully with the people closest to you. Taking the time to ask the right questions early can help you feel confident that any arrangement fits your needs, both now and in the years ahead.
1. What do I actually need the money for? Being clear on your goal — whether it is clearing debt, supplementing your income, funding home improvements, covering healthcare costs, or helping family — makes it easier to work out how much equity you need to access and when.
2. How does this affect my home ownership? With Homesafe Wealth Release you retain ownership of your home and the right to live there. It is important to understand exactly what you are agreeing to and how it differs from a loan or a reverse mortgage.
3. What will it mean for my estate? Accessing equity today changes how much of the future sale proceeds will be available later. Understanding the capped share approach helps you and your beneficiaries know what to expect.
4. Could it affect my Age Pension or other entitlements? Releasing equity can have implications for means-tested benefits. It is worth checking your individual circumstances before proceeding.
5. Have I spoken to the right people? Independent legal advice is a required part of the Homesafe process, and many people also choose to speak with their family and a financial adviser before making a decision.
Asking these questions does not commit you to anything. It simply helps ensure that any decision you make is the right one for your situation.
This article is provided for general information only and does not constitute financial, legal, or taxation advice. Terms, conditions and eligibility criteria apply.