Living the Dream: How Reverse Mortgages Can Make It Possible

By Darren Moffatt

April 25, 2023


one elderly man and two elderly women enjoying art session in their retirement

Retirement is a much-anticipated milestone in life, where you can finally retire from your working life and pursue your long-held dreams. 

It’s a time to relax, travel, and enjoy the hobbies and activities that may have taken a backseat to work and other responsibilities. 

Retirement provides an opportunity to spend time with family and friends, pursue lifelong passions, and experience new adventures. 

Whether it’s travelling the world, learning a new skill, or simply enjoying a slower pace of life, retirement is a time to make the most of life’s possibilities.

However, not everyone’s retirement dreams come true. In Australia, the cost of living is rising faster than the rate of inflation, and many retirees are struggling to make ends meet. 

For many Australians, the perfect retirement remains a dream with many living their senior years under financial worries. 

According to a new research conducted by the Australian National University for Social Ventures Australia and the Brotherhood of St Laurence, 28% of households headed by working-age pensioners were severely financially stressed, up from 19%. 

An Alternative Financial Solution for ‘Cash-Poor, Assets-Rich’ Seniors 

For those who are finding it difficult to live their dream retirement due to financial constraints, a reverse mortgage could be the solution they’re looking for.

A reverse mortgage is a type of loan that can help elderly homeowners achieve a dream retirement. It allows homeowners to borrow against the equity in their home, providing them with additional income to help cover their expenses in retirement.

For many elderly Australians, their home is their largest asset, but it’s also a source of stress when they’re on a fixed income. 

A reverse mortgage can help alleviate that stress by providing them with a steady source of income, without requiring them to make monthly payments. 

Instead, the loan is repaid when the homeowner passes away, sells the home, or moves out.

A Reverse Mortgage Can Help Australian Seniors Live a More Comfortable Retirement 

With the additional income from a reverse mortgage, you can live a more comfortable lifestyle in your golden years. 

You can use the funds to pay for medical expenses, home repairs, travel, or any other expenses they may have. 

This extra income can also allow you to stay in your home longer, instead of having to downsize or move to a retirement community.

A reverse mortgage can also help you achieve your dream retirement because you’ll have the financial means to pursue your hobbies and interests. 

You can use the funds to take art classes, travel to new places, or even start a small business. This can give you a renewed sense of purpose and fulfilment, as well as a better quality of life.

Consult Seniors First Reverse Mortgage Broker Sydney 

It’s important to note that a reverse mortgage is not for everyone and should be carefully considered. 

Weigh the pros and cons and talk to a financial advisor or housing counsellor before making a decision. 

For example, taking out a reverse mortgage can limit the options for selling or refinancing the home. If a borrower decides to sell the home, the loan plus interest must be repaid first, which can limit the potential profit from the sale. 

Refinancing may also be difficult, as the loan plus interest must be repaid first before a new mortgage can be taken out.

But for those who are eligible and in need of additional income, a reverse mortgage can be a valuable tool to help achieve a dream retirement.

Call us on 1300 745 745 or CLICK HERE to check your eligibility.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial advisor before you make any decision.


  • A Reverse Mortgage can certainly help with your style of living but suggest you check out every Reverse Mortgage offer including the Federal Government one. Interest rates vary between plans and this can make a big difference at the end of the day or even before. Don't be talked into taking a large sum of money upfront unless you absolutely need to. Best to take a monthly amount to bolster your pension.

    • Hi John,

      Thank you for taking the time to share your thoughts on reverse mortgages. We agree that it’s important for seniors to carefully consider all of their options when it comes to accessing the equity in their homes. We strive to provide tailored and compassionate service to seniors, helping them to find the best solution for their unique financial needs and goals. Our expert brokers are here to help seniors navigate this complex process and to provide guidance and support every step of the way.

      Thank you for your input, and for leaving a comment.

      Kind Regards,
      Seniors First

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