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James Coyle
James has over 35 years experience in financial services with particular expertise in two of the key components of retirement finance - Superannuation and the Age Pension. He is passionate about providing the guidance and support that can help older Australians enjoy their best possible retirement. He lives in regional Victoria surrounded by dogs and chooks.
As an alternative to renovating and prior to applying for the aged pension is it possible to sell your house (principal residence) and then put most of your assets into buying a new house (principal residence) with a view to then applying for and qualifying for at least a minimum $1 of the couples aged pension entitlement?
Hi Thadius, you can consider this approach also. Centrelink assess you as of the day you apply moving forward so upgrading your house in the lead up to applying is definitely an option. For anyone reading this who is already on the pension and considering selling then building/buying again, Centrelink will give you a 12 month exemption on the proceeds from your sale to give you time to buy/build without losing the pension in between.