Downsizing Your Home

Downsizing Your Home

When you are ready to start looking for that little bungalow closer to the kids or a condo where you don’t have to do the maintenance — call us.

The Chris Pennycook Team will fast track your search. You will get the listings that match your ‘must-haves’ every day, as soon as they come onto the market — and sometimes sooner.

If you are still deciding, here are a few things to consider.

What should I consider as I plan my retirement? For older Canadians who are still active, retirement opens up a whole new world of life and living opportunities. One of those opportunities is finding the perfect retirement home. However, before any move, a little needs-assessment and planning can make all the difference in the world.

Do I want to stay in the same neighbourhood? It’s been your home for years. Can you leave behind friends and acquaintances and say goodbye to your friendly shopkeepers, and familiar surroundings?

Where would I really like to live? Do you want the diversity and cultural opportunities of a major metropolitan city? Is it time for that home in the country? Can you bear the Canadian winter?

How much can I afford? You have many years to look forward to, but your income is going to be relatively fixed. A good financial plan can help you decide what you can afford, not just now, but in ten or twenty years from now as well.

What sort of lifestyle do I want? Retirement living offers all sorts of possibilities; from owning your own home to joining a retirement community. Which one fits your lifestyle? Is it a small bungalow so you can have your own garden or a condominium where all the maintenance is done for you? Each has its benefits and each has its drawbacks.

Where will I be in ten years time? Ideally, the perfect retirement home is one that will accommodate your needs as they change over the next few years and reduce the chance of having to make another move when you may be less prepared.

Once you have determined that you are ready to take the plunge, there is an abundance of options available to you.

Condominiums

Short on maintenance and long on amenities, condominiums are a favourite choice of empty nesters and retirees.

Condominium apartments and townhomes are available in virtually every price range and neighbourhood. Many offer recreational facilities such as swimming pools, tennis courts, and fitness areas.

Remember that when you own a condominium you are governed by the by-laws, rules, and regulations established by the condominium board. Make sure you know how these will affect you (especially if you have a pet) before you buy.

Bungalows

Bungalows give empty nesters and retirees the best of both worlds – your own house and yard with minimal maintenance and, best of all for many retirees, no stairs.

Bungalow-living has surged in popularity in recent years, especially in smaller communities outside of the city where homes are less expensive.