Should I Downsize My Home in Retirement?
Whether you’re planning for retirement or already enjoying its freedoms, you may be wondering whether to downsize your living situation. Many people choose to move to a different type of property as their lifestyle changes, and retirement is a very common period of transition.
Downsizing to a different property is a big decision!
There are loads of reasons to downsize, and every person’s situation is unique. Some of the most common reasons we see are:
To reduce maintenance work.
Keeping up with the daily and seasonal maintenance of a large family home may no longer make sense for your situation or needs. Many of our downsizer clients choose condominiums for this reason – let someone else worry about lawn mowing and snow clearing!
To reduce living expenses.
Once the kids have flown the nest, it may not make sense to pay for the upkeep of a large family home. The costs of utilities, taxes, and maintenance can all be reduced by moving to a property that better aligns with the size of your family.
To access resources.
Some people choose to move so they can access the resources they need more easily. That may mean moving closer to public transit, doctor’s offices, their grown children, or community centers.
For a change of lifestyle.
Now that a long commute to work is no longer an obstacle, why not fulfill your dream of living in suburban or rural Ottawa? Or maybe a downtown condo close to all the activities you enjoy is more your style. The transition into retirement can have a huge impact on your lifestyle, and a change of residence can be a part of that process.
Our team has worked with countless downsizers in order to sell their current properties and find the perfect home for their next phase of life. We’d be thrilled to help you do the same. You can contact us to learn more.
For our tips about how to downsize, check out our post: Are You Ready to Downsize?
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