As a Realtor who has helped buyers and sellers in Ottawa for more than 30 years, I always enjoy hearing from clients as their housing needs change, in some cases many years after I first assisted them. In recent years I have been hearing from clients who have reached retirement age and want something smaller and easier to manage.
If you’ve reached that stage, I’m happy to meet and offer ideas.
HERE ARE SOME OPTIONS:
Staying in the Neighbourhood: Many people love their neighbourhood and friends but just want something smaller. I can often help find a lower-maintenance property, such as a bungalow or a condominium apartment. These options will often be lower-priced than your current home, giving you additional cash flow to fund retirement living and travel.
A Downtown Condo and Car-Free Living: Some homeowners who have lived in the outer areas of the city and driven to work for years love moving to a downtown condo (or a condo close to transit), getting rid of a car and being able to walk to shopping, restaurants and arts venues. Many condo owners love never having to clear snow or mow a lawn again, because those things are paid for by condo fees. Being able to walk to amenities or take a short transit ride saves a lot of money in vehicle expenses, and you never have to worry about finding a parking spot again. Amenities at condos range widely, and you can tailor your search around features you would use. These can include swimming pools, gyms, roof terraces, movie rooms, dog-washing stations and guest suites for out-of-town visitors.
A Rental House or Apartment: I’ve assisted some clients who decide that selling their home and then renting a small house or an apartment is an appealing option. With only the monthly rent payments to worry about, making it easy to budget, it’s a great way to free up cash from your house sale to enjoy your retirement.
Rental apartments or houses will often have more floor space than new condo units. And as with a condo, you don’t have to worry about maintenance, as that’s the landlord’s responsibility.
If you’d like to chat more about options for your own retirement, feel free to give me a call! 613.747.4747