Pamela Vasiliu
Sales Representative
pvasiliu@remax.net

RE/MAX Professionals Inc.
Brokerage
Independently owned and operated.

Date: Wednesday October the 18th, 2017 
416-236-1241

 

   

Deciding to Downsize is Actually an Opportunity

February 19, 2016 - Updated: February 19, 2016

A big house isn't always the best. Maintaining a large home is costly, particularly when heating, cooling and overall maintainance is concerned. If you don’t use your large space, it can become an extra cost — and why pay for space you don’t use? You can use the extra costs associated with a lager home towards an investment, a home that suits your lifestyle.

 

As we age, our needs change and so should our homes. Your home should work with you and for you — not the other way around. If your children are grown an moved on, having a multi-level, 4 bedroom, 3 bathroom house with a dining room, living room, family room and a finished basement might not make that much sense for you to have anymore.

The good news is you have options, and downsizing doesn’t necessarily have to mean downgrading. It’s about maximizing your home and space so that it works for you and your future.

 

You could sell and downsize to a smaller house, such as a bungalow, and then focus on making it work for you.

You can work create a lovely open-concept space with a few renovations. Having a smaller upadated space with out stairs is a great option for ageing homeowners. This maximize space and increases accessibility — but not at the cost of style.

There ae many ideas which are ideal for your outdoor space. Think about adding an outdoor deck, one that requires minimal maitenace and that you will never have to replace.

You can also invest heated flooring exactly where you need it so don’t waste energy, as well as strategic LED lighting throughout your home, which increases safety and energy efficiency.

Some empty nesters decide to sell their house and move in to a condo instead, so they don’t have to worry about mowing the lawn, shovelling the driveway or keeping up with the regular maintenance that a house normally requires. Or they sell their home and use that money to rent the ideal space that already has everything they need — and comes with a landlord to do the repairs.

Whatever you decide to do, it must make sense for you and your future.

For example, will you need to have access to transit? Do you want a little yard to work on during your retirement years or are you thinking of travelling more and spending less time at home? Keep in mind thatthe best solution for you will not necessarily be the best solution for your friends, your family or your neighbours.

No matter what you decide, always weigh your options. Do your homework so you won’t have to worry about it in the future.


Tagged with: downsizing retirement junction triangle real estate news buying selling high park roncesvalles bloordale village 2016
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