Condos As A Retirement Option.
Entering into the glorious years of retirement can be a thrilling and exciting time. Done with the years of working a job and into the years of enjoying your days doing whatever it is that makes you happiest. From traveling the world to enjoying neighbourhood walks, partaking in various hobbies and sports and of course spending time with family and friends. We all know that homeownership, although amazing, can pose many unwanted tasks during this time with all the routine upkeep and maintenance. I want to offer an alternative idea that I hope you will consider. Condo Living, let's dive in!
Gone are the days of working so why spend your time working on the numerous maintenance tasks accompanied with home ownership. With no more mowing the lawn, weeding the gardens or worrying about snow removal during our cold winters, your time is available to do the things you want to do! Lock your door and enjoy a week in the tropics knowing that the snow will be gone when you get back or head up to the cottage for a few weeks and come home to freshly cut grass and beautiful summer blooms.
Accessibility to local services is typically higher when living in a condo. Condos tend to be located in the city, in a somewhat central location, thus providing a handful of amenities such as local stores, restaurants and other entertainment options that are typically conveniently nearby. Yes retirement frees up more time but that is no reason to waste it on longer commutes.
The daily socializations with past co-workers will be just that a thing of the past. A condo environment promotes connection and socialization with other residents in the building. Connect with residents who share mutual hobbies and interests with the added ease and convenience to enjoy them together, by being neighbours! And for when you go away on that vacation, count on them to water the plants and watch over your condo while you are gone!
Now is that soft spot to get into the market while rates continue to drop and before prices go up - yes they will go up! It’s a wash really, selling for less means buying for less and buying for more means selling for more. Does now make sense for you to make your move into downsizing? Talk to your lender or mortgage agent about what kind of penalties you may have and what kind of financial benefits you might gain from downsizing into a condo building. Your future self will thank you for not holding off!
