After the family home: Great Spaces for Aging Gracefully

You may be familiar with the term “aging in place”, which refers to the appealing idea of staying in one’s own home as one gets older, as opposed to entering a retirement home. While our futures don’t always unfold the way we'd planned, I do encourage my downsizing clients to consider homes that are the most likely to gracefully accommodate them in their elder years.

For instance, a flight of stairs may not present a problem to an able-bodied couple in their sixties. A decade later, they may be wishing they’d chosen differently. High-rise and low-rise condominiums with elevator service are by far the most popular housing choice among my clients who move to the city after retirement. Freedom from upkeep is a huge selling feature, while safety and recreational amenities also play key roles.

But there are certainly other options out there. Many of my baby boomer clients love to garden, play outside with grandchildren and entertain friends outdoors. They’re simply not prepared to sacrifice a private lot. Some communities offer condo ownership of semi- or fully detached bungalows, taking the burden of yard maintenance and snow removal from your shoulders. 

Alternately, freehold owners may hire yard help when it’s needed.

In addition to their lack of stairs and bright main floor laundry rooms, today’s bungalows can easily be built with features that make them more accessible to people with mobility issues. Most builders are happy to widen doors and hallways, substitute lever door handles and add sleek-looking handrails in bathtubs and showers.

You’ll also want to weigh the benefits of living in an adult lifestyle community versus a more diverse neighbourhood. Some baby boomers thrive in a community of peers who share similar interests, finding their social lives completely reinvigorated. Others prefer to be surrounded by families of all ages, in neighbourhoods where Halloween brings dozens of miniature princesses and superheroes to the door.

For a small percentage of downsizers, an in-law suite is the answer. When grown children have a larger home, and are able to provide parents with the type of surroundings – and relationships – they desire, both parties can benefit financially and emotionally.

Whatever path you choose, take it from me: once you have a plan for the future, it’s easier to live in the moment.

To receive a FREE copy of a new special report titled "Homebuyers: How to Save Thousands of Dollars When You Buy" email sales@bennettpros.com

Visit www.bennettpros.com for all your real estate needs.

The Downsizers Dilemma

by Zoe Van Wyck, Bennett Pros Sales Representative - Do you ever wonder what it would be like to live a simpler life? Although it may require some lifestyle tweaking  to get there, do you realize how attainable it really is? This seems to be the mindset of the majority of Canadians as the flock of baby boomers have been contemplating the low maintenance lifestyle of condo living. With this ongoing trend and new condo’s popping up all over the city, the appeal and possibility is there. However, for a lot of these downsizers, even with this seemingly simple solution at hand, something is blocking the path to making the final decision to move forward and ‘make the change’.
 

 Certainly ‘making the change’ will require some effort to adjust; especially after dealing with the same routine for years and years. The idea of a lifestyle adjustment may present itself as an overwhelming feat requiring a great deal of energy and effort. It may be this notion of change alone that seems to instill in them the most fear. But fear has always been the greatest enemy in our decision making ability, as it does a fantastic job of holding us back.

One of the main factors instilling this sense of fear is the conflict between the desire for zero maintenance versus the sacrifice of ‘space and things’. “Where will I put my 12 Rubbermaid containers of yarn?” one asks, “Where am I going to put those magazines I’ve been accumulating since 1965?”, says another. Well, the response to these concerns is nowhere. And that this is the whole point. The intention of downsizing is just that: downsizing. 
 

Evidently there are adjustments to be made. It is a huge lifestyle change, without a doubt. But when a lifestyle change offers so many benefits, and the ability to alleviate so many of your burdens, why put it off any longer? Why not enjoy that ‘lock and leave lifestyle’ everyone is talking about right now! Don’t spend one more winter shoveling your 4 car driveway, tending to your lawn that never seems to stay green, or paying to air condition all ten rooms in your home…when you use only three of them.
   

While the majority of baby boomers are still in their “contemplation stage” there are many that have benefited from this lifestyle leap already – the downsizing dilemma is on its way out. It’s only a matter of time until this demographic fully accepts and adjusts to this trend and begins to wholeheartedly embrace the change. With Ottawa having the largest baby boomer population per capita, you can be assured that once the acceptance of condo living for downsizers truly hits, and all that fear subsides, there will be a shift in the market. All of those large, family homes will be scattering the market and the competition will be fierce. You don’t want to be caught trying to sell your house in a buyers’ market, especially if you’re nearing retirement. Don’t you want to get top dollar for your home?!
 

Don’t get left behind! Get started now and contact the Bennett Property Shop today! Be a front runner and you will benefit far greater than those who sit back and let their fear affect their future.

You can thank me later.

Visit bennettpros.com for all your real estate needs.

Downsizing and the Empty-Nest

After your children have moved out, either to start their adult lives or to attend college, your once-busy-and-full home can seem strangely quiet and empty. Many older adults who find themselves in this situation decide to downsize and move into a smaller Ottawa home. Downsizing can be financially beneficial, but it can also be a long and involved process if you aren't careful.

The Two Sides of Downsizing

Downsizing involves selling your current Ottawa home and purchasing (or renting) a new and smaller one. If you plan it correctly, you can save a considerable amount of money when you sell your Ottawa home and purchase a new one. But, keep in mind that home prices have risen since you first purchased decades ago. You might be surprised at the asking price for even a small home in your area.

You might have some emotional attachments to your current home that might get in the way of you effectively selling it. Typically, there's the urge to price your home high, since the home has so many memories for you. But, remember that your emotions are not the same as the emotions of the buyer.  So, you need an objective person to help you sort out these emotion-laden thought and ideas.  This is where a real estate agent can help you determine the price for your home based on a comparative study of the prices of similar homes in your area.

Weigh the cost of purchasing a new home carefully. Depending on how old you are and your financial goals, you might want to purchase your empty-nest home outright, instead of getting another mortgage. Paying cash for your new home means you may actually pay less in the long run as well as you will incur no interest charges. Obtaining a mortgage can also be financially beneficial if you utilize this money to buy other investment properties or other holdings.

Another way to downsize and save money is to move in with your grown children.

Making Room

When you move to a smaller Ottawa home, you can't take all the possessions in your current space with you. Although this fact is undeniably true and a physical reality, some downsizers are depressed by this fact.  Others, however, are elated.  Regardless, downsizing means trimming the items you own, not just reducing the size of your house. Your children can help you purge items from your current home. 

To encourage them to clear out their childhood bedrooms, hold a family clean out day. Each grown child can focus on cleaning out his or her old room, deciding what to do with their old belongings themselves. If your kids aren't interested in cleaning out their stuff themselves, you can take it upon yourself to discard it or to donate useful items to any of a number of worthwhile local charities.  Some may actually give you a tax deductible receipt for these donations.

Some of your possessions may in fact be of interest to a museum or library and again a tax deduction receipt may be obtainable for those donations.

Deciding what to do with the rest of your possessions can be difficult. To make the process easier, you might want to start with the bigger pieces. For example, if your new home doesn't have a separate, formal dining room, you can probably safely donate your old dining set. If the new home only has a small living room, you can easily decide to donate your large sectional.

Things can become more complicated as the items become smaller. You might have a accumulated a large collection of knickknacks over the years. The best way to sort through these items is to do it quickly. Only handle an item one time before making a decision about it. If you keep returning to an item because you aren't sure if you want to keep it, it will take you a long time to purge your home.

Other means of purging yourself of your extraneous possessions is to hold a garage sale or a neighbourhood give-away day, or to advertise your items in a local newspaper or on Kijjiji (or another on-line site) or you can hire the services of an antique dealer or an estate auctioneer. Finally, some items may be usable by a local church charity or by building material re-cyclers or an organization such as Habitats for Humanity.

Visit www.bennettpros.com for all your real estate needs

The Downsizers Dilemma

by Zoe Van Wyck, Sales Representative with the Bennett Property Shop Realty

               Do you ever wonder what it would be like to live a simpler life? Although it may require some lifestyle tweaking  to get there, do you realize how attainable it really is? This seems to be the mindset of the majority of Canadians as the flock of baby boomers have been contemplating the low maintenance lifestyle of condo living. With this ongoing trend and new condo’s popping up all over the city, the appeal and possibility is there. However, for a lot of these downsizers, even with this seemingly simple solution at hand, something is blocking the path to making the final decision to move forward and ‘make the change’.
               Certainly ‘making the change’ will require some effort to adjust; especially after dealing with the same routine for years and years. The idea of a lifestyle adjustment may present itself as an overwhelming feat requiring a great deal of energy and effort. It may be this notion of change alone that seems to instill in them the most fear. But fear has always been the greatest enemy in our decision making ability, as it does a fantastic job of holding us back.
               One of the main factors instilling this sense of fear is the conflict between the desire for zero maintenance versus the sacrifice of ‘space and things’. “Where will I put my 12 Rubbermaid containers of yarn?” one asks, “Where am I going to put those magazines I’ve been accumulating since 1965?”, says another. Well, the response to these concerns is nowhere. And that this is the whole point. The intention of downsizing is just that: downsizing. 
               Evidently there are adjustments to be made. It is a huge lifestyle change, without a doubt. But when a lifestyle change offers so many benefits, and the ability to alleviate so many of your burdens, why put it off any longer? Why not enjoy that ‘lock and leave lifestyle’ everyone is talking about right now! Don’t spend one more winter shoveling your 4 car driveway, tending to your lawn that never seems to stay green, or paying to air condition all ten rooms in your home…when you use only three of them.
               While the majority of baby boomers are still in their “contemplation stage” there are many that have benefitted from this lifestyle leap already – the downsizing dilemma is on its way out. It’s only a matter of time until this demographic fully accepts and adjusts to this trend and begins to wholeheartedly embrace the change. With Ottawa having the largest baby boomer population per capita, you can be assured that once the acceptance of condo living for downsizers truly hits, and all that fear subsides, there will be a shift in the market. All of those large, family homes will be scattering the market and the competition will be fierce. You don’t want to be caught trying to sell your house in a buyers’ market, especially if you’re nearing retirement. Don’t you want to get top dollar for your home?!
                Don’t get left behind! Get started now and contact the Bennett Property Shop today! Be a front runner and you will benefit far greater than those who sit back and let their fear affect their future.
                 You can thank me later.


Visit www.bennettpros.com for all your real estate needs.

The Challenges of Downsizing

Shifting from a big house to a small one, contrary to popular belief, is really not that big a deal. There can be multiple reasons for making such a move. Possibly, you have grown old and your kids have moved out or you are unable to keep up with the mortgage payments or it may just be too difficult to manage the huge space on your own. Whatever the reason may be, a major problem is finding the right house for your needs. If you are looking through real estate properties in Ottawa, you will be surprised with all the options that are available.

Once you have found the perfect new home, another challenge involved with downsizing is managing all your old stuff. Your currently large house is not only filled with pieces of furniture, it also has a few decoration items that are strewn around the room. You might want to box up and keep all the pieces for sentimental or other reasons. They could be family heirlooms, pieces you inherited or things that were given to you by a loved one.

Not to mention all the stuff stored in the attic. Though those things initially may seem worthless to keep, that emotional attachment you have to your old diaries is hard to let go. It is entirely up to you to decide what things you want to keep in the new place and what things you want to throw or give away. You must remember that you cannot take everything with you and you should be ready to let go of all the things that may hold sentimental value but are not required in your new place.

To avoid the different issues and nerve-wrecking symptoms of downsizing, make sure that you follow the following tips:

•             Time your move. If you are shifting to a house that is half the size of your current one, there are a lot of things that you will have to toss out or keep in a storage container. You have to give yourself time to think through and decide on the stuff that you will keep and the stuff that you won’t.

•             Get help. Ask your friends and family to help you with the move. Have one of them organize an online sale while others can take care of boxing away items.

•             Be realistic. There are so many things that we can easily live without but we have made them necessities. Measure the rooms of the new place and see which furniture can be placed in them. You might have to sell some of the pieces.

•             There is no need to keep a pile of papers. Except for property and tax papers, most of them would not be needed after a certain time. So throw away those college assignments that you have stowed away in the attic.

•             A storage unit should be your last resort. Try to avoid renting a storage unit. Most of the people who have rented one do not even use it and the things usually rot inside.

Even though there are many challenges involved with downsizing, you can make it a fun process. Contact the Bennett Property Shop Realty today to find the best real estate property in Ottawa for your downsizing needs.

 

Visit www.bennettpros.com for all your real estate needs.