Are you approaching retirement and looking for the perfect exit strategy from the fast lane in Toronto?
WatervieW Condominiums being built by LJM Developments may be an option to help you exit with grace and retire in style. Many retirees face this same decision every year; sell the legacy family home or hold on until you are forced to sell. Here is a discussion on some of the reasons why it might be the right time to prepare for your future.
It’s a Hot Market
If you own a detached home in the City of Toronto, it probably is absolutely the right time to exit. There are only two cities in all of Canada that are listed ‘at risk’ of a housing correction and Toronto is one of them. Prices have been pushing double-digit growth for years and many economists and pundits are saying this growth will not be able to be sustained. If that is true and in the next two years the Toronto housing market cools, you may be wishing you had sold.
The reasons are two-fold; not only will you get a top premium price for your home now, you will not be affected in two years by selling your house in a buyer’s market instead of a seller’s market which it is still. If you are not quite ready to retire, you could still sell now and rent a condo in the city; after all WatervieW Condos are not quite move-in ready yet anyways. You might want to move quickly as this slow-down in the Toronto market is expected by the end of 2016.
Plan First, then Move
Many retirees want to stay in their home and feel they have many ‘good’ years remaining in their home. This may be true; however the maintenance costs of a large home as well as the cost to your health and wellbeing may be more of a negative than you anticipate. Giving up your lifetime home is hard, but sometimes it is simply the right choice in order to maintain your quality of life. It’s easier when your 60 then when you are 80.
The rigours of keeping up a large house can get onerous. By preparing two to five years in advance you allow yourself the time necessary to say goodbye to a great home. This also gives you enough time to look for a pre-build condo, such as WatervieW Condominiums on the lakefront in Grimsby, to get a great price on your new home. By planning in advance you can affect the best savings with the least amount of heartache.
Commit to Downsizing
The exciting adventure that awaits retirement couples that embrace the Condo lifestyle is undeniable. Simply close the door and jet off to that great Caribbean last-minute vacation deal you have been eyeing. Yet understand that downsizing to a Condo from a large family home is not without its trials, especially if you are still married to the idea of a big home.
A Condo on the beach in Grimsby can provide an idyllic setting to enjoy the twilight of your life if you are committed to it. WatervieW Condos makes it easier with spacious Condos that are larger than most of a similar number of bedrooms in Toronto and have luxury resort-style amenities to help you truly enjoy your new home such as 24 hour concierge services and an outdoor rooftop terrace complete with outdoor hot tubs and Zen gardens.
Downsizing to a Condo is the right choice for those that want a simpler life, less hassle of maintaining a home, the ability to travel on a whim and still enjoy the luxurious things in life.