Rightsizing doesn’t always mean smaller. It means finding the home that’s right for this stage of life. For some people that’s a bungalow with no stairs. For others it’s a condo they can lock up for the winter, or a place closer to the grandkids.
We’ve helped a lot of people in Peterborough and the Kawarthas through this move, including folks leaving homes they’d lived in for 37 and 43 years. Here are the options we see most often, and what to know about each.
Stay and adapt
A main-floor bedroom, grab bars or a stair lift can buy years in a home you love. Sometimes the right move is no move at all, and that’s worth considering first.
A bungalow
Everything on one level, a smaller yard, and usually a garage. Bungalows are in high demand around here, so it pays to be ready to move when the right one comes up.
A condo
No snow to shovel and no grass to cut. You’ll pay monthly fees, so it’s important to understand what they cover and how healthy the building’s reserve fund is. Your lawyer will review the condo’s status certificate before you firm up.
Life lease
You buy the right to live in a unit, often in a community run by a non-profit or faith group. The rules differ from regular ownership, so have your lawyer go through the agreement carefully.
Retirement residence
You rent, with meals, activities and care available. In Ontario, retirement homes are licensed by the Retirement Homes Regulatory Authority, and you can look up any home on its public register.
Closer to family
Lindsay, Cobourg, Port Hope, Durham or further afield. We can sell your home here and connect you with a trusted agent wherever you’re headed.
Where to start
- Find out what your home is worth. It’s the number everything else depends on.
- Talk it over with family. Early, and without pressure.
- Visit a few options. Seeing a condo or a residence in person makes it real.
- Start sorting the easy rooms. The spare room, the linen closet, the garage. Save the photo albums for later.
There’s no rush. It goes best when you take your time, ask lots of questions, and have people around you who aren’t in a hurry.
Planning your next chapter? Our free Rightsizing Planner includes a room-by-room sorting checklist, a planning worksheet, a timeline to moving day, and questions to ask about condos and retirement residences. You can also request a free, no-obligation home value review.
