As a real estate broker, I can help you make the right decision about your real estate choices in retirement. I am here to guide you according to your budget, your needs, your abilities and your projects.
Here are some questions to ask yourself to start thinking:
Should I opt for smaller accommodation?
If your home has outgrown your home now that your children have left the nest, it might be a good idea to sell it and choose a space that better suits your needs. Several options are available to you: Condos, tiny homes, apartments and multigenerational homes are just a few. The choice will depend on your preferences, your goals and your budget.
Is my income enough to cover the costs of my house?
Retirement typically brings a decrease in income, which can make it difficult to manage the expenses of a single-family home. Even if you’ve paid off your mortgage, other lingering costs can put a strain on your budget.
Am I able to take care of the maintenance?
If maintaining your property is becoming a chore, it may be time to consider a change. But be aware that the Régie de l’assurance santé du Québec offers a Financial Exemption Program for domestic help services, which can facilitate the maintenance of your home. Sometimes it is better to keep your property and seek help rather than selling it immediately.
Will I get a good return on investment by selling my house?
If you have maintained your property well, it is likely that it has increased in value over the years. Selling your home could provide you with an attractive capital gain, especially if you have fully repaid your mortgage.
What lifestyle do you want to have in retirement?
Retirement offers a new freedom. If you plan to travel frequently or spend several months a year in the warmer weather, you may prefer a smaller, more affordable living space.
Moving when you retire is a big decision. If you are in good health and able to take care of the maintenance of your property, this may not be an immediate concern. However, if unforeseen events arise, it may be necessary to reconsider your situation.
As a real estate broker I can help you plan the sale or purchase of a property at this crucial stage of your life.
