JoAnne Muegge
Sept, 2009 Issue
Which Type of Retirement
Property Is Right for You?
 
 
Buying a retirement property is just as important as buying your first home and you need to be prepared. Before you begin your search, ask yourself the following:
 
 

Should You Downsize?
It's difficult for most of us to think about selling a family home but as the retirement age approaches the question is inevitable. If you choose to stay in your current home it might be possible with government assistance to adapt it to your changing needs. However, should you choose to leave, your savings will likely increase allowing you to really enjoy your retirement years. For those who have made the decision to buy new, some thought needs to be given to which type of retirement property you want and in which location.

Location, Location, Location
Have you thought of escaping the harsh Canadian winters for a warmer climate? Relocating to warm places during retirement is very common. If you and your spouse are thinking of relocating would either of you be able to maintain your property and lifestyle without the other? Things like language, transportation and the absence of family isn't a big issue when you and your spouse are living abroad but they could be if you find yourself alone. Luckily, Canadians don't have to go very far to enjoy a milder climate. A move to the Southern Gulf Islands in British Columbia will allow you to enjoy gardening, golfing, hiking and boating nearly year round. There is also the luxury of being a ferry ride away from a big city like Victoria while also being privy to the tranquility of the islands.


Which Type of Retirement Property Is Best for You?
There are many different types of retirement properties; it's just a matter of choosing which one will suit your needs both now and in the future. Here are a few things to think about when deciding which type of property is best for you:

  • If you or your partner's health decreases will you have to make a lot of adaptations to the home?
  • Will you be able to keep this property if you were to lose your partner?
  • Heating becomes of high importance as we age, is the home properly insulated?
  • Does the property come with maintenance fees, if so how much will they increase?
  • Are you close enough to stores, libraries, parks and the other places you frequent?

Hopefully these questions have made your decision easier but whether you choose to stay or buy new, your 'home will be where you make it.


Sources
http://www.accommodationseek.co.uk/BuyingANewRetirementProperty.html
http://ezinearticles.com/?Choosing-a-Retirement-Property&id=2909357
http://www.squidoo.com/retirementfacts

Did You Know?

According to the AIG SunAmerica Harris Interactive Reconditioning Retirements survey 94% of retirees consider themselves independent.  
Carol Budnyk
Carol Budnyk
Realtor
Cell:   250-588-3378
Toll Free:   800-461-5353
Office:   250-477-5353
Independently Owned And Operated
ROYAL LePAGE Coast Capital Realty
Message From Carol
Welcome! Planning for retirement thirty years in advance isn't always possible; luckily some clever budgeting will help. Read further for ways to begin building the foundation for your retirement. Be sure to watch for future issues as they will be full of information that will benefit you when making some of these essential retirement decisions.
 
All the best,
Carol Budnyk
Notice: To Advertisers


Newsletter Archive
Have you missed
an issue of our newsletter?

Visit our archive to read past issues.
Subscription
Subscribe a Friend
budnykreport@magma.ca
"ADD"

Un-Subscribe to our Newsletter
budnykreport@magma.ca "REMOVE"
Retire in the Southern Gulf Islands
Retirement is synonymous with relocating to a warmer climate, and it just happens to be that Canadians don't have to go very far to enjoy one. A move to British Columbia's friendly Southern Gulf Islands will let you enjoy a milder version of all four seasons. With an eight month frost-free season the Southern Gulf Islands are host to the warmest weather in Canada. The only decision lies in which island you choose to call home. Each island is unique but you will find the common thread to be the many resident artists who are inspired by the beauty and energy of this special part of the world.
 
Salt Spring Island - Often visited by travelers this islands mellow pace draws people from all pursuits. Located on Salt Spring, Ganges, the largest town on the islands offers an array of shops to please all tastes.

Saturna Island - The southern-most and least populated island, Saturna offers seclusion and privacy. If it's a rural lifestyle that you seek consider this island.
Pender Islands - A popular holiday destination, the Penders offer many beaches and coves to explore, along with a thriving community and all the comforts and attractions you need to make your visit enjoyable.

Galiano Island - The Galiano Island, closest to the mainland of British Columbia, boasts the reputation of being very welcoming to visitors. This is also where you will find the Montague Harbour Provincial Marine Park. 

Gabriola Island - A common destination for travelers being easily accessed from Nanaimo, Gabriola Island offers quiet beaches, the Malaspina Galleries, provincial parks, and much more. 
http://www.britishcolumbia.com/regions/ti.asp?regionID=4
Next Month Issue
Thank you for reading The Carol Budnyk Report. Subscribe for future issues and allow me to help you make some of your essential retirement decisions.
- Carol Budnyk