Not your parent’s retirement
In previous decades, the concept of downsizing was often perceived negatively, and in many cases as the beginning of life’s decline. Changes in lifestyle and attitudes are turning the idea on its head and now savvy and mature homeowners recognize the value of trading-in their high-maintenance homes in favour of the carefree lifestyle offered by condominium living.
Historically there has existed skepticism surrounding condo rules, boards and exorbitant fees. Anecdotally everyone seems to have a story from a friend, or a friend of a friend who has had a negative condo experience. Fortunately, these stories of mismanagement are becoming increasingly rare since the passing of the Condominium Management Service Act 2015.
Increased regulation has changed both how condo boards are run, and properties are managed significantly reducing the incident of unforeseen expenses for condo owners.
Changes in attitudes, regulations and the amazing variety of supply make condominium living a more appealing option for downsizing than ever before. But when is the right time? A lot of variables can affect your decision. Often downsizing makes sense financially, but it can be an emotional process fraught with challenges.
Your home is much more than an investment, and larger homes are often complete with lots of stuff. Often downsizing seems daunting, with the big question of what to purge? Selecting a bungalow style condominium with ample storage such as a full basement can help with the transition. Huntsville’s upcoming community High Crest has full basements with all their bungalow townhomes.
For those considering a major shift from a large family home to a traditional condo in a building. Try flipping the typical narrative. Don’t think about what to get rid of, but rather what you want to keep. Recently a friend showed how successful this approach can be.
After deciding to move to a two-bedroom condo from a large four-bedroom family home, he identified his favourite furniture and artwork and marked it with small pieces of painter’s tape with his initials. He picked just his favourites, and just enough to furnish the condo. In the next weeks, his children / siblings / friends and neighbours were invited through to visit, and the remaining bits and pieces were 95 per cent gone within a month. The final week he called a scrap metal guy, and his local charity shop who picked of the rest of the items of value. A quick trip to the dump after moving day for those bits and pieces that always seem to linger, and the move was done.
He was thrilled that those he loved were able to keep memories they chose, and useful items were continuing to be useful. Afflicted with a mild hoarding problem over the years, “getting rid” of stuff was always a challenge. But as a generous soul, giving to others has always been easy.
Life offers us many transitions, and downsizing can be both practical and freeing. Today’s transitional living communities such as High Crest have more variety, and options than ever before.
Edgewood Homes commenced operations in 1999 with a simple formula: acquire premium Muskoka locations, retain the most creative architects and designers, utilize exceptional tradespeople, and pay particular attention to even the smallest detail. Today, under the watchful eye of company principal David Goodfellow, Edgewood has established a pre-eminent position at the leading edge of residential design and construction.
Erika Scott is the sales and marketing manager for Edgewood Homes Muskoka. Email firstname.lastname@example.org or phone 705-224-4663.
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