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Downsizing usually refers to moving to a smaller home, but not necessarily. This article will briefly examine this trend, and identify some of the issues involved.
The steps to a successful downsizing scenario include discussion, creating a plan, evaluating the home to determine what work needs to be done to get the home ready for sale, and recommending and cooperating with other trusted service providers.
Some people thinking of Downsizing may prefer to live in a house; they’ve thrown out the idea of a condominium and they want to reside in a smaller quieter city with full amenities within a reasonable driving distance to Toronto. So many options exist and it’s important that you consider them carefully before making the leap.
Will a smaller space fit your needs and are you ready to leave the house you’ve lived in all these years? It’s important to make a list to document your thoughts. Being able to read and review your list will provide some clarity for you; if not right away it will certainly give you lots of discussion points to ponder.
Downsizing takes many forms. Being part of the baby boomer generation ourselves, we hear all sorts of terms: Downsizing of course is one of them but also Right-Sizing, and Smart-Sizing, but in the end it’s all about Transitioning to something else. That’s a term I like: Transition.
Take for example, baby boomers in the 55 to 65-ish range: kids may be gone; they are newly retired, or about to be, looking for a new chapter in their lives. Right-sizing comes to mind. They want to live on one floor – perhaps a condo or a bungalow either within or outside the GTA. A two bedroom/two-bathroom home on one floor gives maximum flexibility to age in place as there is space for a live-in caregiver in the future should the need arise.
Some people are more adventurous and are willing to move to new and exciting areas, some back to their hometowns they may have left many years before, others to be closer to grandchildren. If you love the outdoors, you may want to be close to a lake, golf courses, or hiking trails.
Builders are responding to these needs as Buyers are looking for more features in their homes. For example, in smaller centres within an hour or two of Toronto, townhouse style bungalow communities geared to Baby Boomers have sprung up as they combine the benefits of individual home ownership with the complex being managed as a condo, including yard maintenance and snow removal. For active boomers who like to travel, this is perfect – lock it and leave it!
Some mature seniors may wish to age in place. They’re reluctant to move and will hold on at any cost to their current homes. Unfortunately, due to compelling reasons such as loss of spouse or health issues they may need to move. This is where the family involvement comes in – to discuss alternatives and in working with other service providers determining what type of housing and location will be suitable.
We have access to trusted and vetted professionals, including:
- Lawyers,
- Mortgage specialists,
- Financial planners,
- Insurance specialists,
- Home inspectors,
- Stagers,
- Contractors and handypersons,
- Professional organizers,
- Movers/packers
Each and every one play a part in a successful downsizing move
Next Steps
With the right support and knowledge, you can put your downsizing plan into action.
As always I invite you to call for a free personal consultation. See you here next time. Let’s talk Downsizing!
Client testimonials:
We worked with Luci and Marc to buy our new condo sell our Toronto home. The kids had left and we had been retired for a couple of years. We knew we wanted to simplify and move into a space that would be maintenance free. We always loved the idea of moving into a condo and just spending some real quality time travelling and golfing. We ended up buying a condo in the east end of Toronto with amazing views of the Lake – it’s so amazing we can hardly wait to move in! We actually found Luci online, believe it or not. We called Luci and set an appointment for a consultation. Luci and Marc are a husband-and-wife team and were very professional. We had lots of questions they were able to answer all of them. It was a very good experience. We bought the condo first because we wanted to ensure we had a great place to move to. When it came time to sell the house, Luci brought in the service people we needed to get the house ready for sale. The home was staged, and professional photos were taken. We really liked Luci’s quick and thorough communication. She was always available to take our calls. That was really important to us. We sold in 6 days for top dollar and couldn’t be happier with the entire experience. We would not hesitate to refer Luci and Marc to anyone we know. Thank you Luci and Marc!
Steve and Marilyn C.
I used Luci Rizzo to sell my house in Toronto while I was in BC. Excellent service, she helped with every detail including hiring painters, cleaning services and electrical work. I would highly recommend her.
Olive Spence
In the current overheated real-estate market, Lucy is a trustworthy, transparent, honest and proactive partner of any buyer or seller. Thanks to her ongoing commitment and sound advice, I was able to make a great buy and investment. I recommended Lucy to numerous people and I will always do so because it is really hard to find such a great agent who works hard to help her clients succeed by being there for them during the whole process and beyond. I am really glad that our paths crossed because, in the end, her hard work and dedication had an amazing an positive impact on my quality of life.
Charles Jean Sucsan
I would highly recommend Luci Rizzo for any of your real estate requirements. Luci helped us sell our home and downsize to a condo, which we love! With years of experience in the real estate market Luci is trustworthy, personable, is client focused, she listened to what we wanted, and provided great suggestions and communication throughout the process. Always prepared, Luci offered honest feedback and up-to-date research which enabled us to make the right decisions along the way regarding both selling and buying . We couldn't be happier and would not hesitate to use Luci again when we go to sell our condo.
Lesa Warner
Great overall service and experience! As first-time home buyers in Toronto, my partner and I were very nervous and had innumerable questions. Luci guided us, with patience and expertise, every step of the way. I would definitely recommend Luci and her team to friends and family for any real estate needs!
Mauricio Morales
My husband and I worked with Luci Rizzo and Marc de Bellefeuille recently in looking for our new home. We found them to be consistently professional, helpful and very knowledgeable about both the real estate market in Toronto and also about house construction and design. We started house hunting with little understanding of prices and a stubborn and outdated mindset about real estate values. Luci and Marc took us to upwards of thirty properties and always gave us relevant and helpful information, helping us learn to analyze and understand pricing and home value. Looking back, it is clear that we needed to fundamentally change our understanding before we could make a decision that was right for us. Luci and Marc were never impatient with our naive assessments and when we found a house we loved, they gave us clear analyses to help us make the most rational decision we could. I am so impressed by their expert knowledge of both the Toronto Real Estate market and house values. We found a wonderful house and I am certain it is all down to the expertise of this great team, Luci Rizzo and Marc de Bellefeuille.
Katherine Beattie
Recently, I decided to sell and downsize my semi detached downtown Toronto home. Luci was there for me advising on the whole downsizing procedures and suggesting from her contacts various ways that could ease and expedite getting my home ready for the market. Once my home went on the market, Luci really shined as she dealt with numerous inquiries and requests for showings during a covid19 lockdown. She is a great communicator and we exchanged a number of emails and phone calls daily to keep me in the loop and to ensure every detail had been looked after. I found Luci to be dedicated to helping her clients receive the best possible outcome, detailed and an excellent negotiator.
Linda Sebastian
Luci and Marc made my experience as a first time home buyer as easy as I think it could have been. They were really flexible around my schedule and helped me find the perfect place fast. Any questions I had, they had the answer or knew where to find it. I am hoping not to move for a long time but if I did I would use Luci and Marc again in a heartbeat
Michael Legere
Luci was very patient when helping us purchase our current home. As soon as the purchase was confirmed, Luci came over prepared to discuss details of selling our townhouse. She gave us an estimate of market value of our home and went through her market strategy with us. Our property was listed on MLS the next day. And to our surprise, it was sold in a week at the price we wanted. We couldn’t be happier.
Alistair Chan
I’d recommend Luci for managing a Toronto real estate sale. She’s conscientious and careful. She knew the market and gave us good advice. She managed all the showings, and managed the selling process very well. We benefited from Luci’s professionalism and experience.