The real estate market as it is today, with high interest rates and rising utility costs, has prompted homeowners to rethink when they want to downsize. For a senior, the increased cost of living can mean speeding up their desire to live somewhere with less space and more affordable amenities.

With thousands of older adults in Canada looking to eventually downsize, here is why now’s a great opportunity to do it.

1. Find A Home More In Line With Your Current Lifestyle

You may have bought a family-sized home to raise kids in and that suited your lifestyle at one time. If that was years ago, chances are you’re living a very different life today and are paying for square footage you either don’t need or outright don’t use.

Move somewhere smaller and more in line with your current interests, hobbies, and lifestyle.

2. It’s A Chance To Declutter And Downsize Your Stuff

Less stuff means less to clean, less to store, and less space taken up by things you may not ever use.

Downsizing is a chance to take stock of what’s in your ownership and decide what actually makes you happy. Eliminate any possessions that carry with them a mental or physical burden.

In need of more downsizing advice? Consider these other posts from our blog.

3. Freedom From The Risks Of Homeownership

When you downsize and move into a rental, or sell your home to move into a more accommodating home, you’re becoming more free. You don’t have to concern yourself with maintenance or chores, ranging from repairing the roof to electrical or plumbing issues you may be dealing with.

You leave those behind with your home and move somewhere that’s a lot more accommodating to you.

4. It’s A Fresh Start That You Get To Control

There is no rush to downsize. If you’re a senior who hasn’t had a fresh start in a while or wants to shake things up, downsizing is the perfect chance.

It’s a way to meet new people, put yourself in a new neighbourhood, and have a new experience. When you downsize, it’s also a chance to move closer to friends or family and to spend more time with the people you love.

5. There Are Lots Of Buyers Looking For Properties Like Yours

Demand is strong. Lots of buyers exist in Ontario, across Canada, and even internationally with an interest in buying Toronto homes for sale or buying a South Etobicoke property. This means cashing out your equity – regardless of the condition of your home and what repairs, if any, need to be done – should not be the struggle it would typically be during an economic downturn or downtime in real estate. If you put your Etobicoke home up for sale with the team at Adrian + Andrea, you won’t have to wait long for offers.

 Want to sell your current home for the highest dollar possible? Check out these blogs for value-boosting seller’s tips.

6. Plan For Your Future With How You Want To Live Your Life

Most seniors have plans to downsize. There’s no reason to wait. Make the choice today to downsize while you can. Then, start planning for the future. Think about how you want to spend your time, how close you want your family, and what amenities you want around you. When downsizing, you can plan so much about the lifestyle you want to lead.

7. No Reason To Worry About A Mortgage Renewal

Unless you’ve totally paid off your home, at some point you have a mortgage renewal coming up. With higher interest rates, this could mean a significant increase in what you pay monthly to keep your home. Downsize, cash out your equity and avoid the prospect of being tied into a monthly payment you can’t afford.

Reach out to Adrian + Andrea today to search Etobicoke homes for sale for downsizing. There are dozens of properties available today in Etobicoke perfect for seniors and families looking to downsize, pay less, and live life on their terms. Reach out to us today! Call us at (416) 319-6893 or email info@adrianandrea.com.