Real Estate Can Enable Retirement Decisions
As baby-boomers advance into their retirement years, many will face decisions about their living arrangements, such as whether to retrofit their current home to address mobility issues, or downsize to embrace a less demanding lifestyle.
Whatever the expectations, it’s wise to plan ahead and budget for the future, when issues like health, self-sufficiency and social interaction may take on new or more critical importance. If you’re a long-term homeowner, you’ll have likely built up equity in your real estate investment, which puts you in a more favourable position to free up funds to meet your goals.
So, whether you’re planning extensive renovations or extended vacations, it’s wise to determine your home’s current market value compared to the cost of your long term plans in order to determine your financial leverage. Since real estate is an investment that can be liquidated relatively quickly, you might also consider selling or refinancing to release funds to address not only your future lifestyle needs and preferences, but also personal desires to donate to charities or plan for family inheritances.
Have questions?
If your condo building happens to have a significant influx of new residents, you may have witnessed situations where they’ve lacked knowledge of basic condo rules and procedures. From balcony etiquette and parking access, to recycling practices, inappropriate behaviour can become frustrating for established residents.
It’s the time of year when many homeowners want to improve the appearance of their outdoor decking. If that means you need to replace old, tired-looking boards, or power-wash and sand, paint, stain or urethane the entire surface, you may be feeling discouraged.
