As more and more of the baby boomers head towards retirement age they are having to face the question as to whether they should be downsizing to Toronto condos or not. Let's face it - managing a large home can be both financially and physically draining for an individual or couple that is heading into their golden years. It is at this time when downsizing needs to be taken into consideration.
It can be quite a difficult transition to move out of a family-based home that you've been living in for many years. It's usually never an easy move but most seniors that have downsized into Toronto condos don't regret the decision later. It makes sense logically – it’s just emotionally that most people have a problem making a final decision to move.
Your memories are still there
One thing that you need to keep in mind is that your memories are there in your mind and not in your home. Holding onto a house because of the memories it has is not always the best decision to make. You will still carry the memories of the home onto your next residence and will be able to make the new home your own and establish new memories in it. While it may be a loss at the beginning, physically and financially it's the right thing to do and you can work through it and get to the other side.
Call in the troops
Ask your family for help - not just with the move but with the emotional strain that it will have on you as well. Let them know how hard it's going to be and that you would appreciate some assistance with the emotional impact it's going to have on you. Most family members will be more than understanding and give you some extra time during this difficult transition. You may even find yourself getting invited out for extra lunches and dinners that you can enjoy with your family.
It's not always a downgrade
Even though you may be downsizing on space you still may be upgrading on features. Many condos nowadays have luxurious benefits to them that you didn't have access to in your own home. The amenities available can be quite attractive in many Toronto condos!
If you haven't started looking at Toronto condos yet it's a good time to start. You'll find a wide variety across the city of Toronto and working with a real estate agent will give you the chance to find out what's available so that you can make an informed decision about heading forward into a new residence.