The main concern that most people have when planning for retirement is whether or not they will be able to accumulate enough financial resources to live comfortably. Of course, this concern is directly linked to the next most crucial issue for retirement, how likely a chance you have to live a fulfilling life that includes everything you’ve been waiting to enjoy.
Generating the Wealth that You Need for Retirement
Even if you’ve accumulated ample financial resources for your future, the economic outlook can be challenging to predict. In some cases, the best move you can make is to consider what assets you own that are worth liquidating and how practical it would be to downsize.
The Economic Advantage of Real Estate Inflation
Your family home is one asset you likely own already that has recently significantly increased in value. If you’ve been considering downsizing your home in view of retirement but were uncertain of the best time to sell, the recent boom in home values will end your worries.
The important thing is to find a quality home in a prime area. Remember that you are trading homes so you may get a little more or less for your home depending on the market but you can also get better deals on a new home when the market is slower.
Choosing a New Layout
It might be hard to think of the rooms your children grew up in as anything but their room, but do you really need a house full of extra rooms that aren’t being used? If you’re considering remodelling the empty nest, you’ll stand to gain more by moving to a new home instead. When you factor in the size of the common rooms in your home, you end up with a lot of unneeded square footage that could be converted to capital or better used.
In a custom townhome, you could opt to include a guest room that is better purposed for your children to use when they visit you. You could also add rooms designed for an activity you’ll enjoy regularly, such as an exercise room or personal office.
Choose a Better Location
Your lifestyle in your retirement isn’t going to be the same as it was when you started your family and career. For one, you now have much more freedom to use your time however you like. Luckily, you can work with experienced home builders in Niagara to find an active adult lifestyle community explicitly designed to provide everything you need for an engaging and social retirement.
Less Space to Maintain
One of the aspects of home ownership that becomes more of a burden as you age is the necessity for continual maintenance. Consider how much time you can save by moving into a location where landscaping and snow removal can be provided.
Taking care of these more minor details now will ensure you are covered in the eventuality that you can no longer do them in the future. While this might not seem like much of an issue today, you want to do everything you can to maintain your independence for as long as possible if mobility becomes an issue later on. A custom home can include everything you need to make this situation a reality.
Custom townhome allows you to plan a home that perfectly suits your needs without the price tag of a large new home with more space and better color on the walls than you need. Contact a builder in lower Ontario to get started.
