November 15, 2010
Boomers Downsizing in Retirement
Did you know that 86% of boomers want a smaller home when they retire, according to a recent TD Canada Trust poll? About half say a smaller home will help them save money, while 1/3 want the small home to have more luxurious features. Over 60% plan to buy a detached home in retirement while 24% want a condo. Those choosing detached want a garden and hate paying condo fees. Those choosing condos want lower maintenance, better security, and amenities such as a gym. About 1/3 of boomers seeking second homes are planning to buy in the US, due to attractive prices in that market.
