(NC) As city property prices continue to skyrocket, many empty nesters are considering taking advantage of the market and retiring to the country. But is selling and moving away the right strategy for retirement?
“Leaving the city for your golden years has many benefits, but it is important to carefully consider your individual situation and lifestyle before putting up a for sale sign,” recommends Mariah Hamilton, regional director at Millborne Real Estate in Kingston, Ontario.
Hamilton has helped dozens of empty nesters relocate from cites and tells clients to consider all their options before selecting a retirement property.
“A rambling, century farmhouse in the country may appear idyllic, but it comes with hidden costs and challenges, including having to drive everywhere. Living in a new property in town is often a better choice for people who have spent much of their lives surrounded by neighbours, who like the option of walking to conveniences and don’t want to be surprised by unexpected expenses.”
Hamilton says new retirees often underestimate the importance of having a range of leisure options available to them.
“When people are working, they dream about having hours of down time. But unless they have a time-intensive hobby, they can get bored very quickly. City retirees are often happiest in communities that offer a range of activities like boating, biking and walking and that have a variety of places to socialize including a library, clubs, restaurants and coffee shops. If there is a theatre or playhouse it is an added bonus.”
Hamilton recommends that people considering moving away from the city look for communities relatively nearby so they can keep up with friends and family. She says Gananoque in eastern Ontario is particularly popular because it is just a couple of hours on the highway to Toronto, Ottawa, Montreal and upper New York state, making a visit to the city quick and easy.
Find more information online at stoneandsouthcondos.ca.