As your mortgage broker Toronto specialists, we want you to have all the information to make an informed decision. Seniors have a variety of different choices for housing that suits a wide range of budgets. If you have mobility or financial issues , consider some of the following questions to find a downsize that suits you.
- Consider your monthly finances after retirement. Well before you can look at some of the specifics like the best mortgage rates, this is something you’ll need to work out. It’s important to keep in mind that a vast majority of people will be on a fixed income after they stop work.
- Ask yourself what your housing ‘must haves’ are. Everyone generally has two lists when they’re looking at buying a home for moving. The wish list is the one that you will need to really work on when you’re a senior. You’ll be able to get away with not having a two-car garage, but a main floor laundry room might be on that all-important necessary list.
- As your mortgage broker Toronto, we also suggest that you look at some things outside the home itself. For example, having access to public transportation is important in your golden years. Even if you’re still driving presently it’s a good idea to have a general idea about where the bus stops are for future reference.
- Consider the amount of maintenance your new home will need. Seniors quite often decide to move into a condo or townhouse space that has maintenance fees. You might even want to look into a co-op housing situation that caters to people in your age group.
Finally, seniors need to take into account their mobility needs. If your ability to get around on your own is compromised, you’ll want to find a place to live that takes that into account. Remember we are always here to answer your questions as your mortgage broker Toronto.
