More retiring Canadians are choosing condos over houses. Karen Phung, who’s versed in real estate laws, writes about this trend and notes that Canada’s aging population will probably influence its prevalence. While the author discusses the matter from the point of view of condominium corporations, her Mondaq article also touches upon the benefits of condo living for seniors.
“It is common for seniors to downsize their homes after they retire. The kids have moved out, there is more time to travel, and there is no longer a need (or a desire) to own and maintain a house.
Living in a condominium building is appealing to seniors because they come with fewer responsibilities and greater convenience. Seniors can rely on others for maintenance, repair and security services. Access to amenities is faster and more convenient. Limiting one’s living space to a single floor and accessing an elevator makes it easier for those with sight, strength or balance problems to reduce their risk of injury. Condominium corporations can therefore expect a growing number of seniors purchasing units with a view to enjoying these benefits.”
Phung further cites laws and individual condominium corporation policies that make condo living an easier and safer option for the elderly. For instance, some condo associations allow seniors to customise their respective units to accommodate certain limitations, particularly those who need access ramps. The leniency when it comes to these requested modifications enable the elderly to avoid experiencing “undue hardship” during their golden years.
Ultimately, a positive condo living experience all boils down to choosing the right place for retirees to settle. Some condos are more suitable for younger residents in terms of amenities and policies, so elderly buyers would do well to choose properties that are ideal for their intended lifestyles. At any rate, seniors who wish to downsize to condo living can approach a licensed Calgary realtor® like Christine Ordze for help in finding units that suit their needs and preferences.
Calgary offers various viable choices, especially for those who prefer to live in an urban setting. Living in Calgary condos downtown enables one to be closer to recreational spots, commercial centres, and other amenities or facilities. At the heart of the inner city area, one can easily access public transportation to travel to nearby neighbourhoods or visit friends and family in the suburbs.
(Source: Canada: Senior Living In Condominiums: 7 Things That Condo Corporations Need To Know Right Now, Mondaq, July 22, 2014)