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7 Georgetown/Acton/Erin/Rockwood, Tuesday, August 9, 2011 REAL ESTATE CORNER By Lynn and John Drewry BOOMERS AND SENIORS CHOOSING YOUR NEXT ADVENTURE/DOWNSIZING In our previous article you had developed a financial plan so you know how much you can spend and you have acquired the services of a Realtor® in whom you trust. Now you need to explore the housing options open to you. If you are a senior in the pre boomers generation you have probably lived in the same house for a long time so this is a new experience for you. If you are Boomer you have probably moved several times and facing your next decision to downsize is not so daunting. Assuming you are in good health, your choices are likely one of the following: bungalow or smaller 2-storey, townhouse or condo/apartment. You would be wise to consider a newer or completely renovated home to minimize costs for utilities and maintenance. And if you have pets you want to make sure they are permitted. Bungalows or smaller 2-storey ­ modern bungalows are great because they are more energy efficient than those of 30 plus years and everything's on one floor. Smaller 2-storey usually offers smaller lot and square footage to maintain. These offer space for those who want gardens and grass. Townhouses ­ there are many townhouses which are newer and most provide a small yard and minimize maintenance. You can replace any grass with shrubs, periwinkle and beach rock and flowers are kept in planters. There is a wide range of choice from upscale complexes like Village Terraces, Barber Glen or Daniels Town Manors to larger complexes such as Niagara Trail in Georgetown south. Different locations offer downtown, close to shopping or suburban living. There are number of new units being offered and new developments are planned. Condo apartments ­ there are only three larger condo buildings in Georgetown; the Sands, Royal Ascot and Victoria Gardens. For example, the Sands offer a good selection of activities: indoor pool, tennis court, gazebo, picnic area and forest view, spa, woodworking shop, library, games room and party room. It is a very social place and meticulously maintained. There are other choices ­ too many to be explored in one article. Perhaps they will help you get started in your thinking and help you with your education. Your Realtor® (who must be experienced in the issues facing you) can help you develop your criteria and narrow down your options. This is the third of a series of articles on Boomers and Seniors and Downsizing. We encourage you to send us your questions and ideas for future articles to lynn@lynnandjohn.ca or 905 873-0440. Lynn is a qualified Accredited Seniors Agent. John is a Real Estate Broker and Chartered Accountant (FCA). Lynn and John work and live in Georgetown. They are sales representatives with Re/Max Realty Specialists Inc., Brokerage. Movers' & Shaker's Marketplace TOP a $$$ Storage T I P Unit Almost every home shows better with less furniture & clutter. MORTGAGES Are you paying too much for your mortgage? Do you have a variable rate mortgage that you signed over the last few years? Prime rates have fallen or remained steady over the last two years and most lenders prime rates are still at 3%. A lot of variable mortgage taken out a few years ago were at prime plus .75% meaning the rate would be 3.5% to 3.75% - A lot of today's variable mortgages are priced at Prime minus .75%.. meaning your rate could go from 3.75% to 2.25%.. That's a difference of 1.5% which could easily save you thousands over the next few years, even with the penalty to discharge. With interest rates expected to remain low over the next while, it is a good time to have a look at your own mortgage to switch or refinance (along with your other debt) into one easy payment - let's show you how to pay your debts off sooner, while keeping your monthly cash flow the same! To get your mortgage questions answered, email them to pmotem@ mortgagealliance.com Rent HOME INSPECTIONS BRENT COOPER, RHI, CEA oahi.com MEMBER REGISTERED HOME INSPECTOR CERTIFIED ENERGY ADISOR Since 1999 PRE-PURCHASE INSPECTIONS PRE-SALE INSPECTIONS WARRANTY INSPECTIONS ENERGY EFFICIENCY EVALUATIONS COMPREHENSIVE ON-SITE REPORTS (905) 877-7633 cooper@hbwi.ca MOVING & STAGING Book your move or storage through us and get your Home Staging Free. It's that simple! Call today 905-702-7420 Realtors Welcome We make your space a better place! Movers' & Shaker's Marketplace Book in Now to Reach 45,600+ readers every week for as low as $39 ONLY until August 31st. Please contact Amy Sykes 905.873.0301 ext 237 or e-mail asykes@theIFP.ca