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$229,900. Immac., spac. ‘Gxeenpa‘k home, _ $159,900. Spacious home w/extra large kit. $349,900. Heated inground pool, Glen Abbey, backing onto greenbelt. On quiet _ Upgraded carpeting. F/P. W/O from fam. professionally landscaped and interlocked. court. Open kit. concept w/fam. rm. w/oto . rm. Immaculate lots of upgrades. beautiful fin. deck. Decorated in neutral tones. DOUG WENDY PEARSON* DOUG WENDY PEARSON* DOUG WENDY PEARSON* Home Match#9300012 Home Match#9300018 Home Match#9201494 FOR ALL YOUR RENTAL, SELLING OR BUYING NEEDS Condo Townhouse Condo Apartment Freehold Townhouse TYPE Detached Bungalow Detached 1.5 Storey Detached 2 Storey LINK JUST LISTED!! LOOKING FOR RENTAL HOMES IN OAKVILLE? ~ HERE IS WHAT‘S CURRENTLY AVAILABLE ... PLEASE CONTACT: DOUG OR WENDY PEARSON ROYAL LEPAGE OAKVILLE TOWN CENTRE 338â€"3737 NGE $700â€"$1,695 $995â€"$1,695 $1,295â€"$4,028 > $1,000â€"$1,600 $800â€"$2,500 $850â€"$2,000 é“’ ‘I! 6! Breathtaking homes on «w V lots Decorated Models on Display! Reverse mortgage worth considering By DON BARNES Special to the Beaver "Bob, it‘s your decision, but as your doctor, I‘m recommending that you quit working now...your heart just can‘t take it." Had Bob and Mary got the news from Bob‘s doctor three years ago, at the peak of the real estate market, the financial impact of not working would not have been as devastating. The market had been very good for their lakefront property; certainly enough to supplement their RRSP savings and government pensions in retirement. But, to sell in this market would put a serious crimp in their retirement plans and would be playing right into a buyer‘s hands. From a lifestyle standpoint, the doctor‘s news came five years too early. At 60, Bob was just not ready to give up their Oakville home and settle out west, and Mary was enjoying her new career in sales. Yet, a constant theme ran through every scenario they considered... where would they come up with the $30,000 a year they counted on from Bob‘s work if Bob couldn‘t work and they didn‘t want to sell? The whole situation was particularly frustrating because, on paper, Bob and Mary were quite well off. Their problem, however, was that they were asset rich and cash poor. Their principal asset â€" their home â€" had been a great investment, but was not very liquid. This may not sound like the typical circumstances for someone who is considering a home income plan or reverse mortgage, but it is more typical than you think. When the reverse mortgage product was introduced to Ontario, everyone thought it would appeal to poor old widows living in rundown old homes with 15 cats, etc. The reality is that it appeals to more "upscale" situations. Why? Because, for the most part, the reverse mortgage has proven to be a lifestyle product. For Bob and Mary, it bought them the five years they were looking for. Based upon the equity in their home, they were able to establish an income stream for five years of $30,000 a year, tax free. Although they were using up part of the equity in their home as a result of the income they were creating, they were able to postpone selling for five years; into what hopefully would be a better real estate market five years down the road. The reality is that their home need only appreciate by 2% a year to break even. This seems high given the most recent past, but over the past 30 years, homes in Oakville have appreciated over 10% a year on average; so 2% is not expecting the world. Don Barnes is a Financial Services Advisor with Retirement Counsel of Canada, a national retirement planning firm with Ontario offices in Oakville, Ottawa, Toronto, Hamilton, Burlington, and Orillia.