Right-size moves, even for older adults, come in so many forms.

In none of the situations I’m describing were the right-sizers expecting to “down-size” their home price. They simply want a lifestyle change and a new place to call home. They are making a lateral move financially and frankly, the perfect time to do that is always when you are ready.

Unlike traditional downsizing, rightsizing isn’t reactive – it’s proactive. It’s a plan where you can maximize what you’ve built over the course of your lifetime, and focus not on what you’re giving up, but the life you want to live now and the amazing future you’ve got ahead. In other words, it isn’t about winding up your life – it’s about getting started on the next chapter.

Ray and Freya lived for 36 years in the same suburban home on a 100′ x 100′ lot with a pool in a beautiful private yard. They love entertaining friends and family including their many grandchildren. They were afraid to give up the space, but wanted to have an urban, walkable lifestyle near many of their friends. After an extensive search for the right home, they realized it didn’t exist. They bought a vacant lot on which to construct a smaller custom home for their next chapter. They ultimately invested more into this smaller home – but in the years since that investment has performed better than it would have in any other investment vehicle, and the appreciation is not taxable since its their residence.

Their children and even their grandchildren are now adults. They have lived in their stately urban home for 40 years. They go south for the winters and want to do so without worrying about their property and frankly, all year round they simply want less to take care of. The thing is, they want a really spacious condo. While there are some buildings with these 2,000-ish SF condos, they are rare and they are pricey. It will take leg work to find them just the right space. But I know their budget, their location and the amenities they want will align in our market; so while it may take time, it will happen.

I’m working with Nancy and James to move from their suburban home to a condo between McKellar and downtown. James is an avid cyclist and Nancy loves being near cafes and boutiques. They need space for visitors to stay. For them, we will need to align the budget, square footage and amenities. It may need to be a slightly older place so that they can have the space to spread out the way they would like to.

John and Justin found during the pandemic that their 2 bedroom condo would be too small when they are both retired. They will need more space for entertaining and pursuing their hobbies into retirement. They are looking for a townhouse or larger condo now.