<\/p>\n
The kids are long gone, you\u2019re in a big home that requires a lot of maintenance and is expensive to heat and cool. You\u2019re also thinking\u00a0it\u2019s\u00a0time to explore a different kind of living. So why not downsize?\u00a0<\/p>\n
With downsizing, however, comes hard decisions. Should you stay nearby or leave town? Do you want to live in a condominium or single-family home? Making the wrong move will cost you and maybe you\u2019ll have to relocate once again.<\/p>\n
According to\u00a0recent studies,\u00a0people downsize for a variety of reasons\u00a0\u2013\u00a0a\u00a0desire\u00a0for\u00a0lower monthly housing costs,\u00a0a\u00a0larger home is too much work,\u00a0there are\u00a0fewer family members\u00a0in the household\u00a0and\u00a0not as much space is needed,\u00a0and\u00a0the\u00a0wish\u00a0to free up cash from\u00a0a\u00a0prior home\u00a0while building equity in another.<\/p>\n
Whatever your reason, the solution may be a\u00a0land-lease home where you buy the home outright\u00a0and\u00a0lease the land.\u00a0By downsizing from a larger house with higher costs into a\u00a0land-lease\u00a0home, retirees\u00a0can\u00a0free up cash for more important things in\u00a0life.<\/p>\n
The key to the affordability of\u00a0land-leasing is that\u00a0you\u00a0pay for just the home and not the lot it\u00a0sits on, making\u00a0it\u00a0much more affordable.\u00a0This means\u00a0you\u2019re\u00a0then free to do whatever\u00a0you\u00a0wish with the money\u00a0you\u00a0unlock from the sale of\u00a0your\u00a0current home, or money\u00a0you\u2019re\u00a0not paying the bank in big monthly mortgage payments.<\/p>\n
What you do with that money is your choice. Many land-lease homeowners are snowbirds or frequent travelers. Some purchase nearby golf memberships or their dream car or boat, or simply create more retirement savings that may not be possible otherwise.<\/p>\n
Moreover,\u00a0land-lease homeowners continue to build equity because they own the home. Market\u00a0analysis\u00a0shows that well-maintained homes in\u00a0land-lease communities appreciate in value\u00a0similar to\u00a0freehold homes in the same market.<\/p>\n
And, since\u00a0land-lease communities are also\u00a0often located in picturesque settings\u00a0a short drive from larger urban centres,\u00a0the model\u00a0may be an\u00a0attractive housing option for retirees who are considering downsizing as their needs change.<\/p>\n
Find\u00a0more information\u00a0at\u00a0parkbridge.com<\/p>\n
<\/p>\n
Source: www.newscanada.com<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
The kids are long gone, you\u2019re in a big home that requires a lot of maintenance and is expensive to heat and cool. You\u2019re also thinking\u00a0it\u2019s\u00a0time to explore a different kind of living. So why not downsize?\u00a0 With downsizing, however, comes hard decisions. Should you stay nearby or leave town? Do you want to live […]<\/p>\n","protected":false},"author":1335,"featured_media":1800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2,10],"tags":[],"class_list":["post-2418","post","type-post","status-publish","format-standard","hentry","category-immobilier","category-news"],"acf":[],"yoast_head":"\n