Three Must-Have Styles When Downsizing to Your Next Home

In addition to less maintenance, lower utility bills and affordable mortgage payments, those considering downsizing also have a wealth of unique Edmonton home styles to choose from. In this article, we’ll cover the top-recommended property types for downsizers, their benefits and why they might be the right choice for you.

Apartment-Style Condos 

If your retirement dreams include escaping Edmonton’s harsh winters or travelling the world, an apartment-style condo may be the way to go. Ideal for those seeking a “lock it and leave it” lifestyle, this type of home is about as low maintenance as you can get (not to mention, very affordable). But don’t let the word “apartment” fool you, these units come in a variety of sizes and shapes, offering you the square footage you need without the hassle of multi-level living. 

Additional Benefits: 

• The single-floor layout is ideal for ageing-in-place
• Available in 2+ bedrooms and/or bathrooms, with plenty of open space for entertaining 
• On-site amenities (i.e. swimming pools, fitness centres, recreation or theatre rooms, private outdoor spaces etc.)
• Security (in addition to having your neighbours close by, this may include keyless entry, on-site security personnel, cameras and more)
• Parking (designated stalls or underground parking) 
• Nearby amenities (shopping, services, recreation and more)

Duplexes 

Those finding themselves a little apprehensive about downsizing may want to consider transitioning into a nice, roomy duplex. Coming in a variety of sizes and price ranges, duplexes tend to offer all the space of a single-family home (including bedrooms, bathrooms and open living space), without the added cost. This style will require a little more maintenance on your part, but this is due mostly to the added yard and driveway space – making them a popular choice for those who enjoy spending time outside.   

Additional Benefits: 

• Only one shared wall 
• Less maintenance than a single-family home 
• Optional finished basements (provide even more living space)
• Close to commuter roads and commercial amenities 
• Suburban locations offering ample parks and green space
• Single or double attached garages

Townhomes 

Between apartment-style condos and duplexes, townhomes can be found somewhere in the middle – especially in terms of lifestyle and affordability. Like duplexes, they offer larger square footage, private yard spaces and, in many instances, a garage. However, like condos, you may be required to pay condo fees (depending on the community). This means you own the land, but exterior maintenance will be taken care of by a condo board or homeowner’s association. 

Additional Benefits: 

• Multi-floor living (with the option for multiple bedrooms and bathrooms)
• Reduced property taxes 
• On-site amenities often included 
• Optional finished basement for more living space
• Located in both urban and suburban neighbourhoods
• Strong sense of community (and security) 
• Nearby amenities (shopping, services, recreation and more)

Talk to a REALTOR®

If you’re thinking of downsizing but are unsure of which property type will best suit your needs, we recommend working with an experienced Edmonton REALTOR®. Not only are they extremely knowledgeable when it comes to the downsizing process, but they’ll also work hard to find a home that meets both your current and future wants and needs – ensuring your happiness now and for many years to come. 

For further downsizing related information, we invite you to download your very own FREE copy of our Step By Step Guide For Downsizing Your Home. Here, you’ll learn everything you need to know about:

• Signs it’s Time to Downsize 
• Determining Your Wants and Needs
• Getting Ready to Sell 
• Moving Tips 
• How a REALTOR® Can Help
• And Much More! 

Click the image below to get started!

Categorised in: Downsizing

This post was written by Terry Paranych Real Estate Group