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Gone
Premium
join:2011-01-24
Fort Erie, ON
kudos:4
reply to IamGimli

Re: [Serious] Banking on your home resale price to retire?

said by IamGimli:

Retirees don't generally go live out in the sticks where they have to maintain huge properties, services are miles away and there's nothing to do but get bored.

They'll more often sell the huge house they raised a family in and move to a townhouse, condo or apartment in the city/suburbs and spend copious amounts of time traveling.

By "sticks" he means leaving large metro areas for small/medium sized cities and towns towns - Elliot Lake, St. Catharines, Peterborough, Victoria, even Fort Erie. The pace of life is slower, the property is a hell of a lot cheaper (well, except for Victoria anyway) but it is by no means rural.

And it's very true. A chunk of our business in the last year has been doing floor coverings for people who have bought homes here in Fort Erie for a fraction of the cost of the home they just sold in the GTA, and then finding ways to live off the money they made on their property. I know first-hand just how much this is happening, and quite frankly it's the only thing keeping the economy going in many of these places.