Retirement Planning:

(NC)—According to Statistics Canada, our aging adults are projected to surge from 14.4 per cent of the population in 2011 to 24 per cent by 2041, putting extraordinary pressure on the housing market for those 55+. Many Canadians are planning for the future and are now asking the questions: when we retire, where do we want to live and can we afford it?

Other statistics show that in 2011 the first of nine million Canadian baby boomers will hit the age of 65, while others in their fifties are starting to look ahead. With this surge in Canada’s aging population, the 50+ crowd is expected to downsize their space but upsize their lifestyle, creating an increased demand for housing choices. Upsizing means living the lifestyle they are accustomed to, including social activities like great restaurants, entertainment and fitness, to access to health care. This group will also be seeking low-maintenance, convenient and affordable housing options with all the amenities.

James Pelmore, a Senior Investment Advisor with DWM Securities Inc., works with aging adults to help them understand how to evaluate their existing equity and savings plans to make the best housing decisions when approaching their retirement years. “A major focus of my business right now is working with active retirees or couples and individuals on the verge of retiring, to develop a sound plan to downsize,” says Pelmore. “Today’s aging population has a greater demand for quality-of-life and thankfully with good financial planning and increasingly more housing options that include maintenance and amenities, retirees can maintain their social status by upsizing their lifestyle,” he adds.

One Canadian company poised to meet the market demand for affordable and active adult lifestyles is the Longwood Community on Vancouver Island. Longwood offers the 55+ demographic condo-style, independent living which helps residents downsize to manageable and more affordable housing while enjoying a resort style atmosphere. Added bonuses include housekeeping, room service, handyman services and catering that can be delivered to your doorstep. Owners can also partake in social activities and fitness in the clubhouse. Given the warmer climate, healthy outdoor activities such as golf, cycling, and hiking are all popular on Vancouver Island.

Alison Howard, a sales consultant for Thornbridge at Longwood, finds that more and more potential buyers are interested in the social aspects and activities provided by this well-rounded community, as well as decisions about living space. “We have seen a shift in priorities for those inquiring about our property,” Howard explains. “The fact that we have well-priced condominiums—with golf, cycling, yoga, and beachcombing just steps away from one’s back door—has really helped us tap-in to the demands of today’s retirees.”

Specialists in this field also agree that with the help of sound financial advice and a real estate market in-tune with demand, today’s aging adults can make retirement decisions that grant them stability and quality-of-life right here in Canada.

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