Buying a Home Outside the GTA
There's no doubt that due to the housing development history of Toronto, the further one ventures from the city core, the lower- real estate prices become. Many downsizing seniors look to the outskirts to provide greater housing value. It's a win/win situation: They get to maintain their lifestyle goals while pocketing the difference between the value of what they sell versus what they buy.
Another advantages is that by relocating outside the GTA. these downsizers are often closer to family and friends who can't afford to own a home in Toronto proper. So While the main motivation is usually financial, there can be some definite lifestyle advantages too to smaller town life:
Slower Pace Of Life Less Traffic Congestion Greater Sense Of Community
For these (and many more) reasons. certain communities popular with downsizers have experienced rapid growth and development lately. Towns like Port Hope, Coburg and Oshawa to the east: Barrie, Orillia, and Peterborough to the north: London, Burlington & Hamilton to the southwest: All warrant consideration for their new building development geared to seniors, as well as their established infrastructure such as hospitals, cultural amenities and community happenings.
Best Places To Retire In Ontario
OWEN SOUND
Affordable housing as well as cultural and outdoor activities geared towards adults 55+ makes Owen Sound a top retirement destination for many Ontarians. The Canadian Association of Retired Persons (CARP), as well as Yahoo Finance and The Globe and Mail have all singled out Owen Sound as a top Ontario retirement destination.
STRATFORD
Stratford is gaining a name tor itself outside of its theatre festival, which it's so well known for. According to Melissa Leong, of the Financial Post, this quaint community has among me lowest living costs of North American cities, and housing costs are between 10-30% lower than current Canadian and American averages. MoneySense also lists Stratford as one of the top 10 places to retire in Canada. citing it's low property taxes, good access to doctors, and temperate climate.
ELLIOT LAKE
This small city, located in northern Ontario made The Globe and Mail's list for top retirement locations in Canada. lt could be the beaches and lakes, hiking, skiing and snowmobile trails, or the affordable living options enjoyed by ifs 11,000 residents that makes this idyllic town so popular amongst retirees.
NIAGARA FALLS AND NIAGARA-ON-THE-LAKE
The Niagara region offers affordable housing and a booming cultural pulse including wineries, restaurants and theatres. With close Proximity to both the GTA and southwestern Ontario, it's no wonder that the Niagara region has the second-highest percentage of seniors in Ontario (behind Peterborough). Considered the 7th best place to lnvest in Canada, In 2017.
PETERBOROUGH
In Peterborough one in five people are seniors, reports Leong. "We were noted as being one of the best cities in the country as being age friendly and we continue to build on that structure as we move along" says mayor Daryl Bennet, who cites the variety of cultural activities and affordable Iiving as reasons for Peterborough's popularity amongst seniors in Ontario. In 2017, it's listed as one ot the best places to invest in Canada.
For these (and many more) reasons. certain communities popular with downsizers have experienced rapid growth and development lately. Towns like Port Hope, Coburg and Oshawa to the east: Barrie, Orillia, and Peterborough to the north: London, Burlington & Hamilton to the southwest: All warrant consideration for their new building development geared to seniors, as well as their established infrastructure such as hospitals, cultural amenities and community happenings.
WINDSOR
With the same latitude as the northern border of California, Windsor is Canada"s most southern city, and so it shouldn't be a surprise that this wine-rich area made The Globe and Mail's list for best retirement cities in Canada. Windsor is a popular choice amongst Ontario seniors, who are enjoying the low-cost of living that Windsor offers
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