Michael Wright is a consultant and former Chairperson of the Peel Advisory Working Group on Older Adult Housing. His consulting company, A-Team Strategies, places a strong focus on the shelter and financial needs of Canada’s 55+ population. I have taken a number of seminars with Mr. Wright and implemented many of his suggested strategies and tactics to help my clients make their transitions successful.
I’ve designed my weblog to provide helpful information to my current clients, their friends, and their families. A large part of my business each year focuses on helping those downsizing. These folks fall into one of two categories; ‘(Next to) Last Time Selling’ and ‘Last Time Selling.’ Each market has its own characteristics and requirements.
(Next to) Last Time Sellers
These are the Baby Boomers or Zoomers as the Canadian Association of Retired Persons (CARP) calls them. People in this group are probably living in 3,000 sf on two levels. The lot size is 50X100+. Their kids are in their late ’20′s and are out on their own. The mortgage is paid off and the home that was purchased 25 years ago for $150K will today sell for $750K. What is the next move and where? How will these folks re-purpose their furniture? How much equity will they ‘bank’ and how should it be invested?
Last Time Sellers
These folks have downsized once already. They live in a bungalow, a ‘condominiumized’ town home or apartment, or an adult lifestyle community, and have enjoyed the years since selling their large home where they brought up their children. As the years have passed, their care needs has increased. Children-those in their 40′s and 50′s-are now helping their parents look for long term care facilities in their communities to meet their needs. What are the key considerations? What are the costs?
How The Blair Zilkey Team Helps
We have the practical experience that comes from helping homeowners in both markets downsize. We have access to a strong list of referral business partners to help you with all aspects of your move. We have the patience, compassion, and market knowledge to make these moves successful ones.
The Blair Zilkey Team-Insightful Advice, Leading Edge Implementation