Is Downsizing your home right for you?

The number of Zoomers choosing to downsize from their current homes to a more manageably sized one is on the rise. Many say continuing to maintain a large family home can be difficult –  both physically and financially

 Zoomers moving have so many options — from buying another house or condominium to moving into a rental accommodation, independent living community or continuing care retirement community.

Some of the Advantages to downsizing may include:

Being closer to friends or family

Lower home maintenance costs

Better access to services that support your needs

Having more amenities such as access to a pool, golf course or gym

Not having to shovel snow or mow the lawn

Increased social interaction with other 50-plus residents

Some of the factors to keep in mind when downsizing

Emotional considerations: 

Your Property value

Financial considerations

The condo lifestyle

Adult Living Communities

If you are considering downsizing your home, you should first examine your reasons for wanting to do it and ensure that your new environment will meet all of your needs. It is also important to speak with your family before making the decision. We recommend meeting with a Wafa & Jalila your local realtors to discuss what you’re looking for and whether what you want is affordable.

Curious about what your home is worth? Give us a call; you will be pleasantly surprised at your home’s current value. Planning a renovation? We can advise you where you will get the most return on your investment.  Please accept this as your personal invite to call upon us with any of your real estate needs. We can be reached at 416 699 9292 or drop us an e-mail at info@wafamasri.com

Planning an extended holiday or retirement in Sunny Florida or Arizona? Here's a little checklist before you go.

Buy travel insurance early

Canadian health coverage is limited in the United States, not adequate for medical emergencies, and travel coverage often can't be bought after you've left Canada.  Many providers offer a discount when policies are bought well in advance of departure. In addition, if you develop a medical condition before your trip and you haven't already secured a policy, this could delay or prevent coverage. To save on premiums, choose a policy with a high deductible.

Get the best exchange rate

Banks and currency brokers offer better rates to customers who exchange a large sum. Before you exchange your Canadian money, shop around for the best rate, and avoid currency exchange kiosks, which typically charge a much higher commission.

Open a U.S. or cross-border bank account

Having a U.S. or cross-border bank account makes it easier to pay bills and write cheques for U.S. expenses. In addition, financial institutions with cross-border banking can help you avoid foreign-transaction fees and can help you establish U.S. credit history, making it easier to get a loan or mortgage.

Notify your home and auto insurers

Many home insurance providers require notification if your house will be vacant for months at a time. While you may pay a higher premium during your absence, failing to follow this step may invalidate your coverage. You may be able to reduce your auto insurance coverage if you are leaving your vehicles behind.

Be Prepared at the Border

To move smoothly through U.S. customs, bring evidence that you have every intention of returning to Canada, such as the previous year's tax return or recent utility bills.

Prevent hassles at customs

Avoid travelling on a one-way ticket, a ticket that was purchased for cash or one that was bought immediately before a flight. Don't cross the border in a vehicle that is not registered to any of its occupants, or that is registered in a place in which you do not reside. Avoid travelling with a companion who has a different immigration status from yours in the country you are attempting to enter. And make sure the names on your travel documents contain no variations.

Are you or someone you know considering buying, selling or investing in the US real estate market, call me