Are you like many Albertans that dream of living somewhere else after retirement? Popular destinations include the Okanagan, Vancouver Island, the Sunshine coast or perhaps Arizona. Where else do Albertans like to go?
Before you leap it might be a good idea to look at the bigger picture and consider what such a move would actually mean to many facets of your life. For example.
1. Consider the cost of living. Food, heating and water plus the cost of accommodation might cost you more or less than your current situation. If it costs less it could be a no brainer. What if it costs more? Can you afford to live in a more expensive area?
2. Consider your quality of life. Many people want to enjoy mild winters, sea air and perhaps a view. All good things. How will you feel about perhaps living remotely from your family? Making new friends?
3. Consider the tax environment. If you stay in Canada perhaps not too much will change, although one of my clients did mention that if you have a second home in British Columbia you pay a non-resident tax. If you move to Arizona you may pay tax in 2 countries. Seek professional advice.
4. Consider the climate. Most folks are drawn to a warmer climate for comfort reasons and I would suggest anywhere in Canada is going to be comfortably warm (although we cycle in Penticton’s most summers and it can get very hot for that). What about Arizona. To most Canadians Arizona is hot and then hotter. Would you want that?
5. Consider travel plans. Personally, I love Nelson British Columbia. However, I might not ever go and live there. Its too hard to get to. What about seeing your grandchildren? If they live back in Edmonton, can they come and visit you easily? Is it easy for you to get back to Edmonton?
6. Consider a trial run. Before you rush off and buy a new home in some lovely location, why not rent a home for a summer or a winter (or both) and see how it goes. If you postpone selling your Edmonton area home you can always come back if it does not work out…
About the author:
Stuart Neal is an accredited Seniors Real Estate Specialist (SRES®). Many of his clients are downsizers. You can read more about the author of this blog by clicking this link – Stuart Neal Broker Owner & REALTOR®
Want more information about our lower cost FLAT FEE home selling programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014 or visit our home sellers page www.FlatFeeRealtyAdvisors.ca