Dear David,
We retired a few years ago. We’ve been talking about selling the family home we’ve owned for decades so we can enjoy a more carefree lifestyle. Several of our friends live in a nearby condo building and we’re thinking about moving there. How do we start the process? – DOWNSIZING
DEAR DOWNSIZING: It sounds like you’re ready to live in a home that doesn’t come with the built-in bother of shoveling the driveway, trimming the shrubs, and cleaning out the eavestroughs.
It’s always great to have a trusted option. A large part of my business comes from referrals – people who’ve had a great experience working with me and have become my greatest cheerleaders to their friends, neighbours and co-workers. It sounds like your friends have become cheerleaders for the building you’ve got in mind, but finding a unit for sale in that particular complex might be a challenge. When you’re planning a move, focusing on one specific location can be both a blessing and a curse.
With your friends’ permission, the first step in your search might be to take an in-depth “tour” of their apartments. Ask them if it’s ok to dig a bit beyond the living and dining rooms where you spend your social time, so you can see the size of the bedrooms, the layout, and the parking situation. How would you get your groceries from the car (or garage) to the house? Is there a storage locker, party room or exercise room? Does the complex host weekly or monthly social activities? Are pets allowed? Does the surrounding neighbourhood have the amenities you need? Living there for the next 10 or 15 years is much different than popping over for a visit once in a while.
If what you find convinces you that you’ve found the perfect home, it’s time to call your Realtor. They should be able to tell you how often units in the building come up for sale. I typically see cases where buildings that cater to a certain demographic (as opposed to the general population) are in high demand. If the property you’re considering has an abundance of units changing hands on a regular basis, you can move whenever you feel ready. If the complex sees just a handful of sales each year, it’s best to start your search immediately. I had an inquiry from buyers a few days ago, and according to the statistics, the number of sales in the building they wanted averaged less than two per year.
PRO TIP: Connect with a Realtor to explore the building you want and see what else is out there. I try to show clients several possibilities that meet their criteria. We quite often find a place that wasn’t on their radar but suits them as well or better than what they had in mind. Location, size, price, and amenities are all important considerations. You need to see what’s available before laying down new roots. #Advice #AskDavid #TheNegotiator
David is a top-selling Broker in Kitchener-Waterloo Region. He works personally with you when selling or buying your home. Call or text today for your free home evaluation! 519-577-1212.
