MOVING DECISIONS

The Ultimate Guide for People

Aged 55+ Who Are Thinking of
Moving to a Smaller Home in Toronto

Presented by John Brydon-Harris

Sales Representative

Royal LePage Real Estate Services Ltd., Brokerage

Office: 416.424.4900
Direct: 416-846-8926

Web: www.idealexperience.ca
Email: john@idealexperience.ca

MOVING DECISIONS
The Ultimate Guide for People Aged 55+ Who Are
Thinking of Moving to a Smaller Home in Toronto
TABLE OF CONTENTS
Where Are You? Demographics and Beyond

Housing in Toronto 3
Facing Facts 6
Transportation 7
The Family Factor 8
The Decision Is Made: Now What?

The Value of Your Home

10

Marketing Your Home 11

Your Possessions 12
Presentation and Staging 14
You, Your Agent and Your Dream Home

16

About Financing 17
The Move 17
One Happy Ending 18
The Gold Standard in Transition Management

19

John Brydon-Harris 3

People are different. And for every individual facing retirement

and deciding where to go from there theres a different answer
to the question: Who am I now?
As our homes and our lifestyles are woven together, where to live
in the next phase of our lives becomes a central issue.
For those Torontonians who are wrestling with the decision of
how and where to live in this next important phase of their life
journey, this guide can help. It can aid you in making the right decision about the way you want to live for the next 10 to 30 years,
and, more importantly, it can tell you how to go about getting that
decision right.

Who Are You? Demographics and Beyond

Those 65 and over now represent 14.4% of Torontos population.
And once again its the baby boomers, born between 1947 and 1966,
who are changing the face of our society as they age.
Older boomers have reached 65, and in their retirement, theyve
already had an impact on Canadas customs and behaviours, not to
mention healthcare services and employment. And this is just the
start, as the last of the younger boomers dont hit that milestone until
the 2030s.
By then more than 9 million individuals in Canada will have reached
65, representing 20% to 25% of the population by 2031; Toronto will
mirror that. And the takeaway is obvious: More change in virtually
every area of society.

Housing in Toronto
That includes housing, which is already changing along with local
baby boomers; an aging Toronto is bringing about a sea change in
the GTA real estate market, as roughly three-quarters of the 55 to 74
age group are homeowners. The vast majority of these homes will

4 Moving Decisions

add to the housing stock. Todays baby boomers may not be listing
yet, but tomorrows undoubtedly will.
Most boomer homeowners are now mortgage free, meaning older
Canadians have considerable equity in their family homes. Interestingly, many are putting a lot of stock in their home equity: almost a
quarter expect the sale of their homes will be a primary source of
income in their retirement, according to recent research conducted
in 2014 by Sun Life Financial; the rest, they believe, will come from
government and employment pensions, individual savings and other sources.
Against this backdrop, other demographic factors come into play:
After age 65, for example, an individuals health begins to deteriorate, meaning older adults are finding it increasingly difficult to manage a large family home. Health costs are also rising rapidly and,
as one interesting statistic from a Canadian Medical Association
(CMA) study indicates, more than three-quarters of Canadians over
45 are concerned they wont be able to afford the costs of aging.
(Perhaps one reason why they plan to count on their home equity in
retirement.)
Currently, a large number of elderly people are living on their own,
either as a result of the death of a spouse or other factors. Family members are often spread out across the country or around the
world, and long-time friends are moving away from the neighbourhood. As well, these neighborhoods are changing, as many older
houses are literally over-shadowed by new builds.
Those older adults who do opt to remain in their own homes face
concerns over safety and security; they are having to adapt their
homes to their new reality, which involves expensive major structural changes (such as elevators or stair lifts, as well as wider doors and
rebuilt bathrooms to accommodate wheelchairs, to name just a few.)
They also will likely need additional support, paid or unpaid, to continue to live as they did. This, too, could be prohibitively expensive

John Brydon-Harris 5

at a time when many seniors are experiencing a reduction in income

as a result of retirement or the death of a spouse.
Lifestyles change as many seniors opt (or are forced to) stop driving, making it increasingly difficult to get to grocery stores, doctors
appointments and churches and synagogues. Visiting friends gets
harder and harder, and something as simple as a walk in the park
may feel dangerous to older people, who regularly read news items
about attacks on the elderly.
Not surprisingly, many are becoming socially isolated, depressed
and lonely.
As the adage goes, aging is not for sissies, and many boomers are
finding it extremely hard to adjust to this new phase of their lives.
They do have choices: over the last 10 years, developers have seen
the statistical writing on the wall and designed retirement residences with todays (and tomorrows) boomers in mind. Adult lifestyle
communities offer amenities and security for those who like to be
surrounded with individuals their age. And those who prefer their
own company are finding a compelling option in downsizing, particularly in the Toronto area.
Torontonians are a special breed of individuals and most value the
nearness of our big city and all that it offers in the way of worldclass entertainment, recreation, shopping and dining. So many will
be looking to downsize where the lights of downtown are a short
transit ride away.

THE DOWNSIZING OPTION

Statistics indicate that the vast majority of people would prefer to

age in place, if not in their current home, then in a smaller home in
the same community. The result can be described as the best of
two worlds: They remain in familiar territory and retain the privacy
boomers value so highly, and at the same time, they benefit from

6 Moving Decisions

reduced maintenance and a more comfortable lifestyle. Its the transition thats difficult.

Facing Facts
Before even starting to consider the downsizing option theres one
issue that is paramount and must be addressed. It is: Do you have to
move for financial or health reasons, or is it something you want to
do (even though there are still lots of questions, concerns and issues
to be dealt with before the final decision?)
Your answer will dictate your choices from here on in.
Following is a short questionnaire that can help. It also can serve as
a jumping off point for discussions with your spouse or other family
member. And it can raise other questions and issues that need to be
considered:

Have you lost your spouse and now find yourself alone in
your large family home?

If your partner is still with you, are either or both of you

suffering from mobility or cognitive issues?

Do you and/or your partner no longer drive?

Do members of your close family live far away?

Do you need household help?

Are your friends and neighbours moving away?

Is the house more than you can handle?

Are you too far away from public transit?

If you answered yes to most of these questions, you may be ready

to sell your home and either downsize closer to home or follow up
with assisted living or retirement residence options. Even if not, you
may just want a smaller place to call home.

John Brydon-Harris 7

Transportation Plays a Big Role in Your Downsizing

Decision
Rather than an afterthought, transportation considerations should
be an integral part of your decision to downsize.
Research indicates that we will live at least 10 years after we can no
longer drive. A scary statistic for some! Scratch a Torontonian and
youll probably find a person who wants the system to improve, however, compared to other cities, our system isnt bad. The network of
subways, buses and streetcars make it easier to get around here
than in other cities both in and out of Ontario. And as drivers realize
daily, its sometimes a lot faster to take transit than drive, particularly
during construction season and rush hours.
That said, getting to and from the subway, bus or streetcar is often a
challenge for older people. Those last few blocks may well discourage older people from venturing out, and, as a result, will detract
from the quality of their lives. Getting off and on transit, particularly in
Torontos nightmarish rush-hours, presents physical barriers to those
dealing with mobility challenges.
Its important to be able to leave home: The ability to visit friends, get
to doctors appointments or the gym, see a movie or return a book,
and, of course, buy groceries, is part and parcel of an active lifestyle,
and not having opportunities will leave older people (and younger
ones as well) isolated and depressed.
For those who drive, transportation is a major household expense,
some stats say it represents up to 25% of total income. This can be
lowered to less than 10% if you can live closer to all the amenities
one good argument for downsizing in one of Torontos many neighbourhoods near transportation.
Look at your current neighbourhood and examine your regular daily
activities. Then figure out how you would manage to do all your daily
errands if you didnt drive. Do your activities take you far from home?
You may want to downsize somewhere closer.

8 Moving Decisions

The Family Factor

Lets eavesdrop on the following imaginary conversation. Why?
Because versions of this conversation are taking place right now
throughout Toronto in neighbourhoods just like yours. Its important
to recognize the potential for inter-family conflict over selling the
family home and downsizing. Because all the statistics and facts in
the world cant carry the weight that an argument with adult children
can have over the issue of downsizing.
Daughter: Fifty years ago when Mom and Dad bought this house, I
dont think they had any idea it would come to this.
Son: Its not easy for any of us. After Dads death, Mom has been
finding it really hard. I know shed like to downsize, but I just cant
bring myself to agree to sell the home we grew up in.
Daughter: I know. Where will the kids come for holidays? They need
their roots now that we live so far away.
Son: All I can remember is swinging on that old apple tree in the
backyard. Remember you broke your wrist climbing that tree? Our
kids wont get the chance to do that.
Daughter: But selling may be best for Mom Oh, I just dont know
what to do
As this conversation shows, families everywhere are struggling to
come to grips with selling the family home: Family members may
live hundreds of miles away, and therefore will find it particularly
hard to decide such important issues at a distance; parents may feel
that downsizing is the right answer but not want to get into conflict
with their family over it.
Yes, it is a family issue everyone should have a chance to contribute to the debate, even the grandkids but ultimately its what the
older person wants and needs that should sway the decision. And
thats as it should be.

John Brydon-Harris 9

The Decision is Made; Now What?

Once you decide to downsize, youre then faced with a whole new
set of questions, as you decide where to go from here.

Do you want to stay in the same neighbourhood or do you want

to look farther afield? As mentioned above, research indicates that
most older people prefer to stay with what they know. So if it fits with
other needs, such as proximity to transportation, health care, grocery stores, family and other concerns, you may want to stay close
to home. This, too, will determine where you want to focus your
energies.
When do you want to do this? Do you want to be in your new home
within six months, six years or six weeks? If youre thinking of buying
new construction, timing will be important.
What type of home are you looking for: Detached, semi-detached,
townhome, condominium? Does an urban nest in the sky appeal after years on the outskirts of downtown or does a smaller detached
home in a neighbourhood similar to yours sound right for you? Or,
what about a bungalow in a slightly more suburban location? Do you
need somewhere without stairs, either now or perhaps in the future?
How much maintenance do you want to do? Is parking a necessity?
What about recreation proximity to walking trails, a nearby community centre and parks?
And what about cost? Torontos real estate market has changed
since you bought your family home. Youll need help navigating the
new reality of housing in the city. (For example, did you realize that
the average price of a detached home in downtown Toronto at the
end of 2014 was skirting $1 million, thanks to the scarcity of this type
of housing? Many detached properties are going for well over that.)

10 Moving Decisions

TRANSITIONS

The Value of Your Home

Once youve faced these issues (or maybe while youre still considering them), it will benefit you to contact an experienced real estate
agent. You need to know the value of your own home in order to
make an informed decision about downsizing.
The Toronto real estate market can be a scary place to someone
revisiting it for the first time in many years. Your real estate agent
should be familiar with your neighbourhood and be able to help you
navigate these tricky waters.
For example, the Toronto Real Estate Board has produced a chart
detailing the monthly MLS average price from January 1995 to January 2014. In January 1995, this average MLS price hovered between
$175,000 and $225,000; five years later it had moved slowly to settle near the $225,000 mark. But if you fast forward to January 2014
its just over $575,000.
This chart, which doesnt consider the impact of inflation, just gives
a snapshot of the way the market has performed over this period. A
real estate agent, with access to all sorts of additional information,
will be able to put this in perspective, hone in on whats happening
in your own neighbourhood and give you a fact-based answer as to
what your home is worth now based on sales of comparable neighbouring homes (called a CMA, or Comparative Market Analysis.)
What factors go into valuing your property? Your agent will look at
the active listings the listing prices of homes currently for sale
in your neighbourhood as well as the solds, which show the actual selling prices of properties in your area. As much as possible,
the agent will compare apples to apples, meaning other properties
should be as close as possible to yours in terms of square footage,
amenities, upgrades, age, and location.

John Brydon-Harris 11

With a CMA, the comparables must be just that, comparable. Agents

look for houses with similar square footage, amenities, upgrades,
age, and location.
Contacting a real estate agent is one of the first steps you should
take even before you decide what you want. Most experts believe it is probably the most important single factor in downsizing
successfully.

Marketing Your Home

The approach to marketing your home has changed dramatically
over the years. Where newspaper advertising and an open house
or two may have been all that was required several years ago, the
Internet and social media have been game changers as far as marketing todays properties is concerned.
Many buyers look first online before even venturing out to an open
house. Your real estate agent may recommend taking a raft of photos of your home, from both inside and out; preparing a 360-degree
tour; and, if your landscape and the scope of your property is especially noteworthy, even a video of your home filmed from above,
courtesy of a drone.
Close to 90% of buyers still purchase through a real estate agent,
and it is important to use his or her expertise not just in pricing but
in marketing your home.
The reason is because buyers also have changed; they are now
looking for properties that are updated with hardwood floors, open
floor plans, stone countertops, new wiring and plumbing which
your home, however lovely to you, may not have.
It may be a shock for many older adults who have lived in their homes
for 30 or 40 years to discover that buyers are shunning some of the
very things that attracted them to their homes.

12 Moving Decisions

Those with-it tiles and shiny white appliances are no longer prized.
The cozy kitchen with the breakfast nook isnt large or open enough
for new buyers. The windows are energy-wasters. And who covered the hardwood floors with carpeting?
Your real estate agent will help. And likely as not, he or she will
mention staging your home which really is just a word that means
presenting your home in the best light, so buyers can see its great
features and arent distracted by the not so great ones.
And almost certainly youll find you will need to downsize your possessions to downsize your home.

Your Possessions
Everyone finds change difficult, especially older adults. The thought
of moving, let alone downsizing to a smaller place, can terrify the
best of us. And the idea of having to get rid of much-loved possessions collected over many years is particularly agonizing.
For the majority of older adults, divesting their possessions is the
most difficult part of the downsizing process, and it can be a highly
emotional one. Especially because with the exception of special
family heirlooms or memorabilia many adult children and their children are unlikely to want any of it.
Even a relatively healthy person will find going through a basement
or attic packed with things that have been gathered over a lifetime
physically and mentally draining. If the family lives a distance away
they may not be able to help, and chances are friends of the same
age will also find this kind of labour physically demanding.
As well, many people dont know very much about the current market for antiques, art and other collectibles. Sadly, unless they are
very much in demand and very special, there isnt a great market
today for older furniture, china, or even the family silver. But its

John Brydon-Harris 13

important to find out. No one wants to be the person who threw a

Picasso ceramic plate into the thrift store box.
Here are some tips:

Locate a reliable appraiser or appraisers, who can provide

accurate assessments of antiques, paintings, jewellery, and
even stamp and coin collections.

Ask the appraiser(s) for suggestions on disposing of these

valuables by the best method possible. They should provide
you with several options.

Discuss the appraisals with family members. As suggested,

they may not want anything, but talking about it is an important safeguard to prevent problems in the future.

Give them whatever they want as soon as possible for a

couple of reasons: The first is that it helps with the process by
taking these items and their emotional attachments right out
of the house: Out of sight, out of mind. Second: It may make
it easier in future to get rid of other, less sentimental items.

Get some help to sort the remainder, either from professional organizers or from friends and relatives.

As you come across them, put the items you know you want
to keep in a separate place altogether. Its important not to
throw the baby out with the bathwater in error.

Sell or give away what remains. Valuables can be sold

through auction houses, while worthy but less valuable
articles in good condition can go to antique stores. A garage
sale will likely take care of the majority of leftover items and
what remains (as long as its usable) will probably be welcomed at church rummage sales or a local charity.

14 Moving Decisions

Be forewarned: The process of divesting may take a number

of weeks or even months to complete. And, believe it or not,
after youve faced this, moving wont seem quite as scary.

Presentation is Everything
Putting the best face on your home to attract potential buyers is
well worth it. It can bring a premium of up to 20% more over similar
properties that havent been staged. Its a classic case of spend a
little to get a lot.
If you Google staging youll get some 1,610,000 results in 0.34 seconds, so theres no shortage of information or how-tos. Your real
estate agent will be valuable in two ways: first, by identifying those
areas that need repairs versus the ones that simply need sprucing
up. And secondly, by recommending professionals who will make
the changes your home needs to look its best.

Staging Suggestions
Buying matching kitchen appliances, installing hardwood flooring,
changing lighting, and even painting wont make as big a difference
as a good cleaning, decluttering and removing all personal items
will make. That includes family pictures, religious items, tschokes
and anything else that might distract buyers, who want to see themselves in your home. That also means the grandkids pictures on the
refrigerator, pill bottles on the nightstand and framed certificates in
the den. And this is something you can and should do yourself,
if you are able.

John Brydon-Harris 15

After youve decluttered and depersonalized, the professional youve

hired may suggest bigger projects. Here are some possibilities:

Certainly tell the professional what made you love your home

over the years, but be aware that he or she may also be able
to pick out wonderful features youd never thought of. Just one
example: Todays buyers really like built-in storage, particularly bookcases. A professional may suggest a way of displaying
items on the bookcases that really allow buyers to imagine
themselves living there. It likely will require you to depersonalize and declutter.
According to experts, 90% of buyers decide to look at your

home based on its curb appeal. The professional stager may

recommend cleaning or even painting the exterior; new lighting,
numbers and door hardware, and of course, cutting the grass
and sprucing up the landscaping.
Kitchens and bathrooms sell houses, and thats where most of

your renovation dollars should go, particularly if you havent

made changes since you bought the home. Youll get an 80%
plus return on the investment you make renovating your kitchen, and roughly 75% from bathroom renovations.
Income Propertys Scott McGillivray says hardwood flooring is

the number one home feature most requested by buyers. If you

live in one of Torontos older neighbourhoods, you may well
have hardwood in good condition under your carpeting. Expose
it; it will help sell your home.
Painting the interior of your home may be disruptive, but its

almost essential. Many experts will suggest using neutrals

throughout, but colour-blocking one wall in the living room or
brightening an upstairs hallway with one of the seasons more
popular colours, can make your home stand out.

16 Moving Decisions

YOU, YOUR AGENT, AND YOUR

DREAM HOME
A good real estate agent will not abandon you once your home is
sold. He or she will not feel the job is done until you are comfortable
and happily ensconced in your new home. And that means finding
the right home for you, presenting your offer and negotiating with
the sellers agent. It also means that your real estate agent may
provide you with help to move and recommend individuals who can
fix, clean and help decorate your new home.
For second nesters, moving into a new, smaller home can be exciting an opportunity to start over, maybe in a new neighbourhood or
maybe in your own neighbourhood on a smaller scale. As noted, the
same real estate agent who helped you sell your home, held your
hand during the auction sale and moved boxes as you decluttered,
can find you Dream House #2.
Remember that he or she is more likely to know in advance when a
special property is about to come onto the market and even a twohour lead might mean the difference between snagging the perfect
house or losing it to someone else.
He or she also is experienced in multiple offer situations and has
strong negotiating skills gleaned from many years of bargaining
on behalf of hundreds of clients. Listen to what your agent has to
say and follow his or her lead. Trust him or her to take the right
tack in presenting your offer. And dont lose the second home of
your dreams over a few thousand dollars or appliances that arent
included.
Most Torontonians who downsize are going from a single family home to a condo; one of the main challenges in trading in a
three-storey detached home for a small condo with a view is not
having sufficient storage space, cupboards and closets. One woman, who downsized from her large home in Toronto, to a 1,000-sq. ft.
condo didnt tell her agent about her concerns over lack of storage

John Brydon-Harris 17

space, thinking perhaps that shed learn to live with less. After only
six months she could no longer tolerate the space issue and had to
move again fortunately her agent was able to find her a townhome
with a bedroom and bathroom on the main floor and lots of closets
and storage space.

About Financing
Just as prices and buyers have changed since most older adults
purchased the homes they live in now, financing and mortgages
have changed, too. If you decide not to make an all-cash offer, some
sort of financing will be involved in the purchase of your new home.
Youll need a mortgage specialist to help you buy and your financial
institution and/or financial advisor to provide advice on all matters
financial.
Its usually advisable to stick to the same bank and financial advisors
youve dealt with over the years; they know your situation and will
be able to use their long-standing relationship with you to offer you
the best advice. By the same token, you may also want to stay with
your current lawyer, if he or she is familiar with real estate law. If not,
it may be advantageous to ask him or her to recommend a good real
estate lawyer.
On the other hand, it might be best to ask your real estate agent to
recommend a good mortgage professional. Your agent has likely
worked with many mortgage brokers over the years, and will know
which one is best suited to your needs.

The Move
Most agents will be able to suggest a good moving company. These
days its important to get recommendations from a reliable source,
because there are many moving scams taking place in and around

18 Moving Decisions

the city. It goes without saying that you dont want this to happen to
you.
Cheaper is not always better. Often discount brokers sub-contract
the move to another company so you dont really know who youre
dealing with should something go wrong. A 2013 CBC Marketplace investigation of discount movers recounted tales of damaged
goods, delivery delays, valuables that mysteriously disappeared,
and upset consumers, who had to pay an additional fee before
their belongings would be unloaded.
Protect yourself by contacting the local BBB and/or the Canadian
Association of Movers. Ask for referrals. Get estimates in writing.
Make sure the movers contact name and telephone number are
valid. And move your valuables yourself.

One Happy Ending

As one downsizer said after several happy years in Dream Home
#2, Yes, it was traumatic, and it was devastating to walk away from
the home we loved and raised our family in. But in another way, we
both felt freer than we have in years. Were less encumbered with
things now, and can actually walk out of our condo, close the door
and know we dont have to worry. Theres no grass to cut, no leaky
roofs to fix and no more sewer backups. There is, instead, a lovely
solarium with a fabulous view of the city where we can have coffee
in the morning. We have all the amenities of Toronto on our doorstep. We even have an extra bedroom to house our grandkids and
lots of space to entertain.
Were both glad we downsized now.

John Brydon-Harris
The Gold Standard in Transition
Management
Downsizing can be the best move youve ever
made.
But to make a successful transition from
Dream House #1 to Dream House #2, you
need help.
Many agents may offer individual downsizing
services by delegating various tasks to others.
I offer a concierge service.
I will be your SINGLE POINT OF CONTACT
for every downsizing activity. My sole supplier
is Interior Care an established 52-year-old
North Toronto home services company with a
winning reputation.

John Brydon-Harris is a real

estate agent in midtown
Toronto, and a specialist in
successful transitions.

I can order a dumpster; install a new furnace; replace your carpet; paint your
house; lay down sod; handle your local move whatever is needed And I
can finance it. I can even provide necessary repairs and decoration services
for your new home.
My commitment is to manage your transition and see you happily settled
in your new home.
For a free, no obligation consultation, contact me at:
Royal LePage Real Estate Services Ltd., Brokerage
1391 Bayview Avenue
Toronto, ON
M4G 3A6
Office: 416.424.4900
Mobile: 416-846-8926
Fax: 416.424.4930
Email: john@idealexperience.ca

JOHN BRYDON-HARRIS
Sales Representative
Royal LePage Real Estate
Services Ltd., Brokerage
1391 Bayview Avenue
Toronto, ON
M4G 3A6

Office: 416.424.4900
Direct: 416-846-8926
Web: www.idealexperience.ca
Email: john@idealexperience.ca

Seniors Real Estate Specialist

idealexperience.ca
unparalleled service in real estate. guaranteed.