Downsizing shapes up differently for gen Xers in Alberta
Article content
The next crop of new retirees plans to do things differently than those before them, at least when it comes to real estate.
Article content
'We've got people near retirement age, looking to downsize after their kids are grown and have moved out and they're looking for less space,' says Natosha Wareham-Bakker, realtor at Royal LePage Benchmark in Cochrane, who also works in Calgary.
Article content
Article content
Article content
'But many are going into that next stage with a mortgage because housing prices are not what they were 20 years ago.'
Article content
Article content
A new survey from Royal LePage of realtors and retiring homeowners supports what the local realtor is seeing among new retirees. It shows that of those Canadians retiring in the next two years, nearly three in 10 will carry a mortgage.
Article content
What's more, 46 per cent of all nearly retired respondents plan to downsize before or shortly after retiring.
Article content
In its survey of realtors, Royal LePage found real estate agents estimated about four in 10 near retirees planning to downsize will move to a standard condominium whereas one in four plan to move to an age 55-plus community.
Article content
In Alberta, however, realtors note not having any near-retirees planning to move to a condominium, while 50 per cent indicate moving to a 55-plus community.
Article content
Article content
'In Alberta, there is a lower average instance of downsizing than in other parts of the country,' says Anne-Elise Cugliari Allegritti, national director of research and communications at Royal LePage in Vancouver.
Article content
One reason for that lower rate could be the preference for downsizing in the province, whereby they are not looking at the abundant apartment condominium options as much as they seek villa-style 55-plus communities.
Article content
'There is less supply and more competition to find that right-sized property,' she adds.
Article content
Downsizing clients are indeed favouring bungalows and villa-style homes with typically one floor of living space, Wareham-Bakker says.
Article content
'The 55-plus communities are appealing to people who don't have to rush to work every day,' she says, noting these often new developments are amenity rich.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Ottawa Citizen
41 minutes ago
- Ottawa Citizen
Chaudhary: Canada is right to invite Modi to the G7
As a proud Canadian who has lived and worked in Ottawa for many years, I have witnessed first-hand how this city — and our country — can serve as a bridge between nations. Ottawa, as our capital, is not just the seat of government, it is where diplomacy takes root and relationships between Canada and the world are nurtured. Article content It is heartening, then, to see recent steps toward a renewal of Canada–India relations. The invitation extended by Prime Minister Mark Carney to Indian Prime Minister Narendra Modi to attend the G7 Summit in Alberta is a meaningful gesture, signalling a desire to re-engage and move forward. This renewed spirit of dialogue offers an opportunity to build stronger economic, cultural and strategic ties between our two great democracies — and to align our relationship with the realities of today's global landscape. Article content Article content Article content A timely reset in relations Article content There is no need to dwell on the events of the past two years. Those who care deeply about the Canada–India relationship, as many Canadians do, understand that the national interest is best served by looking forward, not backward. There are serious tensions between the two countries, yes, but both are capable of addressing them while striving for a strengthened relationship. Article content India's place on the world stage continues to rise. It is now the world's fifth-largest economy, a key player in global manufacturing and technology, and an influential voice in international affairs. At the same time, Canada remains one of the world's most open, innovative and resource-rich democracies — with deep commitments to global engagement and inclusive growth. Article content There is much that unites us: shared democratic values, a respect for diversity, strong rule of law, and a common interest in promoting peace and prosperity in an increasingly complex geopolitical environment. Article content Article content Trade and investment are natural pillars of any renewed partnership. India's vast and growing market, with a middle class projected to exceed 500 million people in the coming years, presents major opportunities for Canadian businesses across sectors. From clean energy and critical minerals to agri-food, technology and education, Canada has much to offer and much to gain. Article content In Ottawa and across the National Capital Region, where there are approximately 40,000 Canadians of Indian heritage, many firms are well positioned to contribute to this economic engagement. Our technology sector is world-class. Our universities and research institutions are centres of excellence. Our energy and natural resource companies are leaders in sustainability. There is enormous potential for collaboration in areas such as digital transformation, clean technologies, life sciences and advanced manufacturing.
Cision Canada
2 hours ago
- Cision Canada
Hearing Notice - CIRO to Hold a Settlement Hearing for Echelon Wealth Partners and Stephen Burns Français
TORONTO, June 13, 2025 /CNW/ - A hearing has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Investment Dealer and Partially Consolidated Rules to consider a settlement agreement between CIRO Enforcement Staff and Echelon Wealth Partners (Echelon) and Stephen Burns. The hearing will become open to the public if the panel accepts the settlement agreement. If the settlement agreement is accepted, the panel's decision and the settlement agreement will be made available at Settlement Hearing Date: June 25, 2025 at 10:00 a.m. (Eastern Time) Location: Toronto, Ontario (by videoconference) Members of the public, who would like to obtain further particulars, should fill out this form. The Notice of Motion announcing the settlement hearing is available at: Echelon Wealth Partners Inc. and Stephen Burns - Notice of Motion The alleged violations occurred while Stephen Burns was a Registered Representative with Echelon, where he is still employed in a registered capacity. Echelon has been a Dealer Member with CIRO and its predecessor since April 8, 2010. The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO's website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322. CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.
Cision Canada
2 hours ago
- Cision Canada
Canadians can apply for the Canada Disability Benefit on June
First payments to be issued in July GATINEAU, QC, June 13, 2025 /CNW/ - Today, the Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario, the Honourable Patty Hajdu, announced that persons with disabilities will be able to apply for the new Canada Disability Benefit (CDB) as of June 20, 2025. First payments will begin in July 2025 for applications received and approved by June 30, 2025. Canadians will be able to apply through barrier-free, accessible ways: online, in person at a Service Canada office, or by phone. Persons with disabilities between the ages of 18 and 64 can apply for the benefit if they have qualified for the disability tax credit (DTC) and meet the benefit's other eligibility requirements, including having filed their 2024 income tax return with the Canada Revenue Agency. For those who have a spouse or common-law partner, their partner must also have filed their 2024 income tax return to be eligible. The federal government will send letters to eligible Canadians inviting them to apply. To support individuals with the application process, a number of community-based organizations across Canada will provide accessible, individualized navigation services to disability programs and benefits, including the DTC and CDB. Applicants can also now use the newly launched benefit estimator tool to find out how much they may qualify to receive each month. This new benefit reflects the federal government's commitment to improving financial security for Canadians living with disabilities. Quotes "With the Canada Disability Benefit application set to open on June 20, financial support will be delivered to working-age, low-income persons with disabilities starting next month. I want to extend my gratitude to disability advocates across the country who have worked tirelessly to help shape this historic benefit." – The Honourable Patty Hajdu, Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario "The Canada Disability Benefit is a critical step forward in our work to improve financial security for working age persons with disabilities. Too many Canadians continue to face barriers that limit their full participation in our society and economy. This benefit is about dignity, justice, and creating a more inclusive Canada — one where everyone has the chance to thrive." – Leslie Church, Parliamentary Secretary to the Secretaries of State for Labour, for Seniors, and for Children and Youth, and to the Minister of Jobs and Families (Persons with Disabilities) Quick facts The CDB is a cornerstone of the Government of Canada's Disability Inclusion Action Plan. With the first payments in July, the Canada Disability Benefit is being enshrined as part of Canada's social safety net. Budget 2024 committed to an investment of $6.1 billion over six years beginning in 2024-25, and $1.4 billion ongoing for the CDB, to provide a maximum of $2,400 per year to low-income persons with disabilities between the ages of 18 and 64. It is estimated that this benefit will increase the financial security of over 600,000 low-income persons with disabilities. In the spirit of "Nothing Without Us," the Government of Canada engaged with over 8,000 Canadians with disabilities, disability stakeholders, Indigenous governments and organizations, and provincial and territorial governments in the development of the benefit and will continue to seek their input for future improvements. Provinces and territories play a critical role in providing supports and services to Canadians with disabilities, and the government will continue to engage with them to understand how the CDB may interact with existing provincial and territorial income-tested programs, including disability programs and social assistance. Associated links Canada Disability Benefit Landmark Canada Disability Benefit legislation receives royal assent Disability tax credit Community-based disability benefits navigation services Canada's Disability Inclusion Action Plan ) SOURCE Employment and Social Development Canada
