Perhaps you have raised your family and the house is now just too big for the two of you. The upkeep inside and out is taking up to much time or energy. The cost of replacing the roof, the furnace, and updating the kitchen is being balanced against spending that money on enriching like experience like travel.

One option is to move to a smaller detached house. If it is much newer than your larger older house, you may be surprised at the relatively large price tag. Remember that the newer house will not require the large financial outlay over time as the furnace, roof, kitchen and bathrooms will not require replacement any time soon. You can set your budget and not have to allow a substantial amount of money for upkeep.

Perhaps condo living has an appeal for you. In exchange for a maintenance fee, you will no longer have to find time for gardening or snow shoveling. If it is time to go south for six months, you can leave, knowing all is looked after.
Condominium apartments, town homes and bungalows are all available. Ballantrae Estates just to the east of Aurora is a good example of a community of beautiful bungalows. There are similar communities in Aliston, and Markham.
There are restrictions to living in these communities. Bylaws keep the streetscape of the development carefully preserved. Condominium townhomes and apartments are also carefree living choices.

If you or your spouse has health issues there are condominium developments that are attached to full service health clinics, with the option of nursing help available. Southdown Centre Blvd. in Markham and Hearthstone By the Bay ( www.HearthstoneBytheBay.com ) in Toronto are examples of this type of residence.

Perhaps your choice is to stay in your own home, but you find yourself house rich and cash poor. The value of your house has increased greatly over the years, but the revenue to fund all the costly repairs is not present in your retirement income. Be very careful about the reverse mortgages that are advertised on television. In the long run they can be incredibly costly. You could investigate them at www.chipadvisor.ca . Another option that might work out financially far better for you is to set up a line of credit against the house to complete your repairs. A talk with your banking specialist can outline this program for you.

Perhaps it is time to investigate retirement homes or assisted care facilities. If you are still unsure Click Here for a survey that will assist you in assessing if now is the time.

If you are certain that now is the time to start investigating retirement homes and assisted living facilities Click Here for a check list that will help you compare and select a facility that best suites your needs.