Work, Retire, Buy?

Heather Gunn
Apr 1, 2023
5 min read

Updated: Apr 3, 2023

Did you know, in addition to a number of roles in Account Management, Sales, and even Retail Management (looking at you "The Telephone Booth") one of my last "real" jobs before becoming self-employed as a real estate agent was at a retirement home? Specifically, I was what Revera called a "Lifestyle Co-ordinator" (that's just jargon for saying I leased out suites.)

That job was actually a lot of fun, I worked with some great people there. It also ended up being one of the most useful work experiences I had in relation to Real Estate.

Every day I would meet with families struggling with finding appropriate housing for a loved one. Often times they wanted to stay in their single-family detached home, but it just wasn't set up in a way that

accommodated their loved one's changing needs.

The retirement home I worked in wasn't a luxury residence by any stretch of the imagination. In fact, we had one of the most challenging locations in London, in my opinion. Located at Wellington and Horton Street, kitty-corner to the Salvation Army and across from the Tim Hortons with the best drive-through ads in town.

I'll be honest, my expectations going into this job were NOT high. And I think that many families felt the same way. There was guilt associated with encouraging their loved ones to check our suites out. There was hesitation about making the call that "it was time"... like it was giving up.

But my perspective quickly changed. What I found was that after settling in even the most skeptical resident started to really enjoy their lifestyle there. And the more involved they were in the decision-making the more they enjoyed being there, even when it seemed a little "too soon" to move to retirement. Quickly, feelings of isolation got lost in a sense of community. Frustrations became independence. Their families enjoyed visiting because their visits could be spent socializing instead of helping to tackle a growing list of chores that were looming in the home.

When I started working in Real Estate, this experience helped me consult families at all stages of the transitions of life. From empty nesters downsizing to a condo to free up their weekends to enjoy their hobbies, to people with physical limitations prioritizing a one-floor home, to families dealing with grief and managing an estate including real estate assets- I've worked with hundreds of families in London and beyond. There is an art to guiding people through these moments. Moments that can be filled with nostalgia, sadness, excitement, guilt, overwhelm, and so many more emotions. During my time in the retirement industry, I toured most of the retirement communities in London so if you want a recommendation of where to start I'm happy to make some suggestions.

Several years ago, I decided to take my skillset to the next level and completed the SRES (Senior Real Estate Specialist) course to better assist my clients. If you want information about that- check it out here.

Last year my mom retired (WAY TO GO MOM), and believe it or not I actually encouraged her to get OUT of an attached bungalow condo and into a detached home.

Hear me out. She was living in a lovely condo she had renovated over the years in Oakridge, with a full basement that she didn't use other than for laundry and storage. She loves the beach, painting/art, and being involved socially in her community. She's always wanted a hot tub and likes to garden but doesn't want to spend her whole weekend maintaining a yard. We found the PERFECT home for her in Port Stanley that's brand new, has plenty of natural light, no stairs, a double car garage, and a yard perfect for a patio to host friends for an evening cocktail and with enough space for her hot tub. She's got a great network of friends there and ALWAYS has something going on. She started painting again and is walking on the beach year-round. This move has added years to her life and she's enjoying every minute of retirement.

The most important thing I can do to assist someone who is in a life transition is just to listen and learn as much as I can. I may ask what your hobbies are, what you do on the weekends, if walking to a local coffee shop appeals to you, or if you would rather have a variety of grocery stores nearby. These are as or more important as how many bedrooms and do you prefer hardwood or tile in the kitchen. How you interact with your home and your community will fundamentally change your routine and lifestyle.

If you or someone you know is thinking about downsizing here are a few tips to keep in mind:

Always be editing your belongings. Even if you live in a 2500-square-foot home with a full basement you can store everything you've ever owned in. You never know when an opportunity may arise or your life could change. Take it from someone who has moved 4 times in 8 years.

You only want to move things that hold value to you. And if something stays stashed in a box for 10 years never seeing the light of day- it's hard to appreciate the value. I have incredible contacts that can help you get started. The good news is the skillset of editing your belongings gets easier the more you do it. You will be surprised how much lighter you feel once you get going- and how much easier it'll make your decision-making around moving. You might not think it's the "stuff" holding you back, but often subconsciously- it does.

Spend time in any community you are considering living in. See if they have any events planned. Shop there, check out the restaurant scene, and strike up a conversation. Remember, your community is the most important thing, especially once you reach retirement. Your daily routine changes dramatically when you stop working, and you should carefully consider what you want to fill your day with. Consider the proximity to the things you want/need to do most often. If, like my mom, being close to the water gives you joy- make that a priority in your search. You may have to be flexible about other things like being open to changing your dentist or moving to a town/area with fewer grocery options to satisfy the bigger lifestyle goals.

The people who are happiest when downsizing do it when it's a "want to do" not a "must do". When people wait until they have serious mobility concerns, health challenges, or financial pressures to make a decision it's much harder and they are typically less satisfied at the end of the day. Downsizing is not a negative thing, you don't owe it to anyone (even your children) to stay in your "family home" or to keep the memories alive at the expense of your quality of life. If you want to spend more time golfing and traveling on the weekends instead of keeping up with the pool/yard that's MORE THAN a good enough reason. Life is too short, spend it doing the things that you love and in a community that energizes you.

Being the executor of an estate is a big job. If part of that estate includes real estate, find a realtor who is experienced in this area. They will be able to help guide you in what you should (and shouldn't) do to maximize the sale price while minimizing your stress. I have contacts to help you sort and dispose of belongings, make repairs if needed, and a marketing plan that's customized for this type of sale. As someone who has been through this before personally and dozens of times professionally, I can help.

I hope this is useful if you have questions or need assistance in any of life's transitions- I'm here to help. Get in touch with me today for a no-pressure real estate consultation.