As the population ages the big business of the future is “baby boomer” support. That includes health, financial & housing.
It’s hard to miss all the adult living homes being built & renovated in the Oshawa area. It’s a positioning war and a few players have a monopoly on this niche real estate venture. The time is coming and thousands of rooms will be offered to the residence of Durham Region.
It’s not cheap to live in one either. I guess they can afford it? On average the boomers should have plenty of equity in the homes they own. So are they starting to sell off?
Currently the house values are so high many people are deciding to sell before a bubble pops. They are taking advantage of the extremely high cost to buy and choosing to rent for the next few years before they commit to an adult community. By doing this they are selling at a high point and creating flexibility to secure the right adult home when the time is right. It’s also adds to the bank because the sale will provide you more funds.
The other trend is that they are going to continue living in a home they own but down size from the one they have to a smaller home in the next few years.
If searching for a bungalow for sale in Oshawa with no stairs, or a condo with an elevator… just let me know. I can provide you with all the MLS listings that fit your needs.