Monday, February 22, 2016

Retirees cash in big-city homes to fund their golden years

Retirees cash in big-city homes to fund their golden years


Judith Hunter has lots of friends near Collingwood, Ont. She loves photographing nature, and the town certainly has more of that than Toronto, where she lives now. And there are plenty of trails to walk her nine-year-old Yorkie, Asti. So after nearly five years of retirement, Ms. Hunter is packing up and moving to the Georgian Bay burg.


Many people downsize when they retire. But because she’s escaping the big-city real-estate market, Ms. Hunter is actually upsizing. She’s trading her condo for a bungalow.
“I don’t require that money to be part of my cash flow for living expenses,” says Ms. Hunter, who is in her early 60s. But in a house of her own, she continues, “I get to do all the ‘retirement activities’ you hear about.”


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