Most Baby Boomers Plan to Downsize within 5 Years

October 2014

Baby boomers are looking to simplify their lives and reduce costs by downsizing their home according to research from Harmony Village.

Their research has found that 60% of Ontario homeowners 50 years and older plan to downsize in the next five years.

Reasons for downsizing include cost of living,

reducing maintenance work and a desire to travel. A majority plan to use surplus cash to help finance retirement.

Nearly 50% of respondents would consider downsizing to a condo or apartment unit.


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