Retirement living requires careful planning. As many people are choosing to work later in life you still have time in your 60’s to make critical decisions to ensure that you’re ready to retire comfortably.

According to a boomer survey conducted in the United Sates in 1996, a warmer climate was the deciding factor in finding a retirement home. Today, the most important consideration on where to retire is the cost of living.

The 18th Annual RBC Home Ownership Poll reported that older Canadians (55 and older) are looking to buy:

• Detached house (68%)
• Condo/loft (15%)
• Semi detached (5%)
• Townhouse (5%)

Finding the Right Adult Retirement Community

A variety of retirement communities are available to choose from. These can range from active lifestyle communities with access to golf courses, tennis facilities, bike paths and/or walking paths to communities with vibrant and ethnically diverse cultures.   

Whichever retirement lifestyle appeals to you, there are some similar steps that potential buyers need to address.

1. Decide on a Retirement Location:

The first step is to choose a location where to live. Many factors need to be considered. Climate and proximity to family and friends are often major factors.

2. Plan your Budget:

When planning your move, it is important to consider not only the cost of the home but any additional fees (i.e. community fees). You must also consider the cost of living in that area.

3. Prioritize your Needs and Wants:

What type of lifestyle do you want? i.e. golf, tennis, skiing, boating, arts.  It’s important to consider the surrounding area as well – does it have easy access to medical facilities, shopping and airports?

4. Identify and Visit your Favourite Communities:

Plan to visit your favourite communities and ask important questions about the area.

5. Explore the Area:

While Dining, Shopping and Recreational Facilities are important considerations; you may also need to consider your daily needs such as the locations of the Grocery Stores, Banks, Hospitals and Pharmacies.

There are many active adult communities in Canada. Mississauga, Ontario is a suburb of Toronto, Canada’s largest and most ethnically diverse city. Culture is thriving with several theatres, orchestras and art exhibits. Shopping is supreme - Square One is Ontario’s largest shopping mall. Mississauga offers advances infrastructure and transportation networks providing easy access to Toronto and neighbouring communities. It is also home to Toronto’s international airport.

Simply put, Mississauga offers city living in a suburban atmosphere. This makes Mississauga an ideal choice for many diverse families.