As we prepare to delve into the nuances of the current real estate landscape, I wanted to outline the context and key questions we aim to explore. I’m Scott and with a significant number of Baby Boomers entering retirement, many are considering selling their family homes and relocating from major urban centers. Unlike the traditional downsizing narrative, many are looking to resize their living arrangements, seeking new homes that better fit their current needs and lifestyle aspirations. Today I have Angela Higgins REALTOR Royal LePage NRC Realty out of St. Catherine’s. So given this backdrop, we are particularly interested in understanding the challenges and opportunities that arise for this demographic, especially in the context of the Niagara region’s real estate market, which has seen considerable changes in 2023 in this episode; Smartsizing to the Niagara: Navigating Opportunities and Challenges
Smartsizing to the Niagara: Navigating Opportunities and Challenges – Realtor Angela Higgins Royal LePage NRC Realty
Below are the questions I plan to ask during our Q&A session, focusing on the challenges and opportunities for Baby Boomers considering a move:
Transition Challenges:
1.What are the main obstacles Baby Boomers might face as they look to relocate from larger cities to smaller or different communities?
2.Niagara Region Opportunities: Can you elaborate on how the real estate market in the Niagara Region has developed and what opportunities it now offers for Boomers seeking to move there?
3.Lifestyle Adjustments: What types of lifestyle changes are typically necessary for those moving to a new community, such as the Niagara Region?
4.Housing Preferences: In the Niagara Region, which communities are most appealing to Boomers, and what types of housing (e.g., bungalows, townhouses, semi-detached houses, or condo apartments) are in demand? Can you also provide the current average prices for these housing options?
5.Associated Costs: Could you detail the taxes, monthly expenses, and other costs involved in purchasing a home in the Niagara Region?
6.Inventory Availability: Is there a sufficient inventory of the preferred types of homes for Boomers in Niagara? If so, what are the prime locations?
7.Market Volatility Impact: How have recent market fluctuations, including the effects of the pandemic, changing interest rates, and overall market dynamics, impacted Baby Boomers’ decisions to downsize or relocate?
