Downsizing

The Boomers

downsizingAs of July 1, 2012,” reported Statistics Canada in 2012, “the median age of the Canadian population was 40.0 years. That is, half of the population was older and half younger. In the past 20 years, that is between 1992 and 2012, the median age in Canada has increased by 6.4 years.n January 2011 the world ushered in the first of approximately 77 million Baby Boomers, born from 1946 through 1964 and are surging towards retirement.

The baby boom generation is the most influential population shaping Canada’s present economy. As Baby Boomers become senior citizens, the pressure of economic and social demands have begun to focus on the needs of the elderly and costs associated with an aging population who will require the need for health care and income security.

There is also alot of the “Baby Boomers ” who are also dealing with elderly parents and are having to make decisions about their parents, housing , health care and dispersement of belonging including real estate.

The selling of the family home and moving towards the next step of the downsizing decision is what faces many Sellers today.

There are lots of questions to address:

  • Should I sell or should I stay?
  • How do I plan a move like this?
  • Is condo living for me/us?
  • Where do I start?
  • Does it make sense financially?
  • Where do I want to live?
  • What do I do with my stufff?

When answering these questions there are several people who can help in this process..

Your Financial Planner

Whatever your situation,you can benefit from a thoughtful, independent review of your retirement plan . Should you buy or should you rent? What fits your financial plan?

Real Estate Agent

Unlike earlier generations of retirees, who paid off the mortgage and retired at the family homestead, today’s Baby Boomers are looking to capitalize on home equity to a smaller house or condo or relocating to an area or city where the cost of living is more affordable.

Many retirees suffer “sticker shock” when they look at new construction prices on condos and some to get the space they need actually have to pay more for the retirement home/condo than they get from their home sale.

Regardless of which strategy you choose, its important to be realistic about what your house may be worth when you retire. Although housing prices have escalated considerably during the past years, a variety of factors may cause them to level off or decline. It is important to be ahead of any correction in the market.

We can appraise your home and assess the market for you, allowing you to to start planning your move.

A Little Bit of Organizing can Ease the Pain of Down Sizing.

You are thinking about changing your life style. Sometimes it is a “new beginning”.

However Downsizing can also be overwhelming! The very thought of packing up a lifetime of memories can be so overwhelming that we become paralysed and choose to “stay right where we are” even though we know, in our hearts, that it’s time to simplify our lives and make a change. Change is not sometimes easy.

The key is to decide what your own time is worth and be realistic as to what you can do.

Some simple steps will help reduce your anxiety and make downsizing to your new home easier. We can turn what appears to be an insurmountable challenge into a manageable project and reduce the stress. 

What Will you Take With You?

Remember the phrase LESS IS MORE! Downsizing means that you are usually moving to a smaller space or different style of home. Ask yourself these questions: 

  • Do I really need this? Do I really want this?
  • Do I really need or want to remember this?Is it time to pass items along to the family and friends?

If the answer is “ no” to these questions, the item should not be moved to your new home. If you are unsure about an item, consider the following:

  • Donate them
  • Gift them to a friend or relative or friend.
  • Sell them
  • Recycle them
  • Store them in a storage locker until you are able to make the decision.

Remember that you are paying monthly fees on items that may not be what you will keep in the end. You are sometimes just putting off the “letting go”. This I know from my own experience. 

What Do I Do With This Stuff?

We all have things that we do not want to just discard or valuables that we no longer want. There are options that are available.

Sell Online

If you have the time this can be a route you may want to go for some items. I have found that sometimes items such as small appliances, golf clubs, computers (nothing very old however) have sold well. http://ottawa.kijiji.ca/

Sell, Or Sell On Consignment 

Some businesses will sell the items on consignment taking a commission on the selling price. Completing a commission contract can take time, because you will not be paid until all of the items are sold. Many antique shops will buy or take on consignment goods. Listed below are a few.

The White Monkey
613-321-4678
www.wintageretrofurnitureottawa.com

The White Monkey is the home of the grooviest collection of used vintage retro furniture in the Ottawa and Carleton region.They specialize in contemporary furnishings from the 1950’s, 1960’s and 1970’s but also art deco and vintage. The shop is a real fun mixture. Eevn old chairs that get refurbished look amazing . Lots of smalls , lamps and they have funky furniture, lounge and cocktail accouterment, barware, groovalicious sofas, hip chairs and delicious centerpieces for all senses of style.

Found Design
164 Elm Street
613-523-2205
www.founddesign.ca

Found Design is Ottawa’s source for excellent vintage modern design. From sleek, Scandinavian storage to extravagant, out of this world mid-century seating, you can find a great variety of furniture, lighting and smalls. (paintings, sculpture, prints, glass, pottery and metal work)

Donohue and Bousquet
613-232-5665
www.donohueandbousquet.com 

Silver bought, sold and appraised since 1971.

Auction Houses

Some auction houses will agree to buy outright any items that you may wish to sell. This option is appealing to many because the deal is completed in short order and while you may come away with less cash in your pocket you will not have to wait for your money Auction Houses: The good ones will come in and appraise what you are thinking of selling, let you know w hat to expect in value ( markets come and go for items) and will take away the items until the day of auction.

There are fees and terms attached to this. So read carefully I would highly recommend the following Auction House. Many of our clients have used him and he is a “real straight shooter” Browse his site I think you will find it helpful.

www.walkersauctions.com

House Cleanout Companies

Great for downsizing before or after a sale

If you are selling a family estate or just want to sell off all a large amount of items you might consider hiring a house clean out person. They do charge but they have a varity of services from hosting garage sales to disposing of all the unwanted goods. Offering a wide range of services such as estate sales, downsizing and home cleanouts, these services can be combined to custom-tailor the best solution that suits your needs.

Estate Matters
613-862-1921
www.estatemattersottawa.com

Owner Don Patterson, was the former owner of Bloomsbury Antiques of Ottawa, offers an experienced and discreet professional service. If the thought of disposing of a lifetime of accumulation overwhelms you, this is the gentleman to call.

Gifting and Donating

This may be a good time to gift any item(s) that you know have special significance to a family member, cherished friend, or an organization (e.g. museum). Gifts to some organizations may be eligible for a tax receipt as a charitable donation. There are many organizations who hold silent and live auctions as part of their fundraising activities. Musical instruments, art work, collectibles.

Local Charities that Might be of Interest:

Donate a Musical Instrument
www.leadingnotefoundation

Simply print out and complete the instrument donation form and take with the instrument to the Leading Note music store. Then they will have the instrument evaluated and send you a thank you letter along with an income tax receipt for the evaluated amount of the instrument.

Read about them: www.ottawacitizen.com/entertainment/Orkidstra+take/…/story.html

Inkjet Cartridges and old cell phones

Ottawa Food Bank
www.ottawafoodbbank.ca

Along with donations of food we also accept monetary donations and even recycled goods such as used inkjet cartridges and old cell phones. That extra can of soup, the change in your pocket, or your old cell phone could give a much-needed meal to somebody in Ottawa. Take a look through the different ways that you can help.

Clothing

Dress For Success – Ottawa Nation Capital Region
1339 Wellington Street West (corner of Ross Ave.)
Ottawa, ON
www.dressforsuccess.org
ottawa@dressforsuccess.org

“Our mission is to promote the economic independence of disadvantaged women by providing professional attire and the career development tools to help them thrive in work and life.” Go to the web site and go to locations and then dfs affiliates and under Ottawa there is a list of the items that are taken. Kids ,hats,.mittens and boots.

The Snowsuit
www.snowsuitfund.com

The Snowsuit Fund gratefully accepts donations of cash and knitted articles as well as gently used winter outerwear, hats, mitts and boots of all sizes. We endeavour to provide every eligible child with a brand new snowsuit. However, many of our clientele have older children in need of winter clothing, or the parents themselves are in need of a warm coat. Our good quality used items can help bridge that gap.

Computers and Electronincs

Computers and electronics recylces and reuses computers

http://www.compucorps.org/go to projects and click on Laptop reuse-they also provide a charitable receipt.

Canadian Diabetes Clothesline
http://www.diabetes.ca/

Clothesline® is here to help and our primary goal is to make donating as easy as possible. By visiting diabetes.ca/promise or calling 1-800-505-5525 , Canadians can schedule a free pick-up from the convenience of their home. We accept gently-used clothing donations, all cloth based items, footwear, books, toys, kitchenware, electronics and much more!

The Well
154 Somerset St. West
613-594-8861 x27
www.the-well.ca
info@the-well.ca

Located just off Elgin St at Somerset this amazing and much needed organization helps woman and families in need. They have a lot of amazing programs and run a nearly new store . They can take a variety of items from note cads, clothes, children’s play items to cd’s to filing cabinets. Check with them before you drop off.

LPs – Yep the vinyl ones!

Compact Music
206, Bank Street
Ottawa, ON
613-233-7626
compact@bellnet.ca

Call Ian Boyd. He now has half his store in vinyl and he will come and get them . Not always worth a lot of money but he is fair on his pricing and better than doing the internet which takes you forever – trust me I tried.

Useful Sites

  • www.recycleyourelectronics.ca
  • www.ottawa.ca/takeitbback
  • www.dowhatyoucan.ca
  • http://www.ottawa.ca/online_services/recycling/index_en.html

For Young Families

Young families always have lots of articles that are either not used, no longer used or grown out of. When you move to that larger home all the basics of staging and downsizing can come into play.

Here is a site that may be useful to you http://www.boomerangkids.ca/

Need cash today for your items? Or is consignment for you? The great thing about Boomerang Kids is – they do both!

They have 4 locations: Kanata, Orleans, Ottawa South and Westboro.