The Decision To Live In An Apartment: Our Story And Experiences
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- เผยแพร่เมื่อ 14 เม.ย. 2023
- Throwing money away on rent or is it? The retirement strategy that is hard to accept by a lot of people. Listen to our retirement story and see if it makes any sense to you. Striving to live a stress free retirement.
Retirement is difficult, your life changes so much that we decided to go all in and make all the difficult retirement decisions all together the day we retired! #this_is_our_retirement #retirement #retireearly #normandtina #retirementlife #retirementplanning
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My 86-year-old mother owns her 2-story 4-bedroom colonial in a suburban community and has been there since 1971, when it was a new build. Now my dad is gone and she has significant mobility problems. The house and its large yard are too much for her, and we worry about falls. Senior independent living communities nearby have long wait lists and astronomical fees. It’s overwhelming for her. A two-bedroom apartment would be a good bridge for her from that large family home to potentially nursing care in the future, but I think she would balk at the idea of paying rent. She started her married life in an apartment 60 years ago and they always bought houses thereafter. The realization I’ve come to as I get older myself is that everything in this life is temporary-we can pretend that we ‘own’ stuff but in actuality everything is only on loan. We can’t take anything with us…and spending one’s last years in a rental property leaves fewer burdens on one’s survivors. Thanks for your perspective.
That’s exactly why I live in an apartment. My son is active duty Air Force. Why on earth would I leave him with the mess of coming from who knows where to sell a home and it’s belongings. I think that’s cruel. I’ve downsized to a small luxury apartment and love it.
100% true
Practically absolutely. However humans rarely think practically. There is a comfort staying in a home a person likes and is familiar with for the last couple of years of their lives. Yup falling is a risk, but that doesn't reduce in an apartment. And there are serious risks in assisted living anyone with a memory of covid will realize.
I've seen a few people over 80 forced moved from their home into assisted living by family "for their own good". The new environment depressed the elderly person, health quickly declined, and in less than 6 months were gone. Yes, maybe these people may have fallen and would have been in pain, unable to move for hours, even days, maybe even passed, but is that really worse?
I'm 66, healthy and moving from the US to SE Asia. One reason is to prepare for long term care if I'm lucky enough to live that long. Find a homes, get it organized. There I can afford live-in housekeeper ($100-200/mo) and even a live-in Registered Nurse ($500-800/mo).
@@MrWaterbugdesign I dream about an expatriate retirement too. For those fortunate enough to have the financial means and the physical vitality, it’s a great adventure. I lived abroad for 6 years in my 20s, in the prime of my health and energy. Even then having to navigate the bureaucracy of being a foreigner along with language and cultural barriers was very draining. The prospect of being elderly and alone needing medical assistance as a foreigner without a support network is pretty scary. My mother is not ready for assisted-living; mentally she’s firing on all cylinders and still drives and does her own errands and is active in her church. She does use a cane now and a mobility scooter in stores. She’s got a handicapped placard for her car. While a fall could certainly happen anywhere, The greatest likelihood of her falling is on her slippery stairs at home that she has to use to get to her bedroom and the shower. Her laundry machines and a half bath are on the first floor, but she does have to go up and downstairs at least a few times a day. She’s on various medications. The possibility of her having a potentially fatal or a bone breaking fall is significantly reduced if she wouldn’t have to navigate stairs. She’s had a grab bar installed in her bathroom shower but she’d be a lot more comfortable with a walk-in shower and no stairs. Her kids can only make suggestions; we can’t force her to do anything, nor is it our intention to do that. All indications are that she intends to never leave that house. As long as she’s compos mentis, that’s her call. The future is a bridge we will have to cross when it gets here. I would just urge everybody with adult children to communicate clearly with them about important paperwork and other things they will need to know when you become incapacitated or pass away. We do not know the details of my mother’s financial picture, will, insurances, wishes about heirlooms or her doctors. We want to respect her privacy, but if she required urgent nursing home care or died suddenly, we literally would not know where to begin with her affairs. There are four of us and believe me it’s not from lack of trying that we have scanty information. She refuses to discuss it. So we have stopped pressing about thinking about downsizing her home and have accepted that we are going to have to deal with everything when the time comes. The familiar is a haven from changes that are scary, but in terms of her physical daily life, her comfort and ability to navigate her home would be greatly increased If she would be willing to explore a new living situation.
The problem with moving from a home where you've lived for a long time is that you would also likely loose the connections and friendships you've developed over the years, which is an important social structure for quality of life. People become familiar with their local grocery store and employees, library, clinic, etc. My mother would be lost without those chats and those connections.
My wife and I have similar experiences. We sold a large home and went to live close to our daughter. Our original plan was to buy a house close to her and spend the rest of our lives there. A local apartment house was offering a special price in downtown Nashville. We thought it would be fun to stay there till we found a house. Five years later we’re still in an apartment and see no reason to change. Cheers to you all
Norm and Tina, I love your content! I am turning 60 this year and an older friend recently said to me "the 60's are go-go, the 70's are slow-go and the 80's are no-go". Your content addresses aging without all the fear. Thank you!
It’s ironic but I started out living in an apartment building such as yours for the first 8 years of my marriage. It was close to downtown Ottawa as well with swimming pool, exercise room , hot tub and store inside the building. I loved it ! Then we bought our first home which was a freehold townhouse, eventually bought a single house and now I found myself missing my old apartment with all the conveniences as I’m getting ready to retire;) this is the cycle of life , we live in a circle ⭕️ ❤
Funny how that can happen takes moving on to know what you then missed we hope you find a nice one for retirement Cheers 🙂🍷🌺
@@ThisIsOurRetirement 🙏🏻❤️
So true! We started in Ottawa also, moved to Toronto, after two homes we find ourselves looking more to the next phase. We have and do enjoy all the stages. It’s all about the mindset as we move through the seasons of life and what it can deal. Enjoy the journey ❤️
Its a disgrace that any first world country would financially force seniors to leave their homes through exorbitant property taxes. Absolutely disgusting.
Norm and Tina, I love your channel. I live on a 3rd floor, no elevator, condo. I had a stroke and am unable to do stairs. We live very close to my husband's work and the rents and apartments are $2,000-$3,500. My problem is my mortgage is very low and now having to retire before 60, my retirement is very low.I keep trying to find something to come available. You are blessed you are healthy.
I retired in 2022 and sold my house and am now renting an apartment. My motivation was getting rid of all the house responsibilities - shovelling snow, repairing things, etc. Like a huge weight off my shoulders. And I was able to sell at a market peak. I love my apartment and certainly appreciate your videos and advice over the past year.
That is wonderful we are so happy for you have a wonderful weekend Cheers 🍷🌺🙂🍺
Love being free from the whole house responsibility thing. My appointment is so easy to clean and keep up with.
Great video + information. We really appreciate the time you take to explain your insight and opinions. You both are truly amazing ! Wish you both a great day.
Thanks for comparing the two…renting vs owning. You gave me a few thoughts I didn’t realize before this vid. As always, thanks for this community. Looking forward to seeing you again this Saturday! Cheers!! 🍻
Two can live as cheaply as one! If one is single however, there is much less income for renting a nice place.
Thanks for watching Cheers 🌺🙂🍷
But if you have great income and great financial habits, and your partner is lazy and free-riding.... your freedom, independence and peace of mind are priceless!
Tina and Norm are lucky they have each other. Others end up wih gold diggers.
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A 😅i
Single for me looks a lot more flexible. Heck you can even sleep in a car if you want to or move to a smaller city or country without asking anyone else
@@last_samurai6690 Right! Being single, you are responsible for yourself. You are accountable to yourself only. You can work hard and make sacrifices knowing you're the only one who will be affected, good or bad. You don't have to worry about whether your partner will carry their own weight or will be willing to make the same sacrifices.
I agree 100%. I have owned many houses over the years and made the leap to apartment living 3 years before I retired. Downsizing was very eye opening and can be traumatic, so I always recommend to do that long before you are of senior/elderly in age. I love the uncomplicated, simple living of being in a smaller space. I have since moved to a small town where the rent is even cheaper. I have loved every moment and wouldn't turn back. Thanks for sharing and I agree with all of it. Hugs from Huntsville ON. 🇨🇦
Thank you both for sharing your experiences. There are many ways to retire and you found a solution that works for you. That’s what it’s all about.
Thanks for another great video sharing your perspectives. I have been watching your videos for a long time and just retired, sold the house, relocated closer to the kids and moved into a condo. Yes - Underground parking, no more snow shoveling. Leave for as long as we like and not worry about the house, the yard, etc. I went to the hardware store and saw all the dirt and lawn supplies on display and am glad I am not doing anymore landscaping projects. In our case we purchased a condo and have condo fees and taxes, but we also own the place. We are loving the condo/apartment life.
You guys come up with so many good points , really gets me thinking of what we are gonna do thanks for sharing .
Your apartment sounds very similar to mine. My husband and I downsized almost five years ago from a house to an apartment after our children moved out. We have never looked back. Best decision ever for all of the reasons you listed, particularly regarding cost containment. Everything except my electric is included in my rent except for my electric which is so low it's hardly worth mentioning. I'll never go back to home ownership. We've bought and sold 4 houses in our marriage, and we're not great at it. Now we can travel, let someone else fix the broken stuff, and live our lives.
This is one of the hardest decisions faced by retirees. In our case, the home is paid off and fairly inexpensive to live in, but we want the freedom to travel for longer durations. An apartment would be far more expensive, but allow us to not be concerned about an empty home that could have issues in the winter with heating and plumbing. First world problem, but a concern, none the less.
Have you done the numbers , when we did we were surprised at how little the difference was but we got so much more , pool underground parking , gym , no worries of unexpected maintenance and expenses hope you find your answer that works for you Cheers 🙂🌺🍷🍺
Another thing to consider is that the money obtained from selling the house can be used to generate income to help cover the cost of the monthly rent.
You can own a townhome for less than a house with no more exterior maintenance. But still have your own garage, patio, for storage. We have a house with live in for years with a driveway we have to shovel in winter which is a problem as we are getting older. But, I built a 2 bedroom plus office townhouse, 2.5 baths, with laundry room on bedroom level, 2 car garage attached. built it brand new and put my dream kitchen and huge master with 5 pc bath and huge walk in closet , bath, stone corner fireplace, beautiful Mountain views on a golf course bordering open space. I rent the town house now but plan to live in it soon. It has a 1000 sf basement with 9.5 ft ceilings. We can finish that basement and have 2700 sf. We can rent out our house or sell it. Right now we aren't ready to move. But, the townhouse is in a master planned community with grocery stores and recreation center within walking distance. It also has a beautiful pool, clubhouse, and many parks, 8 miles of hiking/biking trails. It is a special area and hard to find now. I would live in townhouse right now, but husband not ready to move yet. I have stayed friend with neighbors at the townhouse and go to Xmas parties. I like location of our home too.
Sounds like it’s in Tennessee! ?
@@RoxanneJ Canada
Great info. Thank you.
1. You are fortunate that you have rent control in Canada. Rent control is rare in America, for seniors or anyone else. Inflation has caused rent to increase, as well as other expenses. Last year, I received a notice that my apartment rent would increase by 15%. This makes it very difficult for everyone, especially seniors.
2. You have a great channel. I enjoy it.
Thanks so much Thomas!
#thomascunningham111 Yes, you are so right. I'm 71 and there are no apartments in my city with the amenities Norm and Tina have for the price they are paying in Canada. In my city, a 2-Bedroom, concrete-walled apartment, in a mid-rise complex (2-6 stories), with parking garage, washer/dryer in each individual apartment, AND BILLS PAID, with the excellent management and maintenance staff they have, start at $1964 per month, WITHOUT bills paid. Then they tack on extra fees for an assigned/covered parking space and trash disposal. So the equivalent in the US, once electricity bill and fees are added, comes to around $2,200+ for a 2-Bedroom. 1-Bedroom apartments in the US, with the amenities Norm and Tina have in Canada, start around $1500-1600 in my city, or more. And they are much higher in other cities in the US. And there is no rent control. In the US, seniors/retirees living in apartments are financially suffering and don't see a way out.
I live in Alberta and there's no rent control....very expensive to live in an apartment ...I wonder where Tina and Norm live so I could move there 😊
@@magda5820 I think that they live in Ontario.
The decision of renting vs owning depends on where you live and the cost of housing. I live in Southern California. I own my house which is a detached 1450 sq. ft. 3 bed/2 bath. I pay $1,600 a month for mortgage, taxes and insurance. My house will be paid off in 11 more years. A house this size in my community rents for almost $4,000. To rent a 3/2 high-density apartment in my area is at least $3,500.
My house in So Cal’s paid off, but we’d like to get out So Cal.
Calculating "cost to carry" is really a great way to make an evaluation. We did the same thing last year when we decided to sell our mountain vacation home and it was so eye opening. We sold one of our cars last week after examining the cost to carry on it as well. It's so easy to say "well, it's paid for" when you don't have a mortgage or car payment - we had to remind ourselves that there was more to it than that. Have a nice weekend!
Totally agree thanks for sharing Kris we just now have one car have a great weekend Cheers 🍷🌺🙂
Thanks for another thought provoking subject, and for sharing your personal experiences. You make some valid points about life and change, and cost/ convenience comparatives. Everyone has unique circumstances, granted, but there are also many common issues to consider as we retire and how our needs may change. I very much appreciate your perspectives, thank you for sharing.
Glad you enjoyed it Jeff have a wonderful weekend Cheers 🍷🌺🍺🌞
I am so glad you found something that works for you. Blessings to both of you and sending you rays of light. Blessings.
Thank you so much! 🌺
We bought an apartment 4 years ago to live in when we retire and sell out house. We love the apartment, and hate driving back to our house. I’m so sick of living in a house with all the upkeep and yard work, snow removal. I’ve always loved apartment living better than house living.
As always, interesting content and perspective. Your video has given us things to think about as we inch closer to retirement. Thanks for sharing 💛
Your very welcome glad you enjoyed it have a wonderful weekend Cheers 🍷🙂🌺🍺
Great to see you both even tho watched a few min ago. Enjoyed this mornings walk in Port Stanley than time for the Grand National. So happy you found your happy place and soon you will be off to your summer resort 😊 How does retirement get any better eh. We all deserve these retirement perks 🎉 Have a fantastic week ❤
Our pleasure! thanks for watching Fay glad you enjoyed your walk we went for a great one too earlier to enjoy this lovely Jamaica weather 🌞🌞have a great weekend Cheers 🍷🙂🌺
Thanks for sharing your experience Tina & Norm. Renting vs owning is a personal choice but those choose to rent can unlock huge amount of equity to fulfil their retirement goals for sure. Keep up the great work and enjoy the unusual warm April days.
Absolutely!! it’s is a choice but so glad we did it wow yes amazing warm weather which is lovely have a wonderful weekend Cheers 🙂🍷🌺
I wish you both all the best, you seem very happy and content with your life, very good points and a nice video.
I’m 46 and my husband is 50 and this was really insightful to me for us and my thoughts for my in-laws.
You bring up some really good points! Thanks for sharing! Those are some of the same things we would look for!
Thanks for watching! hope you both have a nice weekend it’s lovely and sunny here at the moment Cheers 🇺🇸🍷🌺🇨🇦
Happy Saturday Norm & Tina! Another great video. You are so right about the potential increases in property taxes. In the Greater Toronto Area, we know of seniors who have had to sell their homes because the property taxes have risen to a level they can no longer afford. The increases have happened because small older homes on their streets were bought by developers who tore them down and built huge homes. So sad that people can be forced out of their lifelong homes by development. We are keeping our eyes on that ball in our subdivision.
You are also right about the home maintenance aspect. We spent the winter in Portugal, living in apartments, small space living has won me over. Now that I’m home I’m resenting the amount of time that taking care of my 2500 sq ft house takes. Anyway, thanks for all your insights - so very valuable. Keep up the great work! So glad you’ve found such a fantastic place to live.
Very sad isn’t it what’s happening so glad you enjoyed Portugal 🇵🇹 agree living in an apartment far less up keep than a large house Cheers 🌺🍷🙂
I think you are fortunate to have these large rental apartments available. In my home town, south central BC, there is just nothing like that. Rents are expensive, very expensive, and most are owner rented so you could get evicted at any time. There is one new building where they rent apartments to seniors but they are small and pricey. It’s something that I would look into when I’m older.
At 66 we are thrilled to live in our own home. We are both active and fit and have built and renovated countless homes so we understand what can happen. With property taxes, utilities, hydro and gas our monthly cost is less than $600. We could not rent this house back for less than $3000 a month. We also have a dog….
When we go on holidays neighbours keep an eye on the house and shovel our driveway (excellent people) , the dog goes to a kennel and we shut the water off….never an isssue.
We just repainted and refloored, doing all the work ourselves! Certainly increased the home value and cost us very little. At some point we’ll have to leave but not yet!
Good on you for finding a solution that worked for you. I’m certainly not ready for that….yet.
It’s funny you say you aren’t ready for that yet ! we didn’t think we were till we did and so glad we did , the older you get the harder both physically and mentally it gets to sell the family home and downsize to the new chapter in your life as retired Cheers 🌺🍷🙂
The most detailed you,ve shared about apartment living. Very helpful, in what to look for. Nice to haves, what we should consider...
~ Ben, Vancouver ISLAND
Our pleasure! enjoy your weekend Ben Cheers 🍷🙂🌺🍺
Excellent information for serious consideration. ❤️your honesty! Enjoy the glorious weather! Thank you
Thank you! You too have a great weekend Dianne Cheers 🍷🙂🌺🌞
Norm and Tina, Thanks for the insights. I'm in California and it is such a central idea that one must buy a house, simply must. I have relocated out of Los Angeles and sold my house. As COVID came along just at the same time I made my move I rented an apartment. The social interaction and the repairs handled by people the landlady knew was more important than I had given any thought to. I'm glad you two are so articulate with these thoughts on life planning. I want to move to Portugal as I loved the time I've spent there. The "got to buy a house idea" is something I thought I would always follow, but maybe not so much after all.
Thanks for sharing Marianne, we too love visiting Portugal 🇵🇹 but like having our apartment to come back to ( best of both worlds ) and just travel to places but then come home Cheers 🍷🇵🇹🌺🙂🇨🇦
Thank you for sharing your story. My husband is nearing retirement age and although he’s a very handy guy, he says he’d love to rent and be freed from the responsibilities of home maintenance. I’ve begun to look at possibilities but the rental situation in BC is terrible. We also have a cat and so few buildings will accept pets. We’ve thought about moving to a different province but all our family is here, so that’s not a desirable option. It’s difficult to know what to do, so we remain in place.
Your building is really ideal, I agree and the pool seals the deal. In our town house taxes have just gone up 10.5% for 2023 so you're absolutely right about that. Lots to think about. Thanks for taking the time to make such a good video. Happy spring! Enjoy the travel trailer 🤸♀️🤸♂️🤹♂️
Your welcome glad you enjoyed it that’s a big increase in taxes ! have a wonderful weekend Cheers 🙂🍷🌺
My parents moved from their home after 40 years living in a house last spring, they are both in their 80's. Health issues started pushing them out of their home. So many plus's to their move! They are saving so much money in the apartment. Their utilities' alone are saving them a ton. We are in western Canada and the costs are astronomical for utilities ... insurance ... taxes ... food ETC. They are way less lonely, their apartment folks are very social and of similar age. Coffee groups, exercise days, Happy hour Fridays. My husband and I both learned that we wont be waiting as long as our parents did to move into an apartment.
Thank you Tina and Norm ... your retirement videos are so inspiring!
We did the same….husband’s health issues and we love it. We do not have garage parking but w/d. Plus garbage pick-up and we are close to amenities
I have lived in apartments then condos most of my adult life. Love this style of living. Your place looks so lovely in the background. Would love to see a tour in an upcoming video.
Thanks for the suggestion Linda have a wonderful weekend Cheers 🌺🍷🙂
I think the key to choosing an apartment for long term is something like rent control. Not many places in the US have it to protect you from potential large rent increases when your lease ends.
There is a lot of peace of mind about not worrying about damage to the house when you are gone over winter.
It’s good to see you all this weekend. 😀 great to listen to your priorities and sound reasoning.
Our pleasure! have a great week Cheers 🍷🌺🙂
Down to earth & practical information. One of your best videos. Thanks for the priceless information. Best wishes to you both.
Our pleasure! have a wonderful weekend Cheers 🙂🌺🍷🍺
This was a really great video - very interesting. Thoroughly enjoy your channel and look forward to your videos each week :-D
We took a middle ground approach - we paid cash for a condo. It's a nice, two-bedroom, two-bath place, with two balconies. It's a secure building, all utilities are included, there's a beautiful park-like courtyard, a small community garden, etc. The bookmobile from the public library comes twice a month. People are very nice and sociable. The property taxes are extremely low - around $45/month. We're currently renting it out because we're in a different state, taking care of my elderly mom. But while it was empty, we didn't worry about it like we would a home. We have good, trustworthy neighbors that have a key to our place and would check on things for us, but we really had no concerns. I feel like we have the best of all worlds.
I bought a retirement condo for my mother, she pays the condo fees and taxes so it doesn't cost me anything. She moved to a different community for older retirees that has one meal per day, housekeeping, a community bus, activites, etc. The fee also includes all utilites so she pays (autopays) one fee per month, done. It's a small 2BR 2BA and I have visited her (extended months-long visits because I live overseas) and it's quite good because we both have our own ensuite situation with the living room in between us. She is 88 and is still very independent and still drives. It's in a beach town (Myrtle Beach) and she is about 4 blocks to the beach. Lots of restaurants and other amenities, golf (she is not into golf, but some are), etc. I am super happy to have found this and will rent it out in case I decide to live there in my own retirement if I ever come back to the US...
@@erbiumfiber It sounds like you have a perfect set up!
Very relevant. We are facing that process.
Hope it helps Linda have a wonderful weekend Cheers 🙂🍷🌺
Excellent food for thought. The "cost to carry" is a factor so often overlooked. Thanks for another great video 😊.
Your very welcome Sonia have a wonderful weekend Cheers 🌺🍷🙂
Couldn’t agree more! My husband and I split our time between our cottage and a small 500sq ft apartment in the city. We get to enjoy lake time and city/family/friends/grandkids time. Don’t miss living in a house whatsoever! Cheers!
Wonderful we so agree Cheers 🍷🌺🙂
Great points!
Thank you have a wonderful weekend Cheers 🙂🍷🌺
Hello Tina and Norm! Highly informative video. I do not have much to say about apartment living as I always lived in houses for the past 70 years. I lived once for 3 mos. in an apartment because the builder did not finish the house as promised. I did not get used to it. Currently, I live in a 2300 sq feet home in a 55+ community. I pay an HOA in the high 300's. That covers the security guard services, a nice big club house with a lot of amenities and a large auditorium for events, grass cutting, shrub trimming, 18 bags of mulch per year and the outside painting of the house every 5 years at no cost. I think i will remain here while I physically can. If things change with my health, my next step would be a home for the elderly. That would be a whole different story. Until... All the best...
Thanks for sharing your experience with apartment living .
Lots of great info …. Your lucky to have found your forever home. If we ever decide to go that route it helps to know what to look for ! Thanks enjoy your week 😊small town USA 🇺🇸
Absolutely! thanks for watching Cinde have a great weekend Cheers 🇺🇸🍷🇨🇦🙂
Great video! Thank tou
Congrats on your great success of hitting it lucky with a great rent-controlled roomy apartment. The toughest maintenance for me (75) is climbing up the ladder and tying my safety rope on to the chimney and walking/crawling around the perimeter edge of the steep-sloped roof cleaning out the leaves from the eavestroughs. And then doing the same on my second house nearby (which is empty). Causes my knees and ankles to shake, and the heart to flutter! (always secure your ladder with a another string to the chimney as well, so the ladder doesn't blow down and leave you stranded.)
Can’t believe you are doing that at 75 ? can you not pay someone to do it Have a wonderful weekend Cheers 🍷🌺🙂🍺
Wow! What a wonderful, thought-provoking conversation about why a retiree might consider renting vs owning later in life. I'm a year or two from selling my 30+ year home and I thought I had it all figured out, but now I have a new angle to research - renting vs buying. I say that as a good thing. Much better to make informed thought through decisions vs what you'd always thought was normal. Thank you, once again for raising my awareness. Can't wait for the next video.
We are so glad you enjoyed our conversation Alice , we thought we had it all worked out till we met someone who told us about him and his wife living in an apartment, it changed our outlook for retirement too Cheers 🍷🙂🌺
Nice t-shirt Norm 👌😃
Another interesting video. Have a good weekend!
Thanks Honorata have a wonderful weekend Cheers 🍷🙂🌺
A couple of my friends are currently building their retirement dream homes, one on a lake in cottage country and another in the woods near a rural town. I really wonder what they will do when down the road they need more medical care or lose the freedom to drive. I’m in a bungalow in the city suburbs and I know it will eventually be more than I can manage. As for isolation, most days the only people I see are out my front window. You are very fortunate to have found such a lovely place at reasonable cost and to be near family and resources.
It does make you wonder doesn’t it 🤔Quincy , we are very happy with our decision have a wonderful weekend Cheers 🙂🍷🌺
You definitely got in at a good time as rents have gone up so much the past two years! And, if you can, as you have, find the right apartment it is a great option. Newer builds seem to be good and as you have found, a place with a lot of other retired or older tenants can be nice as well. Easy walk to amenities is important also.
Thanks for watching Karen we are fortunate that we got in at the right time and with rent control and utilities included it’s great . Being able to walk to a grocery store is great too Cheers 🍷🌺🙂
I thank you for this video. You have given us lots to think about. I appreciate your transparency. Another thing is that if you both had to go into a nursing home, you would not loose your home to the facility expenses. I have always worried about that. Thank you.
We think Kathy we would go down the route of paying for nursing help , care , meals on wheels etc coming to us have a wonderful weekend Cheers 🍷🙂🌺
Thanks for sharing your experience and suggestions. Your apartment sounds wonderful; you're living like royalty! Thanks for warning us about your wild parties! 😄 Carry on!
You are so welcome! have a great weekend Chris Cheers 🍷🙂🌺🍺
I look forward to your podcast each week! Have a great weekend.
Your very welcome Kristin have a wonderful weekend Cheers 🌺🙂🍷
You are so lucky you decided to rent when you did! A friend of mine moved into a Drewlo building right after they stopped including utilities, just a bit too late to be grandfathered in. Would you ever do an apartment tour of your place? I loved your trailer tour.
Thanks for the suggestion JoAnne , yes it’s great having utilities included especially with all the increases Cheers 🌺🙂🍷
Hi Tina and Norm. Had to tell you this! You had left a review on your train trip about eating pizza at SOCO restaurant in the Delta hotel in Toronto. My husband and I went to Toronto for a blue Jay game and rock of ages. We had pizza there both nights! It was amazing we had the pepperoni with honey yummmo! Who says you can’t eat dinner under $30. Thanks for the tip!!
Thoughtful info about a good housing situation but a few miles away just across the border it's pretty different :: not so many new, large, fully featured apartment buildings, no rent control, etc. The comparison costs of owning vs renting are not so heavily leaning towards renting so not so cut and dried. But you identified a lot of important criteria we that also sought for our housing solution. You guys put a lot of solid effort into your video's content.
Thanks Gary we are glad you enjoyed it have a wonderful weekend Cheers 🙂🍷🙂🍺
I loved living in condo when I was there. Favorite part was the heated/ultra lit underground parking and beautiful exercise room. I felt like I was cheating winter. Here is the bad part; it never happened to me but in places like Toronto, bed bugs and roaches are a major problem. You can never get rid of them. There are always tenants that help proliferate them. If anyone gets in that situation, moving is your only option.
This is an upscale rental building that is very well screened for incoming tenants. No horror stories here! enjoy your weekend Cheers 🍷🙂🌺
Quite a compelling picture. I think the point about just locking the door to go travelling is really crucial. Given your (and my intended) lifestyle.
We think so it really works for us.
It's nice to hear some love for apartment living. Like you, I've been retired 7 years. I'm single, I've always lived in an apartment but when I retired I was looking for a change and moved into a much bigger building with a gym and underground parking, and elevators. I don't have laundry in my unit, but we do have laundry facilities on every floor. I do wish I had a balcony, at least I have lots of windows including a 7 ft by 7 ft one in the living room which gives it a loft feeling. The maintenance people here are really wonderful, a couple years ago I asked if I could paint an accent wall in my place and they offered to do it for me at no extra cost. Still... at the risk of sounding boastful I have a good bit more in my retirement account than 7 years ago and I'm wondering if I should look for an even nicer place. I'm only one guy, I don't need a ton of stuff but still.. 🙄
It sounds like you have a really nice place too Doug, the balcony was important to us to be able to be outside and BBQ 🍗, laundry on your floor is good and really enjoy having elevators , doesn’t hurt to have a look around and if you think you might get more enjoyment take a look 👀 Cheers 🙂🍷🌺🍺
thx for sharing guys. As an empty nester, i dream of becoming unhinged from this money pit we call our house. Here in the Usa, rent control apartments arent the most desirable locations. So you guys did good.
It is a hard decision Michael to change from the money pit to living stress free in an apartment but so worth it , give it more thought we hope it works out for you Cheers 🇺🇸🍷🙂🌺🇨🇦
I like the idea and I may get to that stage eventually. For me, it will mean getting rid of a lot of stuff. Hobbies and such take up a lot of space in our basement at the moment and I have to deal with it. I think we'll move eventually but it will require letting go of stuff first.
Great video, and certainly food for thought!
Glad you enjoyed it! have a great weekend Dave Cheers 🍷🌺🍺
👍👍✌️ Your story sounds great. Looks like you have a fine home now. At this time and my area I’m happy here. I’m sure at some time I will need to follow your move. Good tips guys.
Sounds great! you will know when the time is right have a wonderful weekend Cheers 🌺🍷🙂🍺
Wow! I’m envious. 1200 square feet and all the amenities for a reasonable cost. I live and am attached to staying
in 14:51 downtown Toronto. Something similar would cost at least $3,000. I enjoy your Algarve videos. We just got back from a 5 week stay. Perfect weather this year.
So glad you enjoyed the Algarve, there are cheaper rentals just might have to move a bit out of downtown Toronto Margaret Cheers 🍷🌺🙂🌞
Great video - good info!
Your welcome guys thanks for watching have a wonderful weekend Cheers 🙂🌺🍷
I love you sharing your reasoning. I own my condo outright but taxes this year went up 12%, strata fees 15%, assessments for two new elevators plus condo insurance dramatically up but my pension 0%. So I’ve been doing the same calculations my only hold up is the lack of rental housing of your type in Vancouver. Since I am single & 74 I think I’ll hang in then go to assisted living.
Thanks for sharing Marjolaine have a wonderful weekend Cheers 🌺🍷🙂
Hello BRITTS! Viewing on new(refurbished) confuser!Much faster than the old one!CHEERS from wetcoast!!!
Thanks for dropping by have a wonderful weekend Darryl Cheers 🍷🌺🙂🇨🇦
I've had my fair share of home ownerships (sole owner) for 14 years from 4-plex apartment to luxury condo to acreage. Been renting since 2017 and loving it. I have huge income, single woman... I couldn't care for yard work, cutting grass and shoveling snow. It's also hard to deal with tradespeople as a woman. I love the freedom. I can call my landlord if the furnace needs fixing and it doesn't disrupt my own schedule. Plus I love the idea of being able to move/relocate if I want to.
I hope you're both well. Norm looked a bit under the weather this week. Maybe ready for another trip! x
Norm is fine thanks Linda , we are awaiting some medical results have a wonderful weekend Cheers 🍷🙂🌺
Firstly ..Top T shirt ! Secondly thanks for the video, I live on the south coast of the UK and in my mid 60’s. I have been thinking about moving from my village to an apartment in a neighbouring town for exactly the same reasons that you have voiced.Also although I am in good health I am looking at being within walking distance to a good doctors surgery.
Is the concrete box construction sound proof ? As I am a pink Floyd fan with a rather good Hi Fi system ….Great video ! Have now subscribed.
Agree with your decision. I too decided on apartment living in retirement and I love the freedom from home owner maintenance. Rent control is fabulous and better than property tax.👍
Very informative! Thanks, guys ! Stay healthy, stay safe, and enjoy the weekend !🤠🍷🍷🍓🍓🍫🍫
Glad you enjoyed it Phil have a wonderful weekend it’s really warm here Cheers 🇺🇸🍷🇨🇦🙂🍺
The latest news is that I am booked for Portugal October 1 til November 10, 2023. Whopeee.
Great enjoy!
You lucky, clever one
You're going to enjoy it. I just got back!
@@rebeccagutierrez1960 Where is Portugal did you go?
Have fun
We moved from France to Lisbon and rented for a year...Loved it!! But, with rents increasing we found a home that was bigger and our mortgage is half the price of the rent we were paying. So, you are right on all points, but for us rental price uncertainty was scary and a fixed mortgage was security! Luckily, my husband is a handyman and can repair all! So far, so good, but I understand not wanting the burden of maintenance and a stress free life as you age!! Portugal changed it all for us!!
We are so happy for you Tamara!
Happy weekend Tina & Norm 🏴 ☕️ 🇨🇦
Thanks for watching have a great weekend too Rachel Cheers 🏴☕️🌺🍷🙂
Great points, as usual!
Glad you think so!
I love this video! I'm 55 but my back hurts and I'm sick of taking care or our house, that's in the middle of 20 acres of woods, that is isolated. I'm not sure I'll drag my husband out of here, but we are looking for a small city condo to spend some time. Underground parking, elevator, etc.
Another great video. Now I am jealous, as we have very few areas with rent-controlled apartments. You two have a wonderful unit, quite large with so many nice amenities at a very reasonable price. Plus, I love the entire unit being concrete. That was always my dislike of apartments, being able to hear everything you neighbors did above, below or on the sides. I live in a single-family home just under 1000 sq ft, and the annual expenses are very low. When I moved in however, I did a lot of renovations to make the place to my standards. If there were units like yours available in nice locations it would definitely be a consideration, but I know of none.
Thanks for watching we don’t hear anything from other apartments and having rent control is a huge plus Cheers 🍷🌺🙂
Good job folks! Glad you are enjoying your decision to rent.
Thanks Bob!
Well done. Good luck.☘
Thank you and thanks for watching Cheers ☕️🌺🙂
The thing that would worry me the most about living in a flat is boredom. For the last few days it has been raining and I soon get cabin fever if I can't get outside to do gardening or other outside chores. I suppose there are alternative ways to keep busy though, such as voluntary work. I'm fortunate that here in Croatia there is no tax on owning a property.
Actually we are never bored we have You Tube , swimming in our indoor pool , gym , outside balcony , travelling, planning time at our summer trailer staying May 1st have a great weekend Cheers 🙂🍷🌺
The compromise, of course, is a condo, which I have. There clearly are pros and cons…largely the same as those associated with apartment living, but it’s a workable solution for those who want to minimise the burden of home ownership as one ages in place but still has the feeling that they remain ‘invested.’ I gripe about what I think are exorbitant fees and property taxes etc. but would likely pay considerably more in rent. It’s the Goldilocks scenario.
Thanks for sharing Murray you wanted some ownership and we wanted none LOL 😂😂have a wonderful weekend Cheers 🍷🙂🌺
Great info.....Cheers !!!!
Being in the 'right' property as we age is key. The fact you live in rent contolled property is a critical factor in your scenario.
Obviously it is a huge benefit Kevin and there are both Provinces in Canada 🇨🇦 and States in USA 🇺🇸 all with rent control to consider moving too Cheers 🍷🙂🌺🍺
It definitely sounds like a nice place, and it's the perfect place for you!
It really is! have a wonderful weekend Julie Cheers 🍷🙂🌺
I recently discussed the pros and cons of apartment living with two people in different stages of their lives. They had 'old fogey' type of ideas about apartment living. In the Netherlands one level housing isn't the norm. Two level, detached, semi detached or free standing homes being the norm. Yes, there are multiple apartment blocks for massive living in larger cities too. High rise living. Apartment living for pensioners or people wanting an easier and less maintenance living is still seen by many as what one does "when the end is near" so to speak. I know our decision to move to an apartment has influenced the thinking of friends and acquaintances of our age. Renting or purchasing is a personal issue depending on the country's situation. We purchased. Works better for us. Good to address this issue (again) in depth. Have a wonderful Sunday. Hoping spring is being kind to you both. Oh love the t-shirt Norm. 🇳🇿🙋♀🇳🇱💖👌🍷
Great comment Anita yes it takes some time to understand the major benefits of living in an apartment, contained costs, security, more freedom to name just a few we think 60 is the new 70 for selling a home and moving while you can cope with the change , as you get older it’s way harder to adapt. Have a great weekend and Spring is definitely here we have had a heatwave all week in the high 20° Cheers 🇳🇱🍷🌞🇨🇦🌺
Some Great Tips; your right not all landlords are the same. You got a good one there.
• concrete building. Many new apartment buildings are going wood. Yikes!
• living above 7th flr puts you above rescue capabilities of most Fire Depts.
• Washer Dryer, fantastic
• Appliances & own repair folk. Wow
You did good.
Appreciate it.
Our fire department can get to our floor with their ladder truck,we checked before signing the lease
We’ve been watching you both for a couple years in our planning toward retirement. Renting is best, esp in todays crazy house prices, inventory, and interest rates. The hidden phantom costs in ownership are huge to keep a property going and up to date. Currently in a home we are seriously looking at renting. Love your content and the recent train trip you did. Thanks!
Greetings from Australia, where we have also downsized from a large house to a modest apartment, for all the reasons you have mentioned. Like you, we love to travel and find the luxury of walking out and closing the door, one of the greatest benefits.
You mentioned the benefit of not being socially isolated- true, however, we find that we need to allocate extra time if we are going out, because we are bound to meet someone in the basement, and that’s never a quick escape. 😂
That’s too funny LOL 😂 Helen at least you are meeting others ! glad you are enjoying your apartment have a wonderful weekend Cheers 🇦🇺🍷🇨🇦🌺🙂🌞
Another thing to consider is that the money obtained from selling the house can be used to generate income to help cover the cost of the monthly rent.
Holy Mokey 950CAD/month for property tax!!!!!!!!!!!!!!!!!!!!!!! and we thought 2.5K GBP/year for council tax was high!! Thanks for the info Tina and Norm. Quite interesting...its food for thought. Part of us is reticent to give up the "busyness" that a house+garden offers, our beloved plants - gives us so much joy...and I will miss the mancave where i can anglegrind, saw and "do things" to my hearts content....Did you miss any of that Tina & Norm. Wish you both well and as always, thanks for your videos.
Your apartment sounds like a lovely place to live. My husband and I are going to be selling our large home now, and going to buy a small bungalow townhouse in a retirement area in Niagara (new build). They have snow removal, lawn cutting, pool, tennis courts, gym and social activities for a small fee. We get to do the social things we want to participate in. As you mentioned, isolation is not healthy as we age.
Sounds great Gail we wish you both all the best have a wonderful weekend Cheers 🍷🙂🌺