Nov. 9: BEST OF THE BLOGOSPHERE

November 9, 2026

Retirees ask `do I stay or do I go’ when it comes to housing

It’s a conversation that becomes more and more frequent as you move along through retirement – do I stay, or do I go?

We are talking, here, about housing. Should we carry on in the current family home, perhaps factoring in the need for future ramps and bathroom rails? Would it be cheaper to live in a rural setting versus an urban one? Do we downsize to somewhere on one floor with no yard to deal with and ideally no driveway to shovel? Do we rent, so as to say so long to property taxes and condo fees?

Sadaf Ashan reported on this issue recently for The Globe and Mail.

“It’s a question more Canadians will face as they approach retirement: Should you remain in your home? Cash out and move somewhere cheaper? Sell and rent? Or abandon Canadian winters altogether and retire abroad,” she writes.

Staying put, her article begins, can make sense for many.

“For homeowners who have paid off their mortgage, remaining in the family home might actually be more financially reasonable than it seems,” she reports. REMAX Twin City broker Faisal Susiwala tells the Globe that most longtime homeowners “have a mortgage-free home. They’re familiar with the area. It’s a stable neighbourhood. Their friends, their doctors, everything’s [nearby].”

Action will still likely need to be taken with the stay put option, the article continues.

“Susiwala says more clients are adapting their homes to age in place, for example, by adding ramps, widening doorways or installing main-floor showers,” Ashan reports.

What about going to the country?

“For homeowners in expensive markets, moving to a smaller community can unlock meaningful equity. It might even allow someone to retire sooner or free up money they can give to children or grandchildren,” writes Ashan.

But, her article warns, pay attention to more than just the lower price of rural homes – there are other costs to consider.

Tina Tehranchian of CI Assante Wealth Management tells the Globe that people should also factor in the costs of “property taxes, utilities, insurance, maintenance, transportation, health care and future caregiving costs.”

Savings gleaned from moving to a rural area “can shrink if the move also requires owning cars and regularly travelling for medical appointments. A large rural lot might mean spending more on snow removal, landscaping and maintenance,” the article notes.

Renting is another option retirees consider, the Globe article reports.

“For homeowners whose wealth is tied up in their property, selling their home and renting can produce the largest pool of liquid cash. That strategy can make financial sense when the proceeds from a home sale provide substantial capital that can be invested to generate retirement income,” states Tehranchian in the article.

However, Jason Heath of Objective Financial Partners tells the Globe, some “homeowners can be reluctant to part with their primary asset,” and sell their home in order to live in rental housing.

After all, he continues, “we’ve seen a generation of strong real estate price appreciation and that has made many seniors quite wealthy.” That makes some of them see renting – where there is no accumulation of wealth – seem like “a bad financial choice,” the article notes.

“Retirees that choose to rent must plan for rent increases over what could be a 25- or 30-year retirement. As well, a renter in a privately owned house or condo could eventually be displaced should the owner decide to sell or move in. For that reason, Heath says individuals wanting to rent in retirement might want to opt for a purpose-built apartment or retirement community offering greater long-term stability,” the article adds.

Alright then, what about moving out of Canada?

“Tehranchian says living abroad can indeed cost considerably less in some countries. But permanent relocation introduces another layer of financial planning involving tax residency, health insurance, exchange rates and estate planning,” the article notes.

“Retirement accounts may also be treated differently for non-residents, provincial health coverage can be affected by extended absences, and private international health insurance may become more costly with age. Someone earning retirement income in Canadian dollars but paying expenses in euros or another currency also assumes exchange-rate risk,” the article states.

Finally, the article notes, don’t forget that you may be retired for a very long time.

“Tehranchian points out that what looks like the best option at 65 `is not necessarily the most economical or practical option over an entire retirement,’” the article concludes.

We recently spent time with old friends who are into their 30^th year of retirement, after careers in education and healthcare.

Did you know that an option for members of the Saskatchewan Pension Plan, when it comes to turning savings into income, is a lifetime monthly annuity payment?

No matter how long you live this payment will continue, and depending on what option you select. SPP’s Pension Guide covers all annuity options in more detail.

With SPP, you provide the savings, and we provide the investment savvy. Your savings dollars are professionally invested in our low-cost, pooled and diversified funds until it’s time to turn in your ID badge and head for the exit from work.

Check out SPP today!

Join the Wealthcare Revolution – follow SPP on Facebook!

The Globe and Mail

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