Keep These Things in Mind when Downsizing

Downsizing in CanmoreDownsizing can be a great way to make a positive change in your lifestyle, shifting toward a lower maintenance home or making space in your budget for new adventures. There are many benefits to downsizing, and many people hoping to relocate to Canmore full time find that downsizing is the ideal way to make their dreams reality.

If you are on the hunt for homes for sale in Canmore that will make your plans come to fruition, we can help. Contact us any time to get started.

Here are some things to keep in mind as you prepare to downsize.

List Your Must-Haves

Before you begin to look at active listings in Canmore or begin viewing potential new homes, make a list of your must-haves. Downsizing in size does not mean sacrificing everything you want in a home. In every home shopping process, you will benefit from a list of non-negotiable features you are looking for in a home, as well as a wish list of features you would like to see or features that you'd like to have the opportunity to add to the home. 

This list will help you efficiently decide which properties make the cut. If you are not sure where to start, ask yourself these questions to get the ideas flowing:

  • How many bedrooms and bathrooms do I need?
  • How close do I want to be to downtown Canmore, Banff National Park, or another landmark in the area?
  • Do I plan to host overnight guests or entertain in this home?
  • What kind of outdoor space do I want? How much seasonal maintenance do I want to take on?
  • Do I need something move-in ready, or am I up for the challenge of a fixer upper?

Remember Your Why

Another helpful thing to write down is your motivation for downsizing. There are many possible reasons you may want to downsize, so identifying your reason, or reasons, and getting them on paper will help you stay focused and motivated as you make important decisions. 

You may be motivated by the appeal of less time being spent on housework and maintenance, the way a smaller home will free up more room in your budget for a new hobby or different career path, or the way downsizing will set you up for retirement success as you grow older. Whatever your "why," keep it in mind to guide your decision-making journey. 

Consider the Timing

The timing of your downsizing is important. Not only do you want to know why you want to downsize, but take time to consider when you want to downsize. Knowing your "why" will help you determine your "when."

Many people find that they anticipate wanting to downsize in the next few years, but are not ready to move to the smaller home or new location just yet. This might be in anticipation of a career change, expecting to send your last child off and out of the household, retirement, or any other big life change. 

If you expect that you will want to downsize in a few years, you may still want to consider investing in the new property now. Talk with a lender and find out what your financing options are to own both your current home and something smaller in Canmore in the meantime.

Get Creative

If you decide to purchase a property in Canmore before you are ready to move into it full time, there are some ways to get creative about making this a lucrative investment. One of the most popular ways to fund a real estate purchase in Canmore is leveraging the property as a vacation rental when it is not in personal use. In many cases, the profit from a short term rental business in Canmore will more than pay for the property, allowing you to diversify your streams of income while you wait to move into the home as your primary residence. 

To learn more about finding the property that is the best fit for you in Canmore, contact us any time.

85 Properties
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$593,040
Neighbourhood: Bow Valley Trail
1
Beds
1
Baths
615
Sq.Ft.
2009
Year Built
1
Day on Site
A2022389
MLS®
This is your opportunity to invest in the most desirable sector of Canmore's real estate market. Currently generating lucrative revenue stream on AirBnB. Open concept, one bedroom suite captures the...
$1,050,000
Neighbourhood: South Canmore
3
Beds
2F11/2
Baths
1,056
Sq.Ft.
1997
Year Built
1
Day on Site
A2021985
MLS®

https://www.youtube.com/watch?v=tQxh1pCR2FA&t=1s Remarkably renovated in a coveted South Canmore location, this 3 bedroom townhome boasts incredible mountain modern design and high quality...
$1,575,000
Neighbourhood: Eagle Terrace
3
Beds
3F11/2
Baths
2,247
Sq.Ft.
2003
Year Built
2
Days on Site
A2021813
MLS®
In Eagle Terrace situated on the ridge overlooking a wood reserve, this 4-level end unit townhouse on the sunny side of the magnificent bow valley has 3 bedrooms and 3.5 bathrooms. On the main level...
$3,385,000
Neighbourhood: Eagle Terrace
4
Beds
3
Baths
2,556
Sq.Ft.
2004
Year Built
2
Days on Site
A2021923
MLS®
Masterfully designed home on a spectacular Eagle Point lot. Perched high above on a massive and private lot, this property was designed by Loren Harms and built by one of Canmore's most reputable...
$868,000
Neighbourhood: Town Centre_Canmore
2
Beds
2
Baths
909
Sq.Ft.
2000
Year Built
3
Days on Site
A2022151
MLS®
This turn key fully furnished spacious condo features an open floor plan spread over 900 sqft. It boasts panoramic views of the three sisters mountain range while overlooking the quaint and iconic...
$1,319,000
Neighbourhood: Cougar Creek
4
Beds
2F11/2
Baths
2,013
Sq.Ft.
2002
Year Built
4
Days on Site
A2021874
MLS®
Amazing single family home on sunny side of the valley. Beautifully kept up four bedroom property in a family friendly neighbourhood with lots of outdoor space and garage. The entryway welcomes you...
$577,395
Neighbourhood: Bow Valley Trail
1
Beds
1
Baths
602
Sq.Ft.
2008
Year Built
5
Days on Site
A2021380
MLS®
UNOBSTRUCTED MOUNTAIN VIEWS. This well appointed one bedroom, one bathroom unit in Silver Creek Lodge is south facing and features fantastic views of Three Sisters, Ha Ling peak and Rundle Mountain...
$1,299,000
Neighbourhood: South Canmore
3
Beds
3
Baths
1,747
Sq.Ft.
2008
Year Built
6
Days on Site
A2021581
MLS®
South Canmore fourplex built by Elk Run Custom Homes. Quality built three bedroom and three bathroom property with timeless mountain architecture. Street side orientation with amazing mountain views...
$2,451,000
Neighbourhood: South Canmore
4
Beds
3F11/2
Baths
2,933
Sq.Ft.
2022
Year Built
6
Days on Site
A2019948
MLS®
The majesty of the Canadian Rockies is reflected in the timeless mountain design of this spacious luxury South Canmore duplex. Quality craftsmanship and attention to detail are evident throughout...
$155,400
Neighbourhood: Bow Valley Trail
2
Beds
2
Baths
762
Sq.Ft.
2008
Year Built
6
Days on Site
A2021742
MLS®
Welcome to your affordable vacation home. If you love to visit Canmore but hate paying Canmore hotel prices this purchase is for you! Own your very own 1/4 share of paradise. With this purchase you...
$565,000
Neighbourhood: Cougar Creek
2
Beds
2
Baths
854
Sq.Ft.
1997
Year Built
6
Days on Site
A2021708
MLS®
Cougar Creek apartment with stunning views. Two bedroom, two bathroom property with fabulous views and plenty of sun. The entryway welcomes you into an open concept kitchen, dining and spacious...
$1,095,125
Neighbourhood: Three Sisters
2
Beds
1
Baths
1,537
Sq.Ft.
2023
Year Built
9
Days on Site
A2019147
MLS®
Situated in the Three Sisters Mountain Village, The Hortus is a complex of nine exclusive sophisticated one level condos offering floor to ceiling windows that capture the most spectacular mountain...

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