Where are you thinking of retiring? If you’re thinking of a small town versus the big city, you’re not alone. People are increasingly choosing to spend their retirement in small towns over urban centres. From July 2019 to July 2020, Toronto, Vancouver and Montreal all saw more people moving out versus into these cities.
In these small towns, typically recreational markets, its retirees composing a hefty chunk of who’s moving in and heating up the housing market in these areas. And they’re not looking merely for a recreational property; many are looking to live there all year.
In this article in the Globe & Mail, young retirees share their experience of trading in their city life for rural living, plus some insightful insights into how the rural market is trending (including how home prices will be impacted).