Downsizing without leaving your property? City releases draft proposals for coach houses

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The ability to have coach houses in Ottawa is one step closer. This is great news for real estate investors but be sure to participate in the process. In other cities in the country, the renting of coach houses was only lawful if the main house (or vice versa) was owner occupied. This is still a great mortgage helper, conducive to downsizing, and beneficial for extended families. Downsizing is seen as a good option for retirement, especially if the homeowners want to stay in their own homes, but find that their own home is either too big or not affordable anymore. Some homeowners may seek to release the equity on their mortgage in order to finance their retirement this may include a new home. There are many resources available detailing the equity release process and how it could be useful when homeowners are looking at retirement plans. This could help their families prepare for their future from retirement and beyond. A big part of any retirement plan is ensuring that all possiblities are covered in the future. In some cases the equity from their home could lead to them buying another property for their families. Many families around the world find that downsizing to a rental themselves whilst renting out their owned property can be a great solution, with many turning to Estate Agents Coventry abroad for the task, and perhaps this model could be viewed as an alternative option. If you are in the United States, downsizing your property is seen as a way of celebrating that your children have grown up. Some people find that downsizing is more cost-effective and more comfortable to manage. If you are interested in checking out some smaller properties, there are places similar to Https://www.essexhomes.net/charlotte/ that allow you to, or you can visit your local real estate agent to learn more.

By Joanne Laucius, Ottawa Citizen

http://ottawacitizen.com/news/local-news/downsizing-without-leaving-your-property-city-releases-draft-proposals-for-coach-houses

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