Over the past number of years I can’t tell you how many couples I have met, in their mid-late 50’s whose kids have either left home or are almost ready to leave home, who are out searching for smaller housing options. They have raised their family in their large homes but now wish to ideally find a bungalow that has been renovated to the kind of standards that reflect their position in life and standards which they expect now. They have the means, and understand that if they found the right product, it would most likely be a lateral financial move, depending on where their family home is located.
The challenge is, so many of the lovely couples I have met, currently have homes in NW Calgary with fantastic mountain views and are not willing to part with that view in their next home. I understand that completely and understand why that is a game breaker for sure.
Most of these couples are also not ready for condo or villa living as they still want a small yard and some sense of privacy or private space. If there were more (even any!) high end bungalow villa product choices in the NW that offerred large enough units with views and enough of a feeling of privacy or personal space, buyers would jump all over them. This is a very underserviced part of the market in my opinion.
So their quest comes back to finding higher end renovated single family detached bungalows (preferrably walk outs), in the NW quadrant of Calgary (as those are the buyers I generally am working with, who wish to stay in the NW), with West or Southwest backyards, that have some type of lovely view.
Thankfully, they do exist….albeit not many of them. But this year we have successfully found 3 homes for 3 downsizing buyers where they were thrilled with their new property enough to buy it and then they listed their family home with me and I was able to quickly and successfully sell it. In all 3 cases they were indeed lateral purchases, but it meant they moved into luxury, turnkey residences without doing any renos or giving up any of their important criteria.