In the search for easier living, you might be thinking of buying an adult bungalow villa. An adult bungalow villa (or half duplex) is a great way to downsize to a bit smaller place, have all your main living amenities on the main floor and be part of a community that supports aging well together. These are not the easiest complexes to find while searching online, because they go by different names in the MLS system.
Many of my clients have been surprised by how many options are in their neighbourhood, because these often tend to be tucked into unsuspecting corners. Having your real estate professional experienced in working with these complexes will most certainly make your search easier. Let’s explore other considerations you should make when considering this style of living..
An adult bungalow villa might be right for you if you answer yes to these questions:
- Do you need the space of a bungalow, with a basement that you will use?
- Is having a deck or small garden area important to you?
- Do you need to get comfortable with a neighbour sharing one wall, verses a condo with many neighbours against you?
- You have a budget that allows for a higher purchase price than a traditional apartment condo?
- You want a sense of community?
Figure out Financing
You will need to figure out what financing model you will use for the purchase of your adult bungalow villa. This will determine a bit of your timeline and order to manage your move. Do you have the cash to purchase the adult bungalow without the sale of your present home? Then you could choose to purchase first, manage the move in at your own pace, and then sell your current home. Do you need to sell your current home first? Then you’ll need to explore bridge financing, line of credit, or selling your home first before purchase of an adult bungalow. Working with your bank or mortgage broker will help you understand all your options.
Begin Your Adult Bungalow Search
Find a real estate agent that understands 55+ options, accessibility for aging well, and works with condominiums frequently. As these complexes are often a bare-lands condominium, it important for you to have someone guide you through this purchase, especially if you’ve never lived in a condo before.
Things to consider as you plan what to search for…
- What type of parking do you require (double car, single car, or carport)?
- Do you need a finished basement or can you manage with an unfinished basement?
- Do you want a complex with a clubhouse or other amenity space?
- How many bedrooms on the main floor do you need?
- Do you need a bathtub or walk in shower on the main floor.
- What areas do you want live in?
When working with a real estate agent that has taken the time to understand your needs, the search will be easier to find the right home. Viewing a number of different complexes will help you understand what they each offer. Viewing options online in great, but you really need to do showings in the homes to get a sense of the space and layout you need. Start showings months in advance from when you are ready to move.
Preparing for Rightsizing
Before you are ready to move, you need to start reviewing what needs to move with you, and what needs to be sold, donated or disposed of. You could begin with joining my Downsizing Challenge over Edmonton55 website. In 6 months, with a small weekly challenge, bit by bit you’ll have each room in your home organized. For my clients, we work with estate services, online sale services and non-profit organizations to help you minimize the stuff you need to move to your next home. By doing some of this work before you sell your home, it actually makes your current home easier to sell. We want to be careful to keep appropriate furniture in each room, but by minimizing the stuff, you can make a plan for your new home and the sale of your current home.
Buying an Adult Bungalow
Together we will work through what happens first – the purchase of the adult bungalow or sale of your current home. This piece takes some skill to plan – as we want to minimize your moves and overlap of 2 properties. This process is different for everyone as we need to design a custom timeline and process for each client. Next we will create a purchase contract to purchase your adult bungalow and make an offer for it. Together we will work to negotiate favourable terms, conditions and pricing. I’ll walk you through the condition period and once the purchase is complete, I’ll be there to guide you through to the move.
Making the Move
Whether you need referrals to reputable moving companies, need someone to sell the final furniture in your home, someone to help you pack your years of belongings – I have great recommendations of companies to assist you every step of the way. You’ll want to be sure to start meeting your neighbours, as the ‘community’ is one of the biggest benefits of this style of living.
Living in an adult bungalow villa complex can be a great change of lifestyle for those looking to downsize, have less yard maintenance and yet still want the space a bungalow can give them. If you aren’t sure if this is the right living style for you or you want expert guidance to help you find the right community to call home, please connect with me – I’d love to hear more about your downsizing plans and how I can assist you!
Associate, REALTOR® / Schmidt Realty Group Inc.
