The Baby Boomers are aging and retiring, for the first time in history we have 6 living generations active on the planet, and heaven forbid you rush them into a home.  More and more of these retiring boomers living in the core of the city, in condos is where it’s at.

However as they age, and live longer and longer accessing the equity in their homes becomes a serious consideration to maintain their quality of life.  One trend that we’re beginning to see is these condo owners wanting to stay in their retirement condo but offering to sell the condo to investors and rent it back for numerous years.

This gives them access to their equity, a higher quality of life and gives the investor a fixed cash flow with build in increase, the equity build up of the condo over the course of several years.  Additionally long term tenants, especially ones who are emotionally invested in the property tend to take better care of the home.

Hope this helps you understand real estate a little better.

As always if you have any real estate questions ask them below, or contact us directly at 613-788-2113