Having a will and a power of attorney is important. But in today's digital world, is it enough?

There was a time when getting your affairs in order meant having two important documents in place: a Will and a Power of Attorney.

And while both remain essential, our lives have become considerably more complicated.

Think about it. We now have online banking, investment accounts, automatic bill payments, subscriptions, email accounts, social media profiles, cloud storage, two-factor authentication and facial recognition. So much of our financial and personal lives exists behind passwords, security questions and digital access points.

And here's the problem: having a Will doesn't necessarily mean your family knows where everything is, what accounts exist or how to access the information they need.

This is something I've become increasingly aware of through my work as a Downsizing Specialist, helping clients prepare for their next chapter, navigate estate sales and manage the many details that come with a major life transition.

There is a gap between having the legal documents in place and having the practical information your family actually needs.

And it's a gap worth addressing.

A personal experience that brought this home

My mother-in-law passed away about 10 years ago. We recently received a phone call from a bank regarding an account that was still open.

An account we didn't even know existed.

Ten years later!

It was a reminder that even when families have done their best to organize everything, things can get missed. Accounts can be forgotten, automatic payments can continue and important information can remain undiscovered for years.

Now imagine trying to piece all of this together while grieving the loss of someone you love.

It's difficult enough to lose a family member. Having to become a detective, track down financial institutions, search through paperwork and figure out which accounts exist adds another layer of stress at an already emotional time.

And it's not just about money.

Our digital lives need a plan, too

Consider what happens to someone's online presence after they pass away.

What happens to their Facebook account? Their email? Their online photo albums? Their subscriptions?

Have you ever seen a friend request pop up from someone who passed away years ago? It's a strange and sometimes upsetting reminder that their digital presence is still out there.

Facebook, for example, allows accounts to be memorialized or, in some circumstances, permanently deleted. But someone needs to know the account exists and understand what the person's wishes were.

The same applies to online banking, utilities, insurance, investment accounts and recurring subscriptions.

Without a central record, family members may not even know where to begin.

Introducing the Peace of Mind Spreadsheet

This is why I encourage people to create what I call the Peace of Mind Spreadsheet.

It doesn't need to be complicated. In fact, the simpler, the better.

Think of it as a practical companion to your Will and Power of Attorney. A central place to record the information your trusted family members or representatives may need when you're no longer able to provide it yourself.

Some of the information worth including:

1. Financial Accounts

• Banks and financial institutions

• Chequing and savings accounts

• Investment accounts and financial advisors

• Credit cards and lines of credit

• Mortgages and other outstanding debts

• Pension and retirement income details

2. Household Expenses and Automatic Payments

• Utilities, property taxes and insurance

• Mortgage or strata payments

• Internet, telephone and cable

• Streaming services and subscriptions

• Automatic withdrawals and recurring payments

3. Digital Access and Online Accounts

• Primary email addresses

• Password manager and instructions for emergency access

• Online banking and investment account details

• Social media accounts and preferences

• Photo storage and cloud accounts

• Websites, memberships and subscriptions

4. Important Contacts

• Lawyer and notary

• Accountant

• Financial advisor

• Insurance broker

• Mortgage specialist

• Trusted family members or friends

5. Personal Wishes and Instructions

• Preferences for social media accounts

• What should happen to digital photos and personal files

• Important documents and where they are stored

• Who should be contacted

• Personal wishes and instructions outside of the will (pets and family heirlooms)

• Any other instructions that would make things easier for your family

Where should you keep it?

Your Peace of Mind Spreadsheet should be stored somewhere secure and accessible to the person you've designated to help. The important thing is that someone knows where to look and how to take the next step.

It should accompany your estate planning documents, not replace them.

Make sure your executor or trusted representative knows where to find it and understands how to access it if needed.

And perhaps most importantly, update it regularly.

A good rule of thumb is to review it once a year, or whenever you make a significant financial or personal change.

New bank account? Update it.

Changed email address? Update it.

Switched financial advisors? Update it.

It's a small task that can make an enormous difference later.

Remember, access to accounts after someone passes away is also subject to the institution's requirements, privacy rules and estate administration process. Having the information organized doesn't bypass those requirements, but it can make the process considerably easier.

A little organization today can make a big difference tomorrow

One of the things I see repeatedly in my work with downsizing clients and families managing an estate is just how much information is scattered throughout a home and across people's lives.

Important documents tucked into filing cabinets. Old bank statements in desk drawers. Insurance policies in binders. Accounts that haven't been looked at in years.

And then there are the things nobody thinks to ask about until it's too late.

Getting organized isn't always about decluttering a closet or deciding what furniture to keep. Sometimes it's about making sure the people we love aren't left trying to piece together the details of our lives during one of the most difficult periods they'll experience.

We spend so much time planning for retirement, travel, our next home and the next chapter of our lives.

Let's also spend a little time making things easier for the people who may one day need to take care of the details for us.

Because having a Will is important. Having a Power of Attorney is important.

But making sure your family knows where everything is, what exists and how to find it?

That's a gift of love.

And it's one of the simplest, most thoughtful things you can do.

A LITTLE HELP TO GET STARTED

I've created a Peace of Mind Spreadsheet to help you organize the important financial, household, digital and personal information that your family may need.

Access the FREE, downloadable Peace Of Mind worksheet HERE

You don't have to tackle everything in one afternoon. Start with what you know, personalize it for your needs, fill in the gaps as you go and make it part of your annual review.

A little preparation today can provide a whole lot of peace of mind tomorrow.

Because downsizing and planning for your next chapter isn't just about making life easier for yourself. It's also about making things easier for the people you love.

Shelley Hird
Downsizing Specialist and North Shore REALTOR®
www.thedownsizingspecialist.com

You’ve found the home you love. But what happens if you haven’t sold the one you’re living in? Here’s what North Shore homeowners need to know about buying first, selling first, and making an offer subject to the sale of your home.

There’s a question I hear from homeowners who are thinking about making a move, and it’s a bit of a chicken-and-egg situation.

Do you sell your home first and then find somewhere to go? Or do you find the home you love and hope everything falls into place on the selling side?

A few years ago, this decision was a whole lot easier.

During the strong seller’s market we experienced for several years, I could almost promise my clients that, with the right pricing and preparation, we would have their detached home sold within ten days. Buyers were competing for limited inventory, homes were moving quickly, and coordinating a sale with a purchase was often much more straightforward.

But markets change. And right now, the equation looks quite different.

First, let's talk about the market we're in

In a buyer's market, like we are in today, there are generally more homes available relative to the number of buyers. Buyers have more choice, sellers face more competition, and selling a home can take longer than it did during those busy market years.

What matters most when planning your move is understanding that you may not be able to predict exactly when your home will sell or precisely what a buyer will be willing to pay.

And that uncertainty is what makes the buy-first-or-sell-first decision so important.

Option 1: Sell your home first

This is often the more financially conservative approach.

You put your home on the market, negotiate a sale, and establish how much money you have to work with before committing to your next property.

The biggest advantage? Certainty.

You know your sale price, your closing date and, broadly speaking, your available equity. That gives you a much clearer budget when shopping for your next home.

You can make an offer without needing to sell another property first, which can put you in a stronger negotiating position. Sellers may be more receptive to an offer with fewer conditions, and you can often be more flexible about closing dates.

There is a trade-off, though.

What happens if your home sells before you find the right place to go?

You might need temporary accommodation, somewhere to store your belongings, or a plan for a short-term rental. You may have to move twice, which adds cost and inconvenience.

And there is another challenge: once your home is sold, you may feel pressure to find your next property before your closing date.

For some people, that works perfectly. For others, especially those who have lived in the same home for decades, the thought of selling before knowing where they are going can feel unsettling.

This is where planning your next chapter before putting your home on the market becomes so important.

Option 2: Buy your next home first

Let's say you've found the perfect condo, townhouse or smaller home. It checks all the boxes, and you can genuinely picture yourself living there.

You don't want to lose it while waiting for your current home to sell.

So, you buy first.

The obvious advantage is that you know where you're going. You can focus on preparing your existing home for sale without worrying about finding somewhere to live at the same time.

But there is a significant financial consideration.

You are committing to the purchase before knowing exactly when your current home will sell or how much you will receive for it.

If you have sufficient savings, accessible equity, bridge financing or other financial resources, buying first may be a reasonable strategy. You still need to understand the costs and risks of carrying two properties, potentially including two mortgages, property taxes, insurance and maintenance.

But if your next purchase depends on the proceeds from your existing home, buying first can be a much bigger gamble.

What if your home takes three months to sell? What if the offers come in lower than you expected? What if you need to reduce your asking price to attract a buyer?

You may find yourself in a position where you have committed to a purchase at one price but are receiving less than anticipated for your sale.

That gap has to be funded somehow.

Buying first can work beautifully when the finances are in place and the risks are understood. It becomes much more stressful when the plan relies on everything going exactly as expected.

Option 3: Find the home you love and make an offer subject to the sale of your property

This is where the chicken-and-egg dilemma gets interesting.

A subject-to-sale offer is a conditional offer to purchase a property that gives the buyer a specified period to sell their existing home. The exact wording matters, and the condition needs to be carefully drafted to reflect the buyer's circumstances.

Essentially, you are telling the seller:

I want to buy your home, but I need to sell mine first.

It can be an attractive solution because you can secure a property you love without immediately committing to an unconditional purchase.

However, there are some important caveats.

First, the seller has to agree

This is a point worth understanding before you start house hunting with the expectation that a subject-to-sale offer will be an option.

A seller is under no obligation to accept an offer subject to the sale of your home.

In today's market, we are sometimes seeing a domino effect of subject-to-sale transactions. One homeowner wants to buy a property, but their purchase depends on selling their own home. The seller of that property may also be buying somewhere else, and their purchase may depend on selling their home, too.

You can see how quickly the timing becomes complicated.

If the seller needs the certainty of an unconditional sale, or needs their own sale proceeds to complete their next purchase, they may simply not be in a position to accept your offer.

Even if your offer is attractive in other respects, your condition introduces another layer of uncertainty into an already complicated chain of transactions.

This doesn't mean subject-to-sale offers are off the table. It means you need to understand the seller's circumstances, the timing involved and whether your offer can realistically work for everyone.

And even if a seller is willing to consider your offer, the terms, price and deadlines will matter.

The pros

1. You know where you're going.

You have found a property that suits your needs and made an offer. If the conditions are satisfied and the transaction proceeds, you have a clear destination for your next chapter.

For someone downsizing, this can be especially helpful. You can start thinking about furniture, floor plans, storage and how you want to live in your new space.

2. You have time to sell your current home.

Rather than committing to a purchase that depends on a future sale, your offer can provide a defined period in which to sell your existing property.

That said, the time frame needs to be realistic. If you need more time, an extension may be possible, but the seller is not necessarily obligated to agree.

The cons

1. Your offer may be less attractive to the seller.

Put yourself in the seller's shoes.

They have a home to sell, and along comes a buyer who wants to purchase it, provided they can sell another property first.

Compare that with a buyer who is financially ready, has fewer conditions and can offer a closing date that works for the seller.

Which offer would you prefer?

A subject-to-sale offer introduces uncertainty for the seller. They may need to wait while your home is marketed, shown and negotiated, without knowing whether the transaction will ultimately proceed.

As a result, you may have less negotiating power on price or other terms. The seller may simply choose a competing offer with fewer conditions.

That doesn't mean subject-to-sale offers are impossible. It means the terms, price and circumstances need to make sense for everyone involved.

2. You have a deadline to sell your home.

Your purchase agreement will specify a period for satisfying the sale condition.

That deadline can create pressure, particularly in a slower market. If your home isn't selling as quickly as expected, you may have to consider a price adjustment, negotiate an extension or decide whether you can proceed without the sale.

This is why pricing your home realistically from the beginning and understanding your financial limits are so important.

3. You may not get the price you were expecting.

This is one of the biggest risks I see in the current market.

You may have an idea of what your home is worth based on past sales, previous market conditions or what a neighbour received a few years ago. But the market today may tell a different story.

If you have already negotiated the purchase of your next property, receiving less than expected for your current home can leave you with a financial gap.

You can certainly explore renegotiating your purchase, but the seller is not required to reduce the price simply because your sale proceeds were lower than anticipated.

Before making an offer, you need to know what happens if your home sells for less than you hoped.

The 72-hour clause: the detail you really need to understand

This is where things can become particularly stressful.

A subject-to-sale agreement may include what is commonly called a 72-hour clause, although the actual time period and wording can vary.

Here's how it generally works.

You've made an offer on a home, subject to selling your existing property. The seller accepts your offer, and you begin preparing your home for sale.

Then another buyer comes along and makes an offer that the seller wants to accept.

If the agreement contains an applicable time clause, the seller may be able to require you to act within the specified period. Depending on the wording, you may need to remove your sale condition or otherwise decide whether to proceed, even if your own home hasn't sold.

If you cannot or choose not to proceed on the required terms, the agreement may allow the seller to terminate the contract in accordance with the clause.

Imagine what that could look like.

You've spent weeks decluttering, arranging repairs, preparing your home for photographs, hosting showings and keeping everything looking presentable. You've mentally moved into your next home, perhaps even started planning where the sofa will go.

Then you receive notice that another buyer has made an offer.

Suddenly, you have a very short window to decide whether you can proceed with your purchase without having sold your current home.

That is not a decision you want to make under pressure without having considered the financial implications beforehand.

A 72-hour clause does not automatically mean you have 72 hours to sell your home. It generally concerns your response to the seller's competing offer, according to the specific contract wording. The details matter, so make sure you understand the condition before signing.

And remember, a subject-to-sale offer doesn't guarantee that you'll get to purchase the property. You need to be comfortable with that possibility before committing to the process.

Are you ready to list tomorrow?

Here's something I encourage my clients to think about long before they start house hunting.

If the perfect property came on the market tomorrow, would you be ready to put your home up for sale?

It's an important question, particularly if you're planning to make an offer subject to the sale of your existing home.

If your offer is accepted, you need to be in a position to get your home on the market as quickly as possible. You can't necessarily spend the next three months sorting through the garage, deciding what to do with the spare bedroom or finally getting around to painting the kitchen.

The clock may already be ticking.

I see this with downsizers who have been talking about moving for years. They've thought about the condo, imagined the lock-and-leave lifestyle, and perhaps even spent a few weekends browsing listings. But the house itself? That's another story.

The same applies to growing families who have outgrown their current home and are waiting for that elusive property with the extra bedroom, bigger yard or perfect neighbourhood.

It's easy to wait until you find the right property before preparing your current home for sale. But in today's market, that approach can put you on the back foot.

Start preparing before you're ready to move

You don't need to put your home on the market tomorrow. But if a move is somewhere on your horizon, there are things you can do now to make the eventual transition much easier.

• Start decluttering. You don't need to tackle the entire house in one weekend. Start with a closet, the spare room or those boxes that haven't been opened since your last move. If you're downsizing, remember that everything you don't need to take with you is one less thing to deal with later.

• Address the small repairs. Fix the loose handles, touch up the paint, replace tired light fixtures or attend to the little maintenance jobs you've been putting off. Small improvements can make a difference to how your home presents, and getting them done ahead of time gives you more flexibility.

• Think strategically about renovations. Not every home needs a renovation before selling. In fact, some projects won't deliver enough return to justify the cost. But if your kitchen, bathrooms or flooring are looking dated, it's worth discussing your options before you're working against a deadline.

• Get a realistic picture of your home's value. Understanding what your property might sell for, how it compares with competing listings and what buyers are looking for helps you make informed decisions about your next purchase.

• Have a plan for the practical details. Who will help with decluttering? What needs to be repaired? Will you need staging, professional cleaning or help coordinating contractors? Knowing who to call can save valuable time when an opportunity arises.

You don't have to do everything at once

This isn't about creating pressure to move before you're ready. It's about giving yourself options.

If you're thinking about downsizing in the next year or two, starting early means you can make decisions thoughtfully rather than rushing through them under the pressure of an accepted offer.

And if you're looking to upsize, the same principle applies. Getting your existing home ready before you find the next one means you can act more confidently when the right property appears.

The goal is to be prepared enough that when the right opportunity comes along, you can focus on the decision itself, rather than scrambling to get your life and your house ready for sale.

Because finding the right property is only half the equation. Being ready to make the move is the other half.

So, what's the best strategy in today's market?

The honest answer is that it depends on your circumstances.

There isn't a single right approach for everyone, and I wouldn't recommend one without first understanding your financial position, your timeline and what you are hoping to achieve with your move.

Here are a few questions I would want to work through with you before making that decision:

• How much financial flexibility do you have? Could you carry two properties temporarily if necessary, or do you need the proceeds from your current home to complete your purchase?

• How quickly does your current home need to sell? A property that is priced appropriately and compares favourably with competing listings may have a very different outlook from one that needs significant preparation or is competing with many similar listings.

• How specific are your needs for the next home? If you're looking for something very particular, selling first may mean having to wait for the right property to come along.

• How comfortable are you with uncertainty? Some people are happy to manage temporary accommodation or carry additional costs. Others value the security of knowing their sale is complete before moving forward.

• What happens if things don't go according to plan? This is perhaps the most important question of all. You need a Plan B before you need one.

The goal isn't simply to buy or sell in the right order. It's to create a strategy that works for your finances, your lifestyle and your peace of mind.

My advice? Start with the plan, not the property.

When someone tells me they're thinking about downsizing or moving to their next home, I don't believe the first question should be, "When do you want to list?"

I'd rather start by understanding what they want their next chapter to look like.

Where do they want to live? What kind of home will suit them? What do they need financially from the sale? What needs to happen before their current home is ready for the market? And what would make the transition feel manageable rather than overwhelming?

Once we understand those pieces, we can work backwards and decide whether selling first, buying first or exploring a subject-to-sale offer makes the most sense.

Sometimes the best strategy is to sell first and shop with confidence. Sometimes buying first is entirely achievable. And sometimes a subject-to-sale offer is worth exploring, provided the terms and risks are understood.

But preparation isn't just about getting the house ready to sell. It's about getting your whole moving plan ready.

That means understanding your finances, having a realistic view of what your home may sell for, preparing your property, knowing your options for the next home and having a practical plan for timing. It also means considering what you'll do if your home sells for less than expected, takes longer to sell or the property you've set your heart on doesn't work out.

You want to make decisions based on a realistic plan, not on the assumption that everything will fall into place.

There are pros and cons to all three approaches, but one thing is certain: you don't want to be making these decisions for the first time when you're standing in the middle of a negotiation.

A little preparation now can make an enormous difference later.

If you're considering a move on the North Shore, after reading this article your head is spinning, and you aren't sure how to coordinate the sale of your current home with the purchase of your next one, I'm always happy to help you explore your options.

As The Downsizing Specialist, my approach is about helping you connect all the pieces, from figuring out where you want to go to planning how to get there.

Because moving isn't just about selling one property and buying another. It's about making sure the transition works for you.

And ideally, without the chicken-and-egg headache along the way.

Shelley Hird is a North Shore Realtor® and The Downsizing Specialist, helping homeowners navigate the practical and personal decisions involved in moving to their next chapter.

For many North Shore homeowners, decades of real estate appreciation have created extraordinary wealth. But when that wealth is tied up in the family home, what does it mean for retirement?

There is a particular kind of wealth that has become increasingly familiar on Vancouver's North Shore.

It belongs to the couple who bought their detached home decades ago, raised their children there and gradually paid down the mortgage. Over the years, the neighbourhood changed, property values climbed and the family home became worth considerably more than they ever imagined.

Today, their house might be worth $2.2 million.

They may have substantial equity, a paid-off mortgage or very little debt. By conventional measures, they are wealthy.

Yet their day-to-day retirement income may still come primarily from pensions, government benefits, registered retirement savings and other investments.

Their wealth is visible from the street. Their financial flexibility is a different question.

A nation of homeowners with significant wealth tied to property

Housing has long played an important role in building Canadian household wealth.

According to Statistics Canada's 2023 data, principal residences represented 38% of the total value of Canadian assets. The same year's Survey of Financial Security found that Canadian families whose main income earner was 65 or older had a median net worth of $1,109,700.

In British Columbia, median family net worth was $773,500, compared with $519,700 nationally.

These figures help establish the financial importance of property ownership, but they don't tell the whole story. Net worth includes more than home equity, and the proportion of wealth held in real estate varies considerably between households.

Still, the national picture raises an important question: how does a lifetime of housing wealth translate into financial security during retirement?

On the North Shore, this question has a distinctly local dimension.

Two decades of appreciation have changed the equation

Greater Vancouver REALTORS’ MLS Home Price Index recorded a North Vancouver detached-home benchmark of $753,600 in May 2006. By January 2026, that benchmark had reached $2,037,600, an approximate nominal increase of 170%.

This comparison illustrates the scale of long-term price appreciation in the local market.

For homeowners who purchased decades ago, however, years of mortgage repayment and rising property values may have created substantial equity.

Consider a hypothetical household whose detached home is now worth $2.2 million, with $200,000 remaining on the mortgage.

Their home equity is approximately $2 million.

That is an extraordinary asset. But it is not the same as having $2 million in an investment account.

The home does not automatically provide monthly income, pay for a new roof or cover an unexpected expense. To access that wealth, the homeowner needs to make a deliberate decision about whether to sell, borrow against the property or pursue another financial strategy.

This is where the distinction between being wealthy and having financial flexibility becomes important.

When your biggest asset doesn't pay the bills

Some homeowners have ample pensions and investments and have no need to touch their home equity. For them, staying may be the obvious choice.

Others may be managing their spending carefully, postponing travel or worrying about future maintenance costs despite holding considerable wealth in their property.

Two households with equally valuable homes can have very different retirement experiences. One may have a substantial investment portfolio and a reliable pension. The other may depend largely on government benefits, modest retirement savings and the equity in the family home.

The question is not simply how much a house is worth. It is how that wealth fits into the owner's overall financial circumstances.

A home can provide stability, security and a valuable financial reserve. But if a large proportion of a household's wealth is concentrated in property, it can also limit the amount of capital readily available for other purposes.

The hidden cost of staying in the family home

A detached home is more than a mortgage payment.

There are property taxes, insurance, utilities, repairs, exterior maintenance, landscaping and the inevitable larger expenses that arrive with an aging property. There is also the time and energy required to keep everything running.

For some retirees, maintaining a large home and garden remains a pleasure. For others, it gradually becomes an obligation.

Rooms that once accommodated a growing family may rarely be used. Stairs may become less convenient. The roof, windows or exterior may need substantial investment. Managing contractors and routine maintenance can become more tiring than it once was.

None of this means that a large home is inherently inappropriate for retirement. It simply means that the full cost of staying includes more than the value of the property.

It includes the money spent maintaining it, the time devoted to it and the freedom it may or may not provide.

Property taxes: a change worth understanding

There is another practical consideration for some retirees: property tax deferment.

In British Columbia, eligible homeowners aged 55 and older can apply to defer their annual property taxes through a provincial loan program. For years, this has provided a way for homeowners to remain in their homes while preserving their monthly cash flow.

However, the program's economics have changed significantly in 2026.

Under the previous rules, the interest rate for the regular deferment program was set at prime minus two percentage points, with simple interest. For new deferrals in 2026 and subsequent years, the rate has changed to prime plus two percentage points, with interest compounded monthly.

As of October 1, 2026, the rate is 6.45% annually, compared with the previous rate of 2.45% for amounts deferred under the earlier terms. That's an increase of four percentage points, or more than double the previous rate. The rate is subject to quarterly changes.

This doesn't mean property tax deferment is no longer worthwhile. For some homeowners, preserving cash flow may still be more important than the interest cost, and the program may remain a useful option. But it does mean the decision deserves a fresh look rather than being treated as an automatic annual choice.

In my work with retirees on the North Shore, property tax deferment is one of the practical strategies that comes up in conversations about staying in the family home. With the new interest terms, it is increasingly important for homeowners to understand what their deferred balance may cost over time and to compare that with their other financial options.

For someone sitting on substantial home equity but relying on a relatively modest retirement income, this brings us back to the bigger question: is the home still supporting the retirement they want, or are they increasingly relying on borrowing against an asset simply to maintain their current lifestyle?

The opportunity cost of doing nothing

What might become possible if a homeowner chose to access some of their equity?

Selling a large detached home and purchasing a less expensive property could potentially release capital, reduce maintenance responsibilities and simplify everyday life.

For one person, that might mean travelling more. For another, it could mean having money available for unexpected expenses, helping family members or simply feeling more comfortable about the years ahead.

The financial outcome depends on the details. Selling costs, moving expenses, property taxes where applicable, the cost of the replacement home, strata fees, investment considerations and individual tax circumstances all need to be assessed.

Moving to a condominium, for example, may reduce some maintenance responsibilities while introducing strata fees and other costs. A smaller property is not automatically less expensive in every respect.

There may also be ways to improve financial flexibility without selling, depending on the homeowner's circumstances and willingness to consider alternatives.

The point is not that moving is always the better financial decision. It is that the decision deserves to be explored rather than made by default.

Why moving is rarely just a financial decision

If the financial argument for moving were the only consideration, more people might make the change.

But homes are not ordinary assets.

They hold decades of memories, familiar routines and a sense of belonging. They represent the place where children grew up, family celebrations happened and neighbours became friends.

Leaving can feel like losing a part of one's identity. There may also be understandable concerns about finding a suitable replacement, giving up a garden, dealing with strata rules or moving into a market where smaller properties are still expensive.

For many homeowners, staying is a deeply considered choice. For others, the idea of moving feels so overwhelming that they postpone exploring it altogether.

These are very different situations, and they deserve to be treated that way.

A question worth asking before circumstances make the decision

Perhaps the most useful time to consider a move is not when a health concern, an expensive repair or a change in circumstances makes it urgent.

It is when there is still time to explore the options.

That might mean comparing the true cost of staying with the cost of a different property, speaking with a financial planner, considering accessibility or simply asking what the next 10 or 15 years should look like.

For some people, the conclusion will be to stay exactly where they are.

For others, it may be that a different home could release capital, reduce responsibilities and create more room for the experiences they have spent decades working towards.

Neither decision is universally right.

But there is value in making it consciously, with a clear understanding of the financial and lifestyle implications.

For North Shore homeowners who have accumulated significant equity over many years, the question may no longer be simply, "What is my home worth?"

It may be, "What do I want this wealth to make possible?"

Because a home can be a wonderful place to live, a valuable financial asset and an important part of a family's story.

The opportunity is to make sure it continues to support the life its owners want to lead.

Shelley Hird
Downsizing Specialist and North Shore REALTOR®
www.thedownsizingspecialist.com

• Statistics Canada — Survey of Financial Security, 2023: Read the release. The source for median net worth by age and household characteristics.

• Statistics Canada — The assets, debts and net worth of Canadian families, 2023: Read the statistical summary. The source for the Canadian and British Columbia median net-worth figures.

• Greater Vancouver REALTORS — MLS HPI Home Price Comparison: Explore historical benchmark prices. The source for the May 2006 North Vancouver detached benchmark.

• Greater Vancouver REALTORS — North Vancouver market report: View the January 2026 report. The source for the January 2026 benchmark price.

What if we stopped thinking about retirement as something that lasts 25 or 30 years…
…and started thinking about it as a series of different chapters?

Because the reality is, 60 and 80 are not the same.
And that matters when we're deciding what to do with our homes, our money, our time and our plans for the future.

The 12-Year Window

I recently started thinking about what has been called the 12-Year Retirement Window.
Not because there is a magical statistical cutoff at age 72.

There isn't.

But retirement research consistently points to a pattern often described as the “go-go, slow-go and no-go” years.
The early years of retirement tend to be the most active.
This is when people are more likely to travel, pursue hobbies, visit family, take longer trips, renovate, explore new interests and finally do some of the things they've been putting off while working.

As the years progress, activity and spending tend to decline.
Not necessarily because people stop wanting to do things.
Sometimes, it's because their health, energy, mobility or circumstances change.

Statistics Canada data illustrates the broader reality of aging. In 2023, 49.3% of Canadians aged 50–64 reported their health as very good or excellent. Among Canadians 65 and older, that figure was 40.5%.

Of course, plenty of 75-year-olds are travelling the world, skiing, hiking and living incredibly active lives.
And plenty of 62-year-olds aren't.

Age is not a deadline.

But it is a variable worth planning around.
And that's why I think the first decade or so of retirement deserves more attention.

What if you planned around your healthiest years?

Think about the things you say you want to do someday.
Travel more.
Spend winters somewhere warm.
Take the big trip.
Visit your kids wherever they are.
Spend more time with your grandchildren.
Learn to sail.
Play golf.
Cycle through Europe.
Buy a little place somewhere you love.
Take three months and just live somewhere different.
Spend more time with your partner.
Maybe simply wake up on a Tuesday morning and think:
“What do we feel like doing today?”

These are the things retirement is supposed to give us time for.
But here's the catch.

Having the money isn't enough.

You need the health.
You need the energy.
You need the freedom.
And you need the time.

Your house can either support that freedom or compete with it

This is where I think downsizing enters the conversation in a very different way.
For many people, their home is their largest asset.
And for good reason, they don't want to give it up.
They've spent decades building equity.

But sometimes we spend so much time protecting the house that we forget to ask what the house is supposed to be doing for us.

A large family home can require a tremendous amount of time and money.
There is maintenance.
There are repairs.
There is landscaping.
There are property taxes.
There are utilities.
There are renovations.
There is cleaning.
And there is simply the mental load of having a large property to look after.

Maybe that's exactly what you want.
But what if it isn't?

What if selling that home at 58, 60 or 62 could release significant equity and reduce your ongoing expenses?

What if moving into something smaller and easier to maintain meant you could retire a little earlier?

What if the money you weren't spending on the house could instead fund the things you've been dreaming about?

And what if the time you weren't spending maintaining the house could be spent living?

There is something else we don't talk about enough

Who are you planning to enjoy those years with?

Because if you're part of a couple, retirement isn't just about your individual health.
It's about the two of you.
Maybe your dream is to travel together.
Maybe you've spent 30 years working toward the same goal.
Maybe you've imagined finally having time to sit on a patio somewhere in Italy for three weeks.
Or spending winters in Hawaii.
Or taking off in an RV.
Or simply having more ordinary days together without a work schedule dictating your lives.

And here's the uncomfortable truth:
There is no guarantee that both people will remain healthy at the same time.

We all know this.
We've seen it happen to our parents.
We've watched friends face unexpected diagnoses.
We've seen someone suddenly become a caregiver.
We've seen plans change.

Yet somehow, when we're planning our own retirement, we often behave as though we'll both be perfectly healthy at 78, 82 and 85.

Maybe we will.
But maybe we won't.
And that's not a reason to be fearful.
It's a reason to be intentional.

Don't wait for retirement to start living

One of the biggest mistakes I see people make is thinking:
“We'll do that when we retire.”
We'll travel when we retire.
We'll spend more time together when we retire.
We'll renovate when we retire.
We'll simplify when we retire.
We'll finally enjoy the house when we retire.

But retirement itself isn't a guarantee of good health, unlimited energy or endless time.
The years immediately after leaving work may actually be some of the most valuable years you have.

That's why I think it's worth asking:

What would you do if you knew you had 12 really active years ahead of you?

Where would you go?
Who would you spend them with?
What would you learn?
What would you stop doing?
What would you finally say yes to?

And perhaps most importantly:
What would you need to change today to make those years possible?

Maybe downsizing isn't about giving something up

Maybe it's about getting something back.
Less house.
More time.
Less maintenance.
More travel.
Less stuff.
More freedom.
Less responsibility.
More experiences.

Less money tied up in a home you no longer need.
More money available to create the life you've been working toward.

That doesn't mean everyone should sell their home at 60.
It doesn't mean a condo is automatically a better financial investment.
And it certainly doesn't mean that life suddenly changes at 72.
What it means is that your home should support the life you want to live, not simply the life you've already lived.

So, what is your 12-year plan?

Maybe you're 55 and retirement is still several years away.
Maybe you're 61 and you're already thinking about the next chapter.
Or maybe you're 68 and realizing that there are still things on your list you really want to do.

The question isn't:
“How long can I stay in this house?”

Perhaps the better question is:
“How do I want to spend the healthiest, most active years of my retirement?”

And then work backwards.
What will that cost?
Where do you want to live?
How much freedom do you want?
How much home do you actually need?
And what changes could you make now to give yourself the best chance of enjoying those years?

Because your home is an investment.
Your retirement is an investment too.
And time may be the most valuable investment of all.

Shelley Hird
Downsizing Specialist and North Shore REALTOR®
www.thedownsizingspecialist.com

When we’re buying a home, we tend to focus on the things we can see right away.

The kitchen.
The bathrooms.
The backyard.
The neighbourhood.
The size of the living room.

But some of the things we need most in a home aren’t always obvious when we’re standing there for the first time.

They’re the things we only realize we need after our lives change.

Here are a few things I think we often underestimate.

1. Space for growing teenagers

When kids are little, having one shared family living space can feel ideal.

You want to see them. You want to be together. You want to know what they’re up to.

But then they grow.

And suddenly, that sweet little family room that once felt perfectly adequate becomes a place where everyone is competing for space, privacy and, occasionally, the Wi-Fi.

Teenagers need somewhere to go.

They need a place where they can do homework, hang out with friends, play video games, watch TV, listen to music or simply close a door and have some privacy.

It’s not something most of us think about when we’re buying a home with young children. We’re thinking about bedrooms, schools and whether there’s enough room for all the toys.

But kids get bigger.

Their stuff gets bigger.

Their friends get bigger.

And their need for independence gets bigger too.

So when you’re looking at a home, don’t just think about how your family lives today.

Think about how you’ll want your family to live five or ten years from now.

2. The rising costs of life

This is another one we can underestimate.

Life gets expensive.

Groceries, insurance, property taxes, utilities, maintenance, travel, helping kids, retirement... the list goes on.

So when you’re buying a home, I think it’s worth looking beyond the purchase price and asking:

Can this home help us manage the costs of our life?

A basement suite can be incredibly valuable for that reason.

It could provide rental income today. Or it could be something you create down the road when you need additional income.

And there’s another layer to this that I really like.

That same space can change with your family.

When the kids are teenagers, it might give them a little more independence.

Later, it could provide a place for an aging parent as they downsize.

Or perhaps an adult child who needs somewhere to land for a while.

Or maybe it simply becomes a flexible space that gives you options as your life changes.

And those options are valuable.

Especially because creating them later can be expensive.

Depending on the home and the scope of the work, building a basement suite today can easily become a significant renovation investment. So if you’re buying a home that already has a suite, or one that has the layout and infrastructure to create one relatively easily, that flexibility can be worth a lot.

We often look at a home and ask:

“Do we need this space right now?”

I think a better question is:

“Could we need this space later?”

Because the best homes aren’t necessarily the ones that are perfect for the life you have today.

They’re the ones that give you some flexibility for the life you haven't planned yet.

3. A beautiful outdoor space

This is a funny one because I think most of us fall in love with the giant yard when our kids are young.

And I completely understand why.

You picture the kids running around. There’s a trampoline. Maybe a play structure. A soccer net. Friends coming over. Summer barbecues.

When your kids are little, you really can need all that space.

But then life changes.

The kids get older.

They have sports, friends, school, jobs and activities. You have a career. Everyone is busy.

And before you know it, you're driving around like ships in the night, dropping one kid off at basketball while the other is headed somewhere completely different.

And that giant yard that once felt so important?

You might not actually be using it that much.

But you're still maintaining it.

You're still mowing it, watering it, pruning it, cleaning it and paying to maintain it.

And the older we get, the more we may start to realize that the cost of a large yard isn't just financial.

It's time and energy.

So while a huge backyard can be incredibly valuable during one stage of life, it doesn't necessarily mean it's going to be valuable to you forever.

Sometimes a smaller, beautiful outdoor space that you actually use can be worth far more than a giant yard that has become another item on your maintenance list.

And this becomes even more important as we get older.

One of the things I hear so often from people who are thinking about downsizing is:

“I'm tired of maintaining everything.”

The house.

The garden.

The gutters.

The lawn.

The endless list.

So when you're buying a home, I think it's worth asking yourself not just:

“Do we love this yard?”

but:

“How are we actually going to use this yard?”

And perhaps even more importantly:

“How will we feel about maintaining it ten or twenty years from now?”

There isn't a right or wrong answer.

For some families, a huge yard will be exactly what they need for many years.

For others, a smaller yard, a beautiful patio or a low-maintenance outdoor space may ultimately give them more of what they really want: time to enjoy their home instead of constantly maintaining it.

It's about finding the balance between the life you're living now and the life you're moving toward.

Because our homes don't stay the same as our lives change.

And sometimes, the things we think we absolutely need today become the very things we're grateful to let go of later. 

Shelley Hird
Downsizing Specialist and North Shore Realtor®
www.shelleyhird.com

4 Things Buyers Often Miss When Viewing A Home For The First Time

One of the things I actually love about a slower real estate market is that buyers have something they haven’t always had in a hot market:

Time.

Time to think.
Time to ask questions.
And most importantly, time to go back and see a home again before making a decision.

Because here’s the thing about an open house…
You walk through the door and everything looks great.

The house is clean. The furniture is beautifully arranged. The lights are on. Maybe there are flowers on the counter and music playing in the background.

You’re excited.

And when you’re excited, it’s very easy to see what you love about a home and miss some of the simple things that could affect how much you actually enjoy living there every day.

So if you’re looking at homes right now, take advantage of the slower market.

Go back.

Here are a few things I would look at the second or third time around.

1. The direction of the sun

This is one of the easiest things to overlook at an open house.

Where does the sun come up? Where does it set? Which rooms get morning light? Which ones get afternoon sun?

It can make a huge difference to the temperature of your home, the amount of natural light you get, glare and reflections, and even how you use your outdoor space.

If you’re hoping to grow vegetables, for example, you’ll want to know how much direct sunlight that garden actually gets.

A home can feel completely different at 11 a.m. on a sunny Sunday than it does at 4 p.m. on a hot summer afternoon.

Go back at a different time of day if you can.

2. The imperfections

At an open house, everything is designed to look its best.

And that's the point.

But once you've fallen a little bit in love with the house, it's time to slow down and look a little closer.

Are those just cosmetic imperfections, or could they be signs of something bigger?

Are there cracks? Water marks? Areas that have been freshly painted? Doors that don't close properly? Floors that feel uneven?

Of course, you'll have your home inspection if you make an offer, but there are also things that simply come down to:

Can I live with this?

When we bought our home, we came back three times before making an offer.

And it took three visits for us to realize that the front of the house was painted a completely different colour than the other three sides.

We had been so focused on everything we loved about the house that we hadn't noticed it.
The front of the house was brown and the sides were white… this was not a small difference. We still laugh about it today.

But it’s also a great reminder that sometimes you simply need to see a home more than once.

3. The layout

A layout can look fantastic when you're walking through an open house.

Open concept has been incredibly popular for years, and there are lots of reasons why.

But don't just ask yourself, “Does this look good?”

Ask yourself:

“How will we actually live here?”

Where will the kids hang out?

Where will you work?

Is there enough separation and privacy when you need it?

How does the kitchen connect to the outdoor space?

Can you easily get from the garage to the kitchen with groceries?

Does the flow make sense for your family?

These are the things you don't necessarily think about when you're walking through a house with 20 other people.

But they're the things you'll notice every single day once you live there.

4. The practicality

This is a big one.

When we walk into a home that has been beautifully decluttered and staged, it's very easy to underestimate how much storage we actually need.

Everything looks so clean and calm.

There isn't a jacket hanging over the chair. There aren't 14 pairs of shoes by the front door. The kitchen counters are completely clear. The pantry looks beautifully organized.

It can almost feel like you're walking into a magazine.

And it's okay to think, “I could live like this.”

But very few people actually live like they're living in a magazine.

So be honest with yourself about how your family really lives.

If you need a garage, you need a garage.

If you need a big pantry, you need a big pantry.

If you have a lot of coats, sports equipment, luggage, tools, Christmas decorations or whatever else your family has accumulated over the years, you need somewhere to put it.

Look at the closet space.

Look at the kitchen cabinetry.

Look at the pantry.

Look at the mudroom.

Look at the garage.

And don't just look at whether there is some storage. Ask yourself whether there is enough storage for the way you actually live.

Because storage is one of those things you can very easily underestimate when you're walking through a beautifully staged home.

And once you move in, it's not something you can easily fix.

That beautiful, uncluttered home you fell in love with may have looked that way because everything that didn't fit was temporarily removed.

So take a really honest look at your own life.

Don't buy the lifestyle you wish you had. Buy the home that supports the lifestyle you actually live.

That's what that second or third visit is really about.

Stop looking at the house as a beautiful property and start imagining it as your home.

A slower market gives you the opportunity to do exactly that.

So if you've found a house you really like, don't feel pressured to make a decision simply because you loved it at the open house.

Go back.

Look again.

Come at a different time of day.

Open the closets. Stand in the backyard. Sit in the living room. Think about where you'll put your furniture. Imagine a rainy Tuesday morning instead of a sunny Sunday afternoon.

Because sometimes the things that make a home look amazing aren't the things that make it the right home for you.

And in a slower market, you have the luxury of taking a little more time to figure that out.

Shelley Hird
North Shore and Downsizing Specialist 
www.shelleyhird.com

The Financial and Emotional Cost of Staying Put

There is something incredibly comforting about staying put.

You know your neighbours. You know the house. You know which floorboard squeaks and exactly where the afternoon sun comes through the kitchen window.

Maybe you've raised your children there. Maybe you've celebrated 30 Christmases in that same dining room. Maybe your home has been the one constant through some of the biggest chapters of your life.

And if you've owned a home on the North Shore for a long time, there's another very good reason to stay:

Your home may be worth a lot more than you ever imagined it would be.

For many homeowners, the family home has been an extraordinary investment.

So when someone suggests selling it and moving somewhere smaller, the obvious question is:

"Why would I do that?"

It's a fair question.

And I'm not here to tell you that you should.

But I do think there's another question worth asking:

What is it actually costing you to stay?

Not just financially.

But in time, energy, maintenance, flexibility and opportunity.

And when you look at the next 10 or 20 years rather than the last 20, the answer can be surprisingly different.

Your Home Can Be Your Greatest Asset... and Still Cost Money to Own

Let's take a hypothetical example that is fairly close to the price point many North Vancouver homeowners are familiar with.

Imagine you own a detached home worth $2.2 million.

You've lived there for many years. Your mortgage is paid off. You've built substantial equity.

On paper, you have a very valuable asset.

But the house doesn't just sit there appreciating.

It needs things.

The roof eventually needs replacing. The furnace doesn't last forever. Windows age. Decks need attention.

The driveway needs work. The garden grows whether you're in the mood to garden or not.

And then there are the less obvious costs:

Property taxes.

Insurance.

Utilities.

Landscaping.

Cleaning.

And the occasional plumber or electrician who seems to charge $200 simply for the call out fee.

The point is that owning a home has a carrying cost, even when there is no mortgage.

What Might 20 Years of Homeownership Actually Look Like?

This is where I want to be very clear.

The numbers below are an illustration, not a prediction.

I'm not suggesting that a North Vancouver homeowner will spend exactly this amount every year. Some years will be much less. Some years will be considerably more.

The purpose is simply to take a longer view.

For our $2.2 million detached home, let's assume approximately $40,000 per year in total property-related expenses:

A note about the renovation reserve

This is perhaps the most important number to explain.

The $10,000 annual renovation reserve isn't money you necessarily spend every year.

Instead, think of it as setting aside an average amount each year for the bigger projects that eventually come along.

Maybe the kitchen needs updating. The bathrooms need renovating. The roof needs replacing.

The windows are reaching the end of their useful life. The deck needs rebuilding.

Or perhaps you simply want to make improvements to keep the home comfortable and competitive over the years.

You might spend almost nothing one year and $50,000 the next.

The idea of the reserve is simply to spread those larger, less frequent expenses across a longer period of time.

So, in this illustration, $40,000 × 20 years = $800,000.

That's a significant number.

But it's also important to remember what it represents:

20 years of living in and enjoying a $2.2 million home.

It's not money "lost."

It's the cost of owning, maintaining and enjoying the home.

And that's an important distinction.

What If You Chose a Smaller Home?

Now let's look at another illustration.

Imagine the homeowner sells the $2.2 million detached home and purchases a $1.2 million condo or townhouse.

That leaves approximately $1 million of gross equity to invest, before selling costs, legal fees, moving expenses, taxes and other transaction costs.

Again, this isn't a recommendation.

It's simply another possible scenario.

The annual property-related costs might look something like this:

Again, these are simply reasonable assumptions for the purpose of comparison.

Strata fees can vary significantly between buildings, and they can increase over time. Condo owners can also face special assessments and other expenses that aren't captured in this simplified example.

But under these assumptions, the difference is interesting:

Detached home:

$800,000 over 20 years

Smaller property:

$400,000 over 20 years

That's a difference of approximately:

$400,000 over 20 years

Or about $20,000 per year on average.

Would every homeowner experience this difference?

Absolutely not.

That's not the point.

The point is to ask:

What does the cost of maintaining my particular home look like over the next 20 years?

And Then There's the $1 Million Question

Let's say the homeowner has $1 million left over after purchasing the smaller property.

What if they invested it?

Again, this is an illustration, not a prediction or investment recommendation.

If that $1 million earned an average annual return of:

4%

After 20 years:

Approximately $2.19 million

5%

After 20 years:

Approximately $2.65 million

6%

After 20 years:

Approximately $3.21 million

That's the power of compound growth.

But it's also important to remember that investments fluctuate. Returns aren't guaranteed, and taxes, fees and the type of investment would all affect the actual outcome.

The point isn't that the homeowner will have $2.65 million in 20 years.

It's that $1 million of equity has options when it isn't tied up in a house.

And that's an interesting thing to think about.

But What About the House Going Up in Value?

This is where the conversation gets really interesting.

If you've owned a North Vancouver home for 20 or 30 years, you've probably experienced significant appreciation.

And perhaps your first instinct is:

"But my house will continue to go up."

It might.

Historically, real estate has been an important source of wealth creation for many Canadian homeowners.

But will the next 20 years look like the last 20?

Honestly, I don't know.

And neither does anyone else.

We can make projections, but nobody can tell us with certainty what a North Vancouver detached home will be worth in 2046.

So let's look at three simple illustrations.

If the $2.2 million home appreciated at an average of:

2% per year

After 20 years:

Approximately $3.27 million

3% per year

After 20 years:

Approximately $3.97 million

4% per year

After 20 years:

Approximately $4.82 million

That's a pretty wide range.

And it illustrates why I think it's dangerous to assume that the future will simply repeat the past.

We're Entering a Very Different Demographic Era

There's another reason I think this conversation is worth having.

Canada is getting older.

Statistics Canada estimates that people aged 65 and older represented 19.5% of Canada's population in 2025.

Depending on the projection scenario, that share could rise to between 22.6% and 32.5% by 2075.

The population aged 85 and older is also expected to grow rapidly, particularly between 2031 and 2050.

That's a remarkable demographic shift.

And it matters because housing needs change as we age.

The home that was perfect when you were 42 may not necessarily be the home that works best when you're 72.

That doesn't mean you need to move.

It simply means it's worth thinking about.

Most Older Canadians Own Their Homes

Statistics Canada data from the 2021 Census showed that homeownership rates remain high among older Canadians.

Approximately 75.6% of Canadians aged 65 to 69 owned their homes, as did 74.8% of those aged 70 to 74. Among Canadians aged 75 to 84, the rate was 72.5%.

That's a tremendous amount of Canadian household wealth tied up in housing.

And for many people, that's exactly where they want it.

There's nothing wrong with that.

But it does raise an interesting question:

How much of your wealth do you actually want tied up in your home?

Your Life Is Changing Too

Here's the thing we sometimes forget when we talk about real estate.

Your house may be appreciating.

But your life is changing too.

Twenty years ago, perhaps you had teenagers running through the house.

You needed four bedrooms.

You needed a big kitchen.

You needed a yard.

You needed a garage.

You needed storage for hockey equipment, bikes, camping gear, toys and approximately 47 pairs of shoes.

Now?

Maybe two people live there.

Maybe three rooms rarely get used.

Maybe the basement has become a very expensive storage locker.

Maybe the yard you once loved has become a job.

Maybe the stairs aren't your favourite thing anymore.

None of this means there's anything wrong with your house.

It simply means your needs may have changed.

Your Next Chapter May Look Different

This is one of the reasons I love the idea of a Next Chapter.

It doesn't have to mean selling your house.

It doesn't have to mean moving into a condo.

And it certainly doesn't mean giving away everything you've accumulated over a lifetime.

It simply means taking a moment to think about what you want the next stage of your life to look like.

Maybe you want more travel and less maintenance.

Maybe you want to be closer to your children.

Maybe you want to spend your money differently.

Maybe you want a garden, a workshop, a condo with a view, or simply a home where everything you need is on one floor.

Or maybe you love your home exactly as it is and can't imagine living anywhere else.

That's okay too.

The point is that you get to design your next chapter.

And sometimes, taking a fresh look at your home, your equity and the cost of maintaining it is simply part of figuring out what that chapter could look like.

The Questions I'm Asking Myself

And here's where this becomes personal for me.

I'm not just writing this as a downsizing specialist.

I'm an empty nester in the making.

In four years, my son will likely be heading off to whatever comes next for him, and I find myself already thinking about what our home, our finances and our lifestyle might look like at that point.

And honestly?

I don't have the answers.

I love my home.

I love where we live.

I love having space to host our family and friends.

There are plenty of reasons I could see myself staying exactly where I am.

But I'm also asking myself some questions.

Do I really want to maintain this much house when it's just the two of us?

How much of our home will we actually use?

Would I rather spend some of that equity on experiences, travel, family and the things we enjoy while we're healthy and active enough to do them?

What will I want my life to look like at 55? At 65? At 75?

And perhaps the biggest question:

Am I designing my home around the life I've already lived, or the life I want to live next?

I don't know yet what the answer will be.

And I think that's okay.

I'm four years away from this particular transition, but I'm already thinking about it.

Not because I'm ready to sell my house tomorrow.

But because I'd rather have the conversation with myself before I have to make a decision.

In my years of experience helping clients downsize, I think that's one of the greatest advantages I have seen -  thinking about your next chapter early.

You get to design it.

Rather than waiting until a health issue, a major repair, a financial change or some other life event forces you to make decisions quickly, you have the luxury of asking:

What do I actually want?

The Part You Can't Put on a Spreadsheet

As interesting as the numbers are, they only tell part of the story.

You can't put a dollar value on the comfort of waking up in the home you've loved for decades.

You can't quantify family memories.

You can't calculate the feeling of belonging to a neighbourhood you've helped build a life in.

You also can't easily put a number on freedom.

The freedom to travel without worrying about the garden.

The freedom to spend a Saturday doing something other than home maintenance.

The freedom of having fewer rooms to clean.

Or the freedom of staying exactly where you are because you genuinely love it.

These things matter.

And for some people, they matter more than the financial calculations.

There Isn't a Right Answer

This is probably the most important part.

If you love your home, can comfortably afford the costs, enjoy maintaining it and want to stay there for the next 20 years...

Stay.

There is absolutely nothing wrong with that.

On the other hand, if you find yourself spending more and more money maintaining a house you barely use...

Or you're travelling more and spending less time at home...

Or you're beginning to resent the yard...

Or you're sitting on millions of dollars of equity but don't feel particularly wealthy...

Or you're starting to think about how you'd like your life to look at 70, 75 or 80...

Maybe it's worth running the numbers.

Not because you have to move.

Just because you deserve to understand your options.

So... What Happens If You Never Downsize?

Maybe nothing.

Maybe you stay in your home for another 20 years, watch it appreciate, maintain it, enjoy it and eventually pass it on to your children.

That may be exactly what you want.

Or maybe, somewhere along the way, you realize that your home is no longer supporting the life you want to live.

And maybe you make a change.

Neither outcome is a failure.

The important thing is that the decision is intentional rather than accidental.

Because your home is not just an investment.

It's the backdrop to your life.

And as that life changes, it's worth asking whether your home is still supporting the way you want to live.

I'm asking myself those questions already.

I have four years until I'm an empty nester, and I have no idea yet what my answer will be.

But I do know this:

I want to design my next chapter around how I want to live, rather than simply continuing to live the way I always have.

Maybe that's the real conversation we're having when we talk about downsizing.

Not:

"How much house can I afford?"

Not:

"How much will my house be worth?"

But simply:

"What do I want the next chapter of my life to look like?"

And then...

Does my home help me get there?

The financial examples in this article are hypothetical illustrations only. They are not predictions, investment advice, tax advice or real estate advice. The figures do not account for selling commissions, legal fees, property transfer tax, moving costs, investment fees, taxes, inflation, strata special assessments or future changes in property taxes, insurance, utilities or strata fees. Actual costs, property appreciation and investment returns will vary considerably.

Shelley Hird
Downsizing and Senior’s Real Estate Specialist with Oakwyn Realty Ltd, North Vancouver
www.shelleyhird.com

As a Realtor and Downsizing Specialist, I've had the privilege of helping countless families navigate one of life's biggest transitions: leaving the family home and moving onto the next chapter.

Over the years, I've noticed something interesting.

The people who have the easiest, least stressful downsizing experiences aren't necessarily the most organized or the most decisive. They're the ones who started preparing long before they put a "For Sale" sign on the lawn.

That realization has changed how I'm thinking about my own future.

My husband and I are about four years away from becoming empty nesters. While we aren't planning to move tomorrow, we are intentionally making choices today that will make the transition easier when the time comes.

Here are the six things I'm doing now that I believe will pay off later.

1. I'm Buying Less

This might be the biggest mindset shift of all.

Every item that comes into our home is something I'll eventually have to organize, clean, store, maintain, move, or let go of.

Before I buy something, I ask myself a simple question:

Will this genuinely improve my life?

If the answer isn't a clear yes, I leave it behind.

I've learned that preparing for downsizing doesn't begin when you start decluttering. It begins when you become more intentional about what you bring into your home in the first place.

2. I'm Turning Our Home Into Future Travel

One of the things I'm most excited about is travelling more after we downsize.

Instead of seeing our home as just the place we live, we're using it as a tool to help make those adventures possible.

We're participating in home exchanges and building travel credits now, with the goal of enjoying months of accommodations around the world in retirement.

It's a reminder that our home can do more than provide shelter. It can help create experiences.

3. We're Planning Our Finances With Intention

Retirement shouldn't be left to guesswork.

We're taking time now to understand what our financial future could look like and what steps we need to take to get there.

One of the best decisions we've made is working with a fee-for-service financial planner.

Unlike advisors who earn commissions on products they sell, a fee-for-service planner is paid solely for their advice. That means the conversation is focused entirely on building a plan that's right for us.

Knowing where you stand financially brings clarity and confidence to every future decision.

4. I Declutter Every Year

People often assume downsizing means spending months sorting through decades of belongings.

It doesn't have to.

Every year, I go through different areas of our home as if we were preparing to list it for sale.

The difference is, we're not selling.

By tackling a little at a time, nothing ever becomes overwhelming.

Future me will be incredibly thankful.

5. I'm Keeping Track of Every Home Improvement

Have you ever tried to remember when you replaced the roof?

Or whether the hot water tank was installed six years ago or eight?

It's surprisingly difficult.

That's why I'm keeping an organized record of every repair, renovation, upgrade, and maintenance project we complete.

When it's eventually time to sell, everything will already be documented.

Not only does this make life easier, but buyers appreciate seeing a well-maintained home with a clear history of improvements.

6. I'm Dreaming About What's Next

This might be the most important step.

It's easy to focus on what you'll be leaving behind.

The family dinners.
The busy schedules.
The bedrooms that suddenly feel too quiet.

But I've learned that downsizing isn't about giving something up.

It's about making room for what's ahead.

Travel.
More time with family.
New hobbies.
Greater flexibility.
Less maintenance.
More freedom.

I've even started creating a vision board for what I'd like those first few years after downsizing to look like.

When you have something exciting to move toward, letting go of the things that no longer serve you becomes much easier.

Downsizing Starts Long Before You Move

One of the biggest lessons I've learned from helping countless families is that downsizing is rarely just about real estate.

It's about preparing emotionally, financially, and practically for a new stage of life.

You don't have to wait until you've chosen a moving date to begin.

In fact, the earlier you start, the more control you'll have over the entire process.

Even if your move is five or ten years away, taking one small step today can make all the difference tomorrow.

Your next chapter deserves just as much thought and excitement as the one you're living now.

And from everything I've witnessed over the years, that's exactly where the best downsizing journeys begin.

Thinking About Downsizing?

Whether you're planning a move next year or simply starting to think about what retirement could look like, I'd love to help.

As a North Vancouver Realtor and Downsizing Specialist, I help homeowners create a personalized plan that reduces stress, protects their equity, and makes the transition feel exciting instead of overwhelming.

If you're wondering where to begin, let's have a conversation. Sometimes the first step is simply understanding your options.

Shelley Hird
Downsizing Specialist and North Shore Realtor with Oakwyn Realty
604.209.4855
www.shelleyhird.com

"Mom, have you ever thought about moving?"

Sometimes that's all it takes.

A simple question can suddenly turn an ordinary family dinner into a tense conversation filled with frustration, hurt feelings, and defensiveness.

If you've ever tried to help your parents declutter, downsize, or consider a move, you're not alone.

As a realtor who specializes in downsizing, I've worked with many families navigating this exact situation. Often, the practical side of downsizing isn't the biggest challenge.

It's the emotional side.

Children are worried about safety, maintenance, and future care needs.

Parents are worried about losing their independence, their memories, and a home they've loved for decades.

When those concerns collide, even the closest families can find themselves struggling to communicate.

The good news?

There are ways to help your parents plan for the future while preserving the trust and relationship you've spent a lifetime building.

Start with Curiosity, Not Solutions

One of the biggest mistakes adult children make is approaching the conversation with a solution before understanding the problem.

It's easy to focus on what you see:

• The stairs are becoming difficult.

• The yard requires constant upkeep.

• The house feels too large.

• There are repairs that aren't getting done.

While these concerns may be completely valid, leading with them can sometimes make parents feel judged or pressured.

Instead, try asking questions.

• How are you feeling about maintaining the house these days?

• What do you love most about living here?

• Is there anything that feels more difficult than it used to?

• Have you ever thought about what the next ten years might look like?

When people feel heard, they're often more open to exploring possibilities.

Remember: This Isn't Just a House

For many parents, the family home represents far more than a piece of real estate.

It's where children took their first steps.

It's where birthdays were celebrated.

It's where holiday traditions were created.

It's where they built their lives.

While adult children may see an aging house, parents often see decades of memories.

Acknowledging this emotional connection can completely change the tone of the conversation.

Instead of focusing solely on what needs to change, take time to recognize what the home has meant to them.

That understanding goes a long way.

Avoid the "You Need To" Trap

Few phrases create resistance faster than:

• You need to move.

• You need to declutter.

• You need to get rid of this stuff.

• You need to start thinking about the future.

Even when spoken with good intentions, these statements can feel like an attack on independence.

Most people want to feel in control of their own decisions.

A better approach is to focus on options rather than directives.

Try saying:

• What would make life easier for you?

• Have you considered some different possibilities?

• Would you like help exploring options?

The goal is to support decision making, not take it over.

Understand That Downsizing Is Often a Grief Process

This is something many families don't anticipate.

Downsizing often involves letting go of more than possessions.

It can mean letting go of a chapter of life.

Parents may be processing:

• Retirement

• Aging

• Changing health

• Children leaving home

• The loss of a spouse

• Shifting family roles

It's completely normal for emotions to surface during this process.

What looks like procrastination may actually be grief.

What looks like stubbornness may actually be fear.

Patience matters.

Don't Start with the Stuff

Many adult children look around the house and immediately think:

"We need to clear all of this out."

But starting with belongings can feel overwhelming.

Instead, begin with the bigger picture.

Questions like:

• What kind of lifestyle do you want moving forward?

• How much maintenance do you want?

• Do you want to travel more?

• Would you like to be closer to family?

Once the vision becomes clear, decisions about belongings often become much easier.

People are more willing to let go of things when they understand what they're making room for.

Focus on Safety Without Creating Fear

Safety concerns are often what motivate families to begin these conversations.

Maybe there has been a fall.

Maybe stairs have become challenging.

Maybe home maintenance is becoming difficult.

These concerns are important, but it's usually more effective to approach them with compassion rather than urgency.

Instead of:

"You can't live here anymore."

Try:

"How can we make sure you stay safe and comfortable for years to come?"

That subtle shift can make a significant difference.

Accept That the Timing May Not Be Yours

One of the hardest lessons for adult children is realizing that their timeline may not match their parents' timeline.

You may feel ready to take action today.

Your parents may need months or even years to process the idea.

In my experience, many homeowners think about downsizing long before they actually make a move.

The conversation often begins years before a decision is made.

That's okay.

Planting a seed is often more effective than applying pressure.

When Professional Help Can Make a Difference

Sometimes families benefit from having a neutral third party involved.

Whether it's a financial planner, estate lawyer, professional organizer, downsizing specialist, or realtor experienced in working with seniors, outside guidance can help reduce tension.

Parents may be more receptive to information when it comes from someone who isn't emotionally involved.

Professional support can also help families focus on solutions rather than disagreements.

Final Thoughts

If you're trying to help your parents navigate a future move, remember this:

Your relationship is more important than any timeline, possession, or real estate decision.

Approach the conversation with empathy.

Listen more than you speak.

Ask questions before offering solutions.

And remember that what may seem like a practical decision to you could feel like a profound life change to them.

The goal isn't simply to help your parents move.

The goal is to help them feel heard, respected, supported, and empowered as they decide what comes next.

Sometimes the greatest gift we can give our parents isn't advice.

It's understanding.

Shelley Hird
Certified Senior’s Real Estate and Downsizing Specialist (SRES)
North Shore Realtor® with Oakwyn Realty
www.shelleyhird.com
604.209.4855

For years, property tax deferment has been one of those quiet, behind-the-scenes strategies that many homeowners—especially seniors—have relied on to make staying in their home financially manageable.

As a downsizing and seniors real estate specialist, I see it all the time.

A homeowner wants to remain in the place they love. The mortgage may be paid off, but rising costs—property taxes, insurance, maintenance—start to chip away at monthly cash flow. Property tax deferment steps in as a pressure valve: defer now, pay later.

And until recently, it was an incredibly attractive option.

Why Deferment Used to Be a “No-Brainer”

Under the previous program, interest rates were low, prime MINUS 2% which was often around 2–2.5% -  and,  importantly, simple interest.

In practical terms, that meant:

• Minimal borrowing cost

• Predictable growth of the deferred balance

• A very manageable long-term impact on home equity

For many homeowners, it functioned almost like a low-cost line of credit secured by their home.

So the decision was easy:

“Why not improve cash flow now and deal with it later?”

What Changed in 2026?

The new structure is fundamentally different.

• Interest rates are now prime PLUS 2% 

• This means interest rates have jumped to roughly 6.5% - 7%

• Interest is now compounding, not simple

That shift may sound technical, but the impact is anything but.

On an average annual property tax bill of $6,000:

• The old program cost roughly $147/year in interest

• The new program is closer to $420/year—and growing

Over time, that compounding effect becomes significant. A strategy that once felt light and flexible now behaves much more like a traditional loan.

The Real Question: Stay… or Reconsider?

This is where the conversation starts to change.

In the past, deferment helped people stay longer.
Now, it may be quietly nudging some to ask a different question:

“Is staying still the best financial decision?”

Because here’s the reality I see every day:

Many homeowners are sitting on substantial equity—but limited monthly cash flow.

And while deferment used to bridge that gap efficiently, the higher cost now means:

• More equity is eroded over time

• Less flexibility later (especially if care needs change)

• A larger financial burden passed forward

What I’m Advising Clients Right Now

Every situation is different, but the strategy has shifted from:

“Let’s defer and revisit later”

to:

“Let’s run the numbers and make a proactive choice”

Sometimes deferment still makes perfect sense—especially short term.

But in other cases, when we map out 5, 10, 15 years ahead, downsizing becomes not just a lifestyle decision… but a very strong financial one.

Final Thought

This policy change didn’t just adjust an interest rate—it reshaped a long-standing financial strategy.

If you or someone you care about has been relying on property tax deferment (or considering it), it’s worth taking a fresh look.

Because the goal isn’t just staying in your home.

It’s staying in control of your finances, your options, and your future.

If you’re curious what this looks like in your specific situation, I’m always happy to walk through the numbers and explore the options together.

Shelley Hird
Downsizing Specialist and Certified Senior’s Real Estate Specialist
www.shelleyhird.com