Best Places to Retire in Canada
Posted By: Rachel Kavanagh
August 22, 2019
Best Places to Retire in Canada – The question of where the best place is to retire has been a topic of conversation in many households. There is one thought that you need to move far away to enjoy retirement or you can “age in place” and stay in the home and neighbourhood you know and love, close to family, friends and frequented places.
In major metropolitan centres like the GTA and Vancouver, most individuals don’t want to make a cross country move, so recreational areas within their provinces become a hot spot. Here are some of the most in-demand cities and regions for those in search of the best place to retire in Canada.
Ontario is seeing the increasing trend of retirees fleeing urban centres where prices continue to rise and heading north to cottage country. However, it is more than just a cost-effective approach. The waterfront lifestyle has its perks and is ideal for retirees seeking an active lifestyle.
The town of Wasaga Beach is situated along the second-longest freshwater beach in the world. Offering a variety of relaxing activities, it boasts country clubs, golf courses, trails, yoga, and great access to activities on the water. With Blue Mountain nearby, the area offers an array of social activities and cultural experiences. The average sale price for a detached home in 2019 is $519,312, making it an ideal location for baby-boomers looking to move out of the city, while still keeping a healthy nest egg.
Another popular retirement destination is the Rideau Lakes, offering the best of nature with several historic trails, farms, and access to the Rideau Canal. The township also hosts adult social clubs for seniors that provide the opportunity to connect with the community over games, entertainment and a meal. The current average price for a detached home is $788,967.
For those looking to retire and leave the province to enjoy their golden years, Canada has beautiful places to live at reasonable costs.
British Columbia – South Okanagan
Similar to Ontario, retirees continue to drive the recreational market in British Columbia as they seek a more affordable lifestyle outside of particularly expensive metropolitan areas like Vancouver. The Okanagan region is a scenic valley with a retirement-based economy. The region offers a sunny climate, and Okanagan Lake, in particular, offers many outdoor activities to cater to retirees looking for an active lifestyle. The year-to-date average sale price for all home types is $425,151.
New Brunswick – Miramichi
With average home prices down by more than 10% in Miramichi within the past year, retirees from British Columbia, Ontario, Quebec and Alberta are downsizing and settling in this beautiful riverside city. Situated on the Miramichi River, the city boasts many marinas and access to waterfront activities. As an affordable social and cultural hub, Miramichi offers a well-balanced lifestyle for retirees. The average sale price in the first quarter of 2019 was $111,625.
Nova Scotia – Annapolis Valley and Yarmouth
Baby boomers looking to retire have been dominating home-buying activity across Annapolis Valley and Yarmouth in 2019. Out-of-province buyers from across the country are selling their properties at high prices and moving to Atlantic Canada to settle down. Annapolis Valley offers several relaxing attractions with its beaches and vineyards. The average sale price for all home types during the first quarter in 2019 is $111,625. Yarmouth is bustling with waterfront activities, parks, trails, heritage sites and festivals. This incredibly diverse and beautiful region offers something for everyone – especially a scenic view for retirement. The average sale price for all home types during the first quarter in 2019 is $138,706.
Nova Scotia – Kings County
Sunny skies in Kings County have contributed to solid home-buying activity in recent months, particularly attracting retirees from Ontario and Western Canada who are selling their homes and moving to Nova Scotia. From farmlands and orchards to wineries and vineyards, the region offers a relaxing atmosphere to complement the hidden shore communities and Lake Lands. The natural beauty of the valley is unparalleled, as it is enclosed by mountains and located on the southwest shore of the Bay of Fundy and much of the Shoreline of the Minas Basin – home of the world’s highest tides. Kings County doesn’t just offer a picturesque setting – its economy is thriving and continues to grow thanks to the abundance of wineries and microbreweries. The average sale price for all home types during the first quarter in 2019 is $138,706.
Prince Edward Island – Summerside
The city of Summerside is experiencing a seller’s market as it is highly sought after because of picturesque landscape, quality of life and affordability, especially by retirees from Ontario and British Columbia who are selling their properties to move to the area. With the influx of residents, the city continues to experience significant economic diversification, advancement, and growth. As PEI’s second-largest city, it boasts a lively downtown core, with many social and cultural events throughout the year. One of the most well-connected places to retire in Canada, Summerside offers both a serene environment and an active social scene. The average sale price for all home types during the first quarter in 2019 is $161,157.
Winnipeg – Lake Winnipeg & Sylvan Lake
Due to the strong US dollar, retirees in the Sylvan Lake and Lake Winnipeg regions are selling their snowbird properties south of the border and purchasing recreational homes for use as retirement properties as well. The town of Sylvan Lake attracts 1.5 million visitors every year due to its various parks, campgrounds, and of course, the lake itself. Bustling with life, Sylvan Lake is perfect for retirees looking for an active and engaged lifestyle. Lake Winnipeg, the largest lake within the borders of Southern Canada, attracts Canadians from across the country with its white sandy beaches. There are up to 30 diverse communities along the thousands of miles of shoreline that offer unique cultural experiences. With the city of Winnipeg only an hour away from certain regions of the lake, it makes for a convenient and ideal location for those looking to settle down and escape city life.
* Best Places to Retire in Canada written by Benczik Team Realty
For more information on your home, visit our website and get a free home evaluation to ensure you get the best seller’s service! With experience around Markham, Stouffville, Unionville, and all of York Region, Benczik Team Realty works to serve you in the best way possible! Act now, and don’t miss out on this ever-growing market.