With baby boomers starting to leave the workforce in record numbers, it’s no wonder that Canada’s retiree growth rate has increased significantly in recent years. With more and more retirees looking to downscale, and perhaps take advantage of the red-hot Toronto real estate market, they may be turning their eye towards new areas to live in close to the city, but away from the busy core.
Here are three areas that just might be perfect:
While Ottawa consistently ranks as the best city in Canada to retire in, those looking to live a couple of hours closer to Toronto might want to consider Kingston. Not only is it near the scenic Lake Ontario, with a downtown waterfront, and many outdoor activities, including golf, to choose from, but it also has all the amenities of a large city. In terms of health care options, Kingston also has three hospitals, as well as a regional cancer centre, making this an excellent option for seniors.
If Kingston seems a little too far, another city that’s significantly closer to Toronto is Niagara. Compared to Toronto, the real estate is affordable, while it also has a thriving cultural scene, perfect for active seniors. It’s no wonder it’s become a go-to destination for many, with it currently having the second highest rate of seniors in the province. The city also has excellent hospitals and urgent care clinics.
In Peterborough, one in five residents is a senior, making it the most popular city for this community in Ontario. The housing is considered affordable, with the median price being $299,900, while the area is also well-served by the state-of-the-art Peterborough Regional Health Centre, with close to 500 beds and emergency services. The area also is home to a thriving collection of retirement communities, while Toronto is within a two-hour drive of the city, making the commute relatively easy.