Calgary is a great city to retire in with a vast array of services, top-notch medical care, and services that will focus increasingly on seniors as their population increases in the city. Calgary also boasts a robust housing market, which means that the equity in a Calgary home remains very safe. You can leverage this equity with a reverse mortgage from Horizon Equity.
A reverse mortgage through the CHIP Home Income Plan lets you withdraw up to 50% of the value of your Calgary home if you are aged 55 or older. This means that a reverse mortgage can be a part of your retirement plan, or a source of additional funds if you are already in retirement. All without you needing to pay back the loan until you sell your home. And if you already have your Calgary dream home, why would you need to move?
Calgary is one of the more economically stable cities in Canada, with a reasonably priced housing market and excellent access to jobs. As a result, a lot of younger people are moving to Calgary, but retirement planning can start at any age.
Ten per cent of Calgary’s population are over the age of 65, and is on target to increase to fifteen per cent over the next ten years. The first wave of baby boomers turn 65 this year, and the increase in the senior population mean that the city has some work to do in making more policy decisions that are focused on seniors. Many of these seniors helped Calgary become the economic powerhouse that it is today and they deserve the best services possible.
Economic security is a big concern for Calgary seniors. Increased property taxes and inflated costs of fuel, electricity, and food have a big impact on the bottom line of most seniors. If needed, some of this stress can be alleviated through a reverse mortgage.
Most Calgary seniors want to “age in place”, which means that they want to stay in their beloved homes where they have been for years. Policy changes are being discussed to make Calgary an age-friendly city according to World Health Organization guidelines.
If you want more information about a reverse mortgage in Calgary, Contact Us or request a counseling appointment. Either way, you won’t be badgered by salespeople and you’ll have all of your questions answered. Find out why many seniors in Calgary are choosing to participate in the CHIP Home Income Plan with Horizon Equity.