Canadian real estate experts, authorities and pundits
will continue to be the ones asked to decide what
housing is needed now and in the future, but you and I
will have to live with the results whether they prove
to be right or wrong.
Take the initiative to secure your future. The more
flexible the design of your home, the more practical
it will be to convert if your lifestyle changes. The
more affordable your home, the more flexibility you'll
have if your financial situation changes or housing
costs increase over time. Take a long careful look at
your home and cottage, and at the neighbourhoods
involved. Decide what should be preserved and what can
be improved. Band together with your neighbours and
apply persistent pressure on local politicians to get
results.
Real estate professionals, renovators, mortgage
lenders, urban planners and contractors can provide
ideas on what can and cannot be achieved with your
current property and in your area. They can also help
you assess the practicality of buying another more
flexible home.
My definition of success with real estate is simply to
"have your home and money too." These two essential
elements provide the flexibility necessary to overcome
challenges in other areas of life from health onward.
Here's one resourceful, a "have your home and money
too" story that illustrates the power behind a
well-designed home.
More than thirty years ago, Jim and Janet Barrows
built the two-storey house of their dreams on a quiet
cul-de-sac in south London, Ontario. The house was an
ideal place to raise their two children and decades
later is proving to be a great place for their
retirement.
To welcome Janet's mother to their home about 15 years
ago, the Barrows build a wheel-chair-accessible
addition with a separate ramped entrance and ensured
their entire main-floor was barrier-free.
Years later, the vacant three-room suite proved
perfect for Janet Barrow's next venture -- a Bed and
Breakfast -- which also ensures they can stay in their
home as long as they like. If stairs became an issue,
the Barrows feel they could move into the
fully-accessible suite and use the house as a B & B.
Janet Barrows explains the transformation from family
home to bed and breakfast this way: "Friends and
family had long referred to our home as 'the Barrow
motel' because our doors were always open, people
dropped-in with regular frequency! Then my husband
retired from teaching high school and a few years ago,
I lost my job in the health care sector. Being home
all day, I realized how enjoyably varied life could be
and I decided I never wanted to work again solely for
a 'wage.'
"Only one bedroom in our 5-bedroom home was being
used, so I proposed to my husband that either we move
to a smaller house that's easier to keep clean or do
something that would incorporate use of the entire
house on a regular basis. Barrow By The Ponds was
therefore born out of a desire to truly enjoy what I
do, work on my own time clock and to be my own boss."
The B & B formally opened its doors in 2001. Now, the
Barrows regularly host guests from Germany, The
Netherlands, Northern Ireland, The Caribbean and
Mexico, as well as visitors from across North
American.
Many B & B's are started by people who want to move to
a resort or tourist area and create some income at the
same time. The Barrows realize that London is not a
"hot" destination, but they are happy where they are
and find business comes to them through the Internet.
They have regular visitors who break their trip
between Detroit and Toronto with an overnight in
London. Others come from around the world and across
the country to visit family, attend Western University
or get out-patient treatment at the hospital. The B &
B's new website, designed by their daughter Michele,
should add to the traffic over their threshold.
"When I retired, my plan was to relax and enjoy
myself," said Jim whose definition of "enjoy" is spelt
G-O-L-F. "What I like best about the bed and breakfast
is meeting strangers. The tax benefits are great, too,
and not having to move into a new neighbourhood is
important. We are able to continue friendships and be
close to the kids."
The Barrows share the tasks of keeping their B & B
immaculate and welcoming. An accountant handles the
financial details. They feel confident that their home
will continue to adapt to their needs and that their B
& B will remain an important part of their lives.
When you visit one of the thousands of B & Bs across
Canada, don't be shy about using your travel time to
learn more about your own real estate. Most
proprietors will be happy to share their experiences
and suggestions for enjoying your home and money too.
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