By Sheila Brady
Even Covid and isolation could not dampen Boomers’ deep love for their family home.
Many are large, two-storey affairs in the booming suburbs or brick affairs with tiny bathrooms and steep stairs in narrow homes on slim lots in the city core.
In 2020, a study conducted for Home Care Ontario found 91 per cent of Boomers (technically seniors) hoped to stay in their homes, believing it was their safest space, while Covid devastated their communities and friends.
Later studies showed 96 per cent of seniors wanted to stay in their homes, but with an important caveat: The spaces had to be safe and accessible. In the early 2000s, there was an upsurge of Adult Lifestyle Communities across Ottawa by a handful of builders, including Tamarack, Urbandale, Monarch and EQ Homes. These attached bungalow townhomes and single bungalows featured large open areas and one-level living.
Ottawa is a bit of a unique market, says veteran real estate guru Marnie Bennett. “Across the city, 66 per cent of all real estate is owned by Baby Boomers and 45 per cent do not have a mortgage,” says the owner of Bennett Property Shop Realty.
Ottawa has the highest per capita representation of Boomers in Canada, says Bennett. Many are retired from the federal government and local school boards, with indexed pensions.
Today, more and more aging Boomers are looking at reverse mortgages to break out money to maintain their lifestyle and independent living. Moving is not on the agenda. Boomers only reluctantly leave their homes when their health demands higher levels of care, says Bennett.
When the decision has to be made, there is a growing number opting for multi-generations under one roof, she reveals. “Ottawa is now more of a melting pot and diverse, with kids taking care of their parents in one home,” says Bennett.
