A new study has found that nearly a quarter of Canadian baby boomers still have adult children living at home with them.
The survey was carried out by real estate agency, Royal LePage, who found that 23% of Canadian baby boomers – those aged between 54 and 72 – still have at least one adult child living with them.
This trend is due to the rising house prices in Canada that are forcing some adults to live with their parents for longer. This is supported by the Royal Bank of Canada, who claim that home ownership costs and the cost of living has spiked to their highest levels in nearly three decades.
However, in general, baby boomers tend to be considerably more financial stable than their children, since they tend to have their mortgages under control. The Royal LePage survey found that nearly a third of baby boomers are considering moving to a new house once their kids eventually leave home and interestingly, 32% are planning on downsizing to a condo or bungalow.
It is a growing concern amongst people approaching retirement age, that their accessibility and ability to move around their homes independently may be compromised by an eventual illness or disability. As a result, travelling between floors could become increasingly difficult for them and they believe that the only solution to their worries is to downsize to a condo or bungalow.
However, at Stiltz Home Elevators Canada, homeowners can be reassured that they can stay in their ‘forever homes’ and still maintain their independence and freedom by installing one of our in-home elevators. Our innovative solution is to install a residential elevator in your home, and therefore ‘future proof’ your home is practical and surprisingly affordable solution in the eventuality of any mobility issues in later life.
Our unique and compact range of home elevators can be installed almost anywhere in your home, providing you with a safe and easy route of transport between the floors of your home. This allows homeowners peace of mind that they will not have to worry about the upheaval and stress of moving to a new house and leaving their intended forever home behind Choosing to install a Stiltz home lift is much more cost effective than moving to a new house and can even add value to your property.