Renovate to Stay or Prep to Go? The 55+ Dilemma

If you have spent the last few decades in your family home, you have likely reached a crossroads that we see often in our rightsizing workshops. You love your neighbourhood and your memories, but your home is starting to feel a bit like an oversized suit—too much to maintain and not quite tailored to the way you live today.

The question we hear most frequently is: "Should we spend the money to make this house work for the long haul, or should we sell it while the market is stable and move into something that already fits?"

As we navigate the 2026 market, we want to share the "pro-and-con" reality of this choice. It isn't just a financial decision; it is a lifestyle one. Here is the breakdown of what we are seeing right now.

The True Cost of Aging in Place

Many homeowners believe that staying put is the "cheaper" option, but in 2026, the cost of making a traditional two-storey home truly accessible can be surprising. To stay safely and comfortably, you are often looking at more than just a few grab bars.

True "aging-in-place" renovations—like converting a powder room into a full main-floor bath with a curbless shower or relocating the laundry from the basement—can easily range from $40,000 to $70,000. If you need a chair lift or structural changes to widen doorways, those costs climb even higher.

While there are tax incentives available, such as the Home Accessibility Tax Credit (HATC) which offers a 15% credit on up to $20,000 of expenses, they only scratch the surface of a major overhaul. We often ask our clients: "Are you investing in a home that will truly serve you for twenty years, or are you just putting a bandage on a floor plan that will always have stairs?"

The Rightsizing Alternative: Navigating Your Next Step

On the other side of the coin is the "Prep to Go" strategy. In today’s market, we are seeing a unique window for those in larger family homes. Because the supply of detached houses remains limited across the GTA, your current home is a high-demand asset. Meanwhile, the inventory for luxury condos has opened up significantly, giving you more options and negotiating power on your "buy" side than we have seen in years.

While we all know that bungalows are the "gold dust" of real estate—rare and highly sought after—broadening your search to include well-appointed low-rise condos or smaller, modern townhomes can often achieve the same goal of maintenance-free, one-level living.

Rightsizing isn't about "losing" your space; it’s about trading unused square footage for a higher quality of life. When you move into a home that is already designed for your future, you aren't just saving on renovation costs—you are reclaiming your time.

Financially, the math is often compelling. By selling your current home with the right professional preparation and moving into a more efficient space, you can often unlock significant equity to fund your retirement or travel.

How to Decide: The Rightsizing Audit

If you are stuck in "analysis paralysis," we recommend taking a step back and performing what we call a Rightsizing Audit.

Ask yourselves these three questions:

1. Is the "Bone Structure" Right? No matter how much you renovate, can you eliminate the stairs to the bedroom or the steep walk up the driveway? If the answer is no, a renovation might only be a temporary fix.

2. What is the "Opportunity Cost" of Staying? Every dollar you spend on a major accessibility renovation is a dollar that isn't sitting in your retirement fund. Does the investment actually increase the resale value of your home, or is it a "personal use" expense?

3. Does Your Lifestyle Match Your Layout? If you are only using three rooms in a twelve-room house, you are still paying to heat, cool, and insure the other nine.

Our Combined Wisdom

Over the decades, we have helped hundreds of families through this exact transition. What we have learned is that the most successful moves happen when they are proactive, not reactive. Waiting for a health "event" to force a move takes away your power to choose.

Whether you decide that your current home is worth the investment to stay or you realize that a fresh start is exactly what you need, we are here to provide the data and the guidance to make sure it’s one of your better moves.

Every move is different, and the math can shift from one street to the next. If you’re wondering how these numbers apply to your specific home, we’re always here for a coffee and a chat—no strings attached.

— The Procenko Group

One of your better moves.