Most people prefer to stay in their homes for as long as possible. A home is generally synonymous with security, stability, and comfort. The prospect of moving can be unsettling, even worrying, for those involved.
When a person faces reduced mobility, they are then confronted with several options: selling their home to purchase a single-story house, moving into an accessible dwelling, relocating to live with a caregiver whose home must be properly equipped to meet their needs, or adapting their own residence. Naturally, this decision must be made carefully, as it will have long-term consequences, positive or negative.
In any case, when life suddenly takes a turn and one faces a mobility issue, even affecting movement within one’s own home, it’s easy to succumb to panic. One might then believe that the only way to adapt to this reality is to change homes. However, it is comforting to be able to make a well-informed decision.
For example, in the case of elderly individuals, moving to senior residences can be quite difficult, as they fear losing their independence. They are often concerned about the care they will receive and are hardly thrilled at the idea of leaving the home they have spent a lifetime cherishing, maintaining, improving, and personalizing. After all, moving is, most of the time, akin to uprooting oneself. It is also said to be the third greatest source of stress, after the anxiety caused by the death of a loved one and the distress experienced after a layoff.
The Moving Process:
Planning and organizing a move requires a lot of time and effort; here is an overview of the essential steps:
- Sorting various items: to sell, to donate, to discard, to keep.
- Emotional detachment from cherished objects or places: the house itself holds memories of a full life, but one must also consider the neighborhood; the grocer, the pharmacist, the neighbors, and all other familiar people and places.
- Moving preparation; packing and eventually unpacking items.
- Setting up the new home; planning the arrangement of old furniture if suitable, or shopping for new ones when essential, and personalized installation (frames, decorations, curtains).
- Hiring and booking professional moving services.
- Planning and carrying out any necessary work.
- Administrative formalities related to the sale and purchase/rental of the new home: payment of welcome taxes, notary fees, real estate agent commission, etc.
- Financial planning for all the preceding steps.
All these steps are certainly stressful and challenging, both physically and emotionally, for the person involved, and it is not unreasonable to assess their necessity.
Moving-Related Costs:
Many people think they save money by changing homes. But is that really the case?
When the decision to move is made due to illness or loss of physical autonomy, people generally look for a small house without stairs. Such houses are quite rare in Quebec. While it’s easy to find small houses, finding ones with neither interior nor exterior stairs presents a significant challenge. This new property will likely need to be adapted, in addition to paying all the costs incurred by the move.
Example of moving costs for a home valued at $300,000 located in Montreal
- Home inspection fees – Approximately $700
- Appraisal fees – $250 to $350
- Notary fees – Approximately $1,000
- Incidental fees and account adjustments. – According to the notary’s calculations
- Mortgage insurance. – Varies between 0.60% and 5.65%
- First municipal and school tax bills – Vary by borough. Approximately $3,000 to $5,000
Welcome Tax – Approximately $3,000 - Moving fees – Prices vary greatly depending on the time of year, the number of services requested, and the distance between homes. Fees are generally $750 and up.
- Utility connection fees – Approximately $50 per service, depending on the regions and companies.
- Mail forwarding – Minimum of $52.95
- Decoration-related costs – Depending on our tastes and desires
Minimum subtotal: Approximately $8,902.95
1- The financial institution may sometimes require a professional to assess the property’s true value.
2- Municipal and school taxes, electricity and/or natural gas bills, condominium fees if applicable. All calculated by the notary.
3- Must be paid by buyers not providing a down payment of at least 20% of the property price. https://www.cmhc-schl.gc.ca/fr/co/asprhy/asprhy_005.cfm
4- For example, in Montreal, this tax is calculated as follows: 0.5% of the home’s value on the first $50,000, 1% on the amount between $50,001 and $250,000, 1.5% on the amount between $250,000 and $500,000, and 2% on all amounts exceeding $500,001
5-Residential telephone service, cable, electricity, gas, internet, etc.
Other costs such as: Renovation plans and specifications, renovation permits, purchase of new furniture and appliances, interior renovation and landscaping, exterior renovations and landscaping, property survey fees, home adaptation, and any other possible costs. Realistically, it is fair to consider that selling to relocate elsewhere will cost a minimum of $10,000.
Move or Stay?
Ultimately, moving-related expenses are sometimes higher than one might think.
Considering adapting your home to reduce the costs and stress associated with this laborious operation can suddenly seem much simpler and more feasible than moving. After all, the memories you have tied to your home, all the time you’ve spent making your house warm, welcoming, and pleasant, are factors that, while having no real value in the real estate market, should not be overlooked for your well-being. Moving is rarely the only option.
Adapting your home, often easy and accessible, can truly prove to be a wise choice.
Contact us for our services to help you make the right decision.
