The dramatic events of the first years of this century have taught
Canadians that innovation in home buying and home ownership are
essential to maintain their chosen lifestyle in the face of ongoing
change. They share a growing realization that home and lifestyle are not
two distinct concepts, but one: home supports lifestyle, and lifestyle
defines home.
Canadians want to integrate their planning in these areas to find the
most innovative ways to achieve their goals. The emphasis in home
ownership is now on investigating methods to express individuality
through housing choices and lifestyle options. In spite of today's
obsession with labels and stereotyping, it is widely believed that a
person's home and lifestyle should reflect the unique needs and
interests of the family and individuals who live there.
Innovations are not necessarily brand new ideas. They may be new uses
for existing ideas, products or services — new twists on the old. To
ensure a sustainable lifestyle, don't limit your thinking to the present
or merely to your own needs. Explore the ideas presented below for
innovative twists that will help preserve your home and lifestyle, today
and into the future:
Have Your Home and Money Too
Adopt a money-management attitude, not a get-rich-quick
philosophy nor a caretaker mentality with respect to your major asset —
your house, condominium or cottage. Stop thinking of your home as a nest
egg to look after, and treat it as a partner in your financial future.
Invest the time and learn how to buy astutely, increase
property value and to sell at a profit.
Use your home to generate income, for instance you could
take in seasonal guests, create a separate apartment for you or a
tenant, or run a home-based business. The Canada Mortgage and Housing
Corporation offers a free consumer guide, "Your Guide to Renting a Home" to start your rental
project off on a solid foundation of knowledge.
Be prepared. Investigate reverse
mortgages and other financial products that allow you to turn the value in your home into cash without having to sell or move.
Know Your Rights
Learn about your rights so that you will understand your choices. Get
all assurances and guarantees in writing and read everything before you
sign. Before you commit, find out what recourse you have if the other
side does not live up to their responsibilities. Read the fine print on
leases, mortgages and other real estate agreements so you can ask your
real estate professional or lawyer for accurate clarification of your
rights and responsibilities before you sign. Join a ratepayers
association and keep up to date on municipal and provincial policies
like property taxation that affect your home and your finances.
Fight Homelessness with Do-It-Ourselves Development
Many people are only one pay cheque away from poverty. The strength of
your neighbourhood lies in its support of the changing needs of
residents. Join or create community groups to ensure that there are
choices for people who find themselves faced with financial constraints
or homelessness. If you want choice yourself, become active in the
community-based development movement and have the satisfaction of
helping to build your own home. Many nonprofit groups and churches are
also building affordable housing — life lease apartments, rental units,
condominiums.
Preserve Independence
Do not underestimate the value of independence and just how quickly it
can be in jeopardy. Owing your own bricks and mortar is not enough to
keep you independent as you age. When building or renovating, use
barrier-free design standards. Keep yourself fit and flexible.
Affordable, accessible personal and medical services are vital for
aging in place; that is, staying in your home or neighbourhood as
you age. Volunteer for groups and organizations that provide
independence-preserving services, such as Meals-on-Wheels and advocacy
clinics for the elderly, so you know the local barriers to independence.
Stay Connected to Your Community
Innovation is inhibited by isolation, inspired by diverse thinking and
nurtured by a healthy, shared "what-if curiosity."
Published: May 27, 2003
Use of this article without permission is a violation of federal copyright laws.
Futurist and Strategist PJ Wade is "The Catalyst" -- intent on "Challenging The Best Become Even Better." PJ earned this title by translating the dynamic impact of Boomers and their multi-generation families into relevant insights that start people thinking and taking action—in business and in life.
Author of 7 books and more than 1600 published articles, PJ encourages individuals to become their own futurist. PJ writes and speaks about the insight, knowledge and solid decision-making skills that professionals and their clients need to live and work in this vortex of change. For instance, since PJ knows that home is headquarters for the new decades-long "unretirement," she wrote the popular book "Reverse Mortgages: Best Friend, Worst Enemy... Your Choice! (CatapultPublishing.com), which is filled with suggestions and insight on protecting and using home equity. Her new business book, "What's Your Point?," which identifies 7 common mistakes professionals unknowingly repeat to their detriment, will be published in 2009.
As The Catalyst, PJ provides strategic communication, client appreciation and advanced education services to the financial, tourism, lifestyle and service sectors -- and the clients they serve. A frequently-quoted financial and business commentator, PJ is a thought-provoking strategic speaker who offers practical, real-life suggestions on leaving "the box" behind and embracing Forward Thinking -- a talent she regularly demonstrates in this column. For more on blogs, books and topics, visit TheCatalyst.com.
Futurist and Strategist