We spend most of our lives working and saving our hard-earned money. And we do that so we can retire, comfortably. Therefore, that nest egg is there to help us live our retirement in the way that we want. And, in a way that best suits us. Luckily, Canada offers so many wonderful places to retire. Moreover, there are many options to choose from, depending on where and how you want to live. So, if you want to know where the best places are to retire in Canada, and why, keep reading!
And whether you care about weather, budget, or community, there is somewhere in Canada that is ready to welcome you to retirement.
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What To Consider When Choosing A Place To Retire
What you want out of where you choose to retire depends on the type of retirement you see for yourself. However, there are some things every future retiree needs to consider when planning for retirement.
Property Tax
Do you plan to retire to a new community? If so, it’s important to review the property taxes where you plan to live. That is to say, even if you can buy a house and live mortgage-free, you always have to pay property taxes. For instance, in the Greater Toronto Area, there is a big difference in property taxes between the east and west sides of the city. As a result, this means a difference of thousands of dollars depending on where you settle.
Amenities And Attractions
Do you plan to live in a large city, a tiny hamlet, or somewhere in between? Certainly, what you choose impacts your day-to-day life. For example, it’s important to know how easy it is to get around. Firstly, what about entertainment. Where is the closest movie theatre? Secondly, what about stores? For instance, how close is a decent grocery store? And what about a good corner store? In other words, the older you get, the easier you want to make it access the things you need.
Population Size
So, this seems easy enough to find out. But it’s not just the current population you want to consider. For example, small communities can easily grow depending on how close they are to a large city. And, older areas can become more expensive. Therefore, learn about the place where you plan to live. Likewise, research the areas nearby. To clarify, you want to know what the next 20 years might look like in your community.
Access To Medical Care
Having easy access to quality medical care is always important. But this is even more important in retirement. And, while you don’t need to be within a ten-minute drive to a doctor, you also want to know it’s not too far away. So, see what hospitals are close by. Also, check how many doctors service the area where you plan to retire.
Best Places To Retire On Canada’s West Coast, And Why
Victoria, British Columbia
If you currently live — or want to retire in our country’s west coast — Victoria, B.C., is one of Canada’s best places to choose. Why? For one thing, it offers low property taxes. Also, a dream climate (for Canada!) and all the beauty of the west coast makes Victoria a great pick.
Population: 383,360
Average temperature: 4c in January to 24c in July
Average house price: ~$600,000
Average property tax: $2,440
Family doctors per 100,000 population: 176
Local attractions:
North Vancouver, British Columbia
North Vancouver is also incredibly beautiful. And while it is a much smaller community than Victoria, homes come with a much bigger price tag. But like Victoria, property taxes in North Vancouver are reasonable, and won’t stretch retirees’ budgets. In other words, these are just a few reasons why this destination makes our list of the best places to retire in Canada.
Population: 85,000
Average temperature: 2c in January to 23c in July
Average house price: $1.2 million
Average property tax: $1,276
Family doctors per 100,000 population: 160
Local attractions:
Best Smaller Town In Canada To Retire To
Collingwood, Ontario
Collingwood is one of Ontario’s gems. And, it is just as wonderful in the summer as it is in the winter, offering skiing and beaches galore. However, there are many other reasons it’s a top pick for retirement. For one, the blue mountains, located on Georgian Bay, provide a scenic and relaxing lifestyle. Also, the area of Collingwood is becoming a hot spot for the 55+ plus crowd. Finally, as it becomes more popular with retirees, it offers a community feel for the city’s growing number of active and social seniors.
Population: 21,973
Average temperature: 7.1c in Jan – 19.4c in July
Average housing price: $564,200
Family doctors per 100,000 population: 105
Local attractions:
Belleville, Ontario
So why is Belleville on our list of top retirement spots in Canada? Well, for one thing, it offers small-town living with natural beauty. In addition, Belleville, which is located halfway between Toronto and Montreal, offers easy access to services. Therefore, this quiet community is a wonderful option for retirees looking for some calm, with conveniences. To clarify, these are just a few reasons why it made our list.
Population: 50,000
Average temperature: -2c in January – 27c in July
Average housing price: $333,000
Property tax: 2.4%
Family doctors per 100,000 population: 137
Local attractions:
Glanmore National Historic Site
Best Place To Retire In Canada If Money Is No Object
Vancouver, British Columbia
Do you have the means, and want to retire in a bigger city? Well, Vancouver is one of the best places in Canada to pick. And while it certainly isn’t within every (or even most!) retirees’ budgets, it has been ranked one of the world’s most liveable cities. For one thing, Vancouver’s accessibility to, well, everything, makes it a great place to live. And with its breathtaking beauty, it’s no wonder it is on our list of top retirement spots.
Population: 2,463,400
Average temperature: 7c in January to 22c in July
Average house price: $1,156,050
Property tax: 2.6%
Family doctors per 100,000 population: 177
Local attractions:
Toronto, Ontario
The capital city of Ontario, Toronto, is a hot spot for people who want to retire in the hustle and bustle of a big city. So, it’s not surprising that it made our list of one of the best places to retire in Canada. However, homes are more than a little expensive. But property taxes are low given the amazing entertainment and services the city offers.
Population: 2.9 million
Average temperature: 0c in January – 27c in July
Average house price: $800,000
Property tax: 2.74%
Local attractions:
Best Place To Retire In Eastern Canada, And Why
Fredericton, New Brunswick
One of the best places to retire in Canada is on the east coast. Well, we’re talking about Fredericton. And more people need to visit this city to see why they should retire here. For example, it is both beautiful and affordable. In addition, it offers the convenience of a town with modern amenities. However, it still maintains a small-town feel. And these are just a few of the reasons why this is one of the best places to retire in Canada.
Population: 62,020
Average house price: $305,356
Property tax: 1.6%
Average temperature: 9.4 in January – 19.1 in July
Family doctors per 100,000 population: 113
Local attractions:
Overall Best Place To Retire in Canada, And Why
Ottawa, Ontario
The nation’s capital tops our list as the best place to retire in Canada. Why? Well, it offers a mix of convenience and attractions. Also, its weather and affordability make it a top spot for retirees. Furthermore, Ottawa offers tons of green space, arts and culture, sports and communities of every size. And there’s also an abundance of government buildings to visit.
Population: 994,837
Average house price: $487,400
Property tax: 2.4%
Average temperature: -6 in January 27 in July
Family doctors per 100,000 population: 142
Local attractions:
The Best Place To Retire Is Up To You
So whether you’re looking for a big city or scenic countryside, there are many places to put down stakes in retirement. To sum up, these are just a few of the best places to retire in Canada. Above all, it’s important to remember that you have spent your life saving for this. And therefore, now it’s time to reward yourself in a way that best suits your needs and your dreams.