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Best Places To Retire In Canada And Why

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!

Best Places to Retire in Canada

And whether you care about weather, budget, or community, there is somewhere in Canada that is ready to welcome you to retirement. 

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

→WANT TO KNOW WHAT AGE YOU CAN RETIRE AT GIVEN YOUR CURRENT SAVINGS?  USE OUR FREE RETIREMENT CALCULATORS TO FIND OUT OR DETERMINE WHAT KIND OF MORTGAGE/CAR LOAN YOU CAN AFFORD.

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:

Victoria Butterfly Gardens

Beacon Hill Park

Royal BC Museum

 

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:

Shipyards Night Market

Waterfront Park

Park and Tilford Gardens

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:

Georgian Trail

Blue Mountain Resort

Collingwood Arboretum

 

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:

Tyendinaga Cavern and Caves

Glanmore National Historic Site

Shorelines Casino Belleville

 

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:

Stanley Park

Granville Island

Gastown

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:

Royal Ontario Museum

Distillery District

Centre Island

 

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:

Beaverbrook Art Gallery

Science East

Odell Park & Odell Arboretum

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: 

Rideau Canal

Parliament Hill

ByWard Market

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.

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