Let’s make a deal

Editorial

Tuesday, July 26 2016

How do we make the trade happen???

As one more senior member of the Gabriola community said at the LTC this past week, she’s been looking for a smaller home on Gabriola to downsize to from her five bedroom home.

There are at least a half dozen families of young pre-school-aged children living in homes smaller than than 600 square feet on Gabriola, all of whom would probably love to find their way into a larger space.

Maybe there’s a reality show that could be done on Gabriola. Houseswappers of the Gulf Islands - matching seniors, boomers, and other ‘down-sizers’ with ‘up-sizers’ in a way that not only achieves the space swap desired, but in a way that the finances work for everyone as well.

Because that’s one of the key barriers. Those wishing to up-size their home can’t always afford to purchase the larger home at a price that allows the down-sizers to realize the lifetime investment they’ve placed into their homes.

Any financial institution which can make the financing work - in a way that both up-sizers and down-sizers can be happy with - will be leap-years ahead of the competition. The challenge being that said institution will also need a piece of the pie.

In a farm family, or any other family business, it would be called succession planning. 

The problem is we’re talking about an entire community needing to create a succession plan.