There are a number of issues relating to planning to make the move.  Like many, you may not fully understand your financial situation and the the financial options such as reverse mortgages or your line of credit that may assist.  You should see a financial planner or at least talk to your bank about retirement financial planning.  

Renting vs. Purchasing

There is one issue on which we do want to provide comment.  We hear many seniors say they do not want to own after selling the family home.  They say they prefer to rent.  Some want to keep their equity free "just in case" there is a need to access them.  Others simply do not want to go through the difficulty of the purchase process.  Simplifying the future seems to be a priority.

In some cases this may be the right approach, but often it will hurt financially and often not get the right kind of housing that is needed at that time.  Renting in Niagara usually means an older apartment building that does not have in-suite laundry or the kind of services that will make it easier to live in place more comfortable and longer.  The first question should be, "what is the best way of getting what I need to ensure a good quality of life?"  It may mean using your equity to purchase.