In a blog that I posted some time ago, I shared that I was working on my registration as a realtor. This is my announcement that, as of July 4, 2018, I can get out there and begin trading real estate. So if you are looking for a realtor, or know of someone who is, please consider passing on my contact information. My cell phone is 905-746-1750 and my e-mail is ken.tigchelaar@homeandproperty.ca .
I’ve had opportunity, as I worked through the real estate courses, to give some thought to where I want to get involved. There are many directions to take in real estate and the one thing that is pretty clear to me is that there is no way to be an expert in all types and markets. So I’ve narrowed my focus to Commercial and will likely focus on multi-unit housing. That’s not to say I can’t sell a house, or a business if that’s what the client needs. I’ve built a house and done extensive renovating so I do know how a house is put together, and I have operated a small business. But I am going to be deliberate about building my expertise in Commercial and, specifically, larger housing projects.
My main motivation relates back to the decision to focus on poverty issues in retirement that has gotten further distilled down to affordable housing. This is a topic that is getting a lot of play in light of the way the housing market has broken so many records over the past 5 years and left many people behind, exacerbating a problem that was already quite acute. I feel like this area is a good fit for my interests and the skills that I have developed over the years.
I’ve also been thinking about creative ways to make housing more affordable and adaptive to the realities of today’s market. One of those ideas is co-housing and trying to promote the concept of integrating affordable housing units into a market rent situation by agreeing that individuals will make a contribution to the community as a condition of access to the affordable units. This scenario would provide younger people (single moms/dads, young couples, students) with an opportunity to access affordable units that are subsidized by seniors, or seniors-to-be, who have capital and a desire to age in place. In return for the support on housing cost the recipients of that support would volunteer a certain number of hours a month to help out with the chores of life and dealing with the isolation that can often plague seniors who find themselves alone in a big house and want to change their situation. Chores of life could include vacuuming, gardening (perhaps gardening together in a community garden), getting groceries. And mitigating isolation could mean time committed to playing games together or preparing and sharing a meal. The younger people benefit from the wisdom of the elders and support in the cost of housing. The seniors would benefit from a level of support that might enable them to remain in their situation longer. They could also have the satisfaction of knowing that a portion of their capital is providing an opportunity for young people to find their way back into the market.
There is lots of flexibility in how such an arrangement could be structured, and I will always be open to creative dialogue, but one of the situations I imagine is a condominium complex that is built with community features such as a common kitchen, community garden etc. Everyone would have their own space (unit) in a structure that is built in a way that is deliberate about creating community. Such a complex would include a percentage of units that are subsidized by grant money, investors money, patient capitaI, or any other creative ways of raising capital. These units could be owned by investors and rented out at affordable rates, or even Rent to Own. The primary objective would be to create a situation where the generations are helping each other get through life. Each bringing what they have to contribute. I would love to discuss this further with anyone that is interested.