Downsizing to a bungalow is one of the most common alternatives to a condo, and for good reason. Bungalows still have plenty of privacy, full-size kitchens (with full-sized appliances), main-floor living (with a main floor bedroom), and a basement for storage and extended guest stays. Today we’re going to cover the case for downsizing to a bungalow, along with the trade-offs against cheaper alternatives like townhomes or condos.
Why Downsizers Choose Bungalows Over Condos or Townhomes
Unlike a condo, a bungalow is a straightforward piece of real estate: you own the structure and the land it sits on, full stop. There’s no condo corporation, no shared governance, and no monthly fee. Condos come with a whole host of rules and regulations (for good reason, it takes a lot of order for 200 people to live in close proximity to each other), but a bungalow gets you the smaller space you need without sacrificing privacy.
Why our clients choose bungalows:
- Lower running costs compared to large homes: less space means less to heat and cool.
- Lower maintenance: fewer washrooms, fewer light fixtures, fewer things to break.
- Cheaper to renovate: a smaller home costs less to update.
- Traditional layouts and kitchens: unlike condos with compact kitchens and “European” fridges and stoves, a bungalow usually comes with a full-size kitchen built for real cooking.
- Privacy: unlike condos or townhomes, you share no walls with any neighbours.
- Pride and joy of maintaining your own property.
Finances on a Fixed Income
Since bungalows in Oakville and Burlington are freehold, your ongoing costs are simpler to track: property taxes, utilities, insurance, and whatever repairs come up, on your own timeline and budget. The trade-off is that a single large repair like a roof, a furnace, a foundation issue can land as an unplanned five-figure expense, where a condo spreads that cost across all owners through the monthly fee.
There’s a long-running debate over which is cheaper in the long run, and reasonable people land on both sides of it: Some believe it is cheaper to maintain a freehold home on your own, while others believe it’s cheaper to pay the maintenance fees in a condo.
What’s clearer is the appreciation picture: condo values can erode as a building ages and major maintenance projects push fees up, while bungalows in established neighbourhoods often hold or grow their value because the land underneath continues to appreciate. It’s common to drive around south Burlington or Oakville and see older bungalows being replaced by custom homes for exactly this reason. It’s significantly less common to see condo buildings being demolished and replaced by new properties, so the land-factor is less of a consideration.
So whether a bungalow or a condo is better for you financially comes down to your own finances and comfort. If you can comfortably absorb variable costs like a new roof or windows, a bungalow tends to be the stronger financial move long-term. If predictable monthly costs matter more to you than future value, a condo gives you that certainty.
- If you’re also considering downsizing to a condo, check out our guide: buying a condo after 65.
Accessibility: What to Look for Beyond “No Stairs”
The single-level layout is the main reason bungalows appeal to 65+ buyers, but it’s worth looking past the absence of stairs to the details that matter as mobility needs change over time: wider doorways and hallways, a step-free entry from the garage or front door, a walk-in or curbless shower, and lever-style door handles and faucets rather than knobs.
Few resale bungalows will have all of these already, and that’s normal. What matters more is whether the layout allows for reasonably straightforward retrofits later. It’s way easier to add door handles and grab rails than it is to remove front entry stairs or sunken living rooms.
The Bottom Line
Downsizing to a bungalow after 65 isn’t inherently simpler or more complicated than downsizing to a condo, it just shifts what you’re managing. A freehold bungalow trades the predictability of a condo fee for full control and full responsibility. Accessibility, financial predictability, purchase price, and privacy are all worth weighing before you buy.
If you’re exploring downsizing to a bungalow in Oakville or Burlington, we’re happy to talk through your options. Contact us here.
Frequently Asked Questions
Is a bungalow or a condo better for retirement?
It depends on what you’re looking for. A bungalow typically means no stairs while keeping a private yard and more control over maintenance timing; a condo means lower ongoing responsibility and lock-and-leave convenience, but less control and a monthly fee. We’ve broken down the condo side of this in our guide to buying a condo after 65.
Do I need a bigger down payment to buy a bungalow as a retiree?
Not necessarily, the standard minimum down payment rules apply regardless of age or property type. Many retirees put more down using proceeds from selling a larger home, which can also help offset ongoing costs on a fixed income.
What should I check before buying a bungalow for retirement?
Beyond the layout, look at the estimated life expectancy of major components, like the roof, the windows, the furnace etc. You need to consider the 5-10 year running costs of your bungalow before making a decision.
What is a better investment, a bungalow or a condo?
In the long-term, freehold homes historically appreciate more. Freehold homes also see less fluctuations in value compared to condos, which are more sensitive to market corrections because of the number of investor owners.
Thinking about a bungalow for retirement in Oakville or Burlington?
A bungalow can look like a simple downsizing move, but the real trade-offs are in long-term costs, accessibility, and resale value. If you want a critical eye on a specific property before you make an offer, reach out to us today.
