Older Condo? Should You Upgrade or Sell?

If you’re like many long-term condo owners, the thought of packing up and moving elsewhere is not appealing in the least. As a long-term resident, you know the area inside and out, have your daily routines nicely organized, know all the owners of your favourite local shops, and your friends and maybe even family, are close by.

Well, first of all, you may not have to. With the rate of condo development in Toronto, the chance of finding a newer unit with better amenities and the features you want close to where you are now, is greater than ever.

As we get older, more and more of us want to ‘age in place’. That means we need a space that is accessible, safe and adaptable to our needs. It also means we need to be in a location that is close to everything we need, from shopping to entertainment to healthcare.

When considering the pros and cons of upgrading vs. selling, make sure you weigh all the factors not just for your current situation, but long term.

Upgrades can be expensive and you may not be able to make the changes you need to ensure your unit meets your accessibility requirements - now or in the future. For example, you may find that some doors cannot be widened to accommodate a walker or wheelchair. Or your building may have stairs that at some point are going to be an issue for you.

With the current market in Toronto, now might be a good time to consider selling and using the equity you’ve built up to purchase a more modern, more accessible unit with the features you want and in a location that suits your lifestyle and needs.

Take the time to look at what’s available, what areas you would like to live in, what amenities and features are important to you. Talk to me and I will start working to find units that meet your requirements and one that could be your next home.

Don’t wait until you are in a situation where you have to move and end up having to settle on something that is less than optimal.

And if you need a Realtor that gives you their full attention, respects your wishes, and will make the entire experience of both buying and selling as stress-free as possible, please give me a call on 647-716-1276 or drop me a line. I’m here for you.