I’ve had the same conversation several times over the past few months.
“Davelle, we’d like to move… but we’re waiting until the market gets better.”
I understand.
Selling your home for less than it may have been worth a few years ago doesn’t feel great.
But here’s what many homeowners forget.
If you’re buying in the same market, you’re benefiting from lower prices too.
In fact, for many move-up buyers, today’s market may be one of the best opportunities we’ve seen in years.
Don’t focus only on what you’re selling.
Look at what you’re buying.
Imagine your condo has declined by $175,000.
That feels painful.
But if the detached home you’re hoping to buy has fallen by $425,000 over the same period, you’ve actually narrowed the gap by roughly a quarter of a million dollars.
That’s the part many people overlook.
You’re not just selling in today’s market.
You’re buying in it too.
Why many homeowners are moving today
People don’t move because of the market.
They move because life changes.
Maybe…
- Your family has grown
- The kids have moved out
- You want less maintenance
- You’re caring for aging parents
- You simply want a different lifestyle
Life doesn’t always wait for the “perfect” market.
Fortunately, today’s market offers some advantages:
- More inventory
- More negotiating power
- Interest rates lower than they were at their peak
- A smaller price gap between condos, townhomes and detached homes
That’s why I encourage clients to look at the overall math, not just the sale price of their current home.
Buy first or sell first?
Another question I hear almost every week.
In today’s market, I generally recommend selling first.
Why?
Because you’ll know exactly:
- What your home sold for
- How much equity you have
- What your budget is
Then you can shop confidently.
Could buying first work?
Absolutely.
But only if your finances comfortably allow you to carry both properties for a period of time.
Every family is different, which is why strategy matters.
Next week…
We’ll dive into the financial side of moving, including:
- Can you take your mortgage with you?
- What is a blend-and-extend mortgage?
- When does bridge financing make sense?
- Should you break your mortgage?
- What closing costs do repeat buyers often forget?
These are questions every homeowner should ask before making their next move.
Have questions before then?
Give Steve or me a call. We’d be happy to walk through your numbers and help you determine whether moving today makes sense for your situation.
And don’t forget if you need to buy or sell, please call Davelle.
My First Home: How to Buy Smart in Toronto
Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto.
Want to Make This Market Work for You?
As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help.
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