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How to Downsize to a Midtown Toronto Condo in 2016

 

 Mid-town Toronto condos

Search central and midtown condominiums

 

“We want to downsize to a condo in 2016.”  


Selling your house and buying a condo apartment is elective. You don’t have to move, but trading the responsibilities of home ownership for the relative freedom of condominium living is a very attractive option. The best time to make such a decision is when you are old enough to appreciate leaving the snow and gardening behind and still young enough to enjoy the travel and worry-free absences from home that condominium living affords.


If 2016 is your year for a renaissance in housing, here are the steps I would recommend you take:


1.    Ask your real estate agent to give you a Comparative Market Analysis (CMA) on your home. A CMA is a look at recent sales of similar properties in your area with an assessment of how your property should be priced when it is listed for sale. Knowing the value of what you own can help you decide what you are willing to spend.


2.    Tell your agent as specifically as possible what is on your wish list. Armed with this information, he/she will be able to begin identifying possibilities. If you want a 2 bedroom, 1500 square foot condominium apartment in Lawrence Park, your agent can zero in on properties that meet those specifications. If your list includes Yonge and Eglinton, Yonge and St. Clair, or Yorkville, your agent can search those neighbourhoods too. If your heart is set on a Rosedale-area condominium with a 24-hour concierge and valet parking, you can receive alerts only for buildings that fit your criteria.

 
3.    Many people end up wanting to live in a specific development. The best apartment-buying decisions include an evaluation of the building itself. While all condominium purchases are conditional upon the Buyer being satisfied with the Status Certificate and related documents, ask your agent if access to such information before making your offer is possible. Advance knowledge of the Status can be most helpful.   


4.    Start the process of decluttering your house and its basement now. Condo buying is an opportunity-driven event. When you find the right place, you will want to sell your present house quickly. This will be much easier if the heavy lifting has already been accomplished.  


The key to a stress free move is being prepared. “Why wait for spring?...Do it NOW!” When spring does come, you will be ready.

 

Best Wishes for Success,

Peter


Are you ready to trade your home for a midtown condominium? Contact me and I will help you in your search.

Previous Articles

 

Rosedale, Lawrence Park and North Toronto Real Estate Report

A look at 2015 property values in three neighbourhoods

 

Knob and Tube - No Band-Aid Solutions

Does your North Toronto home's knob and tube wiring make it a hard sell?
 

Downsize to an Annex Condominium

How empty nesters can find their perfect next move.

 

Forest Hill Q3 Real Estate Report

Prices and trends for Forest Hill houses and condominiums.

 

Five Things Lawrence Park Downsizers Can do to Beat the Condo Crunch 

Strategies for empty nesters in Toronto's central neighbourhoods.

 

Buy the House, not the School

A North Toronto or Lawrence Park dream home may not get your child in a dream school.

 

High End Selling Well in Toronto

Real estate priced between $3 and $4 million moving quickly.

 

Toronto the Good gets Better

Why Toronto is now a great place to call home.

 

The Price is Right

When negotiating for Toronto real estate, it pays to focus on the price.

 

 Rosedale Quarterly Report

The price performance of homes and condos in Q3, 2015.

 

Fall Real Estate Report 2015

Benchmark detached house prices show strong performance.

 

What is my House Worth?

The art and science of pricing Toronto real estate.

 

Mortgage Defaults Near Zero

Most Canadian households on track to total home ownership.

 

 Real Estate Listings: Toronto vs. New York

The Big Apple has everything... except Multiple Listing Service.

 

 When is a Deal Firm?

When selling your house or condominium, the answer may depend on where you live.

 

Rosedale-Moore Park House and Condo Price Report

A look at the market in Q2, 2015

 

When Will Toronto Real Estate Prices Correct? 

House and condo prices will not change substantially unless interest rates do.

 

Mid-Town Condo Sales Robust in Summer

Condominiums moving well, but downsizers and families still not getting the units they need.

 

Toronto Market High Risk?

A report calling the real estate market "high risk" may not have factored in what's great about Toronto.  

 

Where is Toronto's Best Real Estate?

Which Toronto neighbourhoods will become the new Rosedale or Forest Hill?

 

Real Estate Prices Perform Seasonal Dip

Home prices dip below June's high as some Buyers and Sellers take a break.

 

Spring Market Still Going Strong in Late Summer

High demand means Buyers still searching for Toronto real estate.   

 

Enjoy the Home You Have

Most people live with their house's imperfections until resale.  Is it time to ask yourself why?

 

July, 2015 Toronto Market Report: A Tale of Two Cities

Midsummer real estate saw two very different markets, depending on where you looked.

 

 North Toronto House and Condo Price Report

North Toronto home values rose sharply in Q2, 2015.

 

Lawrence Park has Less Than One Month of Housing Inventory

This coveted Toronto neighbourhood is desperately short of houses for sale.

 

Toronto House and Condo Sales Unfazed by Summer

Traditionally, the real estate market contracts in July. This year, they forgot to tell Toronto.

 

North Toronto Real Estate - Summer, 2015

Even in mid-summer, the market for family homes is busier than you think.

 

What Does a Real Estate Agent Do?

Sellers and Buyers shared what they want from their Agents. The results are unexpected. 

 

Will the Red-Hot Market Cool Down?

May, 2015 was a peak month in real estate.  Will the boom last?

 

Investment Property as a Retirement Strategy

Seniors seeking to finance their retirement with real estate will want to make the right choices.

 

 

 

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Peter Russell - Chestnut Park Real Estate Ltd., Brokerage
1300 Yonge Street #100
Toronto, ON, M4T 1X3
(416) 706-3200
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