For a lot of homeowners in Etobicoke, a condo is the perfect starter home. Not only do they provide a comfortable, high-convenience lifestyle, but the lower price point allows you to start building equity as you save up for your forever home.
Like any type of home, there will come a time when you will sell your condo in favour of something better suited to your current (or next) life chapter.
Here are five signs it’s time to sell your condo.
1. You’ve Run Out of Space
As a real estate agent myself, one of the most common reasons I see condo owners deciding to sell is that they need more space. Being compact is part of what makes condos a great place to live in the first place, however, as life changes, there may come a time when you simply need more space. If your condo is starting to feel cramped, it could be time to move on.
As a side note, selling your existing condo doesn’t mean waving goodbye to condo life altogether – even if you need more space. Sure, nine times out of ten someone who’s looking for more space will be moving up to a townhouse or house, but it’s not always the case. Etobicoke’s condo market has a lot to offer and with the right real estate agent by your side, you’ll probably be able to find something that’s better suited to your shifting needs.
2. Change is on the Way
Another reason to sell your condo is that you’re anticipating a major life change. This could mean having a family, starting a new job, or anything else that marks a new chapter in your life.
If you’re expecting a big life change in the near future, it’s a good idea to be proactive about selling. For instance, if you’ll be welcoming a child in a years’ time, it’ll be much easier to move now rather than later.
Need more tips on selling your condo? I’ve got plenty! Read these blog posts next.
- How to Get Your South Etobicoke Home Ready For Sale
- Mistakes to Avoid When Selling Your Etobicoke Home
- Everything to Know About Selling Your Condos in Humber Bay Shores
3. You’re Looking for a Change of Scenery
Sometimes there’s no reason to sell your condo other than you’d like to live somewhere else. This could be another unit or condo building, a different neighbourhood, or even another city entirely. If you’re in this boat, and have some flexibility around the timing of your condo sale, it’s best to get in touch with a real estate agent sooner than later. Working with your goals in mind, they’ll help you determine the right time to sell your condo in order to get the best result possible.
4. You Want More Privacy
One of the best parts of condo life is the community. When it comes to getting to know your neighbours and building lifelong relationships, few residential communities are as close-knit as condos. That said, condos aren’t always the most private. If you’re ready to find a home that feels personal and more secluded, it could be time to move on from your condo.
Making the move to another condo? You may find these blogs helpful!
- Is Etobicoke a Future Condo Hotspot?
- 5 Exciting New South Etobicoke Condo Developments
- What Are the Top Senior Condo Buildings in Etobicoke?
5. It’s Time to Upsize (Your Investment)
This one’s for investors. If you own a condo in Etobicoke and have been using it as a dedicated investment property, you’ve likely been building up a fair bit of equity over the past few years – along with the recurring income from your rental.
If it fits your personal and financial goals, you have the option to sell your condo and use the funds towards a larger investment property such as a detached house or multi-plex. That said, selling a tenanted property does come with some red tape. So, if you’re thinking about selling your condo, you’ll want to be aware of your rights and responsibilities regarding tenant communication, showings, eviction, and more.
Selling Your Condo? I Can Help
If you’re thinking about selling your Etobicoke condo you’ll want to work with a real estate agent who knows the area inside and out – like me! With more than 20 years of experience selling homes in this part of town, I’m deeply familiar with Etobicoke’s unique condo market. I’ve helped countless condo owners get a great return on their investment and find an incredible place to call home next – and I can do the same for you!
Selling your condo in Etobicoke or elsewhere? I can help! Call or text me at 647-239-7587 or send me an email at melissa@southetobicoke.com to get started.
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