If your current home is starting to feel small, making the move to a larger space can make everyday life a whole lot easier. That being said, Etobicoke makes for a fantastic place to upsize thanks to the area’s abundance of spacious, family-oriented homes.
Upsizing to a new home may not be a small process, but that doesn’t mean it has to be stressful. If you know what to expect from the process, moving up the property ladder can actually be exciting and enjoyable.
To help you get started, I’ve put together this basic guide on upsizing in Etobicoke. You’ll find plenty of helpful insights on buying, selling, and everything you need to know to make things as smooth as possible.
Should You Buy a Home or Sell Your Home First?
When you upsize to a new house, you’ll have two separate real estate moves to make: buying your next home and selling the one you live in now. For a long time, deciding which of these steps you should take first was somewhat of a million-dollar question. However, in today’s market, it’s a little more black and white.
Nine times out of ten, I recommend selling your current home before you go shopping for your next one. Why? Right now, homes are taking a little longer to sell than they used to. As an upsizer, the last thing you want to do is commit to buying a bigger home, only to find yourself managing two mortgages because you can’t sell your current one.
That said, buying first could be the right move if you’re looking for a very specific type of home or something that’s relatively rare. But, if you really just need more space, selling first is the best way to avoid getting stuck with two homes at once.
Want to know more about buying vs. selling first? I wrote a whole blog post on the topic! Click here to read it.
Getting Your House Ready For Sale
When you’re ready to get the ball rolling on your move, the first step is to get your house market-ready. Right now, selling a home in Etobicoke will come with competition. So, if you want to sell your home for the absolute highest price possible, in as little time as possible, you’ll need to do some prep work.
Every home is different. However, there are a handful of basic steps to follow if you’re looking to get a great result on your sale. The first is a deep clean and declutter. If you’re currently feeling cramped in your home, there’s a good chance that potential buyers will also feel that way when they see it. Take the time to sort through your belongings and get rid of anything that you no longer need.
Once you’ve made your home a little more spacious, it’s time to spruce it up. This could mean making a few small upgrades like swapping out light fixtures, painting the walls, or finally looking after some of the much-needed repairs you’ve been putting off. Your real estate agent can help you decide which measures will give you the best market result.
Once you’ve got your home in tip-top shape, try to keep it that way. This can be tough if you’ve got little ones at home, however, it’s super important if you’re looking to really wow potential buyers.
Upsizing isn’t just about buying a new home. Be sure to check out these other blogs for advice on selling your current one.
- 5 Signs It’s Time to Sell Your Condo
- How to Get Your South Etobicoke Home Ready For Sale
- 3 Home Selling Mistakes to Avoid
Be Ready to Buy
Going house hunting can be a lot of fun, but it’s also a serious process. Just like selling, you’ll need to do a little bit of preparation before you hit the market. As an upsizer, there are two big details to sort out before you’re ready to buy – what do I need from my next home? And, what can I afford to send on it?
Before you actually start browsing homes, take time to make a wish list. Outline your absolute must-haves along with any other features you’d consider to be a bonus. As you do this, take time to think about which parts of your current home are no longer meeting your needs. This can help you avoid buying something that you’ll outgrow in just a few years.
When you sell your existing home first, you’ll have a much clearer idea of what you can spend on your new place. However, it’s still a good idea to get pre-approved for a mortgage first. With a pre-approval in your pocket, you’ll be able to shop with more confidence as you already know how much of a loan you qualify for. Plus, sellers may also be more eager to work with you since you’ve already proven your financial health.
About to buy a new home in Etobicoke (or anywhere else)? Check out these other blogs for even more helpful advice.
- What Are the Best South Etobicoke Neighbourhoods For Families?
- What Should You Know About Buying a Power of Sale Home in Etobicoke?
- Should You Buy a Tear-Down Home in South Etobicoke?
Don’t Forget to Work With a Local Expert
If you’re thinking about upsizing to a new home in Etobicoke, you’ll want to work with a local real estate expert – like me! With more than 20 years of professional experience, I have the unique insights to help you make the most of your move.
Ready to make the jump to a bigger home? 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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