Making the leap from owning a condo to owning a full-on house is exciting – especially in an area like South Etobicoke where there are plenty of great homes (including bungalows and other starter homes).
That said, what a lot of people don’t realize is that the process of moving up to a house is usually a lot different from buying a condo on its own. As a move-upper, you’ll want to know about these differences before you jump in.
In this blog, I’ll go over a few key considerations about buying a house in South Etobicoke to help you get a sense of what you can expect when you hit the market. You’ll also find advice on how to find the best home for you and make a smooth transition into your new space when the time comes.
Selling your condo in Etobicoke’s Humber Bay Shores? I’ve got a special guide to help you make the most of your sale! Click here to read it.
A Different Type of Home Search
When you start looking for a house, one thing you’ll probably notice is that there’s more to choose from. While there are areas in South Etobicoke that are more condo-dense, there’s simply a greater number of detached homes. As a buyer, this makes it more important to know what is that you’re looking for in a house. It’s a good idea to narrow down your list of must-haves and nice-to-haves before you hit the market.
Making the jump from a condo to a house? You may want to read these blogs too – they’re full of helpful tips!
- How Much Does It Cost to Buy a House in South Etobicoke?
- Buying an Etobicoke Bungalow (And its Potential)
- The Best Etobicoke Neighbourhoods to Build Your Custom Home
Selling Your Condo
Another huge difference about navigating the market this time around is that you have something to sell. So in addition to the time and effort it takes to buy a home, you’ll be navigating the process of selling one. Multitasking isn’t always fun and there’s a lot that goes into selling a condo, however, if you have the right real estate agent by your side, you should be able to get through both steps without getting overwhelmed.
Making the Most of Your Equity
If your condo is the first piece of real estate you’ve ever owned, there’s a good chance that you were in a different financial position back when you first bought it. However, because you’ll be selling your existing condo, you’ll now have equity that you can use toward buying your house in South Etobicoke. So, instead of using just your personal savings, you’ll be able to use the proceeds from your condo sale in order to afford something bigger.
Looking for tips on finding the best home in Etobicoke for you? Read these blogs next!
- Should You Buy the First Home You See?
- Should I Buy a Home in Etobicoke if I Work Downtown?
- 5 Things to Know Before Moving to South Etobicoke
Be Ready For More Responsibility
One of the less exciting parts of moving up to a house is the increased responsibility. Not only does more space mean there’s more to take care of, but you’re also totally on your own when it comes to property maintenance, repairs, and any other hiccups that come up. Depending on your condo building, you may have been able to simply call the dedicated caretaker or maintenance person if something went wrong – but as an independent homeowner, finding the right help is totally up to you.
With that in mind, ask your real estate agent about contractors and handyman services when you move in. They should be able to recommend someone who is reliable and local to South Etobicoke.
Don’t forget the financial part of managing your home either. While most repairs or small fixes get covered by your condo fees, you’ll be responsible for keeping a budget and emergency fund for all things home maintenance.
Selling Your Condo and Buying a House in South Etobicoke?
Choosing the right agent for the job is essential in any real estate transaction, but it’s extra important when you’re buying and selling at the same time! As an agent who works and lives in South Etobicoke, I have my finger on the pulse of local real estate. I know the area’s neighbourhoods, properties, and of course, buyers and sellers better than your average Realtor.
Along with guiding you toward a smooth and successful condo sale, I can also help you find a great home for your next chapter – whatever your ideal house may look like.
Thinking about buying a home in Etobicoke? 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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