This is not a political decision we are asking for here.
#wegetyoumoving and we would like to help you decide whether it is time for you to move or not.
Do we stay or do we go? When you first bought your home you may have thought this is a good start but someday you want your dream home. With today's hot Real Estate market in Etobicoke especially Central and South Etobicoke combined with low-interest rates and your equity built up in your first home there are a lot of pluses to mull over. Will the market change? The government are concerned so interest rates may start to go up. But the rest of the country isn't seeing the type of numbers that Vancouver and Toronto are. Immigration looks to be continuing with no slow down in sight. And that is without the possibilities of an influx of talent from the U.S. and Britain due to their extraordinary politics. Etobicoke is close to transit, air and rail which cuts costs in time and energies, two important commodities the buyers today need.
Your home is an investment, most likely your biggest ever. And as you move up to more bedrooms, more outdoor space, private driveways pride of ownership and increasing your investment become two factors that make sense.
Do you want to renovate in your current home? Can you renovate ? What will the costs be to you and your family in disruptions, like moving out. The stress of a renovation added to both parents working and the challenges of family life can be unsatisfying. Decisions made while under this stress can be compromised in many shapes and forms. Moving on up allows you the convenience of living in your old home while the new one gets retro-fitted to your current lifestyle. This way you only move once. The changing lifestyle can be enriching, exhilarating and inspiring. It may be easier to reflect this in a newer environment and you get the home you always wanted. Old memories will be cherished while new memories will be made. And in Etobicoke real estate is a very good investment, probably the best.
Downsizing seems to be a decision that requires many decisions related to lifestyle changes as well. Your health may need a good bungalow instead of the two-storey, the children have moved out, separation, divorce are all extenuating circumstances that lead to change. Instead of acquiring stuff you are trying to get rid of stuff. And not just stuff but less chores, maintenance and things like these that take up a lot of your valuable time. And Downsizing may add some liquidity to your finances as well as upgrade your surroundings in a new environment instead of the old one. You can eat into your equity here but with moving down your additional monies cuts down on the cost of borrowing at a time when your business life is slowing or income becomes fixed.
So you will need to invest wisely into this decision. Moving is just a byproduct and takes a little prep and labour. Change can be positive! To your mind, body and wealth!
Posted by Kathy Gordon on