Is It Time to Upgrade to a Luxury Condo?

Buying a house was the right decision for you at the time, and the purchase you made worked... for a while. But as time has passed, you’ve started to wonder if it’s still the right home for you.

Needs change over time, and so do lifestyles. Maybe you’ve been noticing the neighbourhood isn’t right for you anymore. Perhaps your once-perfect house is getting too small or takes too much time and work to maintain. Either way, it sounds like it’s time to consider upgrading your lifestyle.

A luxury condo can be an ideal solution to your changing needs. Not only will you be able to shed the regular cost and time spent on maintaining a house, but you’ll be able to upgrade your space, your style, and your recreational activities.

Here are some reasons it could be time for you to consider upgrading from your home to a luxury condo. 

Is It Time to Upgrade to a Luxury Condo? Home Office ImageYou Need A Dedicated Workspace At Home

Whether you’re now working from home full-time or simply need a dedicated space within your house to work, your current home doesn’t have the room to create this space. 

In a luxury condo, not only will you have the space for your family’s activities, but you can choose a model with extra flex space or a den that can be used as a home office.

You Spend A Lot Of Time Dreaming (Or Having Nightmares) About Renovations

The house you live in now just doesn’t suit your needs anymore, but the thought of renovating your home is too daunting…

You know how you want to design your home, modernize it, reconfigure it to suit your changing needs, but you also know that means living in a construction zone for an undetermined amount of time. 

In a luxury condo, you’ll not only have your dream space and style, but you won’t have to endure endless renovations to get it.

Market Conditions Are Ideal

Amid a seller’s market, you can earn top dollar selling your current house. This allows you to cash in on the equity you’ve worked so hard to build and use it to create more financial freedom.

You’ll have options on how to use these funds: invest more in your luxury condo to get the exact home you want, stash it in a savings account, invest in mutual funds or your RRSP, or take advantage of your newfound freedom from home maintenance and embark on new recreational activities. The possibilities are endless!

Interest Rates Are Still At Record Lows

For the past several years, mortgage interest rates have been lower than they ever have been in history. With an uptick in market demand for new homes, this will change. Taking advantage of these low interest rates while they’re still available will save you tens of thousands of dollars in interest over the life of your mortgage.

Is It Time to Upgrade to a Luxury Condo? Roof Repair ImageYour Current House Needs Major Upgrades

It’s one thing to simply want to paint walls to freshen up the feel of your home, but it’s another if you need to add square footage, move walls, or fix a cracked foundation. The cost and time it will take to upgrade your home may not seem worth the effort if it still isn’t quite the right home after all the work has been done. 

If you’re looking at the need for a new roof, replacing appliances, or even upgrading windows, it may be a smarter decision to sell your home and invest in a luxury condo. Your condo will already have modern finishes, new appliances, and far less maintenance is required.

You Want Your Kids To Have Access To Better Schools

The neighbourhood you live in now may not be ideal for your kids’ education. Maybe you purchased the home before having a family and schools weren’t on your radar, but now that they’re school age you’re looking for better access. It may be time to consider moving to a more suitable community where your family will have access to public transit, better schools, and more green space for them to stretch out.

The house you purchased may have been ideal for you at the time, but as your needs change your home doesn’t. A luxury condo can meet all your needs in terms of cost of living, modern style, adequate square footage, and improved lifestyle options. Why not consider trading in your high-maintenance home for the freedom of a luxury condo?.

Click here to download 8 Signs You're Ready to Downsize to a New Condo now

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