Not Ready For Condo Life? Alternatives For Downsizers

05.29.23 | Downsizing

For many downsizers in Toronto, transitioning to a smaller home often means moving into a condo. While there are plenty of amazing properties that offer a high quality of life, easy access to the essentials and on-site amenities, not every home seller will be ready for condo living – and that’s okay!

As a long-serving real estate team in Toronto’s vibrant core, we know the ins and outs of every type of property on the market – and then some. It’s our passion to help buyers of all backgrounds, including downsizers, find the perfect home. 

With that in mind, this blog post will look at some of the housing alternatives for downsizers that aren’t condos. Let’s get started. 


Looking to maximize the sale of your Toronto home? We’ve got you covered. Check out these blog posts. 


Rightsizing Not Downsizing

To us, rightsizing is all about creating a living space that’s perfect for you, at any stage of life. With that in mind, transitioning to a smaller or more compact home should ultimately reflect your needs, tastes, and long-term vision. 

Regardless of which type of home will be best for your next chapter, the same overall benefits of downsizing will apply. For instance, moving to a smaller property usually allows downsizers to free up some of the equity they’ve built in their existing home. This wealth can then be factored into your future financial roadmap, such as your planning for retirement. 

Downsizing can also lead to a cleaner, more simplified lifestyle. Speaking generally, moving to a home with less square footage means less time spent on chores like cleaning and maintenance – giving you more opportunities to engage in activities you enjoy most.  

Ready to find your next home? Click here to download our complete guide to rightsizing. 

Exploring Alternatives 

Smaller Homes

If you’re ready to downsize from your current property but aren’t looking for anything too compact just yet, there’s always the option of simply buying a smaller home. This route allows you to shrink down your space, maintenance duties, and costs, all without a drastic change in lifestyle. 

The best part? Many of these smaller homes are found in Toronto’s historic core. Click here to read our blog on what to know before you buy a home downtown

Townhouses

Townhouses, also called townhomes are another great alternative for downsizers who are looking for a little more space. What makes this unique type of housing particularly suited to downsizers is that they’re almost an exact hybrid of a condo and a regular home. 

Unlike a detached or semi-detached home, townhouses belong to a board much like a condo would. With that in mind, they share a handful of the same conveniences (and fees) of a traditional condo but with a little more square footage. 

Garden Suites

Garden suites are a newcomer in the Toronto real estate landscape. Although they may be the least common option on this list, it’s not because of a lack of benefits. 

As a rightsizer, your options for living in a garden suite are twofold. The first option is to sell and find a for-lease garden suite that’s ready to be lived in. Or, if your current property has the space, you could build your own. Then, after moving in, you’ll have the option to rent out your current home to earn some great passive income. 

We interviewed Marty Steele from Laneway Housing Advisors, who do fantastic work to help educate homeowners on the process of building garden and laneway suites in Toronto. Click here to read


Buying a home in downtown Toronto? You’ll want to work with a knowledgeable real estate agent. Visit these blog posts for helpful tips. 


Guiding Your Journey

Rightsizing is a little more complex than your average move. That’s why we’ve created a dedicated system to make the process as seamless as possible for our clients. 

Our approach to rightsizing is end-to-end. We understand both parts of the process – selling and buying inside and out. It’s our goal to not only help you achieve a great result but to also take the weight off your shoulders. We’ll coordinate all the logistics and moving parts on your behalf so you can focus on enjoying your transition. 

As an experienced and collaborative real estate team, we can help you navigate the process of rightsizing. When you’re ready to begin your next chapter, click here to get in touch.