Buying a New Condo: What Should You Consider When Upsizing?

Buying a New Condo: What Should You Consider When Upsizing?

Upsizing a home is a monumental decision because it involves substantial investment and requires you to consider essential aspects such as location, style, space, and comfort. Thus, there is a lot more effort and responsibility involved when it comes to moving into a bigger condo. In addition to this, with many new condo projects coming up in Toronto, it is crucial that you assess your options adequately to make the right choice.

6 Basics to Consider When Buying a Bigger Condo

  • Financial Stability
    Before looking at new condos for sale, it helps to know how much you can afford. Analyze and review your finances to ensure that you are ready because upsizing means an increase in maintenance and utility costs. Make sure you have the funds to meet these expenses.
  • Think About Upsizing Requirements
    It helps to think about your goals for upsizing. Consider the layout of the place you are presently living in and make a list of things that you’d want in a new condo. Also, keep your family’s lifestyle in mind before making the final decision. A few popular requirements include the following:

    • Gourmet kitchen
    • Spacious master bedroom with an ensuite bathroom
    • Lush outdoor spaces
    • Common utilities such as gym, lounge, and guest room
  • Be Sure You Need All That space
    Before you move forward with your upsizing plan, make sure that the features and rooms in the larger condo will be used. It helps to look for buildings that allow customization according to your tastes and preferences.
  • Location
    Location is one of the crucial aspects that you need to think of when upsizing your home. Buying a new condo in a good neighbourhood will ensure excellent safety and security measures. Also, keep in mind the following things:

    • Look for reputable schools in the area.
    • Consider the distance between the condo and your workplace, shopping centers, and more.
    • Ask about transportation facilities in the locality.
  • Long-Term Outlook
    when upsizing, be sure to adopt a long-term viewpoint. Also, try to anticipate any future requirements relevant to your family’s needs to ensure that you are making the right investment choice. It helps to ask the following questions:

    • Is there enough storage space?
    • Will the additional space work as a bedroom or a nursery in a few years?
    • Can I make any additions to the unit?
  • Consider the Resale Value
    Think of the resale value of the condo unit in case you decide to sell it in the future. It helps to analyze the condo you wish to buy from the viewpoint of future buyers. Also, consider the latest buying trends so your new home could pay off down the road.

The Davies Offers Beautiful New Condos for Sale in Toronto

New Condos for Sale in TorontoAt The Davies, we strive to offer new condos with exceptional amenities to our clients. Our suites are the epitome of sophistication and elegance and are known for artfully curated interiors equipped with state-of-the-art features. They come with a stylish lobby, 24/7 concierge service, fitness room, and more amenities to make your life comfortable.

For more information about our new condos for sale, give us a call at 647-360-9588 or fill out our online form to get details about the floorplans.

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