Home Contact Sitemap login Checkout
The Procenko Team
  • Home
  • For Sale
    • For Sale
    • Residential
    • Commercial / Investment
    • Condos - Pre Construction
      • Condos - Pre Construction
      • The Design District, Hamilton
      • Luxe London by Society Condos
      • The Davis - ONLY New Condo in Newmarket
      • Television City
      • Transit City Condos
      • M City Condos
      • Seasons II Condominium
      • VIDA Condos
      • Seasons Condominiums
      • Icona Condos in Vaughan
      • Grand Cornell Brownstone
      • ICON Student Condos in Waterloo
  • RightSize
    • RightSize
    • Progressive Euchre - Stay Connected Beyond the Cards
    • Progressive Euchre Tournament - May 10, 2025
    • Events, Seminars and Webinars
    • Request a Rightsizing Consultation
  • Services
    • Services
    • Buy
    • Sell
      • Sell
      • Ultimate Home Seller's Checklist
    • Invest
    • Land Transfer Tax Calculator
    • Helpful Links For Your Move
    • Service Providers
  • Blog
    • Blog
    • Housing Market & Trends
  • Team
    • Team
    • How We Differ
    • Community Involvement
    • Our Guarantee
    • Happy Clients
Print This Page

Why Now Might Be a Good Time to “Move Up” to a More Expensive Home

If you’ve been thinking about upgrading to a larger home, now may be a good time to explore your options. The Toronto real estate market is shifting, and several factors are making it more accessible to move from a townhouse to a detached home.


While townhouse prices have remained relatively stable, detached home prices have come down. At the same time, mortgage rates are beginning to ease. Together, these trends create an opportunity for homeowners looking to make the transition to a more spacious property.


What’s Changed in the Market?

  1. The Price Gap Between Townhouses and Detached Homes Has Narrowed

In recent years, the price difference between townhouses and detached homes made moving up a challenge. Today, that gap has become more manageable.


For example:


In 2022, a typical townhouse might have been priced at $950,000, while a detached home averaged around $1,500,000—a difference of $550,000.


Today, that same townhouse might be worth $900,000, while a detached home has adjusted to $1,200,000—reducing the gap to $300,000.


For those considering a move, this shift means that upgrading requires less of a financial stretch than it did a couple of years ago.


  1. Lower Mortgage Rates Are Easing Borrowing Costs

After rising over the past few years, mortgage rates are gradually coming down. A small reduction in interest rates can have a meaningful impact on monthly payments, making it more affordable to take on a larger mortgage.


For example, a 1% decrease in the mortgage rate on a $1,000,000 loan could lower monthly payments by $500–$800, making the cost of upgrading more manageable over time.


  1. A Calmer Market Means More Opportunities for Buyers

The real estate market has been quieter recently, giving buyers more time to explore their options and negotiate favourable terms. However, as mortgage rates continue to ease, demand may start to increase again, which could put upward pressure on prices.


For those considering a move, the current market conditions offer the chance to take the next step without the competitive pressures seen in past years.


What This Means for You

If upgrading to a detached home has been on your mind, the current market presents an opportunity to make that move under more favourable conditions.


Of course, every situation is different, and the right time to move depends on your personal goals and circumstances. If you’re curious about how these market changes might apply to you, we’d be happy to talk strategy and see if this is the right time for you.



Office Location


Century 21 Leading Edge Realty Inc., Brokerage 165 Main Street North Markham, Ontario L3P 1Y2

 

         


Get In Touch


Direct:     (905) 472-7155
Office:     (905) 471-2121
TF:           (800) 362-0893
Fax:         (905) 471-0832

Online Resources


MLS Home Listings
Free Home Buyers Guide
Real Estate Reports


Century 21 Online Listings
Visit Century 21 Website
© Procenko. All Rights Reserved. Built on ShoutCMS