Is It Time to Downsize or Upsize? Explore Your Home Options

At some point, many of us begin to wonder—is this home still the right fit for me? Maybe your house has started to feel too big and overwhelming, or perhaps your family has outgrown your current space. Whether you’re thinking of downsizing for a simpler lifestyle or looking to upsize to accommodate more room, knowing your options is the first step toward finding the perfect home for your needs.

According to recent stats, 37% of Canadians are considering downsizing, while 25% are looking to upsize. So, if you’re feeling like your home just isn’t working for you anymore, you’re definitely not alone.

Is Your Home Too Big?

As we get older or as our priorities shift, maintaining a large home and yard can feel more like a burden than a blessing. Maybe you’ve got a big home repair on the horizon, and the idea of tackling it is daunting. Or perhaps you’re realizing that you’d rather spend your time and money on experiences—like visiting family and friends, taking that dream trip, or diving into a new hobby—instead of maintaining a home that’s larger than you need.

Considering downsizing? Here are a few options that might fit your new lifestyle:

• ADUs (Accessory Dwelling Units): These small, self-contained units on your property are a great way to downsize without giving up your familiar surroundings.
• Condos or townhouses: Perfect for those looking for less upkeep, condos and townhouses offer the convenience of a smaller space while still having access to amenities.
• Age 55+ communities: Designed for active adults, these developments often feature community activities and amenities that make life easier and more enjoyable.
• Shared living options: For those who like the idea of having a close-knit community, shared living offers a unique way to downsize and stay social.

Or Is Your Home Not Big Enough?

On the flip side, many families find that they’ve outgrown their current home. Whether it’s the kids needing their own space, or you suddenly realizing you need room for a home office or a gym, an undersized home can feel cramped and frustrating. If your house is bursting at the seams, it may be time to upsize.

Looking to upsize? Here are some ideas to consider:

• Larger condo or townhouse: If you love the convenience of condo living but need more space, larger units or townhouses could be your solution.
• New home constructions: With new builds popping up all over, you may be able to find a home that’s tailor-made for your growing needs.
• Existing homes for sale: Sometimes, an older home with more space and charm fits the bill perfectly.
• Home addition: If you love your location but need more room, consider adding on to your current home to create the space you need without moving.

In fact, new construction is booming—2023 alone saw 37,915 single-family homes and 57,121 condos being built in major metropolitan areas. The options are out there!

Ready to Take the Next Step?

There comes a time when many of us start thinking seriously about whether to stay put or make a move. Downsizing or upsizing is a big decision, and it’s important to explore all your options before making the leap.

A few tips to get started:

• Talk to people already living in the community you’re considering. This will give you a real feel for the culture and vibe of the area. I can connect you with local resources to make this process easier.
• Do your research online. Town and city websites, social media groups, and community forums can provide valuable insights and reviews.
• Create a list of your “must-haves,” “nice-to-haves,” and “dealbreakers.” This will help you compare different homes and communities to see which one will best fit your needs.

If you’re thinking about making a change—whether it’s downsizing, upsizing, or relocating to a new area—we’re here to help! Feel free to reach out with any questions, and if you’re moving to a different city, we can connect you with a trusted agent in our network. Let’s work together to find the perfect fit for your next chapter.