Who is this guide for?
This guide is for Toronto condo owners ready to move up to a larger home, whether it’s a freehold, semi-detached, or a family-friendly townhouse. You’ve built equity, your needs have changed, and now it’s time to confidently take that next step.
Whether you’re growing your family, need space for a home office, or just crave a backyard and more breathing room, this guide will walk you through exactly how to sell smart, buy right, and move up smoothly.
The Most Common Challenges Move-Up Buyers Face (and How to Overcome Them)
1. “Do I Buy First or Sell First?”
This is the biggest question—and the answer depends on your timeline, financial comfort level, and the current market.
Strategy Tip:
If you can carry two mortgages temporarily, buying first gives you more control. If not, selling first and negotiating a long closing (60–90 days) gives you breathing room to shop.
2. “What if I Can’t Find the Right Home in Time?”
It’s a valid fear. The key is advanced planning and being pre-approved so you can act fast when the right home comes up.
Strategy Tip:
Target neighbourhoods and home types ahead of time so you’re ready to move when your condo sells.
3. “What Can I Actually Afford?”
Selling your condo unlocks equity, but how much of that is usable after fees, mortgage payouts, and taxes?
Strategy Tip:
Have your mortgage specialist and realtor run the numbers early. Knowing your net proceeds = buying with confidence.
The Real Costs: What You’ll Spend to Sell and Buy in Toronto
Selling Your Condo
Buying a House
Note: First-time buyer rebates no longer apply, but you may still qualify for portability or bridge financing solutions.
Best Practices for Move-Up Success
✔️ 1. Get a Market Evaluation for Your Condo
Knowing what your property is truly worth in today’s market is the foundation for everything that comes next.
✔️ 2. Get Pre-Approved Based on Projected Sale Proceeds
This helps you define a realistic budget for your next home before you list your condo.
✔️ 3. Prep Your Condo to Stand Out
From decluttering and staging to professional photography, these touches can help you earn tens of thousands more in your sale.
✔️ 4. Target Neighbourhoods That Meet Your Needs
Target neighbourhoods that match your lifestyle and budget, without stretching beyond your means. Work with an expert who can help you identify areas with long-term upside.
Thinking of leaving the city? I have trusted realtor partnerships province-wide and even Canada-wide.
✔️ 5. Use Bridge Financing to Buy First (If Needed).
Many banks offer short-term financing to “bridge the gap” between closings, giving you flexibility to secure your next home before you sell.
Is your mortgage portable? Speak with your mortgage professional to see if you can port your existing mortgage to avoid any penalties for breaking if it is not yet up for renewal.
✔️ 6. Line Up a Trusted Team
You’ll need:
What You Can Afford After Selling Your Condo
Here’s a simplified example:
Let’s say you own a Toronto condo valued at $750,000 with a mortgage of $400,000.
Estimated Net Proceeds:
This could be your down payment on a home in the $1M–$1.3M range, depending on your income and lender qualifications.
Your Next Step: Book a Free 30-Minute Move-Up Strategy Call
I’ll help you:
There’s no cost, no pressure—just clarity.
Ready to Move Up Without the Guesswork?
Pearse was such an amazing guy to work with, only have the best things to say about him. my wife and I were eager to get our first house and we found Pearse after already going through three realtors, he was great. He responded quick, booked viewings immediately, found every detail he could for us, just had such a drive to get us what we wanted and he did that exactly. We found the perfect home for us and he even managed to get the place for under asking. Can’t recommend him enough!
We had a fantastic experience working with Pearse as our Realtor. Pearse demonstrated an exceptional level of expertise and dedication to helping us find the perfect place for us. In this tough market, he was successful in helping us find what we were looking for and within our budget. I highly recommend him to anyone looking for a realtor who is highly professional, knowledgeable and dedicated to finding his clients exactly what they are looking for!
Pearse Murphy helped us to sell our home we had lived in for 35+ years. He was very easy to work with and very knowledgeable about the market. He promptly responded to all of our concerns and made us feel very supported during the negotiations. The closing process was seamless and stress free. We highly recommend Pearse Murphy as a real estate agent!
Monica and Randy
Made selling my childhood home very seamless!!!!!! Always replied promptly to my annoying frantic texts and helped me and my fiancé find our dream condo. Will only be going to Pearse for our next home :)
Pearse is the most professional real estate agent I’ve ever worked with. He is so easy to work with and really takes time to know his clients and what they’re looking for in a home.
Pearse is an amazing real estate agent and helped us find our first home. He provided great guidance and support during the process and always had our best interest. He worked fast and efficiently to help us find exactly what we were looking for. It was such such a pleasure to have him as our agent. We will definitely be using him in the future!
Thank you Pearse!
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