If you’ve been thinking about buying a condo in Toronto—or moving into a larger one—this is a great time to make it happen. Prices have softened from their highs, but values are expected to rise steadily over the next five years. Buying now means more choice, less competition, and the chance to get ahead.
In today’s market, you have the upper hand:
- Bidding wars are rare
- You can add conditions to your offer — like getting financing approved or selling your current condo
- Units aren’t inflated from excessive demand
If you currently own a condo and are considering upsizing, the opportunity is even better.
While your current condo and future one may be down in value, the numbers work in your favour. For example, if your $600,000 unit is down 20%, that’s a $120,000 drop. However, a larger $1 million condo down 20% means a $200,000 drop—an $80,000 advantage when moving up.
This kind of savings isn’t possible in a hot market. Plus, when values rise again (as they always do), you’ll be in a larger, more valuable unit that appreciates even more over time.