Downsizing is, at its core, a lifestyle-oriented transition. As the process is centred around moving to a new home, the outcome and implications of downsizing ultimately influence one’s everyday quality of life. 

For downsizers, selecting the right type of home is crucial for ensuring the next chapter of your life is as easy and gratifying as possible. As an experienced real estate team that directly specializes in supporting downsizers, we’re well-positioned to help. 

In this blog post, we will analyze various property types in Toronto and their suitability for downsizers. 

Condos vs Houses 

In the realm of Toronto real estate, the best housing options for downsizers can generally be separated into two categories – condominiums and houses. As both of these property types have their own advantages and drawbacks, each downsizer must consider their own unique needs and preferences while analyzing their options. 

The Convenience of Condos

Typically the most compact style of housing on the market, condos are well-suited to downsizers seeking a life of convenience. A reduction in square footage paired with professional property management contributes to less housework, fewer maintenance responsibilities, and a greater ability to travel without worrying about home upkeep. 

Beyond just providing greater freedom for homeowners, most condos offer lifestyle-elevating amenities such as fitness centres, social spaces,  on-site concierges, and more.

Pragmatic Homes

Some downsizers aren’t always looking for a significantly smaller but rather a more practical property. More specifically, one with fewer stairs. 

Downsizing to a smaller or comparable home offers a lifestyle far more similar to a family home but with a minor reduction in size and scale. Of course, transitioning to a new home can still offer new conveniences for downsizers. As an example, when moving somewhere smaller, less square footage means less time spent on cleaning, maintenance and other upkeep duties. 

Owning a house as opposed to a condo, can also offer greater flexibility in space customization. 

Searching for more real estate insights related to downsizing? Consider these other resources from our blog. 

Bungalows 

A more spacious alternative to condos, bungalows are an advantageous and common type of smaller housing for downsizers. With everything on the same floor, taking care of a bungalow is simple. Bungalows come with front and backyards. While this offers opportunities for leisure and relaxation, it does include certain maintenance considerations. 

What About Bungalofts?

An innovative evolution of the traditional bungalow layout, bungalofts offer a main single-floor living space with an elevated loft section rising over only a portion of the main floor. This loft can be used flexibly, as a dedicated sleeping area, home office, or guest space. 

While the dynamic nature of bungalofts offers its advantages, this property type isn’t suited to every downsizer. Accessing the loft area requires the use of stairs. To that end, the persistent ascension and descension of these stairs can introduce a greater risk of strain, discomfort, or injury for downsizers. 

Townhomes

Upon initial consideration, a townhome may be understandably appealing to downsizers. Occupying space between a traditional home and a compact condo, some downsizers assume this unique property will offer the best of both worlds. However, townhomes are rarely practical, especially for downsizers who are older. 

As slender multi-storey properties, life in a townhome requires the frequent use of stairs. Once again, consistent use of these stairs can increase the possibility of injury for downsizers. Instead, condos and bungalows are more accessible and present much less risk of at-home injury. 

Partnering with the right agent is critical to your success. Explore these blogs to learn more. 

Downsizing With Ramsay Group

At Ramsay Real Estate Group, we’re exceptionally well-versed in supporting downsizers. With our full-service approach, you can enjoy a seamless downsizing process that’s as hands-on or hands-off as you need.  

Taking a one-on-one approach, our team can help you establish a guiding timeline for your move. Even if you’re not looking to downsize for a year or longer, we can provide you with personalized, recurring guidance to help keep you on track. We can also facilitate the decluttering and moving processes on your behalf. Whatever you may need, we’re here for you. 

Searching for a dedicated real estate team that can guide you through your downsize? Ramsay Real Estate Group can help. To get in touch, click here to contact us by email or call 416.906.8366.

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