Upsizing in this market
I was doing some reading this past week and I came across an interesting article talking about upsizing in a down market. The article compared the idea to the tide coming in and taking all the boats out to sea. The idea here is that whether you're a big boat or a small boat, the same effect happens.
Relating this to the Real Estate market goes like this. If you're a large property or a small property, there's essentially a uniform percentage fall on prices. For example, if everything in the GTA is on average down 10%... you would lose $30,000 on the sale of your $300k home and you would save $50,000 on your $500k home. This would mean that now is a good time to upsize. You're savings is greater than your loss!!
I like symbols and I thought this was a good analogy. Looking to upsize? I'm never too busy for a referral!