It may be that you are sick and tired of yard work and shovelling driveways. It may be that the house seems too big now that your kids have left the nest. Whatever the reason, many people are downsizing to a condo. If lately the idea has become appealing to you, here is a comprehensive list of the good, the bad and everything in between that you need to know before downsizing to a condo.
Pros of Downsizing to a Condo
One of the immediate draws to downsizing to a condo is the free time you will amass from not having to do tedious maintenance chores around your home. Goodbye pressure washing the driveway, au revoir weeding the flower beds, sayonara lawn mowing! Best of all, you will come to fall madly in love with the garbage chute. No more going out in your pyjamas and snow boots to take out the trash. You can now take out the garbage without feeling cold, on any day of the week! The chores that will be minimized will not be limited to outdoor duties, with less space there are fewer rooms for you to clean in your home. You now have more time to engage in the activities that enrich your life rather than maintain your life.
Many buildings also include amenities that make winters that much more enjoyable. You no longer need to bundle up to go swimming or work out if your building has a pool or exercise room. Also, if you are looking to host parties but are concerned that you will not have room for everyone to fit into your new condo, most buildings have a community or party rooms that can accommodate dozens of people easily. Scout around to see what is important to you, you might find that having a movie room or a tennis court is very important, but that having an outdoor patio might not be.
Cons of Downsizing to a Condo
When looking at condos if you are a pet owner, always ask your agent beforehand if the property is pet-friendly. Some buildings only allow pets of a certain size, whereas others don’t allow pets at all. Take into consideration your pet’s needs as well. If you have a very big dog the square footage of your condo is important as some dogs will suffer without space to run around and play. Another consideration to keep in mind with pets is your pet’s comfort with elevators. If they have lived in a residence with stairs their whole life they might be anxious about elevators so keep in mind that they might need time to become used to the idea.
Beware of condo envy. When moving into a condo, many of your new neighbours will ask which unit you live in. It is important to know that there are a variety of floorplans available in each building. Some might have a better view or more square footage than yours. Pick what is best for you and own that decision. You are moving into something that suits your needs and ignore any nonsense that can come up from the Joneses.
The In-Between
Groceries are a whole new ballgame in a condo. Gone are the days where you can park your car in the garage and simply carry them into the kitchen. You might have stairs you need to walk up or you might have to use an elevator to get to your home. A great alternative to the weekly big shop is to do several little shops throughout the week. Just be careful that with frequent shops you might be tempted to buy more or spend more on gas, so this requires an adjustment (but might, in the end, be perfect for your lifestyle!).
The size of your condo might affect your level of involvement in its community. The bigger the condo complex, the less likely you will have to serve on the building’s board of directors. However, a smaller complex might be in need of a director, treasurer or secretary. Serving on a board need not take up ample amounts of time in your life, but you will be a part of making important decisions regarding the upkeep of your building. If you have no desire in figuring out hallway carpeting or new guard rails, consider moving into a larger building. For others, this is a great job to take on in retirement!
Last, but not least, when downsizing to a condo keep your floor options open. Some people only want to live on the highest floor with the best views, others want to be squarely in the middle, and others still want to be as close to the ground as possible. Before you firmly plant yourself on one side of the fence visit each type of suite. Know that the higher you go, the more you pay (because the views usually do improve as you climb the stories). In the same breath, the closer to the ground you are, the more it feels like living in a house, which can make the adjustment that much easier. Though it might not have been your intended destination, you might be surprised with what you end up liking versus what you thought you would prefer.
Is downsizing to a condo for you? You may consider downsizing if:
- You are not using most of the space you have now. (i.e. you have 2-3 bedrooms empty or set up for visitors).
- You find the time and effort needed to maintain your home and yard to be a burden.
- You hope to travel more and want the freedom to be able to leave without worrying about your home.
- You want amenities and a convenient location.
- You want to simplify and save.
No two condo buildings are alike; know what you are looking for:
- Know your preferred location; how close you want to be to transit, shopping, hospitals, etc.
- Decide whether you prefer a high-rise or a low-rise building, an older building or a new development.
- Understand the monthly expenses associated with the building and what amenities are offered.
It is important to remember that downsizing is not downgrading–here are some things to consider when organizing your belongings and preparing for downsizing to a condo:
- Write a list of all the items in your home that you cannot live without. Instead of focusing on what you will not be able to keep, think about all the things you will be taking with you. Make sure that you are only sticking with your favourite, most necessary items.
- Find a place for everything. Everything is going to be moved–whether it is to your new place, to the recycling bin, garbage or to a new owner. Keep organized by labelling four bins: ‘To Keep’, ‘To Sell’, ‘Donation’, and for the items that should have been thrown out a while ago, ‘Recycling/Garbage’. Everything in your home will be organized into these four categories. While sorting, keep in mind that you will ideally be eliminating between one third to one-half of your belongings.
- Start organizing early. Give yourself at least three months to go through all your things. Do a little bit every day or at least once or twice a week. This will allow you to work at a leisurely pace and will ensure you do not get overwhelmed.
- Start with the less-sentimental items. A good place to start downsizing is the kitchen- the kitchen is usually one of the first places to get cluttered and the items found there do not usually have a lot of sentimental value. It will be easier to purge there and it will feel good to get the ball rolling.
- Know the dimensions of your new home. Get a feel for the size of your new rooms by comparing them to your present home. Get a good idea of what will fit (and what will not!). Use floor plans to pre-arrange furniture. If you do not have plans, draw them and sketch in a furniture layout. Be realistic with your plans and forgo the hassle of moving items that will not work in your new space.
Living in a condo can provide you with an instant community that a detached home lifestyle might not provide and it can come with an instant social calendar that you might be interested in! I hope these tips and thoughts will be helpful when considering downsizing to a condo. For some great condos to get you started, please do not hesitate to check out my listings page. Happy condo hunting!
