For owners of $2.5M–$3M condos
Planning your next property purchase. What should you do with the condo you already own?
You’re considering another purchase. But should you keep your condo, explore decoupling, or sell and put the money towards a different property?
Before narrowing down properties, let’s assess what your finances could support. We’ll start with the condo you own, the cash available and the monthly commitments you’re comfortable carrying.
Request a Clarity CallFor owners planning a purchase within 12 months. Start with the short form; I’ll contact you on WhatsApp to arrange a call.
CEA R067813F
What do you want your next purchase to achieve?
You might want rental income from another property while keeping the home you live in. Or you want more space for your family, while considering how the next property could appreciate.
Those goals affect which properties are worth considering. We’ll discuss how long you expect to own the next property, whether you’ll live in it and how much cash you want to retain.
Wanting to grow your property assets still needs to fit the loans you can comfortably carry and the living arrangements you’re willing to accept.
Compare what each arrangement would leave you able to buy.
Keeping your condo leaves money invested in it. Selling could release money for the next purchase. Decoupling is another possibility to assess, with its costs and financing requirements confirmed before proceeding.
We’ll work through the cash required, potential loan commitments and cash remaining under the arrangements relevant to you. If you plan to rent out a property, we’ll also consider periods without rent and the costs you’d still need to cover.
The initial discussion uses the figures you have. Detailed calculations and property recommendations follow once the necessary information is confirmed. Any proposed decoupling arrangement needs assessment with your bank and conveyancing lawyer before you commit.
A client’s decision · District 28
They planned to keep their condo. We also assessed selling it.
One family owned a four-bedroom condo in District 28 and wanted more space. They initially planned to keep it and buy a cluster house for over $3M under the wife’s name.
We also considered what selling the condo would allow them to buy. Keeping it meant leaving a substantial amount of their money in that property. Selling gave them a different budget for their next home.
They eventually sold and bought a five-bedroom landed home in both names for $4.188M. The structure was three years old, and they only wanted to redo the kitchen.
They chose to put their money towards a newer, larger home instead of retaining the condo alongside another property. That choice met their family’s priorities; another owner’s circumstances could support a different arrangement.
Read their full case studyWhat you’ll take away from the first call
- An initial view of what you could afford
Based on your available figures, cash reserves and monthly commitments you’re comfortable with.
- Which arrangements to assess further
Whether to investigate retaining the condo, decoupling or selling to fund a replacement, in light of your goals.
- What needs confirming
The missing figures, financing information or legal details needed before making a purchase decision.
Planning a property purchase within the next 12 months?
You don’t need to have decided what to do with your current condo. The call starts with your finances and what you want the next purchase to achieve.
Complete the short form below. I’ll review your details and contact you on WhatsApp to arrange a call.