To Downsize Or Not To Downsize
Should you stay in your large home or should you downsize to a condo? It’s a question that many empty nesters are grappling with as they ponder their future. Many friends you know may have decided to sell their large luxurious homes in Oakville and move to a condo. But is it right for you?
It can feel like an acknowledgement that age is catching up to you and this can be a reason why many delays the decision. Whether you are embracing the next phase of your life or going kicking and screaming, there are a few questions you can ask yourself to see if a move to a condo is a good idea.
Do you need all the space that you have now?
For many who have several bedrooms that are not being used except for the occasional visitor, downsizing seems attractive. Less home to maintain means more free time. For people that have lots of friends and family that visit, the extra space is a necessity.
Do you love the storage options of your large home and have furniture stored in your basement from family members? Many people can’t see themselves without ample closet space not to mention a large basement.
Moving to a condo means leaving a lot of your ‘stuff’ behind. This can be emotional especially for those with a more nostalgic bent. The dining room chairs you inherited from your grandmother might have to be donated to charity. Also, much of furniture that you have may not fit in the new condo space or may not suit the space.
So the bottom line is: are you craving a fresh start? Can you change your furniture décor and give up belongings without difficulty?
Do you want to spend a significant time in a warmer climate once you retire or spend several months of the year travelling?
A condo is perfect for this type of retirement. You can lock your door and head to Florida or Arizona for six months with little worry about lawn cutting, snow removal and other home maintenance issues.
If your retirement involves gardening or relaxing in the backyard by the pool, a condo may not be an option for you.
Will you enjoy a condo lifestyle?
Living in a condo means there will be rules to ensure the property is maintained to a high standard. While this is a good thing, it may curtail the activities that you like. You may not be able to take that late night swim or have parties on a regular basis. Also, you may not have the privacy you enjoy.
On the other hand, you don’t have to put out the garbage and recycling on those cold winter mornings if you live in a condo. You can enjoy the amenities of the building you live in whether it is the exercise room, rooftop terrace or theatre room. In addition, many condos are located in downtown areas which allow you to walk to restaurants and shops. This can be a big plus.
What does it cost?
In markets such as Oakville, many will find that the price of the luxury condo that they want to move into is close to the same price as their current home. They may be reluctant to leave their home if the price is similar.
It is important to weigh all the factors on both sides of the equation. How much does it actually cost to maintain your home? It is easy to underestimate the cost of hiring help etc. You must also factor in the inconvenience factor of dealing with home issues. Also, do you do your own home maintenance and do you enjoy it? Will you physically be able to continue doing it?
On the condo side, you must assess the condo fees and what they include. Can you afford to pay the fees in the luxurious building that you want to live in?
The question of downsizing is not an easy decision. It is especially difficult to leave your home if you have lived there for a number of years and have many fond memories. For many people, a move to a condo will never be the right one. The decision requires a take a close look at yourself and decide what is important to you. There is no wrong answer.
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FALL MARKET KICKOFF: September 2025 Real Estate Market Update
As summer winds down, the Greater Toronto Area (GTA) real estate market is shifting once again—this time with an important boost from the Bank of Canada’s recent interest rate cut. On September 17, 2025, the Bank lowered its policy interest rate to 2.5%, marking a significant move that is expected to reinvigorate buying activity across the region.
Market Snapshot: August 2025 (TRREB) 
According to the Toronto Regional Real Estate Board (TRREB), August brought encouraging signs of stability:
- Sales: 6,232 transactions across the GTA, a 4.6% increase from August 2024.
- New Listings: 13,119, down slightly year-over-year, helping balance supply.
- Average Selling Price: $982,880, nearly flat compared to last year (+0.4%).
- Trend: Balanced conditions are giving both buyers and sellers room to maneuver, with the recent rate cut expected to stimulate fall demand.
City & Regional Highlights
Toronto 
Toronto continues to see steady demand for condos and townhomes, appealing to buyers looking for affordability in the core. Detached homes are moving more cautiously, but price stability suggests confidence returning to the market.
Mississauga 
Mississauga remains a buyer-friendly market, especially in the detached and semi-detached segments. With borrowing costs easing, families upsizing or relocating may find strong value in the fall.
Oakville 
Luxury demand in Oakville is regaining traction. The combination of limited inventory and lower financing costs positions this market for an active fall season, especially for executive homes and lakefront properties.
Burlington 
Burlington continues to attract buyers migrating west from Toronto. The city’s blend of affordability, lifestyle, and community feel has kept prices steady and competitive.
Muskoka 
Cottage country remains strong, with buyers eyeing investment properties and second homes. While activity softened slightly through the summer, the rate drop could encourage more buyers to act before year-end.
What This Means for Buyers & Sellers
With interest rates now at their lowest level in two years, affordability is improving across the GTA and Muskoka. Buyers who were waiting on the sidelines are expected to re-enter the market this fall, while sellers may benefit from increased competition for well-priced homes.
At Regan Irish & Associates, we specialize in helping clients navigate market shifts with confidence. Whether you’re buying a luxury home, selling a family property, or investing in Muskoka, our market insight and negotiation expertise ensure you get the best results.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
Visit reganirish.com——
August 2025 GTA Real Estate Market Update | Regan Irish
The August 2025 GTA Real Estate Market Update reflects renewed momentum and affordability in Toronto, Oakville, Mississauga, Burlington, and Muskoka. Thanks to steady interest rates and appealing home prices, July proved surprisingly dynamic. Let’s dig into the numbers and what they mean for you.
Interest Rates Remain Stable — Affordability Fueling Activity
In July 2025, the Bank of Canada maintained its key rate at 2.75%, its third consecutive pause. With lower borrowing costs now more accessible, affordability is encouraging a wave of renewed buyer activity.
GTA Market Overview: Sales Surge, Prices Slightly Dip
- Home Sales: 6,100+ transactions region-wide, marking a 10.9% increase YoY and the strongest July since 2021.
- Month-over-Month: Seasonally adjusted sales rose 13% from June to approximately 5,744 units, the biggest monthly gain in nine months.
- New Listings: Up 5.7% YoY, totaling 17,613 new offers.
- Price Trends:
- The MLS® Home Price Index (HPI) Composite Benchmark fell 5.4% YoY.
- The average GTA selling price dropped 5.5% YoY to around $1,051,719.
- Word on the street indicates the HPI drifted slightly lower—about $979,000, down 0.2% from June.
What It Adds Up To: Buyers are back in force—sales are outpacing new listings while prices softened, creating renewed market opportunities.
City Highlights
Toronto
A more balanced landscape—but some segments remain soft. Condos and detached homes see inventory rising; semis are steadier.
Oakville, Mississauga, Burlington & Muskoka
While TRREB doesn’t break down by city in these reports, regional trends suggest:
- Mississauga & Burlington: Strong rise in listings and dipping average prices give buyers leverage.
- Oakville: Stability in demand for luxury keeps discounts modest.
- Muskoka: Continued strong interest in sub-$2M waterfront properties should benefit from broader GTA momentum.
What This Means for You
- For Buyers:
Renewed affordability, rising inventory, and favorable interest rates make August a prime time to move. - For Sellers:
A more balanced market—strategic pricing and quick response will be key to success. - For Investors & Cottage Buyers:
Strong July sales in the GTA point to increasing investor interest; Muskoka remains a high-value lifestyle and investment destination.
Work With the GTA Real Estate Experts
Whether you’re planning to buy a Muskoka cottage, invest in a luxurious Oakville property, or explore options across Toronto, Mississauga, or Burlington, now is the time to act.
Regan Irish & Associates specializes in luxury, resale, and investment properties across the GTA and Muskoka. Our market insight and negotiation skills help you get the best results—whether buying, selling, or investing.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
Visit reganirish.com
Let’s make today’s market your opportunity—contact us today!
