Can I Upsize in Today's Market?

A few days ago, a client called Dad and I and asked if he can sell his townhome and upsize into a detached home in today’s market. We said you absolutely can, and this is why you should do it.

From the peak of the market to now, prices have come down and everyone knows that. In the Fraser Valley, townhome prices have dropped by 6.5% in the past 6 months whereas detached home prices have almost dropped by double at 12.9%.

If your townhome sold for $1,000,000 at the peak, now it would sell for $935,000 – a difference of $65,000. If the detached home you’d want is worth $1,500,000 at the peak, now it would sell for around $1,300,000 – a massive difference of $200,000.

And there is the opportunity we told our client to take advantage of. You would sell for $65,000 less but on the flip side you’d buy for $200,000 less – saving $135,000 in price which is huge.

If you are thinking of making that jump, call us today and let’s make it happen!

PJ 604-725-1258 | Razaik 604-537-8447.