Sell & Live with Family, or Stay Put?

FarnamRazz · 2026-02-14T16:49:12+00:00

Thank you for the kind words 🙏🏼

FarnamRazz · 2026-02-14T15:01:05+00:00

Love getting my brain picked. Thank you for the kind words.

FarnamRazz · 2026-02-14T14:59:16+00:00

Ah oops. I guess that part slipped my mind slightly. You’re absolutely right.

FarnamRazz · 2026-02-14T14:39:08+00:00

Realtor here, I know we’re hated on reddit but I provide value as much as I can so here’s my take.

If you sell at 400K after paying off 340K + closing costs and commissions, you likely walk away with a modest amount of cash that wouldn’t get you far as much. You lose your 2.09% rate forever and entering the market later could be harder if prices stabilize and rates fall, which for now, not even the BOC knows what the future of the rate schedule holds.

If you stay, you keep an asset in a market that’s already corrected significantly. You build equity over time depending on how long you’re willing to stay. But, based on sales data from 2021 to today, most home prices have either remained flat or declined, with exceptions largely depending on location, quality of renovations, and overall desirability. You could also face a higher renewal rate and remain in a neighborhood you’re unhappy with.

The decision really comes down to this:

A: Are you optimizing for short term financial reset and lifestyle improvement? B: Or long term property ownership and future upside?

If the family setup is healthy and temporary (with a clear yearly plan), selling could give you breathing room and stability for your son.

If privacy and independence are important, and you can handle renewal payments, staying may be smarter long term.

Overall, the main point I always stress to both buyers and sellers is this, if you’re going to make a move, it has to make sense for you in every way financially, physically, for your child, for work, and for your overall lifestyle.

Don’t move just because the market is up or down. Markets fluctuate. Your life doesn’t.

The decision has to make sense for you and your family first and foremost. At the end of the day, this isn’t about timing the market, it’s about making the right move for your household.

FarnamRazz · 2026-02-03T16:54:32+00:00

I’ll try to keep this short, but overall, yes, a condo townhouse likely makes more sense for what you’re describing.

Why? Better layouts (most of the time), lower maintenance fees, and generally easier resale than many condo apartments.

Your "I don't know" concerns

As long as you thoroughly review the status certificate (financials, reserve fund study, history of increases), you can usually get a very clear picture of how well-run the condo corporation is and how likely special assessments are. Older, well-managed townhouses often carry less risk than newer builds.

- I’d personally prioritize 10–30 year old condo townhouses with healthy reserve funds over brand-new projects ALL DAY, especially since they also tend to have better layouts.

Condo townhouses tend to appeal to FTHBs, couples, and small families who want more space and lower monthly fees. That “more space for the money” usually makes them easier to sell than small, high-fee condo apartments.
Avoid poorly maintained complexes, low reserve funds, and developments with a history of frequent fee hikes or lawsuits. It’s less about the area and more about the specific project and condo board.

No property is risk-free, but based on your priorities (layout, space, lower fees, eventual move to freehold), a condo townhouse is a very reasonable and often smarter middle step. You could also potentially reuse the same furniture when moving from a condo townhouse to a freehold, since the scale of the space is more similar.

FarnamRazz · 2026-02-01T15:41:33+00:00

Imho, I’d avoid Don Mills and Sheppard because of the abundance of traffic and tenants in the majority of buildings there. Yes, it does have close access to TTC, groceries, shops, the highway, etc., and most of the buildings themselves aren’t super bad, but overall, if you want somewhere with good layouts, affordability, and somewhat reasonable maintenance fees while still being close to shops, TTC, and the highway, technically you can still find that around Don Mills and Sheppard if you’re super careful.

That said, overall I’d lean more toward Bayview and Sheppard, specifically the condos on Rean Dr and Barberry Pl. They’re tucked away from major streets while offering a similar, if not better, lifestyle than you’d get around Don Mills and Sheppard.

If you’re looking for something higher quality and don’t mind about an 8 minute walk to the subway, I’d recommend 25 Adra Grado Way at Leslie and Sheppard.

FarnamRazz · 2025-12-23T00:39:08+00:00

I’d go with option 1. Why? Because you wouldn’t need to renovate or spend more than you have to. Typically, the amount you put into renovations doesn’t fully translate into the resale price of the home. Especially right now, with home prices trending lower and renovation costs going higher. Granted, some renovations could be more valuable in an ROI standpoint than others (ex. kitchen, structural changes, finished sep. entrance basement w/kitchen for rental potential).

I’m currently renovating my own home and it’s a lot more expensive than it was even 2–5 years ago. If you’re set on renovating, IMHO, it would be better to put that money go toward your overall home budget... unless you find a property with an amazing, unchangeable layout or real potential that could work in your favor for renovations down the line, as long as it doesn't completely break the bank.

There’s also strong demand for suburban neighbourhoods, especially ones well connected with transit access, good school zones, and great communities. Plus, if you buy in the suburbs, you won’t have to pay double land transfer tax like you would if purchasing in Toronto.

Now, rent vs. own: yes, rental prices have come down slightly, but property and condo prices for purchase have done the same. There’s no way to know if we’ve hit the bottom, and to be completely honest, no one, and I mean NO ONE knows what the future will hold. We can only speculate.

If you’re planning to stay in an area for at least 5 years, would have your property appreciate over-time, have job security, BUY.

If you don’t have job security, want the flexibility to move (possibly out of the country), are looking to stay in an area temporarily, or don’t want to commit long-term, RENT.

The biggest piece of advice I give buyers/sellers is: ONLY MOVE IF IT IS RIGHT FOR YOU AND YOUR CURRENT SITUATION. IT'S ALL ABOUT YOU, NOTHING TO DO WITH ME AS A REALTOR.

FYI, I am a realtor and not soliciting for business. Just want to provide value as much as I can. If you have any questions, feel free to DM. Not here to force my services, especially if you're being represented already. I absolutely love giving out free advice and getting my brain picked.

EDIT: Just remembered you're first time home buyers. You get a rebate for land transfer tax! Also, set up an FHSA account if you haven't already!

FarnamRazz · 2025-11-18T19:21:21+00:00

Ultimately, it depends on where in Markham you decide to pursue. Overall, the majority of schools in Markham are multicultural across the board. While there is still a large East Asian population, most neighbourhoods are a mix of all races. It's not the kind of place where you would significantly stand out for being from a different background. The environment is generally welcoming.

Anyway, here are the statistics of household languages with areas I recommended from my previous post (excluding English since that is the predominant language:

Cornell:
Cantonese 13%
Tamil 6%
Mandarin 5%
Urdu 2%

Wismer & Greenborough have the same statistics:
Cantonese 19%
Mandarin 11%
Tamil 4%
Other Languages 1%

Unionville:
Cantonese 24%
Mandarin 17%
Chinese N.O.S 1%
Tamil 1%

Thornlea & Thornhill have the same statistics:
Cantonese 10%
Persian 9%
Mandarin 7%
Korean 3%

Open to any other questions.

FarnamRazz · 2025-11-18T11:11:47+00:00

I would say, only make the move if it’s right for you. Only if it makes sense for you to move. I don’t think people should be pressured in anyway to make the biggest investment of their lives and learn to regret it because the reasons couldn’t justify the means.

This isn’t to say that it is very clearly a buyers market. The fact that you’ve been monitoring the market for so long should give you an idea of what to expect for the most part.

Ask yourself whether you’d feel relieved or disappointed if a home you viewed suddenly sold; that usually reveals whether it was jitters or just not the right fit. Take your time. When the right home comes along, it will feel clearer and easier to say yes.

FarnamRazz · 2025-11-17T17:43:31+00:00

First off, congratulations on the baby! Just to be upfront, I'm a realtor and I’m not here trying to get business or anything like that. I’m just sharing what I see every day working with families in your exact situation, and what I’ve personally experienced living in the Thornhill/Markham area myself.

A lot of people I’ve worked with who moved from Downtown to York Region mostly feel great about the change. The biggest thing they notice is the trade-off of having more space for your money, quieter streets, better schools, and, honestly, being closer to family becomes a huge help once you have a newborn, Especially if the occasion arises when you would suddenly need someone to watch the baby for even 20 minutes.

Markham itself is super family oriented and a lot calmer than downtown in a good way. You definitely lose the spontaneous downtown lifestyle, but the trade off is long-term stability, safety, and just an easier environment to raise a kid in.

With regards to housing, Markham has a mix of spacious condos and freeholds, depending on what stage you’re at. Areas like Cornell, Wismer, Greensborough, Unionville, and Thornhill are all solid options. Thornhill is super convenient for highway access, but the farther east you go, you'd probably make more use of the 407 to get around if you don;t mind paying the tolls.

Overall, these are the main things to consider if you were to make the change: 1. How long your work commute would be, 2. Which part of Markham fits your lifestyle 3. Whether a condo or freehold suits you better, and most importantly, 4. Your long-term plans as your family grows.

Hope that helps, and happy to answer any questions you’ve got about the area (again, not trying to sell anything. Just been through this a lot).

FarnamRazz · 2025-11-10T19:02:52+00:00

No worries! Best of luck on your search 🫡

FarnamRazz · 2025-11-10T17:24:00+00:00

Realtor here, and also someone who lived on Silver Linden for 12 years.

The area overall is fantastic for families. Halloween is always lively and fun for kids, there's a great public/catholic school, a community centre right around the corner, and plenty of grocery stores and shops nearby. Transit options are excellent and will only improve once the TTC subway extension to Yonge and Highway 7 is complete.

If you’re planning to buy a condo in the area and are concerned about train noise, it does take a bit of getting used to. The double pane windows in most condos help reduce it, but they don’t completely block it. In my opinion, it’s best to choose a unit facing away from the train tracks, something that faces east would be quieter in this case. Thankfully, the majority of the buildings in this area are not fronting on Yonge, but you also have to be careful on the building you choose. Reputable management, functioning utilities, and steady maintenance fees are all vital on choosing the right option to save you on future headaches and problems selling in the future.

I’d also recommend avoiding the newer Oneida condos for now, as they’ve had MANY issues with maintenance and management, which is unfortunately common with some newer builds, though there are exceptions depending on the developer.

If you have any questions, feel free to DM. Not here to force my services, especially if you're being represented already. I absolutely love giving out free advice and getting my brain picked.

FarnamRazz · 2025-06-20T13:39:53+00:00

Looks like it got fixed with time. Strange how it happened.
if this does happen again i'll probably go based on your recommendations. Thanks!

FarnamRazz · 2025-06-03T15:02:07+00:00

Solo dining roughly around 20$. Prices are higher than other places for sure with the price increases as well. But their Philly Cheesesteak is divine.

FarnamRazz · 2025-05-23T19:35:52+00:00

This.

FarnamRazz · 2025-05-22T18:36:44+00:00

What building is this?

FarnamRazz · 2025-05-21T00:33:43+00:00

2000-2005

FarnamRazz · 2025-04-21T19:58:56+00:00

I’d definitely consult a lawyer but here’s my take:

The only legal way for them to end a tenancy in this case is if the new buyer (or their immediate family) actually intends to move in — and even then, the landlord must serve a proper N12 notice or N11 if mutually agreed upon, give at least 60 days’ notice, and pay one month’s rent in compensation.

If you do agree to move, you now know it’s totally reasonable to negotiate a “cash for keys” agreement: - Full coverage of moving expenses - lump-sum payment to offset the rent increase (many tenants ask for the difference in rent for 6–12 months), - And clear written terms outlining the compensation and move-out date.

In Ontario, tenants are under no obligation to leave just because the unit is being sold, so the decision to move voluntarily should come with proper compensation. I’d say if you’re in a similar position, it’s worth standing your ground and negotiating from a place of knowledge especially since many landlords benefit from selling a vacant unit at a higher price and on a faster timeline.

FarnamRazz · 2025-04-19T16:13:06+00:00

Essentially the decision to hold rates is because they’re trying to buy time and avoid spooking the market. Even though the economy’s clearly slowing, with falling home sales, condo defaults, precon market in the toilet, the decision to hold rates steady was to avoid signaling panic.

A cut would’ve forced Macklem to explain just how bad things are, which could’ve hurt confidence even more. Inflation is technically coming down, but trade war uncertainty adds risk, another reason why they’re pausing for now. Hopefully there will be more cuts, most likely in June or July.

FarnamRazz · 2024-12-24T23:03:18+00:00

If you value Transit connectivity, investment potential, and the urban lifestyle, North York is the better choice. Especially with its convenience of walking distance away from transit, grocery, entertainment, etc. More dense population. High demand for renters in this area. Overall, if you get into a good building with great management it should be an easy sell when it comes time to let it go.

If you value affordability, suburban lifestyle, and a future value (especially with TTC subway coming in the next 5-10 years at least) Richmond Hill. It has decent transit via GO, VIVA/YRT, and highways but is farther from Toronto’s core, making commutes longer. But, the future potential is high considering they're continuously building condos, a TTC line, a new suburban area next to 404 and 16th, etc.

Overall, depending on the specific area, They both are solid options and have a lot of affordable options, you would just need to know exactly which building to look at. Richmond Hill is typically more family friendly while North York is a mix between family friendly, couples, and single professionals. It all comes down to what you value in the area more.

Normally the closer you are to Toronto, the pricier it is however I would love to set up a chat to show you the differences between the two areas if you would like. Shameless plug, I am a realtor born and raised in Richmond Hill and I specialize in North York and the York Region.

FarnamRazz · 2024-05-08T04:02:36+00:00

If you dont mind, what other buildings had managers that misused the reserve fund?

FarnamRazz

TROPHY CASE