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A Toronto Rightsizing Tool
Is it time to rightsize? Let's see what it could look like.
There are many reasons for rightsizing into a new home: empty nesters who are now "overhoused" after the kids move out, a house and property that needs more maintenance that you're willing to keep up with, or maybe you simply want a different lifestyle now, with a focus on travel and socializing more outside your home.
Use this tool to explore roughly where you would land financially if you were to sell your current home and move to a rightsized home or condo, or even to a rental property.
Fill in what you know; the worksheet on the rightbelow updates as you go. Where a box is pre-filled with a starting estimate you can click into that field and type your own number if you have one.
1
Your current home
A rough estimate is fine to start your thinking process.
Monthly carrying costs of your current home
2
What's next
Options include buying versus renting. Try exploring both options.
Freehold versus condo ownership carries different ownership costs. Pick one to see it reflected below.
If there's cash left over after rightsized home purchase, input how much you might set aside for investments.