{"id":227605,"date":"2023-07-06T15:50:21","date_gmt":"2023-07-06T19:50:21","guid":{"rendered":"https:\/\/www.livabl.com\/articles\/?p=227605"},"modified":"2023-07-17T11:55:24","modified_gmt":"2023-07-17T15:55:24","slug":"upsizing-challenge-canada-condo-owners","status":"publish","type":"post","link":"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners","title":{"rendered":"Upsizing more challenging than ever for Canadian condo owners"},"content":{"rendered":"

<\/h4>\n

Canadian condo owners looking to make the jump to a single-family home are facing a daunting challenge in today\u2019s market. <\/p>\n\n\n\n

Even in theory, transitioning from a condo to a house is no small task, but market conditions over the last few years have made upsizing even more challenging. <\/p>\n\n\n\n

Over the past decade, both apartments and houses have doubled in price. More recently, interest rates and increased demand have led to rapidly skyrocketing prices and eroding affordability. If getting a foot in the market is hard for many prospective buyers, upgrading to a larger space is nearly impossible. <\/p>\n\n\n\n

But how far-fetched is the notion of upsizing in today\u2019s market, really? According to a new study by Point2, it depends on where you live. <\/p>\n\n\n\n

When it comes to the least affordable cities, it\u2019s no surprise that urban centres in British Columbia and Ontario offer the bleakest picture.<\/p>\n\n\n\n

Vancouver<\/a> leads the pack with the largest price discrepancies between condos and single-family homes, reaching a staggering 153 per cent price difference. Vancouver is followed closely by Richmond Hill<\/a>, Ontario (149%), Oakville<\/a>, Ontario (139%), and Surrey<\/a>, British Columbia (132%).<\/p>\n\n\n\n

The average house in Vancouver is approximately $1,243,300 more expensive than the average condo. According to Point2, it would take a condo owner 16 years of saving their entire salary to afford the difference. <\/p>\n\n\n\n

\"graph<\/a>
Image via Point2<\/figcaption><\/figure>\n\n\n\n

Surprisingly, Toronto <\/a>is not the most challenging city for upsizing in Ontario. Homes in Toronto cost around $761,770 more than condos, but compared to Vancouver, that number might not look so bad. Even the cities surrounding Toronto have heftier price tags than within the city centre, with Markham <\/a>and Vaughan <\/a>boasting a difference of $835,600 and $789,000 respectively.\u00a0<\/p>\n\n\n\n

In terms of the most affordable cities for upsizing, Trois-Rivi\u00e8res<\/a>, Quebec <\/a>and Halifax<\/a>, Nova Scotia stand out. Homes in both cities are only 19 per cent more expensive than condos \u2013 translating to a $44,000 difference in Trois-Rivi\u00e8res and $84,400 in Halifax.\u00a0<\/p>\n\n\n\n

\"\"<\/a>
Image via Point2<\/figcaption><\/figure>\n\n\n\n

Notably, seven out of 14 cities where upsizing is \u2018achievable\u2019 are located in Quebec, making it the best province for upsizing overall. However, Ontario condo-dwellers who don\u2019t want to move to a different province might have better luck in Kingston <\/a>and Windsor<\/a>.\u00a0<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

In some major Canadian cities, it would take over 10 years of saving your entire income to afford the price difference between a condo and a house. <\/p>\n","protected":false},"author":52,"featured_media":227608,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"2023-07-06T19:50:26Z","apple_news_api_id":"fb9a0eb5-6c96-492a-bc96-ca8b2a587c3d","apple_news_api_modified_at":"2023-07-17T15:55:27Z","apple_news_api_revision":"AAAAAAAAAAAAAAAAAAAAAQ==","apple_news_api_share_url":"https:\/\/apple.news\/A-5oOtWyWSSq8lsqLKlh8PQ","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11108],"tags":[11132,11121,11199,11198],"coauthors":[10598],"apple_news_notices":[],"yoast_head":"\nUpsizing more challenging than ever for Canadian condo owners<\/title>\n<meta name=\"description\" content=\"Even in theory, upsizing from a condo to a house is no small task, but market conditions over the last few years have made upsizing even more challenging.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Upsizing more challenging than ever for Canadian condo owners\" \/>\n<meta property=\"og:description\" content=\"Even in theory, upsizing from a condo to a house is no small task, but market conditions over the last few years have made upsizing even more challenging.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners\" \/>\n<meta property=\"og:site_name\" content=\"Livabl\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-06T19:50:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-17T15:55:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2023\/07\/condoboards_1-2.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Cassie Apperloo\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cassie Apperloo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners\",\"url\":\"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners\",\"name\":\"Upsizing more challenging than ever for Canadian condo owners\",\"isPartOf\":{\"@id\":\"https:\/\/www.livabl.com\/articles\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2023\/07\/condoboards_1-2.jpeg\",\"datePublished\":\"2023-07-06T19:50:21+00:00\",\"dateModified\":\"2023-07-17T15:55:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.livabl.com\/articles\/#\/schema\/person\/e8d9b87d19d9c90dd560e3b4d12e826e\"},\"description\":\"Even in theory, upsizing from a condo to a house is no small task, but market conditions over the last few years have made upsizing even more challenging.\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners#primaryimage\",\"url\":\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2023\/07\/condoboards_1-2.jpeg\",\"contentUrl\":\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2023\/07\/condoboards_1-2.jpeg\",\"width\":1024,\"height\":683},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Articles\",\"item\":\"https:\/\/www.livabl.com\/articles\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News\",\"item\":\"https:\/\/www.livabl.com\/articles\/news\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Upsizing more challenging than ever for Canadian condo owners\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.livabl.com\/articles\/#website\",\"url\":\"https:\/\/www.livabl.com\/articles\/\",\"name\":\"Livabl\",\"description\":\"Building New Home Dreams\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.livabl.com\/articles\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.livabl.com\/articles\/#\/schema\/person\/e8d9b87d19d9c90dd560e3b4d12e826e\",\"name\":\"Cassie Apperloo\",\"description\":\"Cassie Apperloo covers real estate market news for Livabl. A self-described Jill of all trades, her work has covered everything from community journalism to public relations for musicians and small businesses. When she\u2019s not writing news stories or editing podcasts, you\u2019ll find her fawning over her beloved cat, Peanut.\",\"url\":\"https:\/\/www.livabl.com\/articles\/author\/cassie-apperloo\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Upsizing more challenging than ever for Canadian condo owners","description":"Even in theory, upsizing from a condo to a house is no small task, but market conditions over the last few years have made upsizing even more challenging.\u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners","og_locale":"en_US","og_type":"article","og_title":"Upsizing more challenging than ever for Canadian condo owners","og_description":"Even in theory, upsizing from a condo to a house is no small task, but market conditions over the last few years have made upsizing even more challenging.\u00a0","og_url":"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners","og_site_name":"Livabl","article_published_time":"2023-07-06T19:50:21+00:00","article_modified_time":"2023-07-17T15:55:24+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2023\/07\/condoboards_1-2.jpeg","type":"image\/jpeg"}],"author":"Cassie Apperloo","twitter_misc":{"Written by":"Cassie Apperloo","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners","url":"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners","name":"Upsizing more challenging than ever for Canadian condo owners","isPartOf":{"@id":"https:\/\/www.livabl.com\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners#primaryimage"},"image":{"@id":"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners#primaryimage"},"thumbnailUrl":"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2023\/07\/condoboards_1-2.jpeg","datePublished":"2023-07-06T19:50:21+00:00","dateModified":"2023-07-17T15:55:24+00:00","author":{"@id":"https:\/\/www.livabl.com\/articles\/#\/schema\/person\/e8d9b87d19d9c90dd560e3b4d12e826e"},"description":"Even in theory, upsizing from a condo to a house is no small task, but market conditions over the last few years have made upsizing even more challenging.\u00a0","breadcrumb":{"@id":"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners#primaryimage","url":"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2023\/07\/condoboards_1-2.jpeg","contentUrl":"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2023\/07\/condoboards_1-2.jpeg","width":1024,"height":683},{"@type":"BreadcrumbList","@id":"https:\/\/www.livabl.com\/articles\/news\/upsizing-challenge-canada-condo-owners#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Articles","item":"https:\/\/www.livabl.com\/articles"},{"@type":"ListItem","position":2,"name":"News","item":"https:\/\/www.livabl.com\/articles\/news"},{"@type":"ListItem","position":3,"name":"Upsizing more challenging than ever for Canadian condo owners"}]},{"@type":"WebSite","@id":"https:\/\/www.livabl.com\/articles\/#website","url":"https:\/\/www.livabl.com\/articles\/","name":"Livabl","description":"Building New Home Dreams","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.livabl.com\/articles\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.livabl.com\/articles\/#\/schema\/person\/e8d9b87d19d9c90dd560e3b4d12e826e","name":"Cassie Apperloo","description":"Cassie Apperloo covers real estate market news for Livabl. A self-described Jill of all trades, her work has covered everything from community journalism to public relations for musicians and small businesses. When she\u2019s not writing news stories or editing podcasts, you\u2019ll find her fawning over her beloved cat, Peanut.","url":"https:\/\/www.livabl.com\/articles\/author\/cassie-apperloo"}]}},"_links":{"self":[{"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/posts\/227605"}],"collection":[{"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/users\/52"}],"replies":[{"embeddable":true,"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/comments?post=227605"}],"version-history":[{"count":0,"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/posts\/227605\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/media\/227608"}],"wp:attachment":[{"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/media?parent=227605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/categories?post=227605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/tags?post=227605"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.livabl.com\/articles\/wp-json\/wp\/v2\/coauthors?post=227605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}