What “Right-Sizing” Your Residence Looks Like When Done Appropriately
At a time when the COVID-19 pandemic has inspired a reevaluation of lifestyles and living spaces, right-sizing is having a moment in the spotlight – a moment that’s likely to last.
In the real estate world, the concept of right-sizing means finding the right property for your individual needs, evolving lifestyle, and life stages. It appeals to everyone from young couples wanting to move away from the downtown core and start a family in a desirable neighbourhood, to recent retirees transitioning out of their longtime detached houses.
As opposed to the now dated, flashier display of keeping up with the Joneses through the mentality of “bigger is better” (even if that meant basic cookie-cutter suburban mansions), right-sizers prioritize quality of life and quality of lifestyle.
This can include a desire for their homes to be energy-efficient, technology-packed, or simply convenient and self-contained properties without the hassle of having to maintain more than they can handle.
READ: How Leaside is Perfecting the ‘15-Minute City’ in Toronto
For many empty nesting Toronto dwellers, there comes a point when living in a bigger-than-needed house loses its appeal. Having a smaller space to maintain, fewer steps to climb, and less lawn to mow suddenly becomes increasingly more attractive – as long as they don’t come at the cost of having to downgrade their level of luxury and space (no micro-condos please).
In reality, swapping your house for a condo or townhome often means upgrading to a shiny new space – something that can be reflected in thoughtful design features, contemporary finishes, and innovative lifestyle-enriching amenities.
For that reason, the term “downsizing” – and its possible negative connotations – is increasingly being replaced with “right-sizing” by those in the know.
As such, right-sizing provides a sensible means to both enter and stay in the neighbourhood that’s captured your heart. Currently, Toronto’s Leaside neighbourhood offers a prime example of right-sizing and its appeal. The tree-lined and green space-filled part of town is home to many relatively large upper-middle class family houses. However, the rapidly changing neighbourhood is now also home to an assortment of exciting new and future condo and townhome developments, facilitated in large part by the upcoming arrival of the Eglinton Crosstown LRT.
This has opened up options for sophisticated living spaces in the coveted neighbourhood for both empty nesters and young families in the market to climb Leaside’s hot real estate ladder.
READ: Eglinton Crosstown LRT Will Breathe New Life into Coveted Leaside Neighbourhood
Perhaps the most exciting development is the anticipated Upper East Village master-planned community. Construction is currently underway on the luxury Camrost Felcorp Inc. project, which will feature spacious condos, townhomes, and retail space in a convenient and leafy enclave at Brentcliffe Rd and Eglinton Ave. East.
In three separate brick and glass buildings, Upper East Village will house over 500 upscale units, varying in size from 1 bedroom units to expansive 3 bedroom + family room units. With its sleek design and coveted finishes, Upper East Village offers an opportunity for the older generation of right-sizers to “luxe-up” their living space without breaking the bank. A bigger family home lived in for decades may offer more space and memories, but that doesn’t mean it’s not dated and in need of a renovation. In comparison, a new condo unit may very well feel like a luxury hotel.
Appealing to both the empty-nesters accustomed to space for guests, and to young growing families, the Upper East Village development will feature large, elegant units with two and three bedrooms.
Empty-nesters don’t have to kiss their beloved green space goodbye either. The expansive, three-story townhomes are complete with front yards on a tree-lined boulevard. Each sleek home offers no shortage of outdoor space, with balconies off both the master bedroom and the second-floor bedroom. Furthermore, a pristine half-acre park will serve as the heart of the community – an appreciated perk for new parents.
Catering to balanced lifestyles, the development also shines in its amenity offerings, with things like a fitness/yoga centre, indoor pool, spacious party room, rooftop terrace with BBQs, a fire pit lounge, and well-curated retail space. Having so many offerings in one spot is a godsend for both retirees who don’t want to waste their golden years in transit, and for busy and perpetually multitasking young professionals.
While its outdoor offerings offer a reprise from the downtown core’s hustle and bustle, Upper East Village is just steps from the soon-to-be-completed Eglinton Crosstown LRT Laird station, making access to downtown via public transportation speedier than ever. Although the appeal of more space, family-friendliness, and a slower pace may take precedence over the bustling city core, today’s young urban homeowner doesn’t want to stray too far from the city lights, or kiss an urban lifestyle goodbye once strollers become household staples.
So, if the thought of selling your home in favour of a convenient and editorial-worthy condo is an appealing one (and perhaps using the cash made in the process to check a few experiences off your bucket list), or you’re seeking access to Leaside and its countless offerings with the intention of building a life in the beautiful neighbourhood, you should act quickly on Upper East Village and all it has to offer.
With the development now 80% sold and just a handful of condo suites and 4 townhomes remaining, the time to get into this talk-of-the-town urban community is right now.
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