Is it time to sell your Toronto condo? The world economy is unpredictable. The Mortgage rules have changed.  There are, admittedly,  LOTS of condos in Toronto. And I don’t think anyone is predicting condo prices to skyrocket anytime soon.

Of course there isn’t a one-size-fits-all answer. If you own a condo and are wondering what to do, you’ll need to consider:


  • Your Investment Goal. What is your primary objective? If it’s appreciation of the property (selling it for more than you paid), than you need to consider how your property will appreciate over time.
  • Cash Flow. Does your investment generate positive cash flow (is your condo income higher than your expenses)? It’s not always easy to be cash positive with a Toronto condo, but it can be done (you can read more about how to make money with your condo investment here).
  • Your Investment Time Horizon.  Do you need the money in X years? If Toronto condo prices do in fact dip, can you hold onto the property and wait for prices to rise again?
  • The Costs to Sell.   Selling costs money – from real estate commissions to lawyer fees to bank penalties – click here to read more about costs to sell.
  • What Would You Do with the Money if you Sell? There aren’t a lot of great places to park your money these days: interest rates are low and the stock market is unpredictable. If you sell your condo, where will you invest the equity and will it give you a higher rate of return than what you’d expect to make by holding on to your condo?
  • What is Everybody Else Doing? If a lot of people in your condominium building have decided to sell, it might be time to hold. There are a few Toronto condo buildings right now that are experiencing higher than average listings, and you know what that means:  higher supply, same (or lower) demand = less money.  
We own two investment condos and we’re keeping them. Here’s why:
  • Our condos are cash-flow positive – we don’t just cover our costs, but we generate income too.
  • Our condo investments are part of our long-term financial and retirement planning – we aren’t likely to need the equity from them anytime soon.
  • If we did indeed sell now, the costs to break our mortgages are significant.
  • We have over 20% equity in both our condos – where oh where would we invest that money if not in real estate? Our Facebook stock purchase of a few weeks proves we aren’t the savviest stock market investors.
  • Our condos are in two of Toronto’s most in-demand neighbourhoods, in great boutique buildings.
I know no one likes the ‘it depends’ answer – but deciding whether or not to sell your Toronto investment condo is a big decision. If you’re having a hard time weighing your options, call in a professional…


  1. Well written, I think 2012/2013 is a good time to flip a condo and make some money. Prices will plateau in the not too distant future and will most probably go down again.

  2. I have less than 1 percent equity in my condo over three years..thinking it might be a good idea to let it go. What kind of professional would I want to talk to to get more advice?

    • Brendan Powell says:

      Well, you’d probably want to talk to several people: a realtor to find out what your condo’s really worth and whether it will be easy or hard to sell (and the right timing), and maybe to try to guess where it might go in the future; your banker to find out what kind of penalty you might have if you were to break your mortgage…we can obviously help with the first part! PM me if you want our take on it

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