Love it or List it?

I've always found August to be a month when people start thinking ahead. Summer isn't quite over, but there's something about this time of year that makes us look at what's next. One question has come up several times recently, and I thought it might be something you've wondered about too.

"Do I put money into this house, or is it time to find one that suits us better?"

It's a bigger decision than most people realize, and there isn't one right answer. Maybe you've been thinking about updating your kitchen, finishing the basement or finally tackling that bathroom renovation. Or maybe you've caught yourself scrolling through Realtor.ca just to see what's out there. If that's you, you're certainly not alone.

Our homes change with us. What worked five or ten years ago doesn't always work today. Families grow, children move out, people begin working from home, and sometimes we simply reach a stage where we'd like a little less to look after. Before you start collecting renovation quotes or packing boxes, it's worth taking a step back and asking yourself a few questions.

Do you still love your neighbourhood? Does your home still meet most of your needs? Are you looking to make a few improvements, or are you trying to make a home work that no longer fits your lifestyle?

Sometimes a renovation is all that's needed. Other times, when you really look at the numbers, moving makes more sense. Every situation is different, which is why I always encourage people to explore both options before making a decision.

Love it?

If you're planning to renovate, start by thinking about your lifestyle rather than focusing solely on resale value. Consider how long you expect to stay in your home and choose improvements that will make your everyday life more enjoyable. Before you begin, set a realistic budget and build in a contingency for unexpected expenses. Renovations rarely go exactly as planned, so having a financial cushion can help reduce stress and keep your project on track.

Kitchens and bathrooms often receive the most attention when renovating, but fresh paint, updated lighting, landscaping and improving curb appeal can sometimes have just as much impact for a fraction of the cost. If you're renovating because you're thinking about selling in the next few years, it's worth focusing on improvements that you'll enjoy now while also appealing to future buyers.

List it?

Moving gives you the opportunity to find a home that better suits the way you live today. Whether that's more space, less maintenance or simply a different neighbourhood, it's worth taking the time to think about what matters most before you start looking. I always encourage people to make a wish list before they begin. Separate the things you absolutely need from the things that would simply be nice to have. It helps keep emotions from taking over once you start viewing homes.

If you're thinking about moving, remember that finding the right home is about more than the house itself. Think about the lifestyle you want to create and how the neighbourhood fits into your everyday life. Before falling in love with a property, take the time to research the area, including things like amenities, commute times, schools, and what matters most to you. It’s also important to consider the additional costs involved in a move, such as moving expenses, legal fees, and other unexpected costs. Most importantly, don't feel pressured to settle. The right home is worth waiting for, and taking the time to make the right decision can make all the difference.

One thing I've learned over the years is that there isn't a right answer that fits everyone. I've seen homeowners spend money on renovations and be thrilled they stayed. I've also seen homeowners realize they were trying to make a house fit a lifestyle it simply couldn't support. The best decision is an informed one. Take your time, ask lots of questions and look at all of your options before making a commitment. Whether you choose to love your home a little longer or start looking for something new, I hope these tips help you make the decision with confidence.

GTA Housing Market Tightens in July and Sets the Stage for Price Stability

08/05/2026

Greater Toronto Area (GTA) resale housing market conditions tightened in July 2026 compared the same month a year earlier. Home sales edged slightly lower over that period, while new listings were down substantially. This suggests that active homebuyers faced more competition from other potential purchasers. If this trend continues, average selling prices could level off in the second half of this year.

“With sales accounting for a larger share of listings, buyers may find there is less room to negotiate moving forward. If current trends continue, home prices could start to level off compared to last year. Many would-be homebuyers are waiting for confidence in the market and broader economy to improve before making a purchase. This includes more clarity on tariffs, inflation and borrowing costs.” said TRREB President Daniel Steinfeld.

“While uncertainty about the economy and borrowing costs persists, recent news has been more positive than expected. The latest readings on economic growth and jobs surprised to the upside. This could help bolster consumer confidence and prompt an uptick in home purchases in the months ahead, especially if home prices stabilize as we move through the fall,” said TRREB Chief Information Officer Jason Mercer.

GTA REALTORS® reported 5,995 home sales through TRREB’s MLS® System in July 2026 – a slight decrease of 0.9 per cent compared to July 2025. New listings entered into the MLS® System amounted to 14,484 – down by 17.8 per cent year-over-year.

On a seasonally adjusted basis, July 2026 home sales were up month-over-month compared to June 2026, while new listings were down, which means market conditions continued to tighten during the summer.

The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 4.6 per cent year-over-year in July 2026. The average selling price, at $1,003,956, was down by a similar annual rate of 4.5 per cent.

On a month-over-month seasonally adjusted basis, MLS® HPI Composite edged up compared to June 2026, whereas the average selling price was slightly lower.

“Removing remaining municipal roadblocks to attainable housing is a pressing issue in the GTA and Simcoe County. Restrictive zoning, outdated rules, high taxes and fees, and approval delays are making housing more expensive and are key issues in the upcoming municipal election. They add tens of thousands of dollars to the cost of every home and need to be reformed,” said TRREB CEO John DiMichele.