Where the Money Actually Goes When You Downsize
Realty Bytes, EP.215

What this episode covers:

• Why "sale price minus purchase price" is the wrong way to estimate what you'll walk away with
• The real cost of selling: commission (4 to 5 percent) plus HST on top of it
• The real cost of buying: Ontario land transfer tax and legal fees on both transactions
• The hidden costs almost nobody budgets for: moving, staging, small repairs, and mortgage discharge if it applies
• A full worked example on a $950,000 sale and a $650,000 purchase, landing at $70,000 to $75,000 in total friction costs
• Two listener questions answered: does this apply if you're mortgage-free, and is commission negotiable
• The one thing to remember before you list

Mentioned in this episode:

• Free Downsizing Guide with a built-in net proceeds worksheet: https://contacts.byreferralonly.com/Form3.aspx?Key=D8BBBA6956BA57D245397E6A157C2264
• Book a no-pressure call with Evelyn: https://calendly.com/evelynlopes/consultation-meeting-evelyn-lopes-realty-team

Link to YouTube Video: https://www.youtube.com/watch?v=uZE6Uzq-IvU

The content in this episode is intended for informational and educational purposes only. Nothing discussed constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Always conduct your own research and consult with a qualified professional before making any real estate or financial decisions.

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