You’ve mastered the condo life. For 5-10 years, your unit has been your home base in the Lower Mainland. But now, the dream is shifting: more space, a private yard, and perhaps fewer shared walls.
The great news is that your condo has likely been hard at work for you. The significant equity you’ve built—from paying down your mortgage and from market appreciation—is your powerful down payment engine. This “move-up” strategy is the smart way to graduate from condo living to a more spacious townhome or a self-managed duplex right here in Greater Vancouver or the Fraser Valley.
The Equity Advantage: Your $300,000 Launchpad
Let's model the next step using a common scenario in our local market: selling your appreciated condo provides a substantial down payment on your next, larger property.
For this breakdown, we'll assume a $1,000,000 target purchase price for your new home and a $300,000 down payment sourced from your condo's sale.
To give you the clearest picture, we'll use a competitive rate of 3.99% (on approved credit) amortized over 25 years.
Option 1: The Townhouse Dream (Strata Living) 🏡
Townhouses are part of a Strata Corporation in British Columbia, meaning you pay monthly Strata Fees to maintain common property.
✨ The Upgrade: What You Get with a Townhouse
Moving from a condo tower to a stacked townhome isn't just a financial transaction—it’s a massive lifestyle upgrade, especially for families or anyone craving more elbow room.
Serious Space: Most townhouses offer between 2 to 4 full bedrooms, often spread over two or three levels. This vertical living eliminates the condo feeling and gives every family member their own private retreat.
Ensuites and bathrooms: Say goodbye to shared bathrooms! It’s common to find multi-level townhomes with two or three full bathrooms, often featuring private ensuites for the primary and secondary bedrooms.
Private Parking & Storage: Forget the high-rise parking elevator. A townhouse often includes a single or double garage (or a dedicated carport), providing secure parking and critical space for bikes, tools, and sports gear.
Your Own Grass: You finally get a small slice of the outdoors—a fenced patio or modest lawn area. Perfect for summer barbecues, letting the dog out, or watching the kids play, all without leaving your property.
No Elevators, Ever: You'll use your own stairs instead of waiting for a high-rise lift. This gives you a true sense of coming home without having to share hallways with hundreds of other residents.
đź’ˇ The Local Strata Reality Check:
While Strata Fees increase your monthly carrying cost, they provide predictability. You pay into a Contingency Reserve Fund (CRF), so you aren't hit with a massive, unexpected bill for a new roof or siding repair—the Strata manages the budgeting and repairs for you.
Option 2: The Duplex Delight (No Strata Fee) ✌️
A duplex (or half-duplex) is increasingly popular across Metro Vancouver as it offers a more house-like experience with greater autonomy. Many are built with a simple legal agreement that avoids forming a formal Strata, meaning there is no monthly Strata Fee.
Using the exact same purchase and mortgage numbers:
đź’ˇ The Duplex Ownership Reality Check:
You save the $300–$550+ per month in Strata Fees, but you must personally budget for all big repairs. When the roof needs replacing or the furnace goes, you are solely or jointly (with your duplex neighbour) responsible for the full cost. You trade a monthly fee for full control and the need for rigorous personal savings.
Ready to find out exactly how much equity you can unlock from your condo? Let's chart your move-up plan!
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