Brought By Cheryl Thompson
Luxury Homebuying and Downsizing Don’t Have to Be Mutually Exclusive
When considering the hunt for a luxury home, one typically envisions grand entryways and soaring foyers, with square-footage sprawling as far as the eye can see.
However, to approach luxury real estate as a game of size and ceiling height is misguided at best, and alienates a large portion of the market at worst. Reason-being, luxury buying and downsizing are not mutually exclusive. In fact, many who enter the luxury real estate market do so at a time in their lives when they’d prefer to “right-size” rather than “upsize” their abode.
Whether the catalyst is retirement, trading in on home equity, or the celebration of a new life stage (ahem, wherein the children no longer live at home), there are many drivers behind the desire for increasing the quality of your abode, while actually decreasing its square-footage.
Fortunately, especially in the Toronto luxury real estate scene, there’s no shortage of property listings that check the boxes of both “lavish” and “not outrageous in size.” Not surprisingly, a lot of these opportunities arise in luxury condo buildings.
In essence, condos — especially those built with affluent lifestyles in mind — capture the meaning of luxury, with a focus on some of life’s most coveted pleasures. What is lavishness if not an experience; a feeling… And what is the ideal condo lifestyle, if not catering to residents’ utmost preferences and the way they really want to live their lives?
As luxury buildings, and even purpose-built luxury rentals, continue to rise across Toronto, it’s clear that a desire for amenities and ease — gilded with high-end finishes — takes centre-stage for modern luxury buyers. With many buildings coming complete with 24-hour concierge service, amenities as eye-catching as they are functional, and rooftop patios that provide unmatched skyline views, condos offer lifestyle enhancements that simply aren’t possible in a freehold.
This is all without mentioning the in-suite experience luxury condo buyers get to enjoy. The old adage tells us to prioritize quality over quantity, and that’s precisely what’s on offer in a luxury condo suite. Instead of an urge to fill empty floor space with unnecessary decorative items, suites invite residents to embrace a more contemporary, minimalist approach to interior design. Purchases, while fewer in number, will be more consciously considered, resulting in a richly personalized in-home environment.
These suites boast high-end appliances, detailed finishes, spare beds and baths, floor-to-ceiling windows, and private outdoor spaces that serve views beyond the scope of any backyard you’re likely to ever see. What’s more, upkeep of your space needn’t cross your mind; building maintenance ensures amenities are consistently in tip-top shape, and you can outsource in-suite care to your heart’s content.
For those wondering where to begin, three particular Toronto developments currently underway offer the best of both worlds, with some of the most customized luxury living:
Forest Hill Private Residences
First, the nine-storey Forest Hill Private Residences, which realizes future residents will primarily be empty-nesters migrating from larger estates, overlooks the tranquil hues of Forest Hill Road. Anchored by the conveniences of Forest Hill Village, the residences boast design features that mimic a traditional home.
One Delisle, in the vibrant Yonge and St. Clair neighbourhood, is a vision for the future of high rise living. This sixteen-sided circular tower is covered in terraces, which provide generous outdoor spaces and incorporate nature into the residential experience. The luxury suites will be designed to welcome plenty of light, furthering the concept of bringing the outdoors in and the indoors out.
No. 7 Dale
Finally, 7 Dale is an ultra luxury four-storey, with 26 private residences nestled into the idyllic setting of the Rosedale Ravine. The boutique building provides the serenity of a unique and natural landscape in the heart of one of Toronto’s most revered neighbourhoods, while standing just a stone’s throw from the amenities of a world-class city.
Most of these new luxury condos include amenities and services that cater to how you want to live your life. Think: 24-hour executive-like concierge services; state-of-the-art gyms with private training facilities; yoga studios; infinity pools; wine storage and in-house sommeliers; spas with dry saunas, salt rooms and eucalyptus rooms; an emphasis on health and well being; 24-hour valet; heated landscaped garden terraces to enjoy year round; and more.
Of course, enchanting and sprawling estates will always maintain a special place in the world of luxury real estate, but there’s no doubt smaller dwellings that provide a turn-key lifestyle should hold their own seat at the table of grandeur.
And, if you’re ready to right-size into the luxury condo of your dreams, a reputable luxury realtor can help you find the abode that fits you perfectly.
About the Author: Cheryl Thompson is a leading luxury Realtor® and Senior Vice President of Sales with Sotheby’s International Realty Canada helping buyers and sellers to fulfill their real estate goals in Toronto’s most prestigious neighbourhoods. She can be reached at email@example.com or 416.419.1991.