A simple example shows the mechanics: a home worth $500,000 with $100,000 still owing clears $400,000 in equity, and that number is what should set the budget for the next, smaller home rather than a rough guess.
Lakeview's larger, established family homes on mature, tree-lined streets near the Lakewood Civic Centre tend to price above the citywide benchmark, which works in a downsizer's favour when the goal is freeing up cash rather than staying in a comparable-sized home.
Joel Dyck's hand-reviewed valuation sets the real number a Lakeview senior is working with before any budget gets set for the next home. Get your hand-reviewed valuation from Joel Dyck.