November 3, 2026 | Selling
Downsizing Your Home in Pickering and Durham: A Guide for Empty Nesters (2026)
Updated October 2026 · By Xerxes Bharucha, Broker · Team Rajpal
Quick answer: In Pickering, moving from the average detached home ($1,140,177) to the average 2-bedroom condo apartment ($542,972) unlocks roughly $597,000 in equity, based on TRREB sales from January to September 2026. But the value of your home isn’t the number that matters. What matters is the gap between what your home is worth and what the place you want to move to costs, plus the new costs you’ll take on, like condo fees. And remember: most people downsize for lifestyle, not just money.
Why do empty nesters downsize?
- To unlock equity for retirement, travel, or to help their kids buy a first home.
- Less to maintain: single-level living and less upkeep.
- To help the kids: downsizing is often where a down-payment gift comes from.
- Same city, new chapter: keep your community, routines and neighbours.
What’s the biggest mistake downsizers make?
First, make sure everyone involved is on the same page. Second, understand that regardless of the numbers, you’re downsizing for lifestyle. And if you’re downsizing to free up money, the biggest mistake is focusing only on what your home is worth. Look at the gap: what your home is worth versus what the place you want to move to costs. Is that gap enough for you?
Xerxes Bharucha, Broker
How much equity can downsizing unlock in Pickering?
| Average sale price, Pickering (Jan–Sep 2026) | |
|---|---|
| Detached home | $1,140,177 |
| 2-bedroom condo apartment | $542,972 |
| The gap | About $597,000 |
Source: TRREB MLS®, Pickering year-to-date average sale prices. A snapshot, not a forecast. Every home is different.
From that gap, take off the costs of selling and buying. Land transfer tax alone on a $542,972 condo is about $7,300 in Ontario. See closing costs in Ontario and what it costs to sell.
What costs catch downsizers off guard?
Condo fees and storage fees. The idea of downsizing is to live in a smaller space, but a lot of sellers have a hard time letting go of the things they’ve collected over the years. They end up putting it in a storage locker, which is an ongoing monthly cost.
Xerxes Bharucha, Broker
- Condo fees: a monthly cost you didn’t have in a detached home. Compare them per square foot, and check what they include. See condo fees in Ontario.
- Storage: declutter before you move, not after.
- Land transfer tax and legal fees on the place you buy.
- Moving costs, and possibly a few months of overlap if your dates don’t line up. See sell first or buy first.
Can I use my equity to help my kids buy a home?
Yes, and many parents do. The average gifted down payment in Ontario is about $128,000, up 73% since 2015, and about a third of buyers get help from family. Cash gifts aren’t taxed in Canada; the bank will just ask for a signed gift letter confirming it isn’t a loan. Talk to your accountant about your own situation.
Where do empty nesters downsize to in Pickering?
- Larger new-build condos: developers are now building more 2- and 3-bedroom layouts.
- Established resale condos: often more space per dollar, and move-in ready.
- Bungalows and bungalofts: single-level living, or a loft for guests and grandkids.
- Smaller 2-storey homes with an elevator: a growing option for staying comfortable long term.
More choice is coming: Pickering City Centre alone is planned to add 12,000+ new suites over the next decade, plus new construction across Seaton.
Downsizing step by step
- Have the conversation: goals, timeline, and everyone on the same page.
- Plan and declutter: keep, sell, donate or pass down.
- Prepare and list: staging, repairs, photography and cleaning.
- Sell and move: line up both closing dates.
- Settle in: equity unlocked, and a gift given if that’s the plan.
Free download: the Pickering Empty Nesters’ Guide (PDF)
Downsizing your home: FAQ
How much money can I free up by downsizing in Pickering?
Moving from the average detached home to the average 2-bedroom condo apartment frees up about $597,000 before costs (TRREB, Jan to Sep 2026).
What is the biggest mistake when downsizing?
Looking only at what your home is worth. Look at the gap between your sale price and your next home’s price, and the new costs like condo fees.
Is a gifted down payment taxed in Canada?
No. Cash gifts aren’t taxed, but the lender will want a signed gift letter.
Should I sell or buy first when downsizing?
It depends on your finances and the market. In a balanced market like Durham’s, selling first is usually safer.
Where do empty nesters downsize in Pickering?
Larger new-build condos, resale condos, bungalows and bungalofts, and smaller 2-storey homes with an elevator.
Call or text Team Rajpal · 647.372.2997
About Team Rajpal: Team Rajpal is a real estate team based in Seaton, Pickering, with Re/Max Key2 Real Estate., Brokerage. We help buyers, sellers and investors across Pickering, Ajax and Durham Region, and we handle leasing and property management through Key 2 Rent.
Sources: TRREB MLS®, Pickering average sale prices, Jan to Sep 2026; Ratehub.ca and DualBrokers, Ontario gifted down payment statistics; GTA-Homes / CentreCourt, Pickering City Centre.
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