Upsizing in a Slower Market: A Homeowner’s Guide

Tanya Toye • February 26, 2026

When real estate markets cool and price growth slows, many homeowners assume it’s a bad time to make a move. But if you’re thinking about upsizing – whether for a growing family, lifestyle changes or you’re simply craving more space – a slower growth market can actually present unique opportunities.


The key is preparation and strategic planning. Following are some important things to consider when making a decision about upsizing.


Understand market dynamics

In a slower growth environment, home prices may be stabilizing rather than climbing rapidly. While this can mean your current home may not command the same premium it may have in a hot market, the property you’re buying is likely experiencing the same conditions. In many cases, the price gap between your existing home and the larger one you’re eyeing may narrow, making the move-up more affordable than expected.


You may also face less competition, fewer bidding wars and more negotiating power on your purchase.


Assess your equity position

Before making any decisions, review how much equity you’ve built up in your current home. Your available equity will impact your down payment, borrowing capacity and overall financial flexibility. A professional mortgage review can help determine whether you should port your existing mortgage (if this option is available to you) or explore new financing options.


It’s also important to factor in homebuying costs such as realtor fees, legal fees, land transfer taxes and moving expenses. These costs should be incorporated into your overall strategy.


Recalibrate your budget

Upsizing typically means a larger mortgage, higher property taxes, increased utilities and potentially higher maintenance costs.

In a higher-rate environment, affordability becomes even more critical. Work through detailed cashflow scenarios to ensure you’re comfortable not just with today’s payments, but also with potential rate changes at renewal.


Mortgage preapproval also provides clarity around your budget and strengthens your position when making an offer.


Think long-term

Real estate is a long-term investment. If the new home better supports your family’s needs and future plans, short-term market fluctuations become less important. Focus on lifestyle alignment and financial sustainability rather than trying to perfectly time the market.

Upsizing in a slower growth market isn’t about reacting to headlines. It’s about understanding your numbers, planning carefully and making a confident, well-structured move that supports your long-term goals.



Wondering if upsizing makes sense for you? I’m here to help weigh all your options. 604-788-8693 | tanya@tanyatoye.ca

Tanya Toye

Mortgage Broker

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Going Through a Divorce? Don’t Let Your Credit Take the Hit

By Tanya Toye • October 7, 2026
Going Through a Divorce? Don’t Let Your Credit Take the Hit Divorce is stressful enough without adding financial fallout to the mix. Between lawyers, paperwork, and emotional strain, it’s easy to overlook how a separation can impact your credit. But your financial future depends on protecting it now—because long after the dust settles, a damaged credit score can linger. Here are a few smart steps to help keep your credit strong and your finances steady as you move forward. 1. Take Control of Joint Debts When it comes to joint debt, both parties are equally responsible—no matter what your divorce agreement says. If your ex misses a payment on an account with your name attached, your credit takes the hit too. Go through all joint credit cards, loans, and lines of credit. Wherever possible: Close joint accounts to stop future shared use. Transfer balances to the person responsible for repayment. Notify lenders in writing of any changes to account ownership. Once everything is updated, pull your credit report after three to six months to confirm all joint accounts have been closed and reporting correctly. Mistakes happen—stay proactive to prevent surprises later. 2. Open Your Own Bank Accounts Separation means financial independence, and that starts with your own banking. Open a new chequing account in your name only and redirect your pay deposits and bill payments there. At the same time, close any joint bank accounts and change passwords on existing online banking and credit profiles. Even in peaceful separations, shared access can cause confusion—or conflict. Protect yourself by ensuring your money and information are secure. 3. Start Building Credit in Your Name If most of your past credit was tied to your spouse’s name, now’s the time to establish your own. Apply for a small personal credit card or secured credit product . Use it sparingly and pay it off in full each month. This helps you build a solid individual credit history, setting the stage for future goals like buying a home, refinancing, or starting fresh financially. 4. Keep an Eye on Your Credit Monitor your credit report regularly for errors or unexpected changes. You can request free reports from both major credit bureaus in Canada— Equifax and TransUnion —once a year. Tracking your credit isn’t just about catching mistakes; it helps you see your progress as you rebuild your financial independence. Final Thoughts Divorce can be emotionally draining, but protecting your credit doesn’t have to be complicated. By taking a few careful steps now—closing joint accounts, building credit in your name, and monitoring your reports—you’ll safeguard your financial health and gain peace of mind as you start your next chapter. If you’d like personalized guidance on managing credit during or after a divorce, reach out anytime. I’d be happy to walk you through your options.

Employment and Mortgage Qualification: What Lenders Look For

By Tanya Toye • September 30, 2026
When you apply for a mortgage, your employment history and status carry a lot of weight. Even if you feel secure in your job, lenders need proof that your income is reliable and will continue. To them, your employment status is one of the strongest indicators of whether you can make your mortgage payments long term. Here’s how lenders typically view different employment situations: Permanent Employment This is the gold standard. Once you’ve passed any probationary period and hold permanent status, lenders see you as a lower risk. It shows that your employer is committed to you, and your income is steady. Probationary Periods If you’re still on probation—usually 3 to 6 months, though sometimes longer—lenders may hesitate. That’s because your employer can end your contract without cause during this period. Once probation is over, you’re considered more secure. That said, context matters. If you’ve worked with the same company for years as a contractor and just transitioned into full-time employment, lenders may accept a letter from your employer confirming that probation is waived. Documentation is key here. Parental Leave Being on or about to take parental leave doesn’t mean you can’t qualify for a mortgage. As long as you have a letter from your employer guaranteeing your position and return-to-work date, lenders can use your regular salary—not your leave income—when assessing your application. Term Contracts This is one of the trickiest categories. Even highly skilled professionals with strong incomes can face challenges here. A term contract has a start and end date, which makes lenders question the stability of your future income. To use term-contract income, lenders generally want to see at least two years of history, or proof that your contract has already been renewed. The more evidence you can show of consistent employment, the stronger your case will be. The Bottom Line If you’re planning to apply for a mortgage, it’s important to understand how your employment status could affect your approval. Whether you’re starting a new job, coming back from leave, or working under contract, lenders want documentation that proves your income is reliable. 📞 If you’ve recently changed jobs or are planning a career shift, let’s connect. I can help you prepare your file so you qualify with confidence and avoid surprises in the approval process.