Why Now May Be the Right Time to Move Up in the Tri Cities

How to sell your current home, buy a larger one, and take advantage of the difference between the two price points

By Colin Colpitts, PREC

Apex Real Estate Group | Royal LePage Sterling Realty

For many homeowners, moving into a larger home has felt out of reach.

Home prices rose, borrowing became more expensive, and uncertainty caused many families to postpone a move they already knew they needed to make.

But waiting for every part of the market to feel perfect can also mean missing the opportunity that matters most.

For a move up buyer, the most important number is not simply what your current home sells for.

It is the difference between the value of the home you are selling and the price of the home you want to purchase.

When larger and more expensive properties offer better selection, less competition, or greater negotiating opportunities, moving up can become more achievable even if your current home is not selling at its highest historical value.

That is why now may be worth considering.

This does not mean every homeowner should rush to sell. It does not mean every larger property is a good purchase. It means families who have built equity may have an opportunity to make a move under conditions that reward preparation, patience, and strong negotiation.

The key is understanding whether that opportunity exists for your home, your finances, and your family.

The Move Up Advantage

Move up buyers often focus too heavily on what they may be giving up when they sell.

They remember what a neighbour sold for during a stronger market. They compare their current value with the highest price they have ever seen. They worry that selling below a previous market peak means they are making a poor financial decision.

But that only looks at half of the transaction.

You are not simply selling.

You are also buying.

If the larger home you want has become more affordable, more negotiable, or easier to purchase on favourable terms, the opportunity on the purchase may outweigh what you give up on the sale.

Consider a simplified example.

Imagine your current home may have sold for $1,000,000 during a stronger market but is now worth $950,000.

That $50,000 difference can feel significant.

Now imagine the larger home you want may previously have sold for $1,700,000 but can now be purchased for $1,550,000.

In that example, the gap between the two properties has narrowed.

You may be selling for less than you once could have, but you may also be buying the more expensive property for substantially less.

The exact figures will be different for every homeowner, but the principle remains the same.

When moving up, focus on the difference between the two properties, not only the sale price of the home you currently own.

Why Waiting for the Market to Rise Can Work Against You

Many homeowners assume they should wait until the value of their current property rises before making a move.

That sounds logical.

The problem is that the larger home they want may rise as well.

If your current home increases by five percent but the more expensive property also increases by five percent, the dollar increase on the larger home will usually be greater.

For example, a five percent increase on a $900,000 property is $45,000.

A five percent increase on a $1,500,000 property is $75,000.

Your current home may be worth more, but the gap between the two properties may have widened by another $30,000.

This is why move up buyers should not automatically wait for higher prices.

A rising market may benefit the sale, but it can also make the next purchase more expensive.

The best time to move up is often when the difference between the home you own and the home you want is manageable.

What “Now” Really Means

Saying now may be the right time does not mean creating false urgency.

It does not mean buying the first larger home that becomes available.

It means taking a serious look at your position before assuming the move is impossible.

Now may be worth considering when:

1. You have built meaningful equity in your current home.

2. Your present home no longer fits your family.

3. You can comfortably manage the payment on the next property.

4. The type of home you want offers reasonable selection.

5. Sellers in your target price range may be open to negotiation.

6. You plan to remain in the next home for several years.

7. You are prepared to make decisions based on your own numbers rather than headlines.

You may discover that the move still does not make sense.

That is valuable information too.

The purpose of planning is not to convince you to move. It is to help you understand whether you can.

Signs You May Have Outgrown Your Current Home

Most homeowners do not decide to move up because of one dramatic event.

It usually happens gradually.

A home that once worked well becomes less practical as life changes.

You may be ready for more space if:

1. Your children are sharing rooms and need more privacy.

2. You regularly work from a kitchen table or temporary desk.

3. Your home has little storage and feels constantly crowded.

4. You need more parking or garage space.

5. Your outdoor area no longer works for your family.

6. You want space for parents or extended family.

7. You are planning to grow your family.

8. Your current layout creates daily frustration.

9. You want to remain in the same general community but need a different type of property.

10. You expect to move eventually and want to understand whether making the move sooner could be more advantageous.

Wanting a larger home does not automatically justify buying one.

But when the current property affects your quality of life and your finances support the move, it deserves a proper evaluation.

Start With Your Current Home

The first step is not looking at listings.

It is understanding the property you already own.

Before you begin touring larger homes, you need a realistic answer to three questions.

What could your current home sell for?

How much equity would be available after the sale?

How would that equity affect your next purchase?

An online estimate may provide a general idea, but it cannot fully account for your condition, floor plan, renovations, exposure, parking, location within the neighbourhood, building reputation, or current competition.

A proper property evaluation should consider:

1. Recent comparable sales.

2. Homes currently competing for the same buyer.

3. Listings that failed to sell.

4. Your home’s condition and presentation.

5. Features that add value.

6. Features that may affect marketability.

7. The type of buyer most likely to purchase your home.

8. The strategy most likely to create a successful sale.

The goal is not to hear the highest possible number.

The goal is to receive the most accurate and useful number.

An inflated estimate can cause you to commit to a more expensive purchase than your sale can support.

Understand Your Usable Equity

Your usable equity is not simply the expected sale price minus the mortgage.

You may also need to account for:

1. The mortgage payout.

2. Legal or notary expenses.

3. Real estate fees.

4. Moving costs.

5. Repairs and preparation.

6. The deposit for the next purchase.

7. Funds needed for immediate improvements.

8. Money you want to keep available after moving.

Once you understand the likely sale proceeds, your mortgage broker can help determine what purchase range is realistic.

The goal should not be to qualify for the largest mortgage possible.

The goal should be to purchase a home that improves your life without making every other financial decision more difficult.

Focus on the Monthly Difference

Purchase prices receive most of the attention, but the monthly difference is often what determines whether the move is comfortable.

Review the full cost of the next property, including:

1. Mortgage payments.

2. Property taxes.

3. Home insurance.

4. Strata fees where applicable.

5. Utilities.

6. Maintenance.

7. Landscaping.

8. Commuting costs.

9. Future repairs.

10. Renovations or upgrades.

A larger home may come with more significant expenses even when the purchase price fits your approved budget.

You should understand how the move affects your monthly life, not just whether a lender will approve it.

Decide What Moving Up Means for Your Family

A bigger property is not automatically a better property.

Before beginning the search, define what problem you are trying to solve.

Do you need another bedroom?

A home office?

A larger yard?

Better parking?

A legal suite?

A quieter street?

A particular school catchment?

More space for extended family?

A larger garage?

A layout that will still work when your children are teenagers?

Separate your priorities into three groups.

Essential Features

These are the features the home must have.

Examples may include a minimum number of bedrooms, suitable parking, a home office, a specific area, or enough space for your family.

Strong Preferences

These features are important, but you may compromise when the rest of the home is right.

Examples may include a renovated kitchen, a finished basement, air conditioning, a larger lot, or a covered outdoor space.

Bonus Features

These are features you would enjoy but should not control the decision.

Examples may include a theatre, wine room, pool, mountain view, or luxury appliance package.

This process helps prevent emotion from taking over when you walk into a beautifully presented home that does not actually meet your needs.

Should You Buy First or Sell First?

This is one of the most important decisions in any move up strategy.

There is no universal answer.

Both approaches can work.

When Selling First May Make Sense

Selling first gives you greater financial certainty.

Once your sale is firm, you know how much money will be available and when it will be received.

You can shop with a defined budget and may be able to write a stronger purchase offer because your purchase is not dependent on selling your current home.

Selling first may be appropriate when:

1. You need the sale proceeds to complete the purchase.

2. You want to avoid carrying two properties.

3. Your next purchase needs to remain within a strict budget.

4. You prefer certainty over flexibility.

5. Your current home may require a longer marketing period.

6. You are willing to arrange temporary accommodations if necessary.

The main risk is that you may not find the right next home before it is time to move.

That risk may sometimes be reduced through longer dates, flexible possession terms, or temporary housing.

When Buying First May Make Sense

Buying first gives you the opportunity to secure the right home before selling your current one.

This can be valuable when your requirements are specific or suitable properties are difficult to find.

Buying first may be appropriate when:

1. You have enough financial flexibility to manage an overlap.

2. Your financing has been carefully reviewed.

3. You have a realistic understanding of your current home’s value.

4. You do not want to purchase under a deadline.

5. Your target area has limited suitable inventory.

6. You understand the cost of carrying two homes temporarily.

The biggest risk is pressure.

Once you have committed to another purchase, you may feel forced to accept a weaker offer on your current home.

Buying first requires a clear backup plan, not just confidence that your property will sell.

Can You Make an Offer Subject to Selling?

A subject to sale condition may allow you to purchase another property while protecting yourself if your current home does not sell.

However, the condition can make your offer less attractive to the seller.

Whether this strategy is realistic depends on:

1. The property you are buying.

2. The seller’s motivation.

3. The amount of competing interest.

4. Your proposed price and dates.

5. Whether your current home is already listed.

6. How your home is positioned.

7. The wording of the condition.

This can be a useful tool, but it must be structured carefully.

Preparing Your Current Home

You do not need to renovate every room before selling.

In many cases, focused preparation provides a better return than a major renovation.

The goal is to make your home feel clean, bright, cared for, and easy for buyers to imagine themselves living in.

Focus on:

1. Completing visible repairs.

2. Decluttering crowded areas.

3. Improving lighting.

4. Cleaning carpets and flooring.

5. Refreshing marked walls.

6. Organizing closets and storage.

7. Improving the front entrance.

8. Cleaning patios, decks, and outdoor areas.

9. Removing furniture that makes rooms feel smaller.

10. Presenting each room with a clear purpose.

Before spending heavily, consider whether the improvement will meaningfully affect buyer perception, photography, saleability, or value.

Pricing Still Matters

The opportunity to move up does not remove the need to price your current home properly.

Your list price affects how buyers find the property, how they compare it with competing homes, and how urgently they feel they need to act.

A strong pricing strategy should consider:

1. Recent sales.

2. Current competition.

3. Unsuccessful listings.

4. The condition of your home.

5. Your preferred timing.

6. Buyer search ranges.

7. Your next purchase.

8. The risk of remaining on the market too long.

Overpricing can reduce early interest and make buyers question why the property has not sold.

The goal is to position the home where the right buyers recognize its value.

Negotiating the Larger Purchase

The purchase side is where a move up buyer may have the greatest opportunity.

Higher priced properties often have a smaller buyer pool than more affordable homes.

That can sometimes create room to negotiate more than price alone.

Possible negotiation points may include:

1. Purchase price.

2. Completion and possession dates.

3. Included appliances or furnishings.

4. Repairs.

5. Inspection concerns.

6. Deposits.

7. Conditions.

8. Flexibility around your sale.

A property that appears out of reach at the asking price may become more realistic when the seller’s circumstances, market exposure, and motivation are properly understood.

This is why the list price should not be viewed as the final answer.

Choose a Home That Solves the Next Problem Too

A common mistake is buying a home that only solves today’s problem.

Your next home should ideally fit your life for several years.

Before purchasing, consider:

1. Whether your family may grow.

2. How your children will use the home as they get older.

3. Whether parents may move in.

4. Whether you may continue working from home.

5. How much maintenance you want.

6. Whether stairs may become a concern.

7. How the location affects work, school, and activities.

8. Whether the mortgage leaves room for travel, savings, and other priorities.

You do not need to predict every future change.

You should simply avoid moving again because you overlooked an obvious need.

Move Up Options Across the Tri Cities

The Tri Cities offer several different paths for homeowners who want more space without leaving the region.

Burke Mountain

Burke Mountain appeals to families looking for newer homes, modern layouts, additional bedrooms, and access to parks and trails.

Buyers should consider parking, yard usability, nearby construction, street elevation, and how the location fits their daily routine.

Westwood Plateau

Westwood Plateau offers detached homes and townhomes in a scenic setting with access to schools, trails, recreation, and golf.

Homes vary significantly in age, layout, renovation quality, driveway design, and outdoor space.

Ranch Park

Ranch Park appeals to buyers seeking detached homes, established streets, larger lots, and convenient transportation access.

Many properties are older, so the quality of renovations, drainage, roofing, plumbing, electrical systems, and retaining walls should be reviewed carefully.

Central Coquitlam

Central Coquitlam offers older homes, renovated properties, and new construction in a central location.

Lot characteristics, lane access, home condition, redevelopment activity, and surrounding construction can all affect value.

Harbour Chines and Chineside

These neighbourhoods are known for established streets, mature landscaping, larger properties, and access to schools and amenities.

Buyers should compare privacy, renovation history, layout, street appeal, and long term maintenance needs.

Heritage Woods

Heritage Woods is popular with families seeking larger homes, schools, trails, and a residential community setting.

Consider elevation, outdoor space, parking, commuting time, and access to daily amenities.

Port Moody Centre

Port Moody Centre may appeal to homeowners who want access to transit, Rocky Point Park, restaurants, recreation, and community amenities.

The area includes condos, townhomes, and detached homes, creating several possible move up paths.

Citadel and Lincoln Park

Citadel and Lincoln Park offer established residential communities with both townhome and detached home options.

These areas may suit buyers who want more space while maintaining access to schools, parks, trails, and major routes.

Common Move Up Buyer Mistakes

Waiting for a Perfect Market

There is rarely a moment when selling, buying, interest rates, selection, and personal timing all feel perfect.

A strong move is based on your own opportunity, not perfect conditions.

Focusing Only on the Sale Price

The sale price is only one part of the transaction.

The price and terms of the larger purchase matter just as much.

Assuming Higher Prices Will Help

If the next home rises faster in dollar terms than your current home, waiting may increase the gap.

Shopping Before Planning

Looking at homes before confirming your sale value, equity, and financing can create unrealistic expectations.

Buying for Appearance Instead of Function

A beautiful kitchen does not compensate for poor parking, the wrong location, unusable bedrooms, or a layout that does not fit your family.

Ignoring Maintenance

More space usually means more responsibility.

Review the likely cost of roofing, windows, heating, landscaping, drainage, and general upkeep.

Creating Dates That Are Too Tight

A schedule with no room for legal, financing, or moving delays can create unnecessary stress.

Making Decisions Under Pressure

Pressure can cause sellers to accept the wrong offer or buyers to remove important protections.

A clear plan helps you make decisions based on your goals rather than fear.

A Practical Move Up Plan

Step One

Determine what your current home could realistically sell for.

Step Two

Calculate your likely equity after the sale.

Step Three

Review your financing and comfortable purchase range.

Step Four

Identify the type of home and neighbourhood that fit your family.

Step Five

Decide whether selling first or buying first makes more sense.

Step Six

Prepare your current home for sale.

Step Seven

Evaluate the price gap between your current property and your preferred next home.

Step Eight

Begin searching with a clear budget and list of priorities.

Step Nine

Negotiate the sale and purchase as part of one complete strategy.

Step Ten

Coordinate the financing, dates, legal work, inspections, and move.

Frequently Asked Questions

Is now a good time to move up in the Tri Cities?

It may be, particularly when the difference between your current property and the larger home you want has become more manageable. The answer depends on your equity, financing, target neighbourhood, and the specific properties involved.

Should I wait for my current home to increase in value?

Not automatically. If the larger home also increases, waiting may widen the price gap. Both sides of the transaction need to be evaluated together.

Should I sell before I buy?

Selling first provides greater financial certainty. Buying first may provide more flexibility. The correct strategy depends on your budget, risk tolerance, and the availability of suitable homes.

How do I know what my current home is worth?

A proper evaluation should consider recent sales, current listings, unsuccessful listings, condition, location, layout, improvements, and buyer demand for your specific type of property.

Can I use my equity toward the next purchase?

Many homeowners use the sale proceeds from their current home toward their next purchase. The exact timing and financing structure should be reviewed with a mortgage broker.

What happens if I buy before my home sells?

You may need to carry both properties temporarily. This can include mortgage, utility, insurance, and maintenance costs.

Should I renovate before selling?

Targeted repairs, paint, cleaning, lighting, and presentation often provide a better balance than major renovations. The right approach depends on your home and the likely buyer.

How early should I begin planning?

Starting several months before your preferred move can provide more options. Even when the move is a year away, planning early can help you make better decisions.

Final Thoughts

Moving up is not about perfectly timing the highest sale price.

It is about understanding the opportunity between the home you own and the home you want.

A softer sale price does not automatically mean it is a poor time to move.

If the larger home offers more value, more choice, or better negotiating terms, the overall move may be more attractive than it first appears.

That is why now may be the right time to take a serious look.

Not because every homeowner should sell.

Not because every larger home is a bargain.

And not because anyone should feel rushed.

Now may be the right time because the difference between the two properties may be working more in your favour than you realize.

The first step is to understand your current home’s value, your available equity, your comfortable purchase range, and the opportunities in the neighbourhoods you are considering.

Once those pieces are clear, you can decide whether moving up makes sense with confidence.

Thinking About Moving Up?

If your family is considering a larger home in Coquitlam, Port Moody, Port Coquitlam, Burnaby, or the surrounding Greater Vancouver area, the first step is a private planning conversation.

We can review your current property’s likely value, discuss the type of home you want, compare the difference between the two price points, and build a strategy around your goals.

There is no pressure to list immediately.

Even if your move is six months or a year away, understanding your position today can help you recognize the right opportunity when it appears.

Colin Colpitts, PREC

Apex Real Estate Group

Royal LePage Sterling Realty

First Class Service. Always.