In the more affluent areas of Toronto there is a huge demand for larger size condos. The sweet spot in size range is 2000-2500 sq ft - this size range is what the empty nesters are looking for when they leave their homes and downsize. However there are other criteria that this niche market demands: Outdoor space, Valet and Concierge services & storage space. Many of these large condo Buyers are coming from homes that they have lived in for say 30 years, a move is a big adjustment. The biggest question becomes "where do we put all our stuff?"
There is certainly some paring down that is involved. Getting rid of all the stuff you don't need and don't use. Same goes for square footage in the big house - alot of the rooms almost never get used. In fact, the use of space in condos (in a well designed layout), can be much more comfortable and efficient than in houses with twice the square footage.
At the end of the day condo living is a lifestyle change that the majority of people come to enjoy. Especially when you travel to escape Toronto's deadly winters.
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