The MyPlace Playbook // 013

Hello Everyone,

After last week’s email, I got a few great questions (thanks, by the way!) from folks wondering:

“What if we’re planning on selling, can we still access equity?”

Short answer: Absolutely.

In fact, if you’re thinking of selling, whether to downsize, upsize, or relocate, this can actually be one of the smartest times to access the equity you’ve built up.

Here’s why:

If you’re buying again, we can often port your mortgage (that means taking your existing mortgage rate and terms with you to the new property), which can help you avoid penalties and keep that great rate you’ve already got.

And even if you’re not buying again immediately, accessing equity ahead of the sale can give you the flexibility to:

• Tackle smart renovations that add real value to your sale price
  (Think curb appeal, fresh paint, bathroom updates, not gold-plated kitchen faucets 🫠)

• Bridge the gap between selling your current place and buying the next

• Free up cash to get everything lined up smoothly, especially if timing between homes is tight

• Stage the home properly for maximum value (you’d be shocked what a few changes can do)

Use your mortgage portability to your advantage

If you’re planning to buy another property, your mortgage may offer portability which allows you to:

• Keep your existing mortgage rate (if it's still competitive)

• Avoid early payout penalties

• Transfer remaining term to the new home

It’s not one-size-fits-all, and timing matters, but if you let me know what your plans are, I’ll walk you through what’s possible.

Thinking about your next move?

Whether you're upsizing, downsizing, or just curious about what you could do, it's worth having a quick chat. No commitment, no pressure.

Let’s map it out.

— Andrew
MyPlace Mortgages