Stay in big townhouse or "upgrade" to small detached?
We are thinking of moving to a detached, since our current townhouse does not have a yard, only a small balcony.
We found a really tiny detached bungalow near 404 and Steeles area, first floor is about 1200 sqft, with 3 bedrooms and 2 washrooms, and an additional 700 sqft basement apartment (an extra bedroom and washroom), also double garage.
We did some calculations, it will cost us about 25k upfront to move from the townhouse to the detached. The mortgage amount every month will be around the same.
We also pay a monthly maintenance at our current townhouse ($225 a month).
What are your opinions on this? The only thing holding us back is that the detached is pretty small compared to our current townhouse, and we are not sure if we will be used to it. On the other hand, a detached is a detached, and it has a decent sized yard and is freehold.
Any opinions will be welcomed, just want to get some different perspectives on this
EDIT: Added floor plans for both houses.