Great Time to Buy Real Estate in Toronto
Now is a great time to buy Real Estate in Toronto!! Interest rates are at an all time low - the lowest they've been in the past 10 years. Although banks are putting tighter restraints on lending, having the ability to take advantage of these low interest rates can be a challenge. However, if you are a buyer with secure employment with a decent down payment, home ownership may be a smart investment in today's market.
Real Estate is also now much more affordable than in the past couple of years. The average price of real estate in central Toronto has decreased by about 10% over the past year alone. For those buyers who couldn't afford home ownership over the past couple of years, this market change now represents a great opportunity. First time home buyers can also take advantage of government incentive programs that can help out with down payments and costs. There are programs such as the RRSP Home Buyers Plan and the first time buyers land transfer tax rebate.
In 2007, it was very common to see properties sell right away or multiple offers on one property. Today we are seeing much less of this which makes this market a 'Buyers Market' (too much inventory giving buyers the upper hand). Currently, many homes are sitting on the market for a longer period of time causing more room for negotiations. Don't wait for the day to come when you say "Could have, would have, should have!!"
Call me today to discuss your options, I'd be happy to assist you!
Real Estate is also now much more affordable than in the past couple of years. The average price of real estate in central Toronto has decreased by about 10% over the past year alone. For those buyers who couldn't afford home ownership over the past couple of years, this market change now represents a great opportunity. First time home buyers can also take advantage of government incentive programs that can help out with down payments and costs. There are programs such as the RRSP Home Buyers Plan and the first time buyers land transfer tax rebate.
In 2007, it was very common to see properties sell right away or multiple offers on one property. Today we are seeing much less of this which makes this market a 'Buyers Market' (too much inventory giving buyers the upper hand). Currently, many homes are sitting on the market for a longer period of time causing more room for negotiations. Don't wait for the day to come when you say "Could have, would have, should have!!"
Call me today to discuss your options, I'd be happy to assist you!
Labels: Real Estate
posted by Bess at
10:16 PM
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