Why You Should Not Wait to Purchase!
Buying a home is a big purchase and understandably, there are many decisions that have to be made prior to putting pen to paper and submitting an offer. Many of these will be taken care of before even seeing your first home. Do as much decision making as possible before beginning the search, as when you do find a place you love, it is best to make the move and purchase right away.
The GTA area is recognized all around the world for being a prime area to live and work. The stable Ontario market has attracted home owners and investors for decades. More and more people are working towards living in the GTA, and more people means more demand with a higher price tag for both condo and housing listings. If you see a home you love – go for it! You never know what the real estate market will be like next year, or even in 6 months. The prices within and around the GTA have risen exponentially and continue to rise. According to the Toronto Real Estate Board, the average price of a home was $627,867 in September of 2015. In 2016, that average had risen to $755,755- the largest increase year-after-year in over 10 years! The best time for buying is definitely right now!
Many new home buyers are noticing the skyrocketing prices of homes within the GTA and surrounding area, but these high prices do not have to be discouraging. Potential home owners are still able to get in to the real estate market by purchasing a condo. Condos are a great alternative, especially for new home owners who still want to live and work within the GTA, and for those looking to downsize.
There is no better time to buy than right now. Delaying your condo purchase for too long could result in the market pricing you out. Furthermore, with interest rates currently so low, now has never been a better time to contact your real estate agent and find out what is on the market that best suits your needs!