As the housing market in the GTA heats up for spring and summer, the number of homebuyers looking for new properties increases exponentially. With a limited housing supply in the city, many buyers will lose out in bidding wars when they do finally find the home worth making an offer on. Because the supply of homes available will not meet the demand of searching purchasers, many buyers will be forced to retreat back to the ever-relentless rental market. And just look at the rental market in Toronto… vacancy rates are at an all time low. Approximately one third of all people in the GTA are leasing, and the supply of affordable rentals is also on the decline. Fortunately, there’s a
After looking for a residential property with a rental unit for over a year, my wife put me in touch with Trish, a friend of a friend. She showed me two properties in all, both of which were more suited to our needs than any I had seen the previous year. We put in a low-ball offer on the second one, and after some negotiations, this offer was accepted. We firmly believe, having spoken with other agents and with our friends, that we got an amazing deal on this house, which we credit to Trish’s excellent negotiating skills, her knowledge of construction (she is a former contractor) and her general get-up-and-go (she is the only agent I know who actively
With the spring real estate market in Toronto starting to warm up and the weather finally showing signs of doing the same, so begins another season that is abuzz with activity amongst homeowners. Everywhere you turn it seems that new houses are popping up for sale in neighbourhoods across the city, while banks are busier than ever thanks to line ups of eager buyers waiting to get their mortgage pre-approvals. While spring might still officially be a few weeks away, March is a great time to start getting ahead on your real estate goals. Whether it be preparing your house for sale on the open market, or looking into design trends that you want to incorporate in your next property
