I'm not sure if you're aware
But there really is no such thing as an ideal time to buy in real estate!
I'm sure you guys have all heard the phrase,
"the time to buy was yesterday and not tomorrow!"
Believe it or not, that actually does apply all the time no matter what the market condition is like.
Right now, this current market is an ideal time for a lot of Buyers!
Especially first time buyers!
To start making the move and start looking into buying your first piece of real estate.
If you can't buy resale at the moment then pre-construction condos is definitely something that you should be looking into. Even if you're a family with young children in elementary school, you should also be considering buying a pre-construction condo at this time.
Look, the market that we're in right now is not the first and it won't be the last time this will happening.
A few years ago we had low interest rates and 50 people bidding on every home. Overpaying from $50k to over $100k above asking price.
Today we have higher interest rates and prices dropping or staying flat.
However, if you ask me.. this is exactly the market that I would be in if I were a buyer looking to make a purchase.
Do you know how many people in these past few years have purchased a resale property... barely looking at the property they were buying? Thinking they were buying some home with so many upgrades, spending over $100,000 above asking price, meanwhile it was a DIY covid renovation hack job because people were locked down and decided to grab a hammer!!
Or how many people purchased a pre-construction condo without walking into a presentation center, without looking at floorplans?
Without knowing what their features and finishes were going to be in the next 4 to 5 years.
Buying with no incentives and the full 20% deposits paid in 18 months.
And ALL they cared to ask was…
"How much money am I going to make by the time it closes?"
Never in the history of the Toronto real estate market has that ever been a question for residential buyers.
Real estate is a long hold not a short term investment.
What your looking for is called the stock market!
Now, because of these interest rates being a little higher, this is making a lot of the resale listings stay on the market for a little bit longer.
But now you're able to walk in and actually see these homes.
Maybe one time maybe two times.
Really put in an offer in a home that you actually want and not something that you just have to get.
Now is the time to buy a pre-construction condo!
We are actually walking into some of the best presentation Centers.
We can see all the beautiful features and finishes, get to really know what we are actually buying.
Incentives are back and better than ever.
Décor dollars, rental guarantee!
Spread out deposit structures from first day of signing until last day of closing, which for some is between 3-5 years.
How do you think all the good homes got slowly eaten up in the 80's and 90's?
While developers were growing Toronto and the GTA, the market was a slump. They built presentation Centers, and people took time to shop around…
And looky looky where we now!
THIS is the ideal time that you want to buy in.
You're not competing with investors who are taking second or third mortgages from their home because interest rates were low.
You get to actually shop for a home. This is the ideal way you want to buy your home.
So if you ask me, I'll say it over and over again this won't be the last time we'll be in this market.
But this is a once in a lifetime market situation and if you don't realize the opportunity that's presenting itself right now then you will likely be stuck in the future rental market.
My name is Doriana and I'm out.
Some of the best Pre Construction Condos are coming out into the market today. Have a look here and lets get you started. It's always free to learn more about these developments! Never hesitate to get started and contact me directly!
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