Despite the pandemic, real estate throughout Ontario and Canada has consistently set records in 2021!  With the continuation of provincial restrictions and the uncertainty of a return to normality, buying and selling a home has become more difficult now, than ever. That is why we wanted to share with you our top tips for buying in the current real estate market.

  1. Focus your search on pre-construction homes.

Whether you are looking to invest or purchase a home to live in, we always recommend to our clients to look into pre-construction properties, first.  In fact, new developments have many benefits, which has led them to sell faster than resale homes and this is why they have become popular, amongst first-time home buyers and investors:

  • Demand has increased supply and this year, we have had multiple new construction launches, every month that have sold out in days!
  • New developments are easier to secure at today’s market value and you can avoid the overbidding wars that have become the norm for resale properties.
  • Rather than one house going on the market, pre-construction projects no matter if they’re in Ontario or in Texas, release hundreds or thousands of new homes in every phase, making them much more attainable.
  • Purchasing a pre-construction home allows you to save, budget and plan your finances properly.  Unlike resale properties, with a pre-construction home, many builders give buyers eight to fifteen months to pay their deposit in increments, rather than a month or sometimes, even less!

  • Pre-construction houses or condos, allow you to customize the property to your liking.

    • 2. Purchase a property that will make for a great home and long-term investment.

We are honoured to be able to say that we have helped thousands of families purchase, not only their dream home but also an investment they can rely on, to increase in value over time. In such a competitive real estate market, it can be easy to get caught up and settle for a property that may not be the best for the long term. Therefore, how can you make sure to avoid that? 

  • Research and find a team that is informed about the present and future plans of any city. 
  • What may be considered a small town or neighbourhood today, can grow to become an attractive hotspot in only a few years.
  • Many cities that have grown throughout the last couple of years have seen an increase in their property values, as more people look for larger homes (which are scarcely available in the city) that are still close to everything urban life has to offer.
  • 3. Expand your search to cities outside of Toronto.

Many cities on the outskirts of Toronto, such as Caledon, Barrie, Vaughan, Mississauga, Markham and more, have expanded in recent years.  Many of these cities have a surplus of larger properties at a more affordable price.  However, they also offer many other benefits. Here, are some of the reasons these locations have become a go-to in the real estate market, especially during the pandemic and some of our favourite projects in the areas.

  • These areas have grown their transit access, making it easy to commute throughout the province.  ​Joy Station Condos, located at Bur Oak Avenue and Markham Road is conveniently located just steps away from the Mount Joy GO Station, making it a great option for those that still have to travel to the city for work.
  • The locations offer the best of both worlds with a blend of sophisticated urban living and a small-town charm, such as The Mill Landing in Georgetown or Caledon Trails.
  • These areas continue to invest in better infrastructure of highways and roads, as well as shops and dining experiences, making it attractive and accessible for city lovers!  M4 Condo’s in Mississauga is a great project that brings transit, culture, shopping, friends and family together, into one dazzling new neighbourhood.

Although the pandemic has altered and impacted the real estate market, it continues to be one of the best investments you can make.  With our expertise and unparalleled dedication, we are proud to have been able to help our clients make the best purchase decision, with the greatest return, even in such uncertain times.

For more information about the current market and all your real estate questions, follow us at @sahilpunnirealestate

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