June 2020 RSS Feed

Found 4 blog entries for June 2020.

With the spring market coming to a close after an abnormally slow season, many potential buyers are asking themselves if now's a good time to buy. It’s a fair question, since the latest data suggests that activity might warm up heading into summer, and sales have increased by 55.2% from April to May.

If you find yourself in this position, there are a few factors to consider before making a decision. 

 

Better Price vs. More Variety

Pent up demand will likely result in a busier summer than usual. If you want to beat out the competition, now would be a good time to jump into the market. With less people competing, your chances of sparking a bidding war are much lower, and would likely result in a better closing price for a home.

On the other…

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The future of Toronto's housing market may be uncertain, but there are clear signs that activity might warm up heading into the summer. 

According to the latest MLS data, home sales shot up by 55.2% from April to May with 4,606 transactions in the GTA. The number of new listings also increased by 47.5% compared to April, with a total of 9,104. 

The average selling price rose 3% year-over-year from May 2019 to $863,599. 

Since the spring market started later than usual, there’s a good chance that we’ll experience a busier summer market as a result. 

While we don’t expect to see a record breaking year as was once predicted prior to the health crisis, we are optimistic that the housing market could accelerate as the economy reopens.

Stay tuned for more…

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How to save for a down payment

Buying a home is a huge commitment, and likely the most expensive purchase you will ever make. The first financial cost you can expect is the down payment. A down payment is the amount of money put towards the purchase of a home, which represents a part of the total payment often covered by a mortgage loan.  

 

How much is a down payment?

In Canada, the down payment amount depends on the price of the home. The minimum down payment is 5% on the first $500,000 of the home price and 10% on any portion exceeding $500,000, up to $1 million. Homes priced above $1 million require a minimum 20% down.

The more you can put for your down payment the better. Benefits of a bigger down payment include lower monthly mortgage payments, paying less…

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Top 4 Tips When Viewing A Home Virtually

As technology evolves and improves over time, online home listings get more sophisticated. Now more than ever, viewing a home online has become necessary as new rules and regulations encourage social distancing. But finding your dream home online without seeing it in person can be a challenge. 

Here are the top 4 things to take into consideration when viewing a home virtually:

 

Virtual Tours

If a physical walk through isn't an option, then a virtual tour can be a great alternative. This will give you an opportunity to get a better feel for the home, and explore the floor plan and layout without having to actually set foot on the property.

Some realtors even offer virtual showings, where they visit the property on your behalf and give…

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