Lately, a few of my clients have asked me about the future of the Toronto Real Estate Market. I’ve told them what I think will happen and why, but many think that the bubble has or will burst and are very unsure about moving up to a more expensive house or condo, or even buying their first.
If you own a home or condo and are thinking of moving you’ve still got some great options.
A few of my clients have decided to renovate their home and from their experiences I can tell you that it’s not easy to live through a renovation. The best way that I’ve seen my clients handle it is moving out and renting in the neighbourhood so that their lifestyle doesn’t change. Also, with a little planning (and a lot of supervision) you can end up with exactly what you wanted!
Buying and Selling in the same market
Although this one is tricky to pull off it can be done. The theory is that if you buying sell in the same market then all things being equal you won’t lose. The issue here is that lately the market is changing quickly, and its either easy to sell and hard to buy or vice versa.
Stay in your existing home and find a safer or “better” vehicle to invest your money in. If you go this route, please ask me for an opinion of your homes value (it’s free) – It may be worth more than you think!
It’s totally up to you, but you don’t hold onto a stock or an investment if you think that it’s value is going to go way down do you? Probably not. You get an expert opinion of how low it will go and then and you decide when it’s time to get out. It could be now.
Call me at 416-671-5775