Investing in Real Estate for 2016 in Toronto
As the year is coming to an end, most of us are thinking of “what to do with our money” . Financial planning is on all of our “New Year’s” list of things to do after all the holiday spending. Another reason for looking at real estate would be changes in marital status. New job opportunities.
How the market flows
January is a very good time to look around and shop for deals because it’s consider the “quiet” season for real estate. This is when you get deals because there’s less listings on the market because of the great Canadian cold. This is a great time for buyers to purchase if they didn’t get a chance to in the hot spring market where there are multiple offers on one property.
Realistically if you were to purchase a home in January the closing won’t be until February or March. Closing dates are negotiated depending on the seller’s situation. While in the summer sellers are looking for multiple offers, winter sellers will usually accept any reasonable offers.More importantly, you would be able to negotiate better terms if you are the only offer.
If you’re looking for pre-construction condos, I would suggest investing in neighbourhoods that are in the core of the city where you can see major redevelopments. There is more of an opportunity for growth if you invest in a new project earlier than everyone else. I would also suggest visiting new site and walking around the area that you are interested.
January is a great time to look for new incentives offered by developers.
At the end of the day it’s all about “location, location, location”.
To get more information on investment properties within the core of downtown Toronto. #416.903.7032 e-mail firstname.lastname@example.org
Happy house hunting!
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Living Realty Inc., Brokerage
a: 7 Hayden Street Toronto, M4Y 2P2
w: www.winslai.com e: email@example.com
*Top Producer, President’s Award and New Home Sales Silver – 2017