Is this good time to buy real estate in Toronto/GTA?
Still about 10 months away.
Question is looking at current sluggish housing market. Should I act now and buy or wait for my 20% down payment to complete?
Feb 12th, 2019 8:09 pm
Feb 12th, 2019 9:00 pm
Feb 12th, 2019 10:02 pm
Feb 12th, 2019 10:07 pm
Feb 12th, 2019 10:16 pm
Feb 12th, 2019 10:18 pm
I do intend to stay, it will be my first home.
Feb 12th, 2019 10:26 pm
Feb 12th, 2019 11:32 pm
It honestly comes down to your income and savings. I’d cross off Toronto itself, except for a few pockets in Scarborough. Look at Mississauga for something a little more reasonable.
Feb 12th, 2019 11:49 pm
Feb 13th, 2019 1:25 am
Talk about hyperbolic. When was the there a time where every listing had bidding wars? Right now probably is a good time for detached, but I can’t imagine 10 months would be much different either.Sanyo wrote: ↑ Arnold Schwarzengger bought a 6 unit apartment complex in the 1970s (his bodybuilding years) for $245,000 in Santa Monica, California.. probably worth 3-5 mil today if he kept it.
What does that have to do with anything? he bought during a crazy inflation time of the 70s and could have easily say "oooo too risky better not" but long term doesnt matter you will be ahead.
Buy a house and enjoy raising your 4 year old. Rates are all but done raising for the time being. Banks in fact lowered rates recently... go buy... nows the time where you can go in and buy and even do inspection... do you want to wait for bidding wars on every house again!?!?
Enjoy and buy
Feb 13th, 2019 2:04 am
Feb 13th, 2019 3:00 am
I'm buying a condo in DT TO right now and 90% of listings I look at have multiple offers. My current home I had to beat 5 other offers (and I lost similar bidding wars on 5 or 6 other houses in a 6 month period before that), and this was in KW in 2017.
Feb 13th, 2019 4:11 am
Feb 13th, 2019 4:16 am
Well that's not surprising since you bought a house in southern Ontario in 2017, the top of the bubble for houses (though not condos).
Feb 13th, 2019 4:29 am
It is naive to think every place in southern ontario is the same. It was indeed the top of the market in the GTA but in KW it was a very small dip and prices have gone back up since. It is totally beside the point though, you're just being spiteful (which is totally ok if it makes you feel better, you do you).