If you are looking to buy your first home to start that family you have always wanted and you are trying to find a friendly community outside of the city of Toronto, you should be looking in Newmarket and York Region in general. The real estate market in the town of Newmarket is currently one of the most popular in North America. The town has many new subdivisions being built with wonderfully designed homes that are all close to amazing amenities, services, facilities, and entertainment.
The real estate market and availability in Newmarket is solely based on the demographics. In the last decade the town has seen a huge influx of over a million new people which initially caused a massive shortage of housing to meet the need of new residents. To compensate for this shortage the town has begun many new projects to build new housing within the area.
Though there is a downfall in the US economy that many think will carry over into the Canadian market, this is however not true at all. The Canadian economy is actually thriving and this has caused a boom in the Newmarket real estate market.
When you do decide to buy a new home you need to collect the proper information about the area you are buying in. Determine whether you are looking at a “buyer’s market” or a “seller’s market”, an intense real estate market ensures that the pricing is not raising artificially and you are buying a home based on the actual value of the home. The newly constructed homes in York Region are in very high demand as the towns grow with each passing year. These new homes are being constructed in prime areas and offer the new residents the excitement of the downtown core while still living in a calm, clean and safe area.
If you want to obtain property that is geographically comfortable for you and your family that does not come with the usually high costs of owning a home than the York Region condo real estate market may be something you want to look at. Owning a condo can be a great investment on your way to owning your first home.
Selection of a home is a herculean task. One needs to get endorsed with impending factors involved in buying and selling a home. Concerns are different if you are a buyer, similarly you can find different sets of advised precautions if you are planning to sell your home. Many look towards a purchase of a home as a strong security in case on any intermittent fall back. However, understanding the whole concept as one is important. There are two streams of opinions regarding getting new house. One option lets you to buy readymade house like in case of Maple Homes. Or you can also choose to build it as per your choice. Anyway it’s perusal of dream comes true. There are some subtle factors, which governs the decision out of these two options.
Feel The Vibrant Difference!
House is a little different than home. You can realize this difference as homes are constituted on the walls of harmony, love, and understanding. Homes always have immaculate bonding of sharing and caring. However, we must respect the practical aspects involved during procurement of these pride possessions. It becomes imperative to understand these factors while buying properties at Maple Houses or Newmarket Houses. These are techno-commercial factors, which govern the entire deal and understanding each aspect makes it smooth. Surfing on internet to find out some help on understanding factoids is a good idea. In fact, it is a scary heap of paperwork for the first time buyer. Contacting a real estate agent in Newmarket can also help with this process.
Easy Solutions Are a Click Away!
There are always means and ways to get easy going through tough situations. You can request help from adroit real estate agents who are functional in Newmarket Homes, as they have in depth knowledge on all aspects involved in these sorts of deals. Amazingly, these agents can help you in every possible way they can. When you hire them, they become your representative and work in your interest. Starting from identifying the property to finalizing the paperwork, these agents are always assistive and co-operative.
Will Widening Your Vista Widens Leeway? Multifaceted options are available for you when you act smart, do a little homework and hire perfect service. All the hassles are taken care of and you are left with complete peace of mind and your new home. When you buy a ready property like Vaughan homes, you can always plan to move in swiftly.
Every week for years now I have talked with numerous buyers and sellers. Most understand the market and that it generally goes up, but there are always a few naysayers. From them I consistently hear these words…. we are in a bubble, or I am going to wait until the price drops, when do you think the market will break so I can get in at a lower price?
When I first started in this business the average price in Toronto was in the $60,000 range. Yes, that does date me doesn’t it? Oh well. Today the average Toronto home price is $485,000.00. Eight times higher than when I started. This confirms for me what I always say about City of Toronto Real Estate. It at least doubles every 8-10 years, actually more than doubles since I am no where near 80 yet. Keeping those numbers in mind, I thought you might find these statistics below with regards to Luxury Condo costs around the world rather interesting. This information was found in the Financial Times of London and it is the cost per square foot.
London PPSF $5440.00
New York City PPAF $4480.00
Hong Kong PPSF $4400.00
Los Angeles PPSF $3360.00
Sydney PPSF $1600.00
Toronto PPSF $1200.00 – $1500.00 at the Four Seasons
Mumbai PPSF $1200.00
Shanghai PPSF $1100.00
The next time you get to thinking that we are in a blip, a bubble, or the market is about to crash, give those numbers some thought. The market does cycle and it can drop substantial, like back in 2009 when it cycled down for roughly 6 months and created a great buying opportunity for savvy buyers with a 15% drop in values. It regained that 15% and added 4% more in 2010. Toronto does this consistently. What I am saying is, it recovers and keeps on moving up.
For years now I have seen many of the naysayers literally get locked out of the marketplace and many of them for good, others ending up buying in areas that they really didn’t intend to live in such as Newmarket or Bradford. It is my humble opinion that you cannot lose money if you use your noodle and invest wisely in Toronto Real Estate. Remember that when it comes time to sell, your home is your biggest tax free investment in Canada. In fact, it is the only truly tax free investment you have at this point in time. When you choose to retire and take money from your RRSP it will be taxed at the top tax rate as your tax deductible expenses will have dropped. Therefore you should make it a point to own either the biggest home you can comfortably afford or a home in the most expensive neighbourhood or condo building that you can comfortably afford. The better the neighbourhood the more it will go up. A 5% increase on a $500,000 home is $25,000.00 but the same 5% on a million $$ home is $50,000. And we do tend to increase 5-6% per year on average.
Let’s take right now, for instance, the end of June. All of a sudden things are starting to slow in some neighbourhoods… not all mind you. It is a combination of two things. One is we are moving into the summer slump. Folks aren’t viewing homes or Open houses on the weekend because they are out of town at the cottage or on their holidays. In the summer to Toronto comes a Laissez-faire attitude to things in general. Why not! We all need a break and so much of our year is cold. We’ve got to enjoy that nice weather when we can. However CMHC did predict in the early part of the year that the housing market would start to slow in the second half of the year. So it is possible that this factor is kicking in as well. The truth is we won’t know until about 90 days out.