Alright – it’s no secret that Ontario’s real estate market is Hot🔥
When you are buying a house, it would be fantastic if you can negotiate a great deal on the purchase price or even if you can just write a straightforward clean list-price offer. However, in a market where inventory is extremely low and demand is crazy high, the result is buyer competition, and subsequently often offers over list price.
Ontario is a great place to live and a lot of people want to put down roots here. Here are a few reasons that it may make sense to pay over list price in order to stake your claim on Ontario real estate.
If a home is popular and has multiple offers, it may be necessary in order to have a fighting chance of a seller accepting your offer over another. Historically in Ontario, homes appreciate in value. That means the cost of the exact same home today will likely be thousands more next spring/summer. If you pay over list for a home now, it will likely recoup that value in the upcoming months anyway. If you are planning on owning for a few years, the investment can make sense.
Interest rates are low……like crazy low. That can make the difference of tens of thousands of dollars in purchasing power. They’re not expected to last forever, which is why so many people are taking advantage of them. A lower rate can offset a higher price and keep your monthly payment the same.
Ultimately, as much as competition breaking into the market might not be ideal for a buyer…it’s a great thing to own property in a place like Ontario that’s a desirable place to live with stable home values plus consistent appreciation! Contact : mian@adnans.ca | mian.adnan@century21.ca | (647) 545 1174
mian@adnans.ca | mian.adnan@century21.ca | (647) 545 1174
When it’s time to sell your home, you want somebody that can get the job done – no broken promises, consistent updates, and results that make you feel relaxed and confident. ( Contact Adnan )
