Are you struggling to buy a home? Real estate in Toronto and the GTA has been incredibly unpredictable over the past three years. With an increase in prices, a decrease in supply and a rise in interest rates, we’ve seen prices go wild. In fact, prices have increased by nearly 40% since 2017. Even as an expert Toronto real estate agent, I cannot predict what the future market holds, but I do know that supply is still an issue and people will continue to buy! If you are looking to get into the market but prices seem out of reach, it’s time to create your own real estate opportunity.
Create a Real Estate Opportunity
I have been investing in real estate since 2010, but I bought my first house in Toronto in 2017. Actually, it was the peak of the market at the time. The house smelled like cat pee and cigarettes and both my boyfriend and my dad highly advised me not to buy it. Of course, I did because I am stubborn. But my point is, when I went to go and sell, I actually made a substantial amount of money because I saw what other people didn’t. I underwent my first renovation from top to bottom and came out on top!
That’s the thing about a lot of Toronto homes; looks are deceiving. If they don’t look good, if they aren’t staged and if they smell bad, people don’t want them! But that is YOUR opportunity to get into the market, especially right now.
Real Estate Succes Story
I had a client last year buy a house for a big discount because the house smelled like smoke really badly. It took him only three days to get the smoke smell out with ammonia and by removing the stinky drapes. Now that client has made a ton of money in the last year because of his willingness and foresight to see what a property could be. So don’t let smells and paint colours hold you back from a dream house. Sometimes the best deals are not found they’re created!
If you are interested in finding a dream home and creating a purchase opportunity for yourself, feel free to reach out for a chat at 416-728-5401.