How to Find a Good Deal on Real Estate in Toronto by:Robert Kennedy
There has never been a better time to buy real estate
. If youre in the market for a new home, you will be pleased to know that you can purchase almost any home you want, in any neighborhood you desire, for the price you can afford. Good deals are everywhere you look. From foreclosures to bargain priced luxury homes, from rental properties to commercial buildings. You name it; its yours for the taking.Perhaps the only positive thing in the housing market right now is the prevalence of good deals. It is a buyers market. The supply of houses far outnumbers the amount of people that are shopping for a new home. This has resulted in ridiculously low prices. While most deals in todays market are steals, not all of them are good deals. Even if you do find a great deal, there might be something out there better. So, how do you know you are getting the very best deal on real estate in Toronto?
The first thing that you need to do to ensure that you are getting a good price is to look and compare. Study the housing market in your neighborhood or in the neighborhood you want to live in and see how much houses are going for. Look for houses of similar size and quality that have sold recently so that you can get an idea of what the average prices are. Do not base your assumptions about price on what you know that homes have sold for in the past. Its a whole new market and homes are being sold for a lot less than in the past.
When you start shopping for a home, do not limit yourself. Look at as many homes as you can and compare asking prices. A better deal might be just around the corner, but if you become emotionally attached too early in the game, you might miss out on it.
You should also keep a close eye on quality. Homes that are priced cheaply may have hidden problems that will cost you a lot of money to be fixed. For example: A new roof could cost thousands of dollars. Structural and foundation issues can cost tens of thousands of dollars to fix if they can be fixed at all.
Avoid basing your assumptions about a house on cosmetic issues. Ugly houses are often the best bargains. Paint is cheap. You can turn an ugly house that nobody wants to buy into your very own bargain beauty in the matter of a few weeks. And it will not cost you a fortune to do so.
So, if you are looking for a good deal on real estate in Toronto, do your homework; keep your eyes open; and compare, compare, compare. The work you put in today will pay off when you find the house of your dreams for a fraction of your housing budget.
About the author
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