Thinking of Entering the Real Estate Market in 2021? Here is What You Need to Know.
Thursday Dec 17th, 2020
Remember back in March when we all showed our superpowers when it came to adapting and setting up our work-from-home spaces? Well, it probably won’t surprise you when I say that a number of companies have made the decision to preserve elements of the current work-from-home structure that they’ve implemented. Therefore, a lot of people are taking steps to seek out a home that will accommodate the needs of our new daily routines.
Back in the spring of 2020, working from home was daunting and in a great deal of scenarios, inconvenient. Now that time has passed and the initial adjustment period has ended, we know what we need in a home to accommodate both our personal and professional lives.
Here are the top 3 things to know when entering the real estate market in 2021.
Location Location Location!
Of course, one of the most important things when buying your home is ensuring that the area you’re about to settle in has what you need. There has been heavy interest in the more suburban areas of Toronto over the last 10 months and we are anticipating the demand being heavier than the supply when it comes to the housing market. That said, the search to find your ideal home becomes much easier when you’ve narrowed down where you want to be. The best place to start your search is always online. Let Google become your best friend and take advantage of all the ways in which you can tour neighbourhoods online. You can find almost anything you need to know about an area and don’t worry; I can help you with the rest!
Be Prepared To Be Flexible
The supply of homes will continue to be smaller than the demand for the foreseeable future, so it is important to adjust your expectations accordingly and do your best to prepare for some flexibility within your ideal moving timeline. It is the best way to avoid compromising on what you want in your home. It can take some time - especially now - for what you want to be available. But believe me, when you do find your dream home, it is worth the wait.
Prepare Your Budget and Get Mortgage Pre-Approval!
Our finances have changed a lot over this past year, which makes knowing what your budget looks like even more important. Once you have your budget figured out, the next recommended step is to get your mortgage pre-approved. Knowing what you qualify for and eliminating the step of approval once you’ve already put in an offer, will make that process much easier. Because we are anticipating the continued growth in the number of prospective buyers, having all your finances in place and mortgage pre-approved will put you one-step ahead of the game and one-step closer to being in your new home!
Email me at email@example.com and let’s talk more about getting you ready to buy the home that’s right for you in 2021!