We are now seeing the best opportunities to purchase in several years. Competition for properties is low, interest rates are a bargain (3.99% for a 5 year fixed) and Canada looks like it will have the quickest economic recovery. Now is the time to make a move and create some wealth for your future.



If you look you can find a situation where you have a strong Toronto Real Estate Agent representing you and an eager seller or a property that has been on the market for a long time. Just make sure your agent is capable of negotiating and can prove that they have done so in the past.

The move up buyer is the person who currently owns their own home but is looking to buy a larger lot, a nicer home, something that is completely renovated or maybe leaving a condo for a house. It is true that you will lose money selling your existing home in the current market, but that is fine because you will be buying something at a higher price which will allow you to make back every penny of the loss and create new gains.

The real estate buyer who is in the best position is the one who was on the fence 6 months ago about whether or not they should buy a better home or someone who received a promotion or raise but has been too busy with the new job to execute a move. As long as you have some job security, now is the best time to make the jump.

If you bought your current home for $600K in 2007 and now you can maybe sell it for $500K. You have taken $100K loss. That is okay if you buy a more expensive home in the same market because the home that was bought for $1.2M in 2007 is only selling for $1M today. Therefore you make back the $100K you lost on the sale of your existing home plus you saved an additional $100K by buying in today's market. The above mentioned situation will vary depending on your specific situation so be sure to work with your real estate agent to work out the exact figures to ensure it is a profitable move for you.

In central and downtown Toronto it does not seem like things are going to slow down much more, we are starting to see the surplus inventory dry up and there is a lag in new listings.

First time buyers are also in an amazing position to jump into the real estate market feet first. The official description of a first time buyer is someone who has never owned property before or has not had an interest in owning a property for at least 4 years.

There are a lot of government programs available to assist the first time purchaser. There are rebates for land transfer tax, both municipal and provincial, there is a tax credit to help with closing costs, and you can access $20,000 of your RRSP, tax free, for your down payment. And most importantly, at the introductory level there is a surplus of properties to choose from and negotiate for. The key is to have an agent who is not afraid to go in and fight for the best price for you.

Investment Buyers are also in buying heaven. Right now there are many homes that are available to buy that have multiple units in them. The rental market has stayed strong in Toronto proper and there are still a number of potential tenants filling the appointment books. This is the time to buy because you can lock in a low interest rate with a nominal down payment, which will allow all of the operating costs to be carried by the rental income.

The other segment of the investor buyers are builders. If a builder has sold off their finished products and are now sitting with cash in the bank they can buy up inventory at a good price for future projects and sit on them until the higher markets return.

In every market there are opportunities to be had, you just need to know where to look and be in the right position to take advantage of them.