A great time to buy

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The economy is recovering after years of increasing interest rates and high inflation, and there are deals to be had with low deposits and incentives

Timing really is everything in life, especially when it comes to buying real estate. In this cyclical industry, sales fluctuate, as do prices and availability.

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A great way to look at any new home or condo purchase is with a long-term outcome in mind. Historically, real estate has proven to be an excellent investment.

In a hot market, your return-on-investment may begin to happen before you even move in; in a softer market, it may take longer.

Now is an incredible time to buy. In fact, it has never been better. We are just starting to recover from the year of increasing interest rates and high inflation, and there are deals to be had with low deposits and incentives.

Timing affects home and condo buyers according to their personal circumstances and decision-making styles.

Some plan for months and research to the hilt; others walk into a sales centre and make up their minds right away. There are other ways to look at timing as well, such as where in the selling cycle a community is.

For example, purchasing from plans means you will enjoy the most choice of lots and designs, or in the case of condominiums, of suites, floors and views.

Getting in early also means you have time (up to 3 to 6 years with a condominium) to plan for your move and save money toward your purchase.

If you have purchased a smaller home or a condo for the first time, you can pare down your possessions, check out multi-purpose furniture and think about décor so you can make the most of your colour selection appointment.

Being able to choose features and finishes is a wonderful perk of buying early. Plus, builders often include Grand Opening specials that can save you thousands. Buying early also means you may earn equity before your occupancy date.

You may, however, opt to wait until a condo or low-rise community has been for sale for a while, to see how well it is being accepted by the buying public.

At Baker Real Estate Incorporated, we usually see a jump in sales when construction starts on a building. For many, this peace-of-mind is priceless, because it means the builder has secured enough sales to obtain financing and start building.

There are also buyers out there who prefer to purchase late in a community’s or condominium’s sales process, when there are built homes and suites available for quick move-ins.

Features and finishes are already installed – and remember that even the standards today result in beautiful, functional surroundings.

On a financial note, builders sometimes offer special incentives on the final few homes and suites, plus buying late in the selling cycle means you get to enjoy your new surroundings immediately.

Outstanding architecture, amazing amenities, fantastic features and finishes – all of this can be yours in convenient locations close to public transportation, shopping, entertainment venues and more.

You can find something wonderful to accommodate every lifestyle, design preference and pocketbook, and enjoy warranty coverage in the process.

Why not build equity while building your future in a new home or condo? And the sooner, the better!

Barbara Lawlor is CEO and Partner at Baker Real Estate Incorporated. Keep current with The Baker Blog at blog. bakerrealestate.com.