Buying a House or a Condominium in Toronto

Buying a House代写 Toronto is one of the largest city in Canada.The demand for new houses and condos has remained relatively attractive to investors.

Introduction

Toronto is one of the largest city in Canada. The city has high growth potential as more investors build skyscrapers to utilize the available space. The demand for new houses and condos has remained relatively attractive to investors. Buyers preferences are changing, ranging from building styles, space, finishing, and prices. Large supply of new houses and condos have given buyer choices for home ownership. Consequently, the prices have continued to rise regardless that the market is flooded with different financing and ownership options. The trend in the market has favored investors at the expense of buyers. People need to know how and where to choose a house of their preferences, and they can afford it.

Background  Buying a House代写 

Over the decades, house prices in Toronto city have been spiraling high. The cost of acquiring a house requires buyers to have prior knowledge about the real estate market. Buyers have the option to either buy a condo or an apartment depending on their preference and affordability. The cost of a house in Toronto is determined by location, repayment methods, demand, and supply forces. As more and more people come to the city, they need to own a house and hence necessitating a well-documented report on the house prices and financing options. It is essential to determine the cost of buying a house or a condominium in Toronto and hence make a recommendation.

Buying a House代写
Buying a House代写

Methodology  Buying a House代写 

The report will require information about mortgage rates, house, and condo prices. To acquire this information required a research survey. Questionnaires and semi-structured interviews between the researcher and house owners were conducted. The research surveyed ten homeowners from various parts of Toronto city. The participants were expected to respond to house prices, mortgage rates, maintenance costs, and reason for their choice. The participants were randomly selected from people who own homes condos in Toronto. Below is the sample of the questionnaire used.

Questions

1.Where do you own a house?

2.Do you own a condo or an apartment?

3.How much did you buy the house?

4.What were the available financing options?

5.Are the interests rates favorable?

6.Which other costs did you incur to acquire your house?

Review  Buying a House代写

In recent years, house and condo market in Toronto is dominated by stories rising prices, rising rent, limited supply, and a decoupling. The tides in the market are getting rougher and tougher for buyers, builders, and renters. The issue of affordability is shutting out first-time buyers in the city. It is estimated that preconstruction condos are set to top $1000 a square foot in 2019, which is a drastic 68 percent increase from 2016, which at the time stood at $565 a square foot (Carapetian, 2018). However, after years of dramatic price increase, sales of new homes have gone down in 2018, and unsold houses have piled up (Alini, 2018). Buyers and investors should take caution when investing in new condos and houses, especially in short-term. Buying a House代写**成品

The interest rates are lowering for the last one decade after changes in interest rates and mortgage regulations bite.

The city has joined other global metropolises like London and Sydney. International investors are retreating, while domestic buyers are balking at higher prices. According to the Building Industry and Land Development Association, sales of new homes have fallen to 25,161 since 2017. Family homes declined by 50 percent in 2017 to 3,831. The sale of condos has declined by 38 percent to 21,330. BILD report shows that the price of a new family home has gone down by 6.7 percent. These reports show that new buyers and investors have to be very careful in the choice of houses or Condo they are buying. Buying a House代写**成品

Buying a House代写
Buying a House代写

Conclusion  

Based on the above analysis, the buying houses and condos is full of uncertainty regarding costs drivers and buyer choices. A research is necessary to analyze and evaluate buying of houses and condos in Toronto. The research will form a strategic reference for recommendations to buyers on the best location in Toronto to buy and favorable payment options.

References  Buying a House代写

Carapetian, P. (2018). How much does it cost to buy a condo in Toronto? Retrieved from https://pierrecarapetian.com/tips-buying-condo-toronto-2019/

Alini, E. (2018). Rent or buy? How stagnating home prices and high rents affect that equation. Retrieved from https://globalnews.ca/news/4206474/rent-vs-buy-canada-2018/

 

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