The document discusses factors for buyers to consider when deciding whether to purchase a home now or wait. It notes that interest rates are low, allowing buyers to lock in affordable mortgage rates. Home prices are also gradually increasing, so waiting could mean paying more. While a market correction is possible, any dip in prices is predicted to be small in the Toronto area. Overall, the current conditions make it favorable for buyers to purchase now rather than wait. Hiring a real estate agent can help buyers make an informed decision through access to market analyses.

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Should You Buy Now or Wait?
As licensed Realtors® we are often asked these questions:
 Is this the right time to buy? (Is the real estate market too hot to buy?)
 What are the advantages or disadvantages of buying a home now?
 Will the prices of homes come down (or go up) in the near future?
 I want to downsize. Should I sell now and buy?
In view of the above questions posed by our clients, we have prepared a “down to earth” factual
analysis of the current conditions which will enable most people to make the right decision.
However, there will always be exceptional cases and we encourage people with those cases to
contact either one of us for a one‐on‐one free of cost meeting without any obligation.
Statistics show us that the Real Estate market is booming in the GTA and in other parts of the
country. Buyers are feeling the heat of the situation. Many potential buyers are waiting for the
market to cool down so that they can buy at the lower prices.
The question is: When is this going to happen? Will it happen within the next month, three
months or later?
The answer is: You never know what will happen in the future.
Therefore the decision to buy has to be made based on three factors:
i) The present conditions along with
ii) Keeping in mind earlier experiences as well as
iii) Making a calculated assessment about the future.
The most important question that comes to mind is – other than a licensed and trusted Realtor® ‐
who can best help you to*:
a) Show you concrete examples of the present conditions (sales of homes currently listed)
b) Examples of earlier experiences (sales of homes SOLD)
c) Calculated assessment about the future
Analysis of Our Assessment: We are of the opinion that the market scenario is different in the
GTA for different category of home buyers, i.e. Investors, Speculators and actual Buyers (buying
This article has been prepared by Tino Sequeira, Sales Representative (Direct: 647.207.8466) and Paramjit Singh
Ratra, Sales Representative (Direct: 416.877.8038),
HomeLife Superstars Real Estate Ltd., Brokerage Independently owned and operated. Phone: 905.629.0000

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for their own use). The fact is, you never know when the market can change as the market
responds rapidly to several variables. Given the present scenario, actual home buyers (who are
serious to buy) are enjoying conditions that are favourable to buy. Therefore many people are
buying now! Let us analyse why?
Interest Rates: Interest rates are at an all time low. Therefore buyers can lock in low mortgage
rates for longer period of time, thereby knowing their affordability for the fixed term. It’s your
affordability that can take you through the high or low tides of the Real Estate market. Buyers
buying now will offset the small price decline in future (if and when it happens) by way of saving
on interest rates that are likely to go up in the near future.
New Home Prices: New homes are being sold at higher prices which could be an indication of
how prices are going to be in the future. Prices for all kind of building materials are consistently
moving up; therefore new home prices are going up apart for profit making tendencies of
builders.
Prices Going Higher: Presently prices are gradually moving up. The fact is, once a home is sold on
a street the next home on that street is usually listed at a higher price. If not listed at a higher
price, than usually the next listed home gets multiple offers and is sold at a higher price.
Therefore, if you like the property you go to view with your Realtor®, and that property is listed
at a correct price, you should not hesitate to buy as the next property coming on for sale on that
street is likely to be listed higher.
Market Correction: As per the articles in major newspapers and other media, if and when market
corrections happen in the GTA, it is likely to be small in comparison with other parts of Canada.
Buyers might see prices moving further up and then this kind of small correction might impact
the value of the home by a very small amount. Traditionally, markets have always improved after
corrections. Therefore, someone buying a home to live in the property, might not lose anything,
and in fact gain, along with having the benefit of enjoying the home.
Renting or Buying: Every individual (or family) has different affordability and life style. Therefore,
one should look into their circumstances and life style to analyze what is good for them. In many
cases, buying proves to be the equity builder as there is not much difference in the expenses
associated with renting and the buying. Mortgage constitutes two parts ‐ principal amount and
interest. Over a period of time, interest portion keeps on coming down and principal portion goes
up. Therefore, home owners build equity and thereafter, if the home value increases over a
period of time, the equity (cash value) in the home increases.
Catch the Train: Buying Real Estate has been like catching a train. When you catch this train, it
will take you forward to the next station. Once you buy a home you are on board the “home
This article has been prepared by Tino Sequeira, Sales Representative (Direct: 647.207.8466) and Paramjit Singh
Ratra, Sales Representative (Direct: 416.877.8038),
HomeLife Superstars Real Estate Ltd., Brokerage Independently owned and operated. Phone: 905.629.0000

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buyers train” with others. Therefore, changes in home market prices in the near future, does not
impact much for the next home when someone wants to downsize or upsize later.
Hiring a Realtor®: There are many advantages to authorizing a licensed Realtor® to assist you to
find your dream home and purchase it at the right price. One of the many benefits related to this
article (listed above*) is providing buyers with good comparables, thereby helping buyers to
make an informed decision about the market value of their purchase. And buyers do not even
have to pay a Realtor® with whom they have authorized to provide valuable information. One
should hire a Realtor® and ask them about the advantages of hiring them and the services they
will receive for authorizing them to find their dream home.
(This article is not intended to sever any contracts in place or to form any opinion for Home
Buyers or Sellers. They are advised to do their own research)
This article has been prepared by Tino Sequeira, Sales Representative (Direct: 647.207.8466) and Paramjit Singh
Ratra, Sales Representative (Direct: 416.877.8038),
HomeLife Superstars Real Estate Ltd., Brokerage Independently owned and operated. Phone: 905.629.0000