You should Buy to Sell in a Buyer’s Market
While the title of this title may sound confusing at first, the meaning is simple: whenever you buy a condo, make sure it is a unit that would be easy to sell again in the future – even in a strong buyer’s market. This is advice I always tell my clients, especially investor clients. May seem like common sense, but it is worth exploring a little further.
Besides a brief 6-month window between fall through spring, the Toronto market has basically been a seller’s market for the better part of the last decade. Anything sells in a seller’s market, and hopefully when it comes time for you to sell you reap the benefits of a strong seller’s market, but what if you sell and the market is slow? What if there are 10 listings for every buyer, instead of the other way around? Make sure you buy smart and buy a condo that will be easy to sell and sell quickly even in a buyer’s market.
Some more tips to consider when thinking about selling in a buyer’s market:
- Always buy a property that a wide range of buyers would be interested in.
- Avoid one-of-a-kind units. Cookie cutter condos are not always a bad thing when it comes to investment!
- Be wary of units with special features like terraces, multiple parking spots, customized kitchens etc. Not all buyers appreciate these features and therefore they will not be willing to pay extra for them.
- When in doubt, buy the smaller of two units. Smaller=Cheaper=More potential buyers
- Go as high as possible. The 25th floor will sell before the 2nd floor in a slow market.
In a hot market like we are in, it is easy to lose sight of the fundamentals of real estate investing. Buyer’s often ‘settle’ for a property that does not meet the above criteria just to get into the market. Don’t settle and always think about what if you had to sell during a buyer’s market.
Questions about buying investment condos in Toronto? Contact me directly or leave a comment here.
Share your comments on our Facebook page.
Online mortgage calculators are helpful in planning for a home purchase. For more information on CENTUM broker negotiated rates, visit Centum.ca for a referral to your nearest broker.
For property in Ontario, GTA, Toronto, please visit me/email me on
Web@ www.vijaygandhi.com, mail@ firstname.lastname@example.org
Thanks for visiting blog; it’s always updated with new info.
WE ARE GOING TO KEEP POSTING NEW ARTICLES RELATED TO VALUE YOUR INVESTMENT SERIES, YOU CAN SUBSCRIBE IN ORDER TO STAY CONNECTED, THANK YOU FOR BEING PART OF NETWORK.
(The comments contained on this site are for information purposes only and do not constitute legal advice.)
If you have any questions/suggestion or require more information, please do not hesitate to contact me and I will be happy to assist you.
Sales Representative- REALTOR®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647. 267. 6338 (Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002 (page me-Have me)
E: email@example.com , firstname.lastname@example.org
W: www.vijaygandhi.com , www.centum.ca/vijay_gandhi
Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!