Purchase Vaughan Real Estate for Sale at the Best Price

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Purchase Vaughan Real Estate For Sale At The Best
Price

• As spring approaches, inventory of Vaughan real
  estate for sale is increasing. Prices for
  detached homes have begun to rise in many areas,
  while others are still going through an
  adjustment phase. These adjustments reflect the
  changes in the market since mid-2017. This was
  the point when two pieces of government
  legislation hit.

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Greater Toronto Area (GTA)

• One was the non-residents tax and the other -
  later event, was the Stress Test for mortgages.
  The latter was introduced to help prevent
  consumers from taking on more debt then they
  could handle, in case of interest rates hikes in
  the near future. The former was placed to help
  cool what was perceived as an overheated housing
  market, especially in Greater Toronto Area (GTA)

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Homes Range From New Builds

• In Vaughan, the closest northern suburb to the
  GTA, homes range from new builds, to townhome, to
  condos and everything in between. There are areas
  both east and west of the main north-south
  freeway - highway 400.

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Remove The Foreign Buyer Tax AKA

• Many factors will influence the real estate
  markets in the near future. With a provincial
  election looming and no clear front runner, the
  results could well influence future pricing and
  market trends. If a candidate that is running,
  who shall remain nameless, has promised to remove
  the foreign buyer tax AKA the non-residents
  buyers tax.

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All Home Buyers To Qualify At Two Percentage
Points

• These rules require all home buyers to qualify at
  two percentage points about the key lending rate
  on a 5 year fixed mortgage. Currently those rates
  range from 2.99 to 3.39 percent. Meaning the
  qualifying rates are 4.99 to 5.39. These could be
  even higher based on the individual.

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Home Market And Many Times Out Of The Current
Condo Market

• A?ord for a new home purchase is at least 100K
  less then previously. For first time buyers in
  the Greater Toronto Area (GTA) this lower
  qualifying price point literally has priced first
  time home buyers out of the detached home market
  and many times out of the current condo market.
•  

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Prices Trends In Your Area Or Other Real Estate

• For more information on market trends, prices
  trends in your area or other real estate
  questions feel free to contact me at 647-898-7490
  or via email at timothy_at_swiftsellstoronto.ca

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• If you want to find out more about Summerhill
  homes for sale, feel free to contact me at
  647-898-7490 or via email at timothy_at_swiftsellstor
  onto.ca. I look forward to working with you to
  find your perfect family home.