What we've learned in 2020 thus far is that work-life balance, relationships and space are of the greatest importance. Nearly everything closed down and some of us were limited by the number of people we could see in our household or in the area, left without access to a gym and suddenly having to work from home.
My Brokerage Office was closed and so was Starbucks and Tim Hortons. How was I going to meet my new clients? Zoom is cool but in person will always be the best way to connect. Overall many of us had to work from home and therefore create a home office.
Is the Detached home "the essential home"?
In the essential home, you've got space for a home office, space for a home gym, a backyard to entertain and practice social distancing. No wonder more and more millennials are migrating to the greater Toronto areas to buy their home. Less worrying about commuting, more opportunity to work from anywhere. With interest rates super low right now if you haven't invested in Real Estate yet this could be your window. The supply of homes was definitely reduced during COVID-19 however, prices were stable. Changes to the interest rates are very encouraging for buyers.
Finally, in terms of renting out your property, the Condominium is still the easiest to manage. The new norm is to buy a condo that you'll rent out and live in a Detached or a semi-detached home while saving up for a vacation home in a hot country. Doesn't that sound amazing?
Comment below and tell me what adjustments you've had to make in 2020.
If you or someone you know is thinking of buying or selling a home and would like a Free Market Evaluation or specific statistics for a region/neighborhood, please call me I will be happy to help and answer any real estate questions.
Your Friend in Real Estate,
Christine Ivy Stephenson | Real Estate Agent
O: 905-695-7888
F: 905-695-0900
C. Ivy & start packing
