Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker/Owner
Trinity Real Estate Consultants
647-697-6743
matthew@searchhomesingta.com
If you plan to buy a house, you may have heard some people say it is best to let the market cool down. It is the same advice repeated yearly in the last few years. However, the average cost of houses in the Greater Toronto Area continued increasing, and much more so during the pandemic. Is buying a home today better than waiting for the housing market to slow down? The trend indicates you should before it becomes much more expensive in the foreseeable future.
The Cost of Buying a House
The first thing that comes to mind when thinking about buying a house is how much it costs. You may have a preferred price range, but is it genuinely affordable?
Housing Affordability
According to the National Bank of Canada, the average cost of non-condo houses in Toronto is $1,039,438. Your annual household income to afford this price level should be . ...