.png)
We get asked many questions as realtors, but these are among the most common from our first time home buyers!
Q. Can I write multiple offers on different homes at the same time?
The short and sweet answer is no.
I mean, technically you can… but what would happen if you write an offer on 2 different properties at the same time and both get accepted? Well, you are now in binding contracts with 2 properties. So unless you have a lot of extra spare cash, you could be in trouble!
So for this reason, it is best to only put one offer on one property at a time. Once the irrevocable period is over, you are safe to submit another offer on a different home if you wish.
Q. When is the best time to buy?
Honestly, there will never be a perfect time to buy…
Where there are high rates, there are lower prices and less competition.
Where there are lower rates, there are higher prices and buyer competition.
Trying to time the market rarely works out.
You just want to make the move when it's best for you and your family!
Real estate is a long-term investment. Home values in Toronto have doubled every ten years. It is about TIME IN the market, not TIMING the market.
Q. I want a beautiful home, in a great location and I want it a reasonable price... where can I find this?
I mean, don’t we all!!
There are 3 big factors when buying a home people want – Location, good price and Good finishes. Very often you get to pick 2 out of the 3.
For example – if you want location and a turn-key property with amazing interior finishes, then you wont be paying a lower price.
Let’s say you want a good location and a good price, then likely the interior of that property will need updating.
Or if you want a good price and a good interior, then you likely have to sacrifice location.
Just remember that no home has to be your forever home. You want to purchase something that can meet your needs for the next 5-7 years. For me, I would say that location is the most important factor. Interior design of the home can be changed, but location is permanent.