What are Buyers looking for in Toronto Real Estate?
The Canadian Real Estate Association’s (CREA) most important asset is Canada’s largest Real Estate search portal: Realtor.ca so when they dig into the most common key words people are searching for…we pay attention.
As house prices approach a million dollars for a fully renovated option in an urban community Buyers are expecting parking and are unwilling to compromise on this specific property feature in our experience parking is king and is no surprise that it’s the number one searched item on Realtor.ca (on our website too).
In-Law Suite & Finished Basement
Items two and three are even less surprising. People are searching for properties that can give them income right away to help with their new mortgage payments. Fact: properties with income potential attract more offers than those without. (hint: buy a property and build in an income suite to massively boost the value of your home…it’s not as expensive as you think).
Everyone searching for an apartment starts their search with dreams of Douglas Fir beams, exposed brick walls and maybe even an original freight elevator but these spaces cost an average of $100/f² more than the basic condo apartment so budget usually gets in the way. If you can stretch a little to get your self into that killer loft, you’ll have a much easier time selling down the road.
This has two target Buyers: The Builder and the end user who can’t find an existing property they’re satisfied with and want to build their own. The bungalow has been a hot commodity for a decade now and they’re mostly being sold to builders but there are a few that are selling to older downsizers not wanting to spend their golden years in an apartment but their living space all on one level.
The best way to give Buyers what they want is to know what they’re looking for so if you have an asset with the above you will be getting the highest possible price right now. Contact us, comment below, or use our live chat to dig deeper into this.