While this strategy comes with its fair share of risk, pooling resources may be the only way for some individuals to even consider entering the market. Two (or more) parties, who would otherwise be unable to obtain financing individually, are combining their funds and splitting costs right down the middle, essentially making this process easier and more affordable.
The idea of commuting becomes more bearable when you consider becoming a homeowner.
Those who are opting to leave the city and head for other parts of Ontario are experiencing signifcantly less competition, more inventory, and lower prices.
Finding a property that has rental potential is key. Whether you rent out the entire space or just a spare room, having a tenant decreases your expenses while increasing capital.
Right off the bat, pre-construction homes are priced lower than a comparable resale property. While your property is under construction, you’re able to save a few bucks and by the time you’ve closed, your property has already increased in value!