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Investing in real estate is always a huge undertaking (why else would we have so many shows about it?), but buying a home during quarantine? That certainly came with its own list of unique challenges. Here’s what I learned after I purchased my first home during the coronavirus pandemic.
If you find yourself in a position where you NEED to buy right now, know that REALTORS across Ontario are working hard to figure out how to make it happen – but it’s not business as usual for anyone.
To get an idea of how COVID-19 could shape the housing market in the short- and long-term, let’s take a look at a similar scenario that led to slower market conditions. The bottom line is, as long as these health risks are present, it’s widely expected that anyone without an urgent need to buy or sell a home will put their real estate ambitions on hold for the time being.
In June 2018, the City of Toronto started the laneway suite pilot project which allowed the homeowners of eligible lots to build laneway residential units on the same property as the main house, to be rented out or used as a secondary home.
As a first-time home buyer in Toronto, there’s a whole lot to learn. So grab a glass of wine, sit back, and prepare to learn how to buy a house or condo.