OUR ADVICE ON BUYING A HOME IN ETOBICOKE IN 2022

I’m sure you’ve heard how crazy our real estate market is right now. In this market, it’s more important than ever to have a  well-thought-out strategy to secure your future home.

Etobicoke’s current market conditions

• Very low inventory of homes for sale
• Most homes are selling with multiple offers
• Homes are selling very quickly often before they hit MLS
• Prices have increased substantially in the last year

Our advice to buyers

1. Know how much you can afford. Work with a lender that will let you know how much you can afford and pre-approve you for a mortgage. Have your deposit and downpayment ready and available so you can make an offer without financing conditions.
2. Select your desired neighborhood based on what you can afford.  There is no point in searching in an area where the homes will sell above your budget.
3. Hire an agent that specializes in Etobicoke that:
   • Knows the Etobicoke micro-neighborhoods well and can make recommendations on which neighborhood is best suited for you
   • Knows nuances of price points in your preferred neighbourhood so can make recommendations on what to bid to win on a property
   • Has access to off-market listings not on MLS.
   • Available to show you properties with a short notice
   • Have lots of experience winning in multiple offers in Etobicoke
4. Be available to see properties right when they come on the market. In this market, many properties are SOLD before they hit MLS or within a few days of hitting MLS. Waiting a couple of days to preview a property could mean the property is gone. In this market, you need to be committed to seeing properties right when they become available
5. Be comfortable making a decision quickly. Unfortunately, in this market, you don’t have a lot of time to make a decision on a property. That’s why it’s so important to have everything is lined up so you are comfortable moving quickly. (your financing, and your preferred neighborhood)
6. Don’t get discouraged if you’re not successful with your first offer. There will be another property for you.

The Thompsonsells Team has a combined experience of over 30 years buying and selling properties for our clients in Etobicoke.  We’d be happy to help you find your dream home. Reach out here.