1. Choose the best rent-to-own terms for your situation.
2. Consult with a Real Estate attorney.
3. Review the contract carefully.
4. Double-check the fine print.
5. Schedule a home inspection.
6. Research the seller and verify their contract information and the address of the listed property.
Supply still a longer-term concern
There are several programs first-time buyers in Ontario can use if they're in need of financial assistance. Being considered a first-time home buyer in Ontario means you have never owned a home anywhere in the world.
The refund maxes out at $4k for homes with a value higher than $368k.
Experts are flagging that there could be a spotlight on condo properties in 2023. The focus on condos is mainly because they're more affordable.
Construction costs will start softening in mid-2023 and land costs will stabilize or dip. This should help open doors for more retail development. New space availability in 2023 will likely revolve around non-anchored shopping centers. Consumers will lean into the resale sector from the influences of inflation and sustainability benefits.
Experts believe the supply chain issues will begin to moderate in 2023, although the supply-demand imbalance is here to stay.
Wishing everyone a very Happy, healthy and safe New Year!
