 Now is the best time for first time buyers to jump into the market. The first time buyer's market in Toronto, Mississauga and the GTA is hopping! Whether you're considering the purchase of a home or condo, properties geared towards first time buyer's are selling quickly and at times in multiple offer situations! Though this is occurring in some areas (Mississauga, parts of west Toronto and East York, for example), the sold prices are not going through the roof. If a first time buyer property is selling with multiple offers, the sold prices have generally been full price and not more than $1,500.00 over asking. Also, these homes are still being sold with finance and home inspection conditions. First timers are taking advantage of all the first time buyer programs available to them. For example:
- Using up to $20,000.00 in RRSP's for your down payment
- 5% down payment
- Ontario & City of Toronto Land Transfer Tax rebates
- A conventional mortgage is now available with a 20% down payment instead of 25%
- low, low interest rates
- Up to 35 year mortgage amortization periods
- Government of Canada tax credits for home improvements
- Well priced properties
You know now is the time to buy. If first time buyer demand continues this strong, prices are more than likely going to start creeping up. Complete the form below to receive first time buyer listings. |
|