This year has been a crazy one when it comes to the real estate market. It started off as a good year then it was going towards a downfall but now it is starting to get back up.
With so many ups and downs, I wanted to write about my insight as a homebuyer in Canada in 2020.
Here’s where you will be able to read what I have to say about what was it like buying a home this year in Canada regarding everything that was happening and is still happening.
So, if you are interested in finding out Canadian homebuyers’ insights this year, definitely keep on reading.
Why was buying a new home necessary for me this year?
A lot of people might be wondering why buying a home this year was necessary for me even though so many things have happened that could’ve stopped me from doing so.
In fact, I wasn’t even planning on buying a home until the coronavirus pandemic started happening. What made me decide to make such a huge investment during such an unstable year?
Well, living in the city center this year hasn’t really been the best experience. Always wearing a mask is easy but keeping a distance in the city has never been a successful task.
This made living in the city center hard and unsafe. This made me start thinking of ways to protect myself and my family which is how I figured out that moving to more suburban areas is what we need to be doing.
And in order to do that, we needed a home. Therefore, buying one was what we did.
Where should you buy a home in Canada this year?
Another one of my homebuyers’ insight comes from searching for a town where I would buy a home. Canadian towns are more than amazing. They all look put together and are very safe.
This made making the decision very hard for me. You can choose between towns that are close to bigger cities such as Toronto, Quebec, Vancouver, Ottawa, and Calgary and towns that are more isolated.
Whichever option of the two you choose you won’t regret moving there.
Here are just some of the towns that you should consider moving to:
- Thunder Bay
- Niagara Falls
To by an apartment or to buy a house?
The main question is whether to buy an apartment or a house. Living in each has its pros and cons. Houses are generally more expensive but it is because they come with a yard and they are bigger than apartments.
On the other hand, bigger apartments cost a lot of money and they don’t come with a yard. But maintaining an apartment is much easier and cheaper than maintaining a house. This is why plenty of people opt for apartments rather than houses.
But this year the situation has been different. Due to not being able to go much outside, people have started buying houses.
This made finding the perfect house in the perfect location with a god price a very hard task. It isn’t impossible but it can take weeks. If thinking about renting a home, definitely make sure you read more about it.
How to search for a home in Canada?
Using the internet seems like the fastest way to find a home as a Canadian homebuyer. And it is fast but it is much better to hire a real estate agent.
Basically, all you have to do is figure out your needs, wants, and budget. This is the information you provide your real estate agent with and he then proceeds to find you the perfect home.
This will relieve a lot of stress off your back as you will have somebody else finding you the perfect home. And he will most likely find one for you very shortly.
Is moving during the pandemic possible?
Moving during the pandemic definitely is possible. Professional moving companies such as Professional Movers Ottawa take all the necessary measures to keep you and their team of movers healthy.
Wearing masks is necessary. Trucks are regularly cleaned and disinfected which makes moving even safer. The only downside is that moves take longer to finish as there aren’t a lot of people working on a move.
But luckily there are various options for you to choose from when it comes to moving services. If you just need your furniture moved, you can hire furniture moving services. If you have special items such as a billiard table or a piano, you can have specialized movers move these for you without doing any damage to your belongings and making everything much easier for you.
Home prices in 2020 in Canada
Now that you know more about moving and where to search for a new home, you are probably interested in finding out the prices of the homes. And I can tell you more about this too.
Home prices have behaved differently in every part of Canada if my homebuyers’ insights are correct.
Places like Charlottetown, Halifax, Durham, Thunder Bay, Muskoka, and Sudbury have experienced an increase of 9% in home prices. Prices in Toronto, Hamilton, Brampton, London, Vancouver, and Niagara have also increased but just by 4%.
But there are also cities that either haven’t had any increases this year such as Ottawa, Waterloo, Kitchener, Calgary, and many others. And this is exactly where a lot of people have bought homes.
Whereas in the places where home prices have risen, people were mostly selling their homes. And people were mostly purchasing houses.