If you’re curious how the Toronto real estate Spring Market is faring in 2023 – now in full swing – all you need to do is bookmark the Urbaneer blog. Urbaneer has the housing news you need and the homeownership content you crave! Visit our Listings Page to take a peek at our gorgeous properties currently for sale, then slide over to our blog where we discuss the many facets of house & home, as well as Toronto culture, design, and architecture – hopefully with a few laughs along the way!
Here is what you’ll find in our May 2023 E-Newsletter:
This month’s installment of Dear Urbaneer is entitled, ‘Dear Urbaneer: Who Is Buying Real Estate In 2023?‘. In this edition, a dwell hunter is uncertain about buying a home in our current economic climate and is wondering if others are in the same boat. A reader writes: “Buying a house is my goal. However, I keep reading all these headlines about inflation being out of control, Canadians having sky-high household debt, and people with variable-rate mortgages (and even fixed mortgages that will be coming up for renewal over the next 24 months) finding themselves spread financially thin. It makes me a bit nervous! I’m wondering whether there are a lot of buyers like me who are taking a pause from the market to reassess. And for those who are buying, what are their motivations and goals?” Read on for Steve’s outline of which segments are currently buying in Toronto and why!
The Urbaneer Team posts weekly blogs that share our love of real estate and celebrate Toronto! Below are three of our most well-read posts this past month:
The most popular post in May was, ‘Will Extending Mortgage Amortizations Delay, Or Save, Toronto’s Real Estate Market From Further Price Declines?‘. In this one, I discuss variable mortgage rates, which, until last year, had been in the 2 to 3.25% range since 2009. But in March 2022, the Bank of Canada began implementing 8 interest rate hikes totalling 425 basis points over an 11-month period. On the surface, this solution seems like a good option for financially-strapped homeowners; the immediate reprieve buys the property owner more time to sort out their financial affairs. However, extending one’s amortization does come at a cost – a substantial one in fact – because it requires homeowners to pay significantly more interest costs over the extended period. And how long is too long for an extension? Steve lays out the complications and concerns here!
Another popular piece was ‘How To Navigate Renting Your Toronto Investment Property‘. With fewer and fewer properties coming to market for sale – and bidding wars once again running rampant for the few properties that do – many Torontonians are reconciling that they may have to rent for the foreseeable future. Thus, demand for rental properties is continuing to rise and rents are trending upwards. Landlords are readying their investment properties to show at their best this Spring – and taking the time to find quality tenants. Here’s our advice on how to set yourself up with AAA+ renters.
We also had a great response to our blog ‘The Drake Hotel Is A Staple Of Toronto’s West Queen West Neighbourhood‘. The Drake Hotel is arguably Toronto’s most famous boutique hotel! Located at 1150 Queen Street West, on the corner of Beaconsfield and Queen, it has become an ‘oh-I-know-where-I-am-now!’ landmark for the Queen West community – and the entire city! In this piece, we take a peek at its past, and how it fits into the fabric of Toronto. Read on!
It’s hard to imagine the City’s west end without it. Truly!
And – for lovers of unique urban spaces – don’t miss our sensational Toronto real estate listed for sale or lease on our site for your consideration!
Browse the May 2023 E-Newsletter here!
We LOVE Toronto real estate!
Steven & The Urbaneer Team
Bosley Real Estate Ltd., Brokerage • (416) 322-8000
http://www.urbaneer.com • email@example.com
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*Love Canadian Housing? Check out Steve’s University Student Mentorship site called Canadian Real Estate Housing and Home which focuses on architecture, landscape, design, products and real estate in Canada.