How to navigate multiple offers

Is the pandemic housing boom slowing down? With the Canadian real estate market recording its first price drop in about two years, there is a growing expectation that the country could be on the cusp of a serious correction. But while it could be some time before sales activity returns to pre-crisis levels, many major urban centres and smaller markets that experienced impressive growth could still endure many of the same characteristics of a bullish housing market. Be it competition resulting in bidding wars, or homes selling over asking price, the lack of housing supply means multiple offers will likely remain a factor in the current market.

So, how do you even navigate this type of real estate market anyway?

How to…

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Buying vacant land

When buying a home in the Canadian real estate market, many commonly assume that the bulk of the cost is for the home, but in reality it, it is the land that the house is built on that is of most value.

The housing market is all about the land since, especially in hyper-dense cities, is ostensibly finite. While Canada is one of the largest countries in the world by land mass, and are are still plenty of development opportunities from coast to coast, it is also one of the most expensive markets on the planet.

But whether you purchase an empty lot in the middle of Toronto or vacant land in the outskirts of Saskatchewan, it is an entirely different process than buying a conventional property.

So, what do you need to…

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