Mitch Taylor
Keri Brownrigg
Jackson Miller
REALTOR®
REALTOR®
REALTOR®
226 314 1600
www.trilliumwest.com
REGISTRATION FOR OUR 2021 PROGRAMS IS NOW OPEN! FIRST TIME HOMEBUYER $
FREEHOLD HOME OR CONDO OWNER? $
Getting burnt out in this wildly active market? Let’s make 2021 your year! No more frustrations, contemplating, another year on the sidelines or just flat out giving up. If you are committed to achieving the dream of homeownership, register today. Learn how we assist our Investor clients in this market, and absorb all the different strategies you can use to buy real estate as a First Time Homebuyer.
STOP! Put down the for sale sign and listen up! Looking to sell your house or condo this year? Do you want to to downsize, upsize, or just want a change of living space? What if you were told you may not need to sell your house or condo in order to make that transition happen? Want to know more about how to buy or rent a second property while keeping your existing one? Register through the applicable website below and The Westside Partners of TrilliumWest will show you the way to turning your next move into a sustainable wealth building transition you may never forget!
Register at: Westside100.ca
Scan QR Code to Register.
Freehold Owner: HoldYourHome.ca Condo Owner: KeepYourCondo.ca
LOCKED IN THAT LOW RATE REFINANCE?
Now, what are you going to do with all that equity you just took out? Fancy new pair of shoes? Shiny new set of wheels? While those “things” all theoretically sound nice and would be a privilege to own, do they help you financially? Instead, what about reinvesting that equity into another real estate asset? Let’s chat about what some real estate investors are doing with their own equity in today’s market.
CONDOS, ELEVATORS, AND TENANTS OH-MY! “Okay, alright, quiet down here folks, enough of this freehold chatter. Us condos are back in town and we mean business!” If a condo unit was a real person, that’s what I would imagine they would be saying right about now. For over a year now, the spotlight of our residential real estate market has been freehold, freehold, and more freehold detached homes, with townhomes right there in the sidecar. Comparing the general February 2020 versus 2021 market statistics in Waterloo Region, detached and townhome properties appreciated in value by almost double the rate than our poor little condo market. So what? No one wants to live in a condo right? Everyone is working from home now correct? As Warren Buffet would say, be “fearful when others are greedy, and greedy when others are fearful.” With the price gap continually widening between freehold homes and condo units, history states that our condo friends are posed to make a roaring comeback. Why?
Affordability & First Time Homebuyers
As the freehold market slides out of grasp for more aspiring purchasers on a daily basis, expectations will become adjusted, and what is the next
step down the affordability ladder if detached homes and towns are out of reach? CONDOS! When you factor this in with once we are all vaccinated and grow a third arm, there is zero doubt you will start to see a shift back to the Live/Work/Play urban lifestyle that was so coveted by owners, renters and investors in KW for the last 5 years before covid19.
The cost of a 2x4
The construction and materials cost escalation we’ve seen over the last year has been astonishing. Why do you think several urban condo developers in KW didn’t come to market with new projects in 2020? One small, but terrifying word:
Risk
Developers have to go back to the drawing board, and reprice their construction cost matrix. If an urban condo project in KW was planning to sell in 2020 with an average sale price of $700 per square foot, I would bet all of my bitcoin (all .00000007163 coins) that $700/SF isn’t a real $/SF anymore. If you can buy a decent resale condo unit for $575/ SF down the street from a brand new building launching at $800/SF, that resale condo is starting to sound pretty appealing right about now!
52**The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.**
