It is no secret that Toronto and the GTA real estate market have heated up. Especially for the freehold resale houses segment. Most homes sell in 1 week. Most buyers compete in the multiple offers arena.
It is not good, bad, right, or wrong. It just is. There are more buyers than sellers and this is the natural result.
What is not a natural result is people feeling under pressure when buying. Choosing to make fast decisions without checking the details of that house first. Many will say fast equals bad decisions. It does not have to be like that.
Doing the research and groundwork is possible. For our team, this is standard practice. For example, a home inspection is one of the most important aspects of this groundwork. Professional home inspectors provide live feedback and a written report with their findings. They will see things you and I don't or can't.
They use thermal imaging and air quality testing. To detect hidden indications of leaks, mould, or even toxins in the air. They tell on the life span of the furnace, the roof
and other major ticket items in a home.
This is why when we serve a family selling a house place we offer a home inspection for our sellers. For 2 main reasons:
1) To know the condition of the house and if there is something important that requires fixing. So it can achieve a better price point.
2) To show the interested buyers what is going on and make the decision process easier for them. So it becomes easier to sell.
When we serve families in buying a house we help them get a home inspection done before making an offer. Or minimum if the sellers have provided an inspection to go through it line by line. So we can ask for clarifications from the seller. Or even call the inspector directly with any questions.
We put hours of research into many other aspects. To ensure any family buying knows as much as possible about the house and its neighborhood.
The point here is that checking a house before buying is possible even in a heated real estate market. It only requires the right strategy, preparation, commitment, and mindset.