Rent now or Buy now
Hi There , to simply answer your Questions , if you Have the Funds for the Deposit it would be Beneficial to Speak to a Mortgage agent to , As it would be better to purchase at this time instead of Paying a Landlords Mortgage. Always available to Talk Max 416.937.5831
My name is Atila, and I specialize in the condo market along the lakeshore in Etobicoke. You posed an excellent question about condos for Q4-25 Iron Man! I agree with the first agent's point that covering someone else's mortgage is typically not a wise financial decision. However, I believe that the advantages of renting currently surpass the benefits of owning a condo in today’s dynamic market. The current resale condo market is struggling, characterized by a buyer's market with over seven months of inventory available. For first-time homebuyers without equity, timing the purchase is crucial, and it may be wise to wait for prices to hit their lowest point, which could still be at least a year away. This year has already seen the cancellation of 18 new condo projects, which will likely affect supply in the future as construction slows down. Consequently, this decline in development is expected to create a shortage of available units in the coming years. If you're looking to move out soon, I recommend starting with a rental now and planning to purchase a resale condo in about 12 to 18 months. I can help you find some appealing rental options on Park Lawn where you can sign a one-year lease. Once you’ve settled in and have a feel for the area, we can begin searching for a condo to buy in the spring of 2026, when there are likely to be more favourable deals available.