Essential Questions Every Home Buyer Needs to Ask

This episode explores the most common questions buyers and sellers have about the Canadian real estate market. Against the backdrop of recent market volatility, including low then rapidly rising interest rates, a global pandemic, and inflation, the hosts address the anxieties of both buyers and sellers. More significantly, the discussion tackles the initial steps in purchasing a home, focusing on securing financing and finding a real estate agent, and what to do when an offer is rejected. For instance, the hosts detail the importance of understanding closing costs, including legal fees, land transfer tax, and property adjustments. As the discussion pivots to market dynamics, the hosts differentiate between buyer's and seller's markets, using metrics like the sales-to-new-listings ratio and months of inventory. Finally, the episode delves into financing options, the pros and cons of buying versus renting, and the crucial role of home inspections in identifying potential issues. What this means for prospective homebuyers and sellers is a clearer understanding of the process and the importance of seeking professional advice from real estate agents and mortgage brokers.