More And More Buyers Regret Their Decision (Toronto Real Estate Market Update)
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- Опубліковано 24 чер 2024
- BOOK A CALL WITH SANTO: calendly.com/teamsessa/phone
In this episode we take a look at the current Toronto Real Estate Market specifically the detached home prices and market trends for week ending June 19, 2024. We also discuss how many people want to be in Toronto but often don't like what their money buys them here. The decision to move away to a suburb can seem like a no-brainer but often comes with issues leaving more and more buyers wishing they just saved more and bought closer.
This video will focus specifically on Toronto but be sure to SUBSCRIBE for more reports on other areas!
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Santo Sessa & Daniel Sessa
Re/Max Premier
(647)560-7778
santo@teamsessa.ca
*This video, nor any of the other videos on the Team Sessa Real Estate UA-cam channel, does not constitute legal or financial advice. This is strictly intended for educational and entertainment purposes only.
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@dilara4130
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Why regret it? If you can't afford the lifestyle in the city you want to live in, what's the point? It is better to be financially free and afford to live than be strapped to your home and eat kraft dinner!!
Toronto is a 3 star hotel that charges 5 Star prices... don't buy
I drove to afford from Toronto, but I hit a wall in Sarnia at the US border, now I need a US Visa to keep driving 😂
I stopped and stayed in Sarnia. 🏠
I really, really miss the GTA traffic the most.
Did you try Syria?
@@chandrakanthreddy812 Syria no, but Brazil is in the cards
Brazil sounds great
Born and raised in Toronto. I now live in Mississauga and love it. There is nothing I need in Toronto. So glad I moved away. Plus, it’s just a 20 minute commute into Toronto for me by car. But I have no desire to go into Toronto. So much in Mississauga. And a lot less crime as well. ( Except for stolen cars)
Excellent topic that is often overlooked.
I lived my whole life in Toronto and I've always wanted to move out, beside a river or lake. Now that I'm retired, my wife and I have looked at every aspect about living out there. Far too many negatives vs positives, due to health issues. I've experienced the country living, and invested in two vacant treed lots, that now I'm trying to sell. There's so much more to discuss, which would take pages to jot all of them down. People please take your time with this type of decision and many thanks to Santo for bringing up this topic.
Thanks for the comment Walter.
The problems is that 30 percent of homes are owned by investors, and the fact that more Canadians see their house as their primary investment for retirement than any other investment tool. In the US, most people buy or create businesses to generate wealth while in Canada, most Canadians buy property to generate wealth. Unless you can get Canadians to change their mindset regarding how they build wealth, we will continue to have problems with the housing market.
Capital gain tax on primary residence will fix that mentality
In the US, most people see their homes as their primary retirement investment just like Canada. Same mindset.
@alaalrashaeideh1154 you know that's next if we allow Trudeau another term.
@@glengarbera7367 it should be with or without him ,,,, amount of money gained from real estate is insane and make imbalance,, real estate is not productive unless it’s developing real estate not the reseal market!!!
US is nomore a role model now.Go and see China, how dramatically it has changed the life of its people. As per every field of economy, China is running fast. Look at its modern bullet train network the longest in the world with very modest fares and high standard.
These people are going to be feeling the pain soon, a lot of individuals won’t be able to afford once interest rates renew.
There will be an influx of sellers and not enough rental inventory or houses for sale that they can afford
im driving and it's mexico now.
Lol
Nayarit, MX pad for myself. 🎉
@@JJTMStudio Im looking in CDMX now
We used to live in our condo in downtown Toronto up until we had our first child, and took a look around us and noticed the "substances" deals at night at the local corner store. And even though we worked right on University Ave, we made the decision to move to Oakville 15 years ago. Best decision we made and never regretted it. Yes the daily commute to work was not very enjoyable, but the overall quality of life improved tremendously. Toronto has become unbearably congested, with a very fast pace of life, and is super expensive, and not as safe as it once was. We are only born once, we are not in a video game with unlimited number of lives, and it would be disappointing and wasteful if we were to spend that one life, within four walls 150 feet up in the air.
Oakville is the best city in Canada
Happy you are doing well, I moved out of Toronto but commute weekly. Don't miss it at all. I come when I need things but don't need to live here. I love Toronto, but once you leave you realize people in other suburbs are alot happier lol
I will always take a bigger house over "city living"
There is a lot of difference between Innisfil and North whitby or oshawa. Small nuances make these two are incomparable. E.g there is go train on lakeshore east runs almost every hour every day of the week early morning to late night. 1 hour to downtown and enjoy all that downtown has to offer. Innisfil.... no train. There are other major differences. So suggestion is to consider these differences when comparing things.... you have a lot of influence and it comes with a heavy responsibility
@sajidrizvi1509 thanks for your comment. The point is not to say that one city is better than another. Those smaller towns and cities all have pros and cons. The point is that we speak to people who regret moving to those places because they thought solely about the house they could get without considering how drastically their lifestyle would change.
Impossible, real estate only goes up forever! ... right???....right???!!😂😂😢😢
Not really a question but something to think about. I have a colleague who works in Markham but recently bought a house out in Innisfil. What used to be an hour long car ride to work is now an unplanned disaster when she got into a car accident. The insurance company only gave a rental car for a short period and since her car was leased, she basically got nothing back after the car got written off. She's not in a position to buy a new car with their current mortgage and now has to get dropped off by her husband in his vehicle that is basically held together with zip ties at this point. Could she have predicted this to happen? No. Is it her fault for losing the car? No. But it's another reason why I'm confused why people chase this dream of home ownership and end up living such a miserable life.
The expectations of how we live do not measure up to what is affordable. Toronto is unaffordable for most …… going to shows , when a concert costs $1k for a night out, or rent for a 2/3 bedroom house is $3000 plus a month ………. people’s wants are over the top …….. in my profession most of my co workers who work in Toronto can not afford to live in Toronto so they drive a distance to live more comfortably …. life is an adjustment and families should understand what has to be done. People are now curbing their spending or as you have talked in previous episodes the level of debt to keep up with the jones’ is daunting. a $700 K mortgage is not affordable for most ……….
This video really highlighted an aspect of home buying that's often overlooked-choosing the right location. It's so crucial to consider not just the house itself, but how it fits into your daily life and community.
It's not overlooked, nobody in their right mind said "oh great, I'm finally moving to Markdale, I can't wait for all the opportunity it affords me and my family."
Location, location, location.
@@donm2067 I meant as a general rule of thumb, choosing the right location is important. Not Markdale specifically.
We love Courtice. Great community and value.
where’s that. never heard of it
I know someone who moved way out into the countryside outside Ottawa for the lifestyle: big house, riverside, big property. Downside is there are almost no services, they need two cars, one has to drive to the train station in order to get to work in downtown Ottawa so that's an hour and a half each way. I don't see how they can do it as they age.
If moving outside of Toronto is a problem, just think of the people moving to Calgary. I always think of people moving away from their job, family, friends, their familiar haunts, just to have a bigger house. It might be a right move if you just graduated, but for the others, I wonder.
They will regret for sure, facebook group called Ontario to AB where people complain how far they’re from everyone.
IDK. I like visiting my sister that moved to Stouffville because it is a way of having a nice day trip to the country.
One must weigh all the pros and cons of such a decision. Sometimes, it makes more sense to rent in a good area. But if you buy in remote areas, the most important criteria is your work arrangements. Daily long commute to work is a poison to your life. Never underestimate that.
My sister finally move back to the city and have to pay double the cost what she sold her house for after 4 yours
Folks, i spend a lot of time in the BC interior (Kelowna, vernon , penticton, and Kamloops and will tell you it's harder for me to come home to Toronto every time. If you're a skilled tradesman or contractor, the Okanagan is the place to be.
Folks inflation index went up again 😅
This helps explain why there are such large homes being built in the middle of nowhere. See Dundalk Ontario
Lately I've been hearing some positive things about Dundalk. I might actually visit and see what all the hype is about for myself.
Please add Brampton Mississauga data too 😄 Great work 👍🏼
6.1 months of inventory for condos! Yikes!!
When 12 months of inventory hit, you can have it for free. 😂
Crazy to buy now... prices headed south
@bpd9660 until they don't, the rich will scoop up thr sale priced condos.
@@raczyk I would wait. The Canadian economy is tanking under Trudeau and Toronto real estate will follow... dont buy..
@@bpd9660Keep on waiting...you will get it for free!! Also like most people that work in the city....enjoy spending your life on the road!
3 stores in far off towns call it a village, sale are down because your life is now Netflix
Buying a house is a investment, over paying is not investment
That's the part a lot of people don't understand
Shoutout to Georgetown!❤️💕
Learn to live in a city other than Toronto. Too many stolen cars anyways
Time to start making new family and friends. Screw those friends make new ones - if my friends dont like my 19 year old Escape. I find new FRIENDS
True. There's nothing wrong with making a few new friends.
You can still keep in touch with family these days on fb, Skype, WhatsApp,etc, although it's from a distance.
Please, stay in Toronto. Please.
Life is not just obout house.
Just sold one semi, another single for sale now and just bought a condo for an investor. Very mixed market today. But all my clients very happy. Buyers and Sellers. Very informed about their decision. This is key, as always.
Whoever listened to a realtor regret his decision period.
Alliston, where dreams go to die.
No its not centered in Toronto. I think you are delusional to think that Santo. I don't get why you think everyone is working 9-5 jobs. Things have changed and why would anyone pay for overpriced RE when they get more sq footage/dollar living in GTA/Outside GTA vs Toronto. Also especially with the current mayor introducing new taxes and crumbling infrastructure people will start moving out in numbers.
I’m delusional? I help just as many buyers who want to sell in the suburbs and move to Toronto as I do who want to leave TO.
Many that leave TO it’s not because of choice, but affordability. And many that come back are prepared to step down in housing because of affordability.
I’m not delusional.
If your happiness depends on proximity to family and friends you have much bigger problems.
I have no family or friends.
Regret? Are you sure about it Santos? I live in a new sub division now in Barrie and majority of them are moving up from all over GTA, either buyers or renters . They all seem very happy for a new life. I regretted not to make a move out of GTA earlier to buy a waterfront property here and it used to be a way cheaper. It’s out of reach now.
Not everyone wants to live in Toronto.
Infact I know more wanting to leave do to crime
This is why you don't buy a home based on WHERE YOUR WORK IS
You buy a home where you live your life - family, friends, grocery, place of worship, etc.
Drive until you qualify
😂your a joke I sold my place in guelph and got a place in sarnia, new car , money in the pocket. It's just time when sarina price pops. Lol 6 or 7 years. Invest now fsm
I’m a joke? Relax buddy.
I don’t think you get the concept of the word ‘some’. As in ‘some’, not all, people that move out of TO regret it and want to come back. SOME, not everyone, and I’m speaking from personally helping people buy in TO.
So happy Sarnia and whichever town you go to next is working out for you.
Please pronounce Toronto properly :(
I love it
I bought a house to live in
So i don't mind it drop 50% in value
Great video
While all the points you mentioned are great GTA in general has become a 💩 hole
If you wanna raise a family small towns are much better or atleast for the time being
Smells like curry and samosa everywhere in the GTA 🤮
Smells like that in Markdale too