Since the Bank of Canada (BoC) began raising interest rates in early 2022, the once-booming seller's market has cooled down, turning into a buyer's market. Home prices have softened, and many sellers are struggling to achieve their target prices in this slow market.
Deciding whether to sell your current home before buying a new one, or vice versa, is a significant dilemma for many homeowners. Each option has its merits and drawbacks, and the best choice often depends on individual circumstances, market conditions, and financial readiness.
Executors may be tempted to list the property before receiving probate, especially if there are financial pressures or a favorable market. If you choose to do this, it is crucial to disclose in the listing that the closing is contingent on the probate process.
In Markham, where the quality of life, top-rated schools, and convenient amenities make it a sought-after location, the rent-versus-buy decision becomes even more nuanced.
