Expert homebuying advice from Mike Parker, Vice-President of Sales and Marketing, Georgian Communities
December 14, 2022
Housing supply, rising interest rates, affordability, inflation, the economy, the lingering effects of COVID… there’s a lot on prospective homebuyers’ minds these days, when it comes to things that may impact their purchasing decisions.
To help you understand all the factors to make a better, more informed homebuying decision, our 2022 Builders' Annual sat down with some of the industry’s top builders and developers for expert advice.
Given the various characteristics of today’s housing market, what is your outlook for 2023?
We continue to have an optimistic outlook heading into 2023. Some industry observers anticipate that housing prices will continue to decline and that higher borrowing costs will have an impact on housing activity, but we feel that supply concerns will continue to drive the need for more housing starts. If more housing is not provided, the rental market will be further strained. As a developer and builder, we are continuing to push forward with the launch of new communities in 2023.
What advice would you offer to buyers?
Whether purchasing a resale or new build, do your own research. Do not rely solely on what you are reading in the media, and make decisions that are based on your requirements. Don’t be paralyzed with a short-term fearful outlook if you have long term needs.
How is your company addressing the affordability issue?
We continue to support local, provincial, and national homebuilder associations with their ongoing collaborative efforts to provide industry feedback to various levels of government. We work diligently with local municipalities and agencies to minimize timelines to bring our projects to market, to keep soft costs as low as possible.
What is it about your company that you would like prospective buyers to understand as they go through the homebuying process?
Georgian Communities deliberately establishes unique neighbourhoods that are purposeful and meaningful. Our homeowners are looking for a more enriched lifestyle, and we are committed to delivering on our vision. Passion and drive inspire us to craft unique homes in some of the most beautiful areas of Ontario. From planning and construction to purchasing and decor selections, we work hard to keep things simple, thoughtful and reliable.
About Wayne Karl
Wayne Karl is an award-winning writer and editor with experience in real estate and business. Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. firstname.lastname@example.org