Knowledge is power when looking for real estate

The future of real estate is here and a new wave of software innovation is transforming the real estate industry every day.

In today’s world, the variety of information sources is excessive but at times superfluous, mostly due to the fact that the information provided is not always correct.

It goes without saying that Canada’s, and especially the GTA’s real estate market has exponentially gained popularity over the last decade, and with that, grew the various real estate websites, newspapers, blogs, etc.

While it is extremely beneficial to end users as well as investors to have access to such vast information, it is important to understand where it is coming from.

Access to information – especially from reputable, trustworthy sources – is a critical part of any investors or end-user’s toolkit and is required to make informed, strategic decisions. Moreover, research is quite time consuming, hence the fees buyers pay to real estate representatives to do all the heavy lifting.

Trustworthy sources do not only deliver well-researched information, but they also save a tremendous amount of time. Websites and magazines such as New Home + Condo Guide qualify their writers and ensure all articles are written by industry professionals, thus helping buyers make educated decisions when it comes to property ownership.

Although seasoned real-estate investors are able to tell if a property is worth their time and money just by touring it, it is still crucial to perform comprehensive research when buying real estate.

It is quite simple to get the big picture of the market by doing some web surfing, however, to get a more thorough understanding of concepts such as mortgage rates, insurance, stress tests, resale trends, and learn what the hot areas are, it is vital to dig a little deeper. This is where information sources like TREB (Toronto Real Estate Board), CMHC (Canada Mortgage and Housing Corporation), RBC’s housing reports, Realtor.ca, and the Housepriceindex.ca come into play.

TREB provides online information for comprehensive coverage of real estate listings and services in the GTA, market year reviews, condo market reports and more. Moreover, it shows the general state of the market by producing monthly reports of the resales and average sold prices in the different municipalities within the GTA.

CMHC provides the latest trends, research, data, and insights on housing in Canada, tools and information to help buy property, and mortgage calculators to compare rates and pre-calculate payments.

RBC’s housing reports are quarterly reports pinpointing cross-country trends in housing affordability in provincial and major metropolitan housing markets.

Realtor.ca is one of the most popular real estate websites in Canada. It is owned and operated by the Canadian Real Estate Association (CREA) and provides up-to-date and reliable information that makes finding a dream home or the perfect investment opportunity easy. Realtor.ca is popular amongst sellers, buyers, and even renters.

The House Price Index allows for the international community, consumers, economists, and industry professionals to have access to the latest House Price Index.

The previously mentioned sources are invaluable, and in my opinion, are particularly reputable, providing excellent analysis of national and provincial trends in the real estate market of new development and resale properties in major metropolitan areas. Once well informed, making these big, sometimes life-changing decisions, becomes an enjoyable process. As some of the most powerful people in the world say, including Siemens CEO Eric Spiegel, “Knowledge becomes money.”

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