If you're considering buying real estate in this market, it's important to be informed, especially when it comes to the lesser-known facts that can significantly impact your experience and long-term investment. Whether you're a first-time buyer or exploring your next move, this guide uncovers 90 insights that most buyers simply don’t know but absolutely should.
Why These 90 Things Matter Right Now
In a market where interest rates, inventory, and buyer competition are constantly shifting, your success depends on more than just browsing listings. Understanding the intricacies of buying real estate in this market will help you make strategic decisions and avoid costly surprises.
90 Little-Known Insights About Buying Real Estate in This Market
Mortgage and Financing Realities
-
Pre-approvals aren’t guaranteed
-
Mortgage rates can rise before closing
-
Credit score affects more than your approval, it can also impact insurance
-
Some lenders don’t count rental income in qualification
-
Stress test requirements vary between lenders
-
Your job history plays a major role in approval
-
Debt ratios matter more than income level
-
Bank mortgages aren’t always the best, brokers often offer better terms
-
Vacation and investment properties follow different financing rules
-
Jumbo mortgages are required for luxury homes
-
Pre-approvals expire, so you may need to reapply if your search takes time
Legal, Taxes and Title Considerations
-
Not all homes have clean title, and liens can delay closing
-
Property taxes may increase post-sale
-
Zoning bylaws limit what you can do with your property
-
Flood insurance may be mandatory in some areas
-
First-time buyer incentives differ by province and municipality
-
Legal co-ownership agreements are crucial if buying with friends or family
-
A good real estate lawyer can save you thousands
-
Special assessments may surprise condo buyers
-
Title insurance protects against hidden ownership risks
-
Status certificates are often at the buyer’s cost in condo transactions
Market Misconceptions
-
You can negotiate in a seller’s market, especially on terms
-
Micro-markets behave differently than overall city or regional trends
-
The cheapest home in a great area might be a poor investment
-
Detached homes generally appreciate faster than condos
-
Some homes never hit MLS and are sold off-market
-
“As-is” doesn’t always mean disaster, just firm seller conditions
-
New homes aren’t always cheaper, especially after fees and upgrades
-
Neighbourhood development plans impact long-term property value
-
Past sale history is public and can inform your offer strategy
-
The offer price is just the beginning of your total investment
Inspection, Condition and Repairs
-
Not all home inspections are equal, and some miss major issues
-
Pre-construction homes still require inspections
-
Renovation costs are frequently underestimated
-
New homes can still have defects
-
Older homes may need electrical or plumbing upgrades
-
Skipping the final walkthrough can lead to costly surprises
-
Deferred maintenance from previous owners may fall on you
-
Staging can conceal underlying problems, so inspect thoroughly
Condos and New Builds
-
Condo fees can increase suddenly due to underfunded reserves
-
Not all builders include appliances, landscaping, or amenities
-
Condo rules may restrict renovations, pets, or short-term rentals
-
Energy efficiency affects your long-term affordability
-
Some developments have hidden monthly or annual fees
-
You might not get your occupancy on time with a new build
-
Buying pre-construction often comes with GST or HST
Offer Strategy and Negotiation
-
Highest offer doesn’t always win, terms and conditions matter
-
A flexible closing date can strengthen your offer
-
Fewer contingencies can beat a higher price
-
A larger deposit shows serious intent to the seller
-
Knowing the seller’s ideal timeline gives you an advantage
-
Repairs and inclusions are often negotiable
Real Estate Agent Advantages
-
Agents have access to pocket listings that never hit the market
-
A skilled agent provides more than showings, they bring strategy
-
Agents are often aware of local trends before they appear in reports
-
Negotiation expertise can add significant value to your offer
-
Agents can help vet builders, lenders, and home inspectors
Risk Management
-
Homebuyer regret is real, especially when buyers rush decisions
-
Appraisals may come in lower than your offer, affecting financing
-
Some properties are difficult to finance due to condition or history
-
Rising interest rates can change your affordability quickly
-
Delays in closing are more common than most people expect
-
Buying without professional representation may cost more long-term
Value-Add Considerations
-
School zones significantly impact property values
-
Future development nearby can increase or decrease resale value
-
Properties with income potential, like basement units, add flexibility
-
Some lenders offer cashback to cover closing costs
-
Energy-efficient homes reduce long-term ownership costs
Common Myths Debunked
-
Bigger down payments aren’t always better financially
-
New construction does not guarantee fewer problems
-
You don’t need 20 percent down to buy smart
-
Buying real estate in this market still outperforms renting long-term
-
Opportunities still exist, even in competitive market conditions
Final Thoughts: Buying Real Estate in This Market Requires Strategy
Today’s market isn’t the same as it was a year ago or even six months ago. Buying real estate in this market means understanding how mortgage changes, local economics, and government policy intersect to influence your purchase. Whether you're upsizing, buying your first home, or exploring income-generating properties, knowledge is your most powerful tool.
Thinking about buying real estate in this market?
Let’s talk strategy. We’ll help you navigate the noise, uncover opportunities, and make a confident, informed purchase.
Book a Consultation or reach out directly. We’d love to help you make your next move with clarity and confidence.
