Although property owners in the Toronto area may be having trouble selling large homes and luxury condos, the real estate market is still in good shape. Right now, two-bedroom bungalows are in high demand, and homeowners know it. Although bungalows used to be considered a starter home for couples and small families, its appeal has been widening in recent years.
In the present economic climate, many buyers see two-bedroom bungalows as a smart investment. For example, some investors choose to buy them, tear them down and build a larger property on the land. On the other hand, homeowners struggling to pay their bills are considering selling their oversized houses and downsizing to a smaller property. In addition, the typical starter families have continued to seek these types of homes.
Although overall real estate sales are down by around 10% in Toronto, the demand continues to increase for bungalows. In fact, many bungalows in popular neighborhoods have seen multiple offers, often leading to intense bidding wars. Several bungalows have been known to sell for much higher than their market value.
The types of homes that people buy and sell varies with the overall health of the economy. However, people move from one place to the next on a fairly regular basis. No matter what types of properties are in style, it is important for moving companies to be aware of the current market. Buying and selling habits change, but people always need help when it comes time to move. For more information about how we can help you move to your next home, give Rawlinson Moving a call today!
*Image courtesy of Yuri Konovalov