Happy upcoming holidays!All property owners can generally be divided into two large groups: those who buy a home for their own use (with the intention that the owner’s family will live there), and those who buy property as an investment (with the expectation that it will be occupied by tenants).
Market fluctuations are less significant if you live in your own home. Whether the purchase price was slightly lower or higher, you still need a place to live. In the end, 20 years from now, you are unlikely to remember the exact price you paid, and with the mortgage paid off (or nearly paid off), you will feel quite secure financially.
If the property was purchased as an investment, a market downturn can, of course, disrupt your plans to some extent. However, in business, it is not always possible to predict everything, and investors must be prepared for situations where a short-term investment gradually becomes… becomes… becomes a long-term one.
Regardless of which type of property owner you are — a homeowner, an investor, or even a future buyer — I would like to wish everyone happy upcoming holidays and a Happy New Year filled with good health, travel, joy, financial success, and, along the way, successful real estate transactions.
Wishing you energy and good luck in bringing even the most unexpected projects to life!
Serge Skyba
Realtor® at Realty 7 Ltd, Brokerage
416-305-6525
serge@agent1.ca
