When is the good time to BUY a property in Toronto (East)

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Originally posted by Nick6478

What would be a good time to buy Real Estate in Toronto?
As a First time home buyer?
What is Mortgage rate trend going to be in next 5 years?
Will the rent be the same for coming five years?
How would be the job market?

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WHEN IS THE GOOD TIME : Any time you feel confident in your job and when you FIND THE NEED for one.

I will discuss all of the questions in no particular order. But read them well and understand the answers to your questions before you make a start.

RENT INCREASES IN TORONTO :
http://www.acto.ca/en/law-reform-advocacy/archives/rent-increase-guideline.html

2013 : http://www.ltb.gov.on.ca/en/Key_Information/STEL02_111283.html

UNEMPLOYMENT RATE : http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/lfss04f-eng.htm

MORTGAGE RATE : With in this website ARE :
http://www.ratehub.ca/best-mortgage-rates?gclid=CJOIlLainbQCFelFMgod_nQAAg
http://monstermortgage3-px.rtrk.ca/
http://www.centum.ca/ and I know a few who work in there.
http://www.mortgagediligent.com/

FOR First Time Home Buyer :
http://www.theglobeandmail.com/globe-investor/investor-education/investor-education-fund/home-and-real-estate/what-government-plans-can-help-me-buy-my-first-home/article4203801/

http://www.homelegalcost.com/rrsp.asp

Scroll down this for sale map AND CLICK ON THE MAP : http://zolo.ca/map_search.php?a=%2C+Toronto%2C+ON&sc=ON-Toronto-Toronto-Desktop-Laptop_Toronto_toronto-house-for-sale&gclid=CN7rq4ClnbQCFYw-MgodCAsA2g

There are people for buying a home and then there are a few who will discourage you from buying one. So it is upto you to make a valued decision in this field of home buying. It also calls for job security, the size of the family and the ability to continue till your retirement to sustain all of the expenses and work load associated with everything. Do an in depth analysis of all of the factors. If you come up with cash in hand after all of the above expenses, with savings for retirement, you can surely enter into it. Otherwise NO. Don't make a hasty decision.

Here is a well known group that does a good evaluation. They also flopped. So,....
http://www.postcity.com/Post-City-Magazines/April-2012/Real-Estate-Roundtable-2012/
http://canadianprofiteer.com/will-canadas-housing-bubble-burst/
http://www.movesmartly.com/2012/03/is-it-a-good-time-to-buy-toronto-real-estate.html

ONE THING YOU MUST TAKE into Consideration is that currently MORTGAGE rates are very low. If and when they go up, (Which will be in the next SIX Months or so) your expenses will creep up and they could double easily. Do you have the income to sustain these at double the current rate??!! IF NO, then stay put in a CONDO or an apartment. You will enjoy your retirement in a lot of comfort with money to spare....

FH