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Only and the ultra-low asking price instantly triggered a strong interest in the property. It is said that six buyers bid on the first day of listing.
It is reported that the property, which may be built between 1900 and 1942, is open, with bedrooms in the attic and residents need to climb ladders. The house was greatly renovated before it was sold in 2019.
The current owner said that in the past two years, he has also made more upgrades to the cabin, and the land area where the property is located has also increased.
In addition, the homeowner upgraded the hot summer vacation, added new wallboards and new appliances, and replaced stoves and refrigerators. The owner also planted grass in the front yard and removed a tree that blocked the light. Therefore, the homeowner thinks it is reasonable to quote C $375000.
More than 6000 people have come to see the house, but only two people have bid, and the price is not satisfactory to the owners, but there are still many people who are interested in the house.
Paul Taylor, director of the Canadian Association of Mortgage Professionals, pointed out that New Zealand requires a down payment of 40% for rental housing, which is a strict rule that Canada can learn from.
He believes that any policy should crack down on investors and encourage home buyers, especially first-time buyers, to buy low-end homes. Corriveau, a real estate agent in Ottawa, said it was sad to see first-time buyers struggling.
Advocates of affordable housing have called for changes in tax policies aimed at investors and even called for a reconsideration of taxing profits from home sales.
But a senior government official said that now is not the time to slow down.
The Canadian residential real estate market accounted for 17 per cent of GDP growth in the fourth quarter of 2020, with employment in the real estate sector rising 5.4 per cent and construction employment 3.4 per cent higher than before the outbreak, the report said.