I’ve been debating whether to buy a condo downtown or keep renting for a few more years. With prices continuing to climb, I’m worried about waiting too long, but I also don’t want to rush into it. For those of you who’ve bought in Toronto recently, do you think it was worth it, or should I hold off?

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Very happy with my purchase and it is a great time to purchase right now with a tone of inventory on the market. With more rate cuts expected next year I expect market to pick up late spring next year. Just my personal opinion, I think there is a pocket of opportunity for buyers right now

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It's up to you haha
Depends how levered you will end up with the purchase. Even if it's a bargain at the moment, you don't want to be house poor and get by paying interest payments and tiny principal. Most condos built post 2018 will be small no matter what.

It's not purely a financial decision but also your lifestyle so weigh those options carefully. I whole heartedly disagree with people saying just buy because if you rent you are making other guys richer.

Ps. Don't listen to RE agents. Their default answer is transact no matter what. They say the same story regardless of market cycle. How things will be better or this is the ripe time to buy.

It's a buyers' market right now. In my opinion, buying downtown in Toronto is always a good investment. Your property value will just go up year after year. Just ensures not to buy a poorly managed building as they do exist in downtown toronto. Also, do a tone of research and don't let the real estate agent rush you. If you start looking now, you'll likely land on something by spring-ish in which it may even land you a better mortgage rate.

Agree with most of your post, but don't think condo prices will rise yoy as evidenced by the pats 3yrs.

I think it'll stay flat in 25 and have some rebound in 26 as the current inventory is absorbed and lack of housing starts now will create a ripple of supply shortages later.

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