There is nothing more important than a peaceful, happy and secure home in any individual’s life. For many people a house is not just made of concrete and steel, it’s their life savings, hopes and dreams. During this covid19 pandemic we all had one common place that kept us away from the virus infection and that is our house.
As we are all well aware of the different types of properties available in Canada: it varies from Detached, Semi-detached, Linked, Townhouse to Condominium, but what we are not aware of is that in last September the detached house type touched a new record of 54.7% of sales activity as per recent stats released by TRREB topped all other property types in suburban GTA and city of Toronto.
Why did people start preferring detached and standalone houses ?
During this Covid19 pandemic working professionals from all over the world are asked to work from home till the deadly virus disappeared, but the situation has grown tedious and maximum people start setting up their office cubicles in their houses, but the greatest challenge of all was lack of availability of space and privacy in the house.
Imagine you’re living in a condo but some of your neighbors have been affected with the deadly virus and chances of getting infected is dubious though.
No matter how safe you think you are, there is always some sort of fear and therefore insecurity invades an individual’s peace of mind that leads to living a poor quality of life.
Understanding Market trends on detached house types
If you look at the Sales & average price by Major home type from TREB recent market stats it witnessed clear that detached house property types always tops the sale by average total sale of 5,559 with average price of $960,772 not only in last september but consistently tops in last quarter and the average price of single Detached house was $842,421 in september 2019.
If you invested in any Detached house property during last September 2019 on the price of around $813,000 in the GTA area there is was a chance of yielding return of 15 to 16% which is definitely considered as wise investment for a short time.
Housing market started to take a tight drift in Canada. Despite the increase of new listings and sales day by day in GTA people tend to start thinking about the better investment opportunity to beat the future inflation rate in the country thus property investments become a wise decision.
Condo V/s Detached house market
The Condo market has become more vulnerable in Toronto due to this covid pandemic, but it was stormed in many places during the first quarter of 2020. Condo prices were up 12 to 14 percent over the previous year but compared to the Detached house type condominium is slowest at selling. Often with multiple attractive offers, detached houses sell quickly and also people feel that they paid a good amount for a valuable premium space.
Condos sales in GTA have seen a roller coaster ride, one the one hand it is observed to be starting to recover but it will definitely take time to return to its earlier sales achievement. Total sales of 14.6% was recorded in last September. it’s a good number compared to August month’s sales record, which was only 10%.
Detached house and it’s benefits
A detached house is a single standalone structure that doesn’t share any walls with other buildings and this type of properties are often spacious, with lots of privacy and are more comfortable compared to other types of houses.
- A recent study finds that people who own detached houses are less stressed than those who don’t.
- Privacy is one of the important benefits.
- You can bring out the inner artist in you to design your house as per your preferences and taste.
- Outdoor spaces in detached houses can be used for a garden or a swimming pool or can use those gardens to sow your vegetables, fruits as per an individual’s interests and needs.
- In general, detached houses have garages and large storage spaces which are one of the notable features.
- Community expenses can be saved and some extra pennies from our pockets for any type of neighbour meetings.
- Value increases overtime and purchase of a home becomes more like a wise investment.
It has some challenges too, like cleaning, maintaining the garden area and security of the house. But people who bought a detached house never exaggerate, and the challenges mentioned above are often overcome by placing additional security cameras and Installing automated irrigation systems to keep the garden area green.
Life takes unexpected turns, but, when you are back at home, you are sitting on your cozy couch sharing your day with someone in your beautiful abode. On everyone’s journey, home is like a pitstop that rejuvenates them to gear up for the next day.
House is not just a place, it’s a feeling, and if you need an enough information to find and invest money in such properties. Otherwise you can always give us a call at 416-675-6300 to clarify and assist you find a suitable home that matches your needs.
