A Real Estate Agent Just Explained Why You Should Play 'The Long Game' To Get Your Dream Home
Staying flexible will help you get what you want!
If you're interested in buying a home in Canada but don't feel like the house of your dreams is within your budget, it turns out you might just need to be patient.
According to Trish MacKenzie, who is a real estate agent based in Toronto, playing "the long game" is key when it comes to eventually being able to get the keys to the property that has everything on your checklist.
MacKenzie chatted with Narcity about why you might need to settle for something you don't necessarily love in the short term, in order to see big gains in the years to come.
"It's just really staying flexible in what you're wanting and what your expectations are, for what you can get," she explained about buying in the current market. "And, understanding that getting to your dream home is right now a long game for a lot of first-time buyers."
MacKenzie notes that if you do buy a property that isn't maybe everything you hoped and dreamed of, you can use that as a stepping stone to eventually get to your goal.
"If you look at the long term and you use that equity, you can grow from a one-bedroom condo downtown with maybe 500 square feet, to using the equity that it grows to purchase your next property and resell," she said.
Using the equity that comes from investing in a property and then reselling will get you further ahead in the market in terms of money, but it's also a good idea to have a professional to help you navigate the complexities that come with buying and selling a house.
"You need to be really flexible with what your expectations are but also able to move really, really, quickly which is why it's a good idea to have a good realtor who can do your homework with you," MacKenzie shared
She explains that when you're buying, the benefit of having a realtor is that they help to take the guesswork out of the picture.
"It has a person who's an expert in negotiating and strategic thinking and working on their feet on your side, and essentially working as if they were you," she said.
Good luck, everyone!