If you’re a current homeowner in Ontario who has been dreaming of purchasing a rental property or a secondary home—now might be the perfect time to take action. The real estate market is shifting, and what we’re seeing right now is a buyers’ market. That means there are opportunities available today that may not be around for long.
As a mortgage agent, I want to share why this environment is worth paying attention to if you’ve been considering building wealth through real estate or enjoying the lifestyle of a vacation property.
1. Prices Have Softened in Many Markets
Over the last couple of years, home values soared to record highs. Today, however, many communities across Ontario are seeing price adjustments. Buyers now have more negotiating power, and in many cases, properties are selling for less than they would have a year or two ago.
If you’ve been holding off, waiting for the right moment, this dip in prices could mean you can finally step into the market without the same level of bidding wars or pressure that existed not long ago.
2. Increased Inventory and Choice
When markets are hot, buyers often find themselves competing against multiple offers and making decisions in a rush. In a buyers’ market, inventory tends to sit a little longer, giving you time to evaluate options, negotiate terms, and even add conditions that protect your interests.
For secondary homes—whether it’s a cottage up north, a city condo, or a ski chalet—more choice on the market means you can find a property that truly fits your vision instead of having to “settle.”
3. Building Wealth Through a Rental Property
A rental property can be a powerful long-term wealth-building tool. With rental demand strong in Ontario, especially in cities and university towns, owning an investment property provides an additional income stream that can help offset mortgage payments and expenses.
Even if interest rates are higher today than a couple of years ago, many investors are focusing on the long-term picture: property values tend to rise over time, and mortgage rates can always be revisited if they drop in the future.
4. Lifestyle and Family Benefits of a Secondary Home
Beyond rental properties, many homeowners dream of owning a cottage or secondary home where their family can create lasting memories. In today’s buyers’ market, you may be able to find a vacation property at a more accessible price point.
And remember—a secondary home doesn’t have to be just an expense. Some owners choose to rent out their property part-time to generate income that helps cover costs while still enjoying personal use.
5. Financing Options are Available
Many homeowners don’t realize the flexibility they might have in leveraging the equity in their current home. That equity can often be used toward the down payment on a rental or secondary property, opening doors that might not seem possible at first glance.
My role is to help you explore the numbers, compare lender options, and see what makes sense for your situation.
Final Thoughts
Markets shift—it’s the nature of real estate. Right now, Ontario is experiencing a window of opportunity where buyers have more power than they’ve had in years. If you’ve been waiting for the “right time” to take that step toward a rental property or secondary home, this could be it.
If you’d like to see what your options look like, let’s connect. I’d be happy to review your financing possibilities and help you make an informed decision.