New year, new home? A guide to preparing for your next move

The COVID-19 pandemic has led to a change in people’s perspectives about their living spaces, with many seeking bigger homes with outdoor areas or relocating to new locations. This article provides a quick guide to preparing for your next move, whether you are renting a new place, buying your first home, or downsizing. With the rental market slowed down by the pandemic, the article notes that renters currently have an advantage in the market, with a huge supply of rental units available and many buildings offering big incentives to attract new tenants. For first-time buyers, historically low mortgage rates have made it easier for them to enter the real estate market, although affordability remains a challenge. Downsizers are advised to look into condos, as there is a lot of supply and less demand than usual, and sellers are often willing to negotiate on price.