Housing supply, rising interest rates, affordability, inflation, the economy, the lingering effects of COVID… there’s a lot on prospective homebuyers’ minds these days, when it comes to things that may impact their purchasing decisions.

To help you understand all the factors to make a better, more informed homebuying decision, our 2022 Builders' Annual sat down with some of the industry’s top builders and developers for expert advice.

Given the various characteristics of today’s housing market, what is your outlook for 2023?

My 2023 outlook is still optimistic. Despite interest rates rising, Toronto remains a world-class city with high immigration numbers, and we can see that people are still electing to live in the downtown core. We also continue to experience a strong rental market. Rental rates are good, supply is outweighing demand, and there is a strong appreciation on units bought through pre-construction.

What advice would you offer to buyers?

My advice is consistent: Location, location, location. Sites in the downtown core show the greatest stability from a rental standpoint, and the strongest opportunity for appreciation. Also, do your homework and invest with a developer or organization that has a dependable track record.

How is your company addressing the affordability issue?

We take a lot of pride in the effort we put into efficient design, creating livable units that address what the buyer needs, without being excessive. Each project is developed with a range of different units to satisfy the needs of all – from first-time homebuyers, to families electing to live in a condo. We also focus heavily on our amenity spaces so that our residents can have what they need within their community, without it all being necessarily within their suite (such as workspaces, gyms and hosting spaces).

What is it about your company that you would like prospective buyers to understand as they go through the homebuying process?

We are committed to excellence. We’re never finished designing and rethinking our buildings – we’re constantly working with our consultants and trades to find better products and finishes so we can be confident in delivering a superior product. Our recent collaborations are demonstrative of this. We were the first developer in Canada to partner with Clear Inc., a leader in cutting-edge water and air purification technologies, to be implemented into all our new buildings. We’re also the first developers to partner with Freemotion Fitness, the global fitness pioneer renowned for top-of-the-line cardio and strength equipment including the Orangetheory Reflex treadmill. We’re always seeking out the best to disrupt the status quo for our residents