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?

The characteristics impacting today’s housing market don’t necessarily apply equal pressure or have a universal impact on all real estate types. What I mean by this, is that while certain challenges can impact one housing type like detached homes, or locations such as the downtown core, this can actually create unique opportunities in other areas. For example, while we’ve seen certain areas experiencing a slowdown in interest others, such as the Mississauga waterfront, have had a huge appeal to buyers, with plenty of interest. In 2023, if a building or community is unique in nature, appeals to a wide demographic, and contributes to the lifestyles of its residents, then I anticipate those offerings to experience good success

What advice would you offer to buyers?

My advice is always the same: Do your research and know who you are buying from. Prioritize what’s most important to you (such as location, transit and neighbourhood amenities) and then choose a builder with a good reputation, that has demonstrated experience, is committed to quality workmanship, and cares about the community as well as providing an exceptional level of customer service.

How is your company addressing the affordability issue?

For us, we continue to identify sites with multi-phase potential and partners for additional land opportunities to deliver new supply into the marketplace, as well as offer a diverse range of product (such as location, price point and suite type) that appeals to different audiences.
In addition to the downtown core, we have introduced new communities in Etobicoke, and most recently Mississauga, which offer more choice and flexibility for buyers.

Tridel is also a proud partner of Toronto Community Housing. Together we’re working to revitalize three under-resourced communities by rebuilding existing housing and integrating the affordable suites with market condominium units, all within a cohesive community.

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

When you’re buying a Tridel home, you’re buying more than just a condominium. To us, your trust matters most. We promise to deliver the homes our purchasers have been looking forward to, with the unsurpassed quality they expect, all with an exceptional customer experience along the way. It’s our “Built for Life” promise.

Tridel has been a proud builder of homes for more than 85 years, and we’ve delivered more than 87,000 homes to happy homeowners. Our commitment to quality, community and sustainability has earned us numerous awards within the industry, including Home Builder of the Year in both the GTA and Ontario, and Green Builder of the Year this year, as well as others for Customer Care, Design, DEI and CSR.