“It was that fast,” says Warren, who admits to a few frissons of buyer remorse.
That’s not to say she hadn’t already thought through the merits of buying. As the purchaser and owner in her household – her husband is an artist, woodworker and makes props for the movie business – she had been monitoring the market, weighing the financial merits and had already decided the right time to buy might be at hand.
Warren, 51, originally purchased a starter home in 1993, a townhouse on St. Clair Ave. E. near O’Connor Dr. in East York.
“Since then, I have been watching the Toronto real estate market, and as we all know, it’s been kind of stupid up until about the last six months,” says Warren, a tax consultant for a large chartered accounting firm. “I realized that the amount by which my house was appreciating, versus the amount by which prices were increasing on the kind of house I would want to buy, they were not keeping pace. In other words, I was falling behind.”
Read Ellen Moorhouse’s article “Signs of life return to housing market” in the Toronto Star (April 11 2009)