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Alternative Home Ownership trends
in Sudbury
Sudbury has experienced an increase in homebuyers looking to alternative forms of home ownership in order to overcome affordability challenges.
Looking ahead in 2024, the increase in creative home ownership is expected to continue and even increase, due to continued lack of inventory, rising prices, and migration into the area which will likely put a further squeeze on inventory and prices.
The RE/MAX network has notes an increase in new homebuyers or current homeowners in the region looking to develop secondary suites as a way to earn additional income. which is anticipated to continue for the remainder of the year.
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1. Income/secondary suites
2. Rent-to-own
most-common forms of
non-traditional ownership:
1. Potential tenant issues
2. Potential conflicts with co-owners, family or friends
3. Limited availability in the region
buyer concerns and misconceptions:
Sudbury property sellers have shown no critical concerns about accepting an offer from a homebuyer employing non-traditional methods to purchase.
Seller perceptions
Speak to a good lender about which options are best for you. A professional realtor might know someone in their network with whom they could put you in touch with, with insight and expertise tailored to your specific needs.
You can use your professional realtor for insight on the latest market trends, and neighbourhood insights to help inform your search, and talk through all your options before making an informed decision.
home-buying advice
regional insight
Regional insights and advice provided by RE/MAX brokers and agents. Each RE/MAX office independently owned and operated.