3 Reasons to Buy
1. Low interest rates. Mortgage interest rates remain flat, on average, making this a great time to apply for a mortgage.
2. Homes are still affordable. Home prices are predicted to remain stable and increase 2.1% in 2014, increasing the average MLS® price to between $362,400 and $392,200.
3. Reap the benefits of homeownership. Owning a home gives you the potential to build wealth over time as well as the ability to have control over your own space.
Canadian home buyers spent an average of 5 months house hunting and visited an average of 10 homes before they decided to buy.
1. Your home is a valuable asset. Nationally, home values remain balanced with most provinces seeing increased or stable home values.
2. The market is balanced, with an average inventory of
6.4 months at the current sales pace.
3. Your family or life situation has changed. Growing families may need more space than couples or families with grown children. If your home no longer fits your needs, it may be time to sell it in order to buy one that does.
If you’re looking to buy or sell a home, or you want the scoop on the local housing market, give me a call.
Profile of a buyer
Canadians buy homes for a variety of reasons, including:
44% bought because they felt it was a good investment
37% thought it was the right time to buy
23% bought to move to a new neighbourhood
18% bought to accommodate their expanding families
80% of buyers knew that their home was the right one as soon as they walked in it.