Is it the Best Time to Buy a Home?

It’s time to look at the positive side of the economic downturn in Alberta. There is no denying the Oil and Gas sector has an impact on the economy, but there are other factors to consider when it comes to purchasing a home. Low Mortgage Rates Available – Best Time to Buy High interest rates and the ability to save for a down payment are two major obstacles that affect ones ability to purchase a home. Saving for a down payment is a matter of financial discipline and knowing your options, but low interest rates are beyond our control. Banks are currently offering mortgage rates as low as 2.65% for 5 years, which is an opportunity that doesn’t come around often. It makes sense to take out a mortgage now because when the economy turns around, it’s likely those rates will go back up again. Consider locking in at a low rate now, and choose a shorter amortization period so you can make the low rates work for you and pay your mortgage off sooner. Make sure to shop around because you want to get the lowest mortgage rate possible. The good news is that it has never been easier. Go online and find a mortgage broker to ensure you find the best rate available. It’s A Buyers Market House prices are stable and if anything, they are expected to continue to go lower, which is another reason that it’s an ideal time to buy. It has been a sellers market for years; but it has now transitioned into a buyers market, making it a great time to jump in. Not only are prices relatively stable, but there are deals to be had. It’s easy to get caught up in all of the talk about the economy and put off buying your home until next year, but there are many opportunities available. Did you know mortgage payments are often lower than those monthly rent payments you are making? Homeownership brings a sense of pride and value, so think about where your rent check is going every month and make an investment in your future. Visit us today! Stop by our showhomes and sales centre to learn how we can get you into a brand new Savanna townhome with the lowest prices of 2015. We are located at 1203 – 339 Viscount Drive.