What goes down, must come up.
Real Estate in Calgary had a smokin’ hot 2014. So anything short of what happened last year is naturrally going to seem like a cool down period. The fact is, Alberta's real estate market is commodities driven, and this is GREAT news for you if you are thinking of entering the real estate market for the first time or even of expanding your portfolio. Doesn’t it make more sense to buy when the market is more consistent with long-term levels than waiting for the market to heat back up again?!
How low can you go?
Don’t even get me started on interest rates.
BANKS ARE PRACTICALLY GIVING MONEY AWAY!
Interest rates are at an all-time low, this means lower monthly payments OR affording more house. Mortgage lenders are still very protective of their money, which is good news. It means that the market won’t become oversaturated with homeowners who can’t afford their mortgage payments. Smart move, lenders.
Quit investing in your landlord’s retirement!
The rental market is starting to tighten up and you’re likely getting squeezed.
Landlords know hard to find a decent place for people to rent and they are taking advantage of that by upping rent and by investing in additional rental properties because of the low-interest rates. Shouldn’t you be doing the same?
According to Canada Mortgage and Housing Corporation, Calgary is has the second most expensive average monthly rent for a two-bedroom apartment in Canada (next to Vancouver) at $1,319 per month.
Did you know you could afford a $325,000 mortgage with the same monthly payments?
In the past year apartment rents in Calgary jumped almost 6%, despite weakening demand led by the slumping energy sector.
Even with the sky falling, the universe is still encouraging people to buy.
If you would like to book an in person or phone consulation to talk about your options for buying, contact us.