How To Know If It's The Right Time To Purchase Real Estate?

 If you’ve been thinking about purchasing a house, now may be the best time to act.The government has recently come out with new changes to mortgage rules that will take effect. These changes include higher down payments (10% for the portion of the home valued at $500,000 or less) and amortization periods of no more than 25 years. While these changes may deter some buyers, they are not enough to affect Canada’s housing market as a whole.The Canadian economy is still strong, with a GDP growth rate of $1.64 trillion in USD The highest it’s been in seven years. The unemployment rate is also at its lowest point since 2008 at 5.7%. With all signs pointing to a healthy economy, the housing market should continue to remain stable for the foreseeable future.

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• When it comes to real estate in Canada, there are two very important things you must consider before purchasing a home: location and timing. If you’re considering buying a house or condo in Canada, now may be the perfect time to act. If you want your property value to increase over time, purchasing an older home that needs some work can be a good option as well.

• Buying a fixer-upper can save you money on your down payment and provide more space for less money than buying the same house or condo without any work done on it.When rates are down, the interest rate on your mortgage will also be down. When rates are up, the interest rate on your loan will be up.

• As you can see, when interest rates go up, so do mortgage payments. This is why it is very important to shop around for a good fixed-rate mortgage loan before you buy your home. If you don’t get a good rate, you could end up spending much more than expected on your monthly payments.

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In conclusion, owning a home is one of the most secure investments that one can make in today’s economy. Although buying a home can be quite expensive and require much work and effort in some cases, it is an investment that will always have an appreciating value.

If you’re ready to buy a new home or condo in Canada, let me help you get started. We can connect you with lenders who can help you secure the best possible mortgage rate. With our assistance, getting a mortgage in Canada is easier than ever. We offer quick, easy and stress-free service. If you are looking for a professional Low Commission Realtor to help you purchase your next property Oakville, Canada we are here!