Is it a good time to Buy?

In this economy, with high real estate values, income levels not keeping up with inflation and interests rates at an all time high in the last 25 years. Is it a good time to buy?

YES!!!! Now is the best time to buy. Read on to find out why.

YES! It's a great time to buy but you have to be smart in your purchase. Here's some reasons why buying now makes sense vrs waiting.

Fear of Missing Out. STOP!

At any point you feel pressured to go pass any of your criteria to purchasing a home STOP! We need to come in with strong boundaries. Don't worry about missing out and end up over paying for a home. I know the market is hot and it's expensive, especially for those starting out. Don't go over board on prices. Get your Realtor.ca app or viewpoint.ca (for Nova Scotia) out and start learning your market. Go for walks in neighbourhoods you are looking to live in and see if there are deals to be had. If you are up for some sweat equity keep an eye out for forecloses, power of sales and tax sales. If you can keep your emotions in check and make smart decisions, NOW is a great time to buy.

Mortgage Rules are Consentingly Changing.

Mortgage rules are constantly changing. Not only from the government that sets the base rules. Insurers of mortgages, and each individual lender can change the rules at any time. As we see an increase in volatility in the housing market across Canada, we will see the rules get tougher to get approvals. My job is to match you with the right lender. The one that will approve you now, may not approve you in the future due to a change in lending rules. Buying now will prevent us from having to go back to the drawing board.

Buying smart today will be the best decision you've made.

Interest Rates are going to down soon.

Do you know that for sure? When is soon? When is someday? What if the rates go higher? In my opinion, the interest rates are not finished rising. Now is the best rate, no matter what. Getting you in the market, owning a home, no matter the interest rate is better than waiting for the time for the rate to lower. Instead, we can find you a mortgage product that allows you to refinance in 2-3 years for the lower rate, if it comes down. We can get you a mortgage product with a variable rate if you feel the interest rate will come down. It's my job to find the best product for you that fits what you want the mortgage to do for you.

Downpayments and Credit Score

These factors are continuing to change everyday. What lenders require and are looking for in a credit score to approve you? Changes every single day. Sometimes mulitple times a day. It may take time to fix a credit score but a downpayment may be harder to do as the cost of real estate continues to go up. Buying now with a lender that will work your credit score to helpy ou improve it, is better than waiting another year or 2 as the amount needed for a downpayment increases 10 fold.

Think outside the Box. Be a Creative Problem Solver.

Finding something to buy within your budget can be tough. A suggestion, you may not like, move. Find a place that fits your budget. Getting yourself into the market now vrs waiting is better. Start building equity, start paying yourself through your mortgage. Hopefully in 2-3 years or even 5. You'll have enough equity to move to the location you would rather be. Putting together enough for a down payment can be challenging. Have trouble saving yourself? Ask a smart finanical advisor to help. Build you First Home Savings Account (FHSA). Seek Rent-to-Own options. Find places you'll be able to purchase for cash. Yes, cash. They will need sweaty equity to get them livable but you'll be laughing in 2-3 years.

Seek individuals, like myself, that can help you understand and learn to think differently. These ones will help find the right Buy Now options.

Stop waiting for the market to get better or for that sweet deal. Buy Now.

Allow me to help you in your journey to getting approved for a mortgage. Contact me today for your free consultation and we'll work on getting you aprroved for NOW vrs 2-3 years down the road.