Why Right Now Is The Right Time to Buy?
In addition to the current buyers market we are experiencing in Ontario, there are still potential buyers sitting on the fence these days- not quite sure if now is a good time to buy a home.
Given the ongoing concerns about the economy, I suppose it is understandable that some consumers are a bit hesitant in purchasing a new home. But smart and savvy buyers understand that now is a great time to buy a new home.
WHY? WELL, CONSIDER THE FOLLOWING:
LOTS OF CHOICE- The selection of new homes available to consumers today is outstanding. From single family , townhomes and condos – the variety of styles available is so extensive that many of your “ wish list” items may be accommodated. Many builders in Ontario currently have inventory that is move-in ready. While others are offeirng great incentives for buyers looking to take advantage of purchasing their product.
ATTRACTIVE PRICING- Housing prices have moderated in most areas of the province. That’s good news for all buyers, but in particular first time home
buyers who can now reap the benefits of a slowing market and get into the housing market with an array of affordable housing choices to meet their specific needs. If you are putting off purchasing a new home in the hope that prices will drop further – don’t bank on it! Builders, while anxious to move the inventory they have, are now curbing new construction activity. That means eventually demand will outstrip supply and prices will once again rise. So now really is a great time to take advantage of the current buyers market we are experiencing.
LOW INTEREST RATES- Mortgage interest rates are at very favourable levels – in fact historic lows- and qualified buyers should have no problem getting financing. That’s especially good news for first time buyers because buying a home is now a much more affordable option.
BUILDING PERSONAL WEALTH- For most people, owning a home is an important stepping stone to accumulating personal wealth and assuring financial security. History has shown that despite occasional market fluctuations, over the long haul, real estate is a reliable, secure and solid investment. And after all, you have to live somewhere, so why not own your own home rather than paying rent to a landlord?
GREEN AND CLEAN- With rising energy costs of concern to homeowners, it’s good to know that today’s newly built homes are more energy and resource efficient than ever. As well, great advances have been made in developing and manufacturing building products that contribute to the ‘greening’ of Canadian homes which makes a newly constructed home a great option for today’s environmentally concerned homebuyer.