The fall market is in full swing. New home listings during the summer months tend to cool off, but now that we’re in the fall months. more listings continue springing up. More homes listed for sale means more opportunity for you to find your first or second dream home.
There are many options available when moving up to your second or third home. In fact, sometimes you can move to a larger or more expensive home without even increasing your mortgage payment. A few factors would come into play, however, such as remaining amortization, current interest rates, and mortgage product. We can review your current mortgage situation and calculate what the difference would be, if any, in purchasing your new home and all the costs associated with the move (realtor cost, legal, etc).
If you or someone you know is renting, now might be the best time to consider buying a first home. Rental rates are soaring in many parts of Canada. Huffpost reported recently that “rental rates soar by double digits in half of Canada’s largest cities”, and the trend for higher rental rates seem inevitable and not just in the larger cities. With interest rates still at relatively low levels, it might make financial sense for the short—and even more importantly the long—term to find out if now is the best time to go from a renter to a homeowner.
Making homeownership dreams come true is what we do best, and we would love to help you, your family, and your friends. Contact us today.