Unsure about the Housing Market....let's talk!

If you’ve been thinking about buying a property, whether that

be your first home, next home, forever home, or a home to

retire into, the current state of the Canadian economy might

have you wondering: Is this really the right time to make a

move? There is certainly no shortage of doom and gloom in the

news out there.

The truth is, that’s a tough question to answer in the best of

times. It’s nearly impossible to know for sure what’s going to

happen next with the housing market in Canada. It could heat

up or it could cool down.

So here’s some advice. Instead of basing your buying decision

entirely on external market factors, like the economy or

housing market, consider looking for the answers internally.

When you stop looking at the market to determine your timing

to buy a home, and instead examine the personal reasons you

have for wanting to buy a home, the picture can become much

clearer.

Here are some questions to consider. Although they are

subjective, they will help bring you clarity. Ask yourself:

● Does buying a property now put me in a better financial

position?

● Do I make enough money now to afford a new home

and maintain my lifestyle?

● Do I feel confident with my current employment status?

● Have I saved enough money for a down payment?

● How long do I plan on living in this new home?

● Is there any scenario where I might have to sell quickly

and potentially lose money?

● Does buying a property now move me closer to my life

goals?

● Do I really want to buy now or am I just feeling a lot of

pressure to just buy something?

● Am I holding back because I'm scared property prices

might drop soon?

There’s no doubt that buying a home can be stressful, but it

doesn’t have to be. Having a plan in place is the best course of

action to help you make good decisions and alleviate that

stress.

If you’d like to have a conversation to discuss your plans, ask

some questions, and map out what buying a home looks like for

you, we can address many of the unknowns together.

The best place to start is to work through a mortgage pre-

approval. There is no cost for this service, you’ll learn exactly

what you can qualify for, and it will provide a lot of clarity

about your situation.

You might decide that it’s best to wait before buying, and that’s

just fine. You might find that now’s a perfect time for you to

buy! If you'd like to talk, please connect anytime. You’re not in

this alone. We can work through everything together.