If you’ve been holding off on buying a home because of your uncertainty with Calgary’s economy and marketplace, we’re here to set the record straight and give you some very good reasons why buying a home in the New Year is a great idea.
- It’s a buyer’s market: According to the most recent statistics released by CREB, Calgary is sitting in a buyer’s housing market right now. These conditions are due to a combination of factors: high inventory and lower sales activity in the real estate market. What does this really mean for you? Affordability is a big factor right now, and the marketplace is favouring those in a buying position—prices are lower, inventory is up so you have more options.
- Mortgage rates are still historically low: yes, mortgage rates are still very low, but they are forecasted to begin rising. This means you don’t want to wait to take advantage of the rates we’re seeing right now.
- Calgary properties are holding their value: according to information released from the City of Calgary, based on the latest property assessments, properties in Calgary are holding their value. This means real estate is still a great investment.
- Rents are sky-high: recent news headlines show how bad the rental market is getting in Calgary. Rental rates are among the highest in the country within Calgary, making it an expensive endeavour to rent instead of buy.
- You’ll reap the tax rewards: did you know homebuyers and homeowners are eligible for a lot of tax rebates and tax breaks? It’s true, the Government of Canada has a roundup of these tax benefits on their website.
If you’re thinking about buying a home in the next year, please feel free to reach out and contact us.
