Is it a good time to buy now? why should I buy now…
As we see a flurry of real estate activity growing in the Montreal area, it comforts me to say that it is a proper time for buyers to make the move. Traditionally, spring is the time that many buyers and sellers become motivated to the real estate market. The warm weather and longer days encourage potential buyers to go out and look for that home that fits their needs. The current market is also a major factor as it is showing some price adjustments all over town – maybe not as juicy as buyers would’ve hoped to see, but sure attractive enough for them to make the move. The falling prices will help first time buyers, but that is only if mortgage rates stay low. .. but for now, LET THE MARKET COME TO YOU. Either prices will fall enough to make your purchase affordable, or just keep saving to build your down payment. Sooner or later, the balance of power in real estate will shift to your favour, and when it does, here are some tips to consider.
6 tips for buyers
- Surround yourself by a real estate professional. They are committed to high standard, and are fully trained to guide you through the sales process with the least amount of risk possible.
- Get your credit in shape. If you plan to take a mortgage, check your credit history, that way you can correct, and take measures to boost your credit score.
- Get pre-approved for a mortgage. Early in your search, meet with a mortgage lender. I can refer you to one as he/she will give you a better picture of what you can afford and the financing options available. Send me an email Elise.Oiknine@gmail.com
- Establish your budget. This will help you focus your entire search on only great homes within your price range.
- Make a list. Buying a home is a process of elimination, not a process of selection. Make a list of your ideal home’s must haves and deal breaker. This will help you narrow your search to finding the one that will fit your current and future needs.
- Think about resale. The average condo owner lives in their home for 5 years. While you may purchase your home as a long term investment, keep in mind that you may need to sale it one day. Consider it’s resale value when you are looking at properties.
- Have you been searching for a property?
- Or perhaps wanting to sell one?
- What are your obstacles?
- What are the new challenges you face? (salary cuts, self-employed, child birth soon etc…)
I’d love to hear your stories and/or comments you can write tem below. We could maybe use these in a futures post review?
Call me to learn more about the real estate process, or of the local current market. I’m happy to answer any and all of your questions.