Is This a Good Time to Buy?
Timing is everything, they say, and that can mean more than just knowing what the market is doing at the moment. When you are looking for your next Shuswap home, ask yourself the following questions:
Are you ready to buy?
Few joys can match the pride of owning the roof over your head. If you've never owned your own home before be sure to ask questions. Know what costs are involved in the purchase, ownership and maintenance before you proceed. Talk to the financial experts - your mortgage broker or financial advisor. Make sure you've got a sufficient down payment, that your credit rating is strong and your other debts are manageable.
Is now a good time to buy?
Sorry, no crystal ball here. Markets go up, markets go down and even the smartest experts can't accurately predict when a market will peak or bottom out. There are many factors that influence real estate prices including but not limited to the confidence level in the economy, vacancy rates, population growth and interest rates. The good news is if you're buying a home as a long term investment you're protected from short-term changes in the market. In other words - if you're not "flipping" it the constantly changing conditions don't effect you. Over time real estate has almost always increased in value and has proven to be a solid investment.