Its February 2022 and we talk with prospective home owners every day. Some are starting to express concern at rising prices. Some are suggesting they will wait until the ‘boom’ is over.

This could be a big mistake. The Edmonton and area market is 2 years into its current UP cycle and history suggests that a full cycle is around 7 to 8 years. In other words, there is lots of UPSIDE yet to come.

If you are in a position where you can commit to living in your home for 5 to 10 years I suggest you do it now. Here are 3 solid reasons why:

1. You start building wealth the moment you assume ownership

2. At the current time (February 2022) you will have less competition from other buyers. Most buyers start shopping in May. You don’t have very much time.

3. Interest rates are slated to go UP. The longer you leave it the less affordable that dream home becomes. When money is cheap you might be able to buy a nice single family home. When money becomes more expensive you might only qualify for a townhouse. Which one would you prefer?

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About the author:

You can read more about the author of this blog by clicking this link - Stuart Neal, Broker, REALTOR® & Team Lead.

For a personal consultation, call our broker owner Stuart Neal at: 780-760-2014 x 3.

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