3 Reasons Why Waiting to Buy Your Home in the Spring Could be a Huge Mistake
Most of us would prefer not to move home when it’s cold and snowy. Some buyers have told us they want to delay their move until the Spring. That decision could be a HUGE mistake.
- Interest Rates Are Not Going Down
The Bank of Canada intends to reduce interest rates IF it can. Most experts agree that if interest rates are lowered it will not be by very much. There is also the possibility they will go UP before they come down. If you can afford to buy a home you like at today’s interest rate, why not just buy it?
- You May Miss Out to Other Buyers
Want to wait for that ‘cream-puff’ home that will be listed in the spring? Line up. That’s what lots of other buyers will do. You can expect to face much more competition in the spring. You should anticipate multiple offers and in some cases you will have to compete several times in order to win a bid. If you buy now, you might be the only buyer at the table. Which scenario would you prefer?
- You Will Pay More
Based on a comparison of sales prices between January and May 2023, buyers paid 9% MORE in May than in January. In dollar terms, buyers paid $47,000 MORE in May 2023 when compared to January 2023 . What would you do with all that extra cash?
If you are financially astute, it makes sense to buy in the winter time doesn’t it?
To shop for ALL homes in the metro Edmonton area please go to our website www.AmbergateHomes.ca.
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