In Ottawa and the surrounding area, we are seeing lower house prices and low interest rates. You don’t want to lose this great opportunity to purchase the home of your dreams in an area you love because you waited?
Typically, we see more people buying a home in the spring, but this year is different. Last year there were more people buying a home in December and now this year in January as well. Predictions for February forecast a strong month due to the lower prices on homes that are on the market right now and the lower interest rates makes it even more attractive. Imagine thethousands of dollars that you will save on the purchase price and interest on your mortgage. Just think of what you could do with all of that money.
Rents are predicted to climb this year so there’s no better time to consider owning a home of your own. You can try our Mortgage Calculator to find out how affordable a new home can be this time of the year. A lower interest rates means your home can be paid off faster.
How would the lower interest rates also affect your home buying decision?
– You could buy a more expensive home in an area you prefer before the interest rates go up again and lock you out of that ideal area.
– You could put money into upgrades for your home that you may not have been able to afford before.
– You could put money away for travel and actually afford a vacation.
– You could put some money aside for your kid’s education.
– Pay off other debts you may have.
– Have money to purchase a car you may need.
Sure properties don’t look as pretty in the winter than as the summer, but most home owners have pictures of their homes taken in the summer that you would be able to see. Don’t let that stop you from considering buying a home in the winter.
Are you unsure if now is the right time for you? Do you have more questions about the local real estate market or interest rates before you decide what your next MOVE is going to be? Irene would be more than happy to answer any questions you have, she has been in the Ottawa/Orleans real estate market for a long time. You can trust she will provide you with the latest and best information possible. Take a look at her testimonials, they tell all.
While you’re here, you may want to read: How To Pick the Right Neighbourhood For You.