Should I still buy a house?
I’m a real estate salesperson, so I think it’s a given that my answer to this question is, “Yes”! But let me go a little further with my answer. The real estate market has always been a good, long term investment so whether you buy in an up or down market, if you hold onto your property long enough, you will see a return (and sometimes a substantial return) on your investment. Is that true of just about every investment? Likely, but I’m not a stock trader, so you’ll have to go elsewhere for that answer!
Today the market in the Durham Region is great. News reporters are going to tell you that the market statistics are down and the “bubble” has burst because they sell based on sensationalism. Do they think we can’t remember that they were saying the bubble had burst at the end of 2008? I don’t think there ever was a bubble and most real estate analysts will tell you the same thing. We have had a slow and steady increase in sales and prices within the Durham Region and any dips we saw at the beginning of 2009 have been regained. There are always going to be ups and downs in the market, just as in any business.
So should you buy a house now? Or for that matter, are you thinking “Should I sell my home“? Sure, maybe you will get a little less for your home this month than you would have received last month, but the house you buy is going to be worth less also, so it’ll all work out in the end. And if you are buying now, don’t worry that the house might have been $5,000 less if you waited another 30 days, instead, buy your own home, start paying your own mortgage and building up the equity in your house. In five years, you’ll wonder why you ever hesitated. Mortgage rates are still really low. Go to my website and see a banner/link to Kyle Erickson’s website for amazing mortgage rates. He has lenders that he saves just for my clients and you won’t believe the deal he can get for you!
So call and see what type of mortgage you qualify for, then call me and we’ll go find the home of your dreams!