Why buying your first home during inflationary times is good

Making Dreams A Reality!


Are you a first-time homebuyer concerned about rising inflation? It's understandable to have some reservations, but rest assured that there are still plenty of reasons why buying your first home is a great idea, even during inflationary times.

Firstly, Canada's housing market has historically been stable and resilient, even during economic downturns. This means that homeownership remains a reliable investment in the long run, and you can feel confident in your decision to buy a home.

Secondly, the Canadian government offers programs and incentives to help first-time homebuyers get into the market, such as the First-Time Home Buyer Incentive and the Home Buyers' Plan. These programs can help you get a foot in the door and make homeownership more accessible and affordable.

Additionally, as inflation drives up the cost of living, owning a home can provide a sense of stability and predictability in your monthly expenses. Unlike renting, where landlords may increase your rent at any time, owning your home means that your monthly mortgage payment will remain the same for the duration of your mortgage term.

Finally, by owning a home, you can build equity and wealth over time, which can help you achieve your long-term financial goals.

As a mortgage broker, I can help you navigate the Canadian housing market and find the best possible mortgage deal for your unique financial situation., now could be the perfect time to take the leap into homeownership.

So if you're a first-time homebuyer, don't let rising inflation discourage you from achieving your dream of homeownership. Contact me today to schedule a consultation and start your journey towards owning your first home.

6 Signs a Home Will Likely Increase In Value
March 25, 2020 @ 9:39 PM by:

A home is a massive investment. Any new homeowner will naturally hope their investment will gain value. While nothing in life is guaranteed, there are some excellent indicators that a home is likely to substantially increase in worth over the years. Here are the six main signs to look for.

1. A nice neighborhood. Location often plays the largest role in determining home value. Consider what can be found in close proximity to home. Are there quality restaurants, cafes, good grocery stores, banks, and department stores relatively nearby? How about pleasant parks and trails? Most importantly, is the area safe and crime-free?

2. A pleasant street. Virtually all home buyers prefer a house found on a quiet street with a nice atmosphere. Think big leafy trees and well-maintained lawns -- the kind of place it would be enjoyable to walk in. Homes that are obviously run-down are a huge negative -- for example, a house that looks as if it hasn't had a fresh coat of paint in decades.

3. A strict homeowners association (HOA). Restrictive homeowners associations can be a huge pain to deal with. On the flip side, they are also great for resale value. The restrictions an HOA places on homeowners helps ensure the neighborhood doesn't go to seed and thereby damage home values.

4. A family-friendly design. Many homes are bought by young couples who are either planning for children or already have them. To be suited to families, a house should have three or four bedrooms and multiple bathrooms, including at least one bathtub. An open layout and the presence of a yard are also advantages.

5. A good school district. When deciding where to buy a home, parents may care more about the local schools than the home itself. While schools rise and fall in quality, the change is generally gradual, so being located in a solid school district is a strong indicator of future home value.

6. Timeless design. Generally, a home that stands apart is worthless. A home with quirky, unusual features will have less mainstream appeal and thus less resale value. In contrast, design choices that appeal to almost all tastes will always sell well. Think features such as hardwood floors, a spacious, open floor plan, tall ceilings, and lots of natural light.

Many homebuyers imagine they will stay in their new home for the rest of their lives. However, that usually doesn't happen. The exigencies of life mean that moving at some point in the future is likely. That's why the potential resale value of a home always matters a lot, and should always be taken into consideration.