1. Historically the longer you wait…
the higher the price.
As evidence by the CMHC cost index
for the past 25 years
2. There are 2 components in purchasing a home:
(A) Cost of the Property
(B) Cost of the Money
Both of these are commodities.
You of course wish to purchase both
at the best price possible.
If interest rates go back to 5% this is historically still very low in regards to rate.
Please see the difference between 5% vs 3.29% = 1.71% difference.
On a $400,000 mortgage if you wait to purchase, even if prices to NOT go up,
the interest difference of 5% VS 3.29% over 25 years is $111,900.00.
You just paid $112,000.00 more for the same house!
This is not my opinion these are facts.
Is there really a good reason to wait?
Please contact me anytime for further information.