Right now is a fantastic time to be a first time home buyer in Canada and with so many programs to help you lock down your home, the process couldn’t be simpler. Whether you’re looking for your dream house or an investment opportunity, now could be the best time to get started. Here are 5 great reasons to buy your first home right now.
- Many financing options. As long as you have a decent credit score and steady income, there is a lot of programs available to help you get the home you’re looking for. Having a lot of options means that you can have a mortgage without sacrificing the quality of your current lifestyle. Canada’s Home Buyer’s Plan is an example of one such program that makes buying a home extremely convenient.
- The market. Currently, the real estate market is in its prime. If you secure a home right now, it’s guaranteed that your property value is going to go up afterward. Basically, the sooner you buy, the better.
- Great homes are available. Let’s face it – if you live in Canada and are old enough to own your first home, you know that there are many quality houses here. The economy is stable and that means more attention is being paid to the infrastructure of our cities. Whether you want something simple or more luxurious, the important thing is that you have a lot of quality options.
- Security. When you are renting, you never know when your landlord will decide to unexpectedly sell the place. Not only that but sometimes it can feel like you are walking on eggshells in your own home with the limited amount of things you can do or change. When you have your own home, you are free to come and go as you please and renovate it any way you like - feel free to hang whatever paintings you want and paint the walls as you please!
- No more wasting money on rent. This last one may seem obvious to some, but there is a surprising amount of people who can afford their own home and instead continue throwing money down the drain by renting. When you rent, you are paying your landlord’s mortgage. When you buy your own home, you invest in something that you can call your own.