If your on the fence about buying or selling your home there's no need to wait. The housing market is stable and real estate is still a great long-term investment. Interest rates have crept up and are expected to move up a little more, however rates are still well below historical levels. While home values are rising, they're still considered affordable.
So, why wait! Here are some reasons why now is a great time to buy or sell:
3 Reasons to Buy
- Low interest rates. Mortgage rates remain low, even though they have moved up slightly this year they are still well below the historical average, making this a great time to get a mortgage.
- Homes are still affordable. Home prices are predicted to increase 3.5% in 2016, increasing the average home price in Brantford to roughly $298,000 as per CMHC stats.
- Home ownership Pays. Owning a home gives you the potential to build wealth over time as well as the ability to have control over your own space. The average home owner has 46% more net worth then the average renter.
“Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy.” -Marshall Field
3 Reasons to Sell
- Your home is a valuable asset. Nationally, home values remain balanced with most provinces seeing increased or stable home values.
- Its a Seller's market. We currently have less homes for sale then the statistical average. Homes that are priced right and show nice are selling close to or at asking price, some homes are selling for over asking in a multiple offer situation.
- Your situation has changed. Growing families may need more space than couples or families with grown children. If your home no longer fits your needs, it may be time to sell it in order to buy one that does.
If your looking to buy or sell a home in the Brantford & Brant County area or you want the scoop on the local housing market, give me a call.