Inspiration from an article from the financial post by Jason Heath
The best move right now is to buy or rent. The renting market is god but owning a property is always the best solution. In the actual market, the buyer is prioritize with low mortgages rates and a buyer market. The decision to upsize is on the mind of a lot of families. I think the key needs to be based on how such a move impacts your budget and your ability to balance other long-term financial goals. Let’s look at the benefits to buy a property or to upsize from the one you already have:
Become an owner: First time buyers must take a lot of time thinking of when they want to stay put for a long time term. Right now, a buyer’s market is on, prices are low and the cherry on the sundae is that mortgages rates are at war. They are so low that everybody is surprised by that. But don’t neglige to talk with a good mortgage broker and be help by a real estate broker to guide you on this path toward a new start.
Upsize: The low mortgages rates are ideal for upsizing your property. Maybe you want to have more rooms for the children’s, more back space or more wardrobe space. In all of the cases you can now afford this dream house you’re been waiting for.
In each case, remember that life’s financial questions always have more than one answer. Everybody’s is different and have different budgets or needs. Don’t forget to work out a budget and understand the risks or your new move. Lets professional help you on this big change and help you make the best choices you can.