If I could just save....

I meet with a lot of first time buyers, and many of them tell me they would like to put down more than 5% down payment. They just need more time to save. "We will be ready next year" I hear that a lot.
 
Now lets disregard that fact the those one year goals almost never get accomplished. Lets just pretend for argument sake that they do manage to save another 5%. Unfortunately property prices don't sit still for that year, they typically move up, at an average of more than 8% per year for the last 100 years in the GTA. Last year, a recession year, prices only went up by 9%. So this buyer just lost his or hers 5% that was saved, plus another 3 to 4% on top.
 
Moral of the story. Get into the market as soon as you are able, and please get a professional to tell you if you are able!
 
And that is Alex's something to think about.

Shayzaad Kassam

Shayzaad Kassam

Broker
CENTURY 21 Millennium Inc., Brokerage*
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