Lately the news on the housing market in Alberta are not very promising. It seems every day has a new flavour of doom and gloom. The fact is that we have to live somewhere. We can be a renter, a home owner or a landlord. The opportunity is there.
Everyone wants to hit that perfect moment when they buy. Should I buy now or wait in case the market drops more? We can drive ourselves a little crazy with that and 9 times out of 10 we will not hit the perfect moment. My answer to when is the perfect time to buy: 20 years ago.
Think of real estate as a long term investment and then look back over the last 10, 20, 30, 40 years. Even with all the ups and downs in the past it will be hard to find real estate in Canada that hasn’t gained some value in the last 20 years, never mind longer. Are you trying to find that perfect time to buy a home and are wasting your money on rent in the meantime? You have to live somewhere.Even if you buy a bit higher will that home not gain value over the next 10/20 years? With what other investment can you have an equity stake of 5% and make 100% of the decisions on any changes on the subject, whether it’s renovations, additions, selling it, potential of renting it etc?
In a downturn market there are opportunities of picking up properties for investments.
If you have any questions I’m always happy to help.