A few days ago a first time buyer asked if this was the right time to buy a home in the Oshawa area or if he would do better by waiting?
I always think it is great time to stop paying rent. First time buyers have an opportunity to buy a home today at prices not seen in four or five years and at interest rates as low 4.39% for a five year mortgage. Those who are currently renting can usually buy a home with carrying costs that are lower than what they are paying their Landlord.
Have prices hit bottom? Some experts believe they have, others are not so sure. The truth is that we won’t know for sure until they start climbing again. I suspect a year from now some very smart people will still be sitting in their rental and regretting that they missed this opportunity.
For all your real estate needs in Whitby, Oshawa, Courtice, Bowmanville and surrounding areas call the father and son team, Roger Bouma and Mike Bouma at 905-434-5452