Buying a home in Canmore can be the most rewarding and exciting purchase you will ever make. However, depending on what your current circumstances are, buying may not be the best option for you. While it is true that everyone would love to own their own home, this is not always possible when you consider the huge investment necessary. There is also the issue of practicality when buying the home. When looking at homes, you need to determine whether you should buy or rent the property. In order to help make the best decision, you need to ask yourself some important questions.
Is this something you really want to do right now?
The first question that you should ask yourself is whether you want to buy a home right now. Do you want to own a home or do you have other priorities? Owning a home is a matter of choice and you are the only one who can decide whether home ownership is a priority to you. If you decide that owning a home is important to you, you need to start thinking about how you spend...
Buying your first home can feel intimidating, but the truth is that the process is much easier than you think. You can find a home that suits your needs as long as you know how and where to look. Getting the services of a real estate agent, mortgage representative and lawyer will go a long way in ensuring that you get exactly what you need. You should not hesitate to ask as many questions as you need to help you make the right choice. Following are some tips that will help you to find your dream condo.
Determine what you want
Before you kick off your search, you should make sure that you know exactly what you want. Determine your priorities before you start condo hunting and come up with a list of your requirements. Some of the issues that you need to think about are the location, amenities, price and the number and approximate size of bedrooms and bathrooms. You should also consider how soon you are planning to move. The "Condominium Buyer’s Guide" that is available from the Canada...
How is the Real Estate Market in Canmore doing?
A lot of people have been asking me this question since the beginning of the year. Obviously the dropping oil prices have created a lot of uncertainty in a market which is strongly influenced by buyers from Alberta. 2013 and 2014 were two strong years for Real Estate in Canmore with ongoing price increases and between 450 – 500 sales every year. But how about 2015?
While Jan 2014 saw 25 closings, Jan 2015 saw only 13 closings which is about 50%
While Feb 2014 saw 35 closings, Feb 2015 saw 25 closings which is about 70%
March 2014 has seen 52 closings. To date (16.03.2015) we have 13 unconditional properties and 14 conditional sales. Considering that we still have another two weeks, we might still catch up with the numbers of 2014.
At the end of January the Bank of Canada surprisingly decreased interest rates which in consequence made mortgages more affordable.
So what is happening?
The drop in oil price did have a significant influence....