The beginning of 2015 was a bit rough for the Calgary economy. But does that mean this is a bad time to buy a house here? Just the opposite, in fact! Here are 5 reasons why now is a great time to purchase a home in Calgary.
1. Listings. Listings everywhere!
As we head into the summer months, the amount of active listings across the city is steadily increasing. More selection gives you more opportunity to find a home that has many of the things on your wish list and is in your preferred area. With a high volume of homes available, it is less likely that you will find yourself caught up in a bidding war or lose out on a home that you really want.
2. Lots going on in the neighbourhood
The past few years have seen quite a bit of growth throughout the city. Neighbourhoods in all quadrants of the city have expanded rapidly to accommodate the influx of residents. Many areas have been able to add amenities, programs, and services. A wide range of amenities available locally means that you spend more time enjoying your community and less time stuck in traffic.
3, That zero could be your hero
Your home can actually improve your bottom line instead of just borrowing from it. There are many neighbourhoods in Calgary with homes that have basement suites. Buying an income generating property can help you to save for the future, increase your monthly income, and offers a few tax benefits.
4. A perfect storm
Calgary is in the midst of a perfect storm. . . for home buyers. Interest rates are low right now and many homeowners are motivated to sell. Even with the hefty price tag attached to some Calgary homes, low interest rates can help make mortgage payments more affordable than rent.
5. The numbers don’t lie
Although they are not completely immune to market fluctuations, property values in Calgary generally experience positive growth. If you shop smart and are ready to settle in for a few years, you will likely earn a healthy return on your investment when it comes time to sell.
If these five reasons are not enough to prove that now is a great time to buy a home in Calgary, here is a bonus reason: it’s Calgary! Best. City. Ever.