Is now a good time to buy real estate? I get this question all the time. Answer is not that simple. First and foremost, if you you are looking at moving homes, and we are talking about your primary residence, then now could be a good time.
If we are talking about buying an investment property, I have always questioned the fundamentals of this approach, because unless you are speculating on prices rising or rents rising, I don’t believe that Vancouver real estate makes sense and an investment that returns a reasonable amount compared to other investments. In most real estate investment scenarios in Vancouver you are lucky to be cash flow even.
So let’s go back to buying and selling your primary residence and let’s assume that you are moving from a less expensive home to a more expensive home. Now is a great time to make this move. First of all you have more choice than ever. Secondly you will get a greater discount on the home you are purchasing than the home you are selling. In other words, the difference in price between the buy and the sell will be less than if the market were heated and prices were rising.
If you have questions about the current market conditions and are interested in selling contact me at 604-808-9796