Canadian Real Estate Markets Are Expected To Raise 9.2% For 2022, What Does That Mean For You?
Sunday Dec 05th, 2021
The Canadian real estate market has been steadily on the rise for the past years, and it seems like this trend might continue on to 2022. According to the 2022 Canadian Housing Market Outlook Report, there is an estimate of 9.2% increase in average residential sales prices across the country due to the ongoing supply shortage and the high demand for Canadian real estate.
What does that mean for you?
If you were looking for a sign to purchase a home then, this is it! There are many benefits when it comes to buying a home in winter; lower moving costs and less competition for houses, usually you end up paying less by about 10%. Not to mention lower mortgage prices are always a bonus.
Questions to consider before you buy
How is your financial health?
Auditing your financial health is vital when it comes to thinking of purchasing a home. Look into your savings, bills and your credit score. Most importantly how much mortgage you can qualify for and what you can afford monthly in terms of your payments, this will help you set a budget before you start looking at houses and falling in love.
What is your ideal home for your needs?
What are your priorities in your dream home? Consider how much space you need, the location you want to be, what are your must haves and what can you be flexible on in your house search.
Who can help you find your dream home?
A knowledgeable and trustworthy real estate agent is a must have. According to the 2022 Canadian Housing Market Outlook Report , two-in-five Canadians trust their agent to advise them during the current real estate landscape (43%). Consider your real estate to be your next best friend in your home buying journey, check out their testimonials , experience and knowledge in the industry.