My last blog was about what a good investment real estate is in Canada. Those who are just starting out or who are thinking long term have the choice of investing their money in assets such as stocks, bonds and mutual funds, or buying real estate. In addition to being an investment that typically increases in value over time, real estate is also something that most people understand. It’s real … tangible … bricks and mortar. You see, feel and live in it. Choosing to put money into other assets takes a certain level of sophistication and usually involves more risk. You have to live somewhere, so paying monthly to buy rather than rent has many long-term benefits.
The point is – if you decide that real estate is the best place for your hard-earned dollar, NOW is the perfect time to buy. In fact, buying now rather than later is smart for many reasons. Interest rates are still amazingly low, and are certain to go up in the future. The prices of homes and condominiums continually rise as well. Buying a home or condo is a good idea any time – but why not take advantage of these remarkably low interest rates while you can?