The housing market in Calgary is on the rise. In fact, realtor.ca predicts that by 2020 there will be a total of 18,000 new homes being built in Calgary! It’s important to keep up with not only how much your home is worth but also what you can expect from the future of the Calgary housing market. Keep reading below for more information on this topic and make sure to get informed before making any decisions about whether or not it’s time to buy a house in Calgary.
1. Calgary’s housing market
The market in Calgary is on the rise and that means it’s a great time to buy your first home! If you’re looking to buy a house, now is the time. The best thing about this market is that you’ll be able to find great homes at affordable prices whether or not you have all of your savings ready right away.
2. Why the Calgary housing market is booming
Towards the end of 2014 oil prices were starting to fall, which meant that many people in Calgary may have been worried about their jobs. This is why it’s important to remember that if you’re thinking about buying a house in Calgary now is the time! Even though there are less jobs available right now, this means that houses are much more affordable than they were before.
This made it a great time for those who wanted to buy and sell homes as prices fell dramatically due to less demand on new properties. Now with stronger employment rates and more stability in the economy we can expect this market to continue to grow over the next few months.
3. How to prepare for this boom in prices
In order to make sure you’re ready to buy a house in this market, it’s important that you have your down payment saved up. While now is the best time to buy a home, it could also be risky if there isn’t enough money saved up as well. In addition to saving your own money, take advantage of options like having a family member co-sign a loan with you.
4. What you can do if you’re not ready to buy a house yet but want to get ahead of the game!
If you’re not ready to buy a house yet or don’t have enough money saved up, that doesn’t mean there aren’t other options for you! If this is the case, it’s important to think about how else you could get ahead of the Calgary housing market. For example, make sure your credit score is in good shape and that you have money saved up. Then, in the future when it’s time to buy a house your credit score will be great and you’ll have enough savings for down payment!
The market is on the rise but that doesn’t mean there isn’t still some room for prices to go higher. If you’re thinking about buying a home, now is the time to do it. If you’re not ready yet, there are many other ways to get ahead of this market and be prepared when the time comes! We hope this blog post has been helpful to you and that it gets you ready for buying a house in the Calgary housing market.