It’s a Buyer Market and Now is the Best Time to Buy

For those of you who have been on the sideline for a while and hoping to get into the market, this is the time. As interest rates climb and house prices fall, “Offer presentations” are a thing of the past for the time being.

The fundamental problem of the “lack” of housing has not been solved, which means once the Bank of Canada stops raising interest rates, there will be a flood of people trying to get into the market. At this point, you will see house prices rise again, and Multiple-Offer situations start again.

If you want to get in the market now—Call us at D’Souza Homes, 647-628-3434, to start the conversation. We can help you buy the house of your dreams or help you on your buying or selling journey.

Buying a house is a significant investment, and it can sometimes feel scary to take this big step. It’s natural to have fears and concerns, but working with reputable real estate agents in Mississauga will put your mind at ease. The right real estate agents will help you find the perfect home; the following guide will highlight why buying a house is worth it!

1. You Need A Place To Live

You need a roof over your head, and you should try to own the place you call home. If homeownership makes sense, buying a house is worth it, and the best time to invest is today! The prices of homes are continuing to increase, as are mortgage interest rates, and there is no reason to wait if you can afford to buy a home. 

2. It Is A Great Investment

Whether you sell your home or plan to live in it long term, your home is an investment. Real estate appreciates in value over time, and if you’re planning on selling, you will be able to sell your home for a higher price. If you want to live there long-term, your home is still an investment, even if it’s not a financial one, because a home is where you can build a family, and it can become an investment for you to have a foundation to build on. A home is a safe space and true shelter for your family, and this is why the purchase of a house is an investment, regardless of your plans.

3. Paying A Mortgage Can Help You Save

Every one of your mortgage payments helps pay down your debt while accumulating equity in your house. This will allow you to save automatically, and when you are done paying off your mortgage, you will own an asset worth more than any other investment or any amount you may have in your savings account.

4. You Can Stabilize Your Monthly Housing Costs

The purchase of a home will remove the costs associated with landlord changes, lease terminations, and rent spikes, and you won’t have to deal with unexpected surprises. Rent prices continue to increase, and while homeowners will have to pay property taxes and home insurance fees, you will be able to control most of your monthly housing costs if you select a fixed-rate mortgage.

5. You Will Grow And Belong To A Local Community

Buying a home means you are tethered to a location, and you will be tied to a community. Buying a home gives you roots, and you will never be just another tenant. Homeowners become part of their community and establish long-term relationships with their neighbourhood. 

6. You Can Take Advantage Of Homeowner Tax Breaks

You can look into mortgage tax credits and tax deductions, and energy incentives as well. 

7. You Can Design Your Home As You Like

Home design is fun and personal, and when you buy a home, you can do as you please. You can incorporate designs based on your personal style and taste and will not have to worry about the rules and regulations that come with rental properties. 

8. You Can Earn Extra Income

Turning your house into a side hustle is a great way to earn extra money and pay off your mortgage. You can rent the spare rooms in your home or host with Airbnb.

9. Sail Into Retirement

When you pay off your house, you own an asset outright, and you can choose to live in the home or downsize and enjoy a mortgage-free life. This kind of financial freedom will allow you to enjoy retirement, and you will have the income to spend on the things you like.

No matter how you look at it, buying a home is worth it, and D’Souza Homes can help you find the perfect house. Working with experienced and knowledgeable real estate agents in Mississauga is a must, our team will listen to your needs and requirements, and we will show you listings based on this information. We serve clients in the Caledon and Mississauga areas, and you can contact our real estate agents at any time to start your search: Call 647-628-3434!