The recent economic downturn has left many people wondering if this is a good time for them to buy their dream home or even an investment property
. The housing market crash has left a lot of questions unanswered about the future of the housing market.
Is it still considered the safest and best investment of a person's life to purchase a home?
One thing is for sure, it is a buyer's market! If you are interested in buying a home in Alberta, now is the time. Home prices have dropped over 20% in many areas around Alberta. Not only will you be saving close to $100,000 on a $500,000 house, but to top it off, interest rates have been slashed drastically over the past two years to give the potential buyer much more buying power. This gives a buyer more purchasing power because with a lower interest rate a buyer will either have a lower monthly payment, or can afford a nicer home for the same payment!
Visit a mortgage broker in Alberta to get prequalified for a home loan. This is the first step in buying your dream house. This way you can narrow down your search by what you are prequalified for and by what the mortgage specialist says you can afford as well! It is important to meet with a mortgage broker in Alberta prior to starting your search because they may find some issues with your credit while you get prequalified. As long as you get on top of it quickly, it should not hinder your home purchasing experience too much if it is a problem that can be fixed.
Your mortgage broker in Alberta is the expert. He will guide you through the home buying process. Be sure to trust the specialists in this process, this will be the biggest investment of your life!