Author: zarak.khan2009
A recent Royal Bank of Canada (RBC) poll showed that homebuying momentum in Canada continues to gain momentum with the portion of Canadians who are likely to purchase a home within the next two years rising to 10%.
This data is according to the 17th Annual RBC Homeownership Study; it shows that younger Canadians, aged 18-24 will be leading this year, with those to buy almost doubling to 15% from 8% in 2009.
Ipsos Reid conducted the RBC study, and it was found that 91% of Canadian homeowners believe a home is a good investment, making this the highest level in 12 years.
We also have 26% of Canadians expecting their home to be their primary source of income when they retire.
With this information, people have to be ready to see buyers not stalling any further with their purchase. If you are a buyer on the market today, you should not waste too much time when you find the house of your dreams.
As we know, there will be new mortgage rules as of April 3rd, and by the middle of the year interest rates should start increasing.
If you want to purchase your home with a low mortgage attached, now is the time to be purchasing a home, however I cannot stress this enough, that you should not over extend yourself too thin.
Tips will be provided to help you your buying process on a later date.
Glen Chapman
Broker of Record with Club “100″ GMAC Real Estate
www.club100realestate.com
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