By: Robert Katz
It is a tough decision for most people to decide, now that the economy is said to be bouncing back, whether it is an opportunity to invest or a time to save. Most experts, Including CEO of Century 21, Say that it has never been a better time to Invest. With the cost of capital right now down to record lows in the 4-5% range, the price of real estate still at rock bottom, and the overall availability high due to the overall lack of buyers this theory may not be just a push to help his business. Now most would probably say that they just want to wait a little longer till the economy bounces back with unemployment rates still in the double digits. Yet, based on research done by Realty Times this opportunity that the market is providing may be disappearing faster than most realize. There has been an overall increase by around 4% in housing sales from over the past couple years, with even higher 20% increases in areas like the Northeastern region of the US. Additionally increases in newly constructed homes around the country has increased by over 6% from the last couple years showing that there are financially secure people right now capitalizing on the current buyers market. Now, determining if you should invest is really based on nothing related to the facts I've just given, but more on whether you are financially secure or not. If not then save your money for the essentials, but if you have a decent amount of surplus cash lying around, making little to no interest in that savings account, real estate investment may be something you should seriously consider.
Sources:
1
2
3
I would of thought the first place to invest would of been to have paid down any high interest bearing loans. Gold and Silver have done fairly well. Then perhaps a favourably priced property in the right location.
ReplyDeleteWell, as of today, there's still a decline in mortgage rates in Canada. A Calgary mortgage company is offering cheaper rates compared to last year's. Canadians are now taking this chance to invest on good properties while the supply last. Edmonton mortgage brokers too, are giving the lowest calculations in home ownerships.
ReplyDeleteI personally think that I've just made the right choice in buying a house this year, because from what I've read, there are a lot of reasons why should we invest in a house. In Pittsburgh, mortgage refinance options have become easier and more viable to homeowners who need them.
ReplyDeleteI guess it really depends on which spectrum are we looking from. I've invested in a house while there are still attractive mortgage rates. Pittsburgh actually is a nice place to live in, too.
For me it's time to invest.
ReplyDeleteDeirdre G
Investing in real estate property is not a little matter. If you want to be a successful investor than you have to buy property after checking the information of property's market value, condition and location.
ReplyDelete