Find out how Sterling will pay for your lease
Find out how we can help sell your home for free
You will not find a lower price posted for the next year, guaranteed
Find out how we can help with your down payment
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Why now is the perfect time to buy the home of your dreams.
Steadier Job Market
Edmonton still ranks in the top 10 for the best Canadian cities for employment. In fact, the job market is improving so quickly, Edmonton jumped from the #31 spot to #9 within a year! This is great news both for job and home seekers alike.
It IS a buyer’s market in Edmonton, and not just because we say so. Despite what social media or the news might tell you about “waiting to buy”, this will likely cost you more in the long run. And here’s why:
Increased Costs Lead to Increased Home Prices
New tariffs, supply shortages and changes to building codes lead to the increased cost of home. While good builders will do what they can to avoid passing these costs along to you (which is easier to avoid in a buyer’s market), prices will increase when builder inventory starts to decrease.
Interest Rates Will Continue to Rise
Over the last year, the Bank of Canada has increased it’s interest rate four times. And, with consumer price inflation expected to increase to 2.5 percent over the next 12 months (tariffs on steel and aluminum, for example), rates are likely to continue to rise.
Down Payment Help
In addition to down payment help for first time home buyers as provided by programs such as the Home Buyers’ Plan, quality builders around the capital region may also provide some down payment help of their own. For example, some builders may offer flex financing programs that include down payment assistance, credit help, mortgage subsidies, low interest rates and more. This is on top of their regular buyer incentives (especially for quick possession homes), and ample inventory that allows them to sell at affordable prices.
If it’s style you’re looking for, you couldn’t pick a better time to buy a home. Builders like Sterling Homes are offering a wide variety of home styles. You could get a traditional two-storey home, front-attached home, a laned home, a duplex, or a townhome. Those who are building a new home from scratch have virtually no limits and those looking for a quick possession home are discovering they can easily find something that suits their needs.
Start Building Equity
When you rent a home, you’re not building equity. That’s fine if you’re not ready to settle down, but throwing money away on rent when you know that you want to buy just doesn’t make sense. There’s unlikely to be a major difference in the price of new homes over the years, so waiting a few years just means that you’re missing out on building valuable equity now. This is especially relevant for those looking for a new home in Edmonton as, with the city’s rental rates increasing, it’s better to have an affordable monthly mortgage payment (and build equity) than be at the mercy of unpredictable rental prices.