First time home buyers in Nanaimo- top 7 reasons to buy now!

First time home buyers in Nanaimo- top 7 reasons to buy now!

As a real estate agent, I often get asked by first time home buyers in Nanaimo "When is the best time to buy our first home?"  It is my opinion that because interest rates are still at historical lows; it's time to take the dive and buy now. 

 Here are the top 7 reasons it makes sense for first time home buyers to buy now.

 1.  Pride of ownership cannot be found in renting.

 2   Owning a home is the first step in building your personal wealth.

 3.   Mortgage rates are still cheap.  There are no guarantees that rates will not rise  over the next year.

 4.   Your home will be your own.  If you want to move a wall, add a bathroom etc. it is your call to do so.

 5.  I don't think home prices will come down by a significant amount anytime soon.  That being said you might want to plan on staying there for the next 3-5 years at least. Don't expect to flip it next year and make a profit.

 6.  Studies suggest that over the long-term housing has tended to beat inflation by a couple of percentage points a year.  That's valuable inflation insurance.

7.  Owning a house is forced savings. You're just paying yourself by building equity.

As a first time home buyer please give me a call and I will forward you my first time home buyers step-by-step booklet.