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It's time to invest in a Calgary condo market!
It's time to invest in a Calgary condo market!
Are thinking about investing in condominium living?
You may not know it, but there are several reasons why it’s an excellent time to enter the market.
1. The possibility of rising interest rates.
Experts say that interest rates are set to rise – and stay that way for some time. While Canada slowly recovers from the recession, bankers and market analysts are looking for interest rates to rise incrementally over the next two years. A survey of big bank economists suggested that over the next 19 months, the prime interest rate will more than double, going from the current 2.25% to a high of 5.25% (Survey posted May 13, 2010). What this suggests is that if you are not locked into a longer term mortgage, your payments will rise substantially.
Smart investors know that rates today are at an all time low and that locking in will create stability in property cash flow over the long term.
2. The new Canadian mortgage approval rules.
The government’s new mortgage qualification rules, enacted last month, have created challenges for investors buying investment property. Investors must now have 20 percent as a down payment ... more

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