A First-Time Home Buyer's Dream

Recent developments in the Canadian real estate market have conspired to benefit first-time home buyers or buyers wishing to re-enter the market. Renters who have stable jobs but have previously been priced out of the real estate market are now able to find houses and condos which they can now afford, due to drops in average home and condo prices. Further, interest rates are at rock bottom levels, with interest rates as low as 4% on 4 and 5 year terms. And the high inventory of houses and condos ensures that there is a home out there to suit everyone. The government is also jumping into the market and supporting first-time home ownership with a home buyer's tax credit. For 2009 the maximum credit that can be claimed is $750 (For more information visit the HBTC website). Really, there hasn't been a favourable buyer's market like this in recent memory. For all of these reasons, first-time home buyers are not being left on the sidelines any longer. February sales numbers are due out soon and preliminary numbers indicate that sales will be better than in recent months. And, first-time home buyers may be a large part of the increase in home sales.

As always, visit my Calgary Real Estate website for further information regarding the Calgary Real Estate market.