BUYING REAL ESTATE IN TODAY'S MARKET

BUYING REAL ESTATE IN TODAY'S MARKET
with Cyril Rocero - MaxPro Real Estate - Winnipeg Realtor

Is it the best time to buy real estate now?
If you ask an experienced investor, they always tell you that the best time to buy real estate is 5 years ago. During the pandemic year, prices of homes sold in Canada have ridiculously spiked very high exceeding tens of thousands to hundreds of thousands more than the asking price. Therefore, imagine if you had invested and bought multiple properties, vacant lands, commercial properties, and other investments in real estate from years before, you could be laughing now by selling them in today's market.

I'm not an investor, is it still good to buy real estate now?
I get it, we all want to take advantage while the mortgage interests are still very low, but now everyone wants to buy a property too and it just became a wild competition out there for all home buyers. I suggest not to become over-aggressive and land on winning but too over-priced property. You might realize later that even though you got a low-interest rate from banks, you still end up paying a high monthly mortgage due to a very high purchase price. Always consider that if anything unexpected happened and changed your lifestyle financially, there's always a risk of losing your beloved home and force-sell it for a lower price.

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