Quote:
Originally Posted by Burninator
I've been looking at some places recently so I thought I would bump this thread.
It's clearly a buyers market right now. Tons of inventory and lots of flexibility in prices. Heck, one building I am interested in has 25 units for sale right and the prices have been reduced more than once on some units. Where does everyone see the market going? Is it going to stay the same, get worse, get better? And when?
I'll be a first time home owner so I don't really have a timeline (meaning I'm not getting kicked out of my place and I don't play rent), but I would like to capitalize on the market to my advantage. So is it better to buy soon? Or keep saving my down payment for another...(3 months, 6 months, longer)?
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I think the Calgary market will still go down a bit, so I would wait. The next few months are generally good for real estate, so atleast wait until around Decemeber-January when the slow season is back.
Are you looking at finished product, or pre-sales that will take time to build?
If you're looking at finished product, I'd build up the downpayment for a bit, as I don't think prices will increase anytime soon. If it's presale, and will take a couple of years to build, look for a good deposit structure, and reputable developer.
If you're looking at pre-sale send me a PM if you want info on what we have selling in Calgary or opinions on certain developers.