Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Am I CRAZY to be building a new home in Calgary?

4X4 · 12-11-2008, 05:56 PM

I'm pretty confident that the market is going to pick right back up come spring. The over-correction of 2006 was over-corrected in reverse in late 2007 and in 2008. Most news outlets agree that calmer times are ahead and that things should plateau and slowly (very cautiously) start to creep back upwards the way they should.

Of course, if I were in your situation, I'd be just as apprehensive. There are alot of spec homes available right now. Heck, there are alot of everything available right now, and I personally doubt that the market is going to purge itself by March. In other words, you won't be getting 2006 dollars for your house. As long as you're ok with that, then I don't see any reason why you shouldn't make a move that would be beneficial to your family.
If your hang up is that you wont get "as much" as you could have a couple years ago, well, that's just reality. If it's any consolation, you'll probably be paying less for your new home as well.

Outta curiousity, are you set on building your dream home, or have you considered waiting until march or april to list your place and then snap up one of the new homes already there and maybe waiting another year or so to take the plunge and build?
It would get you into the community that you want to be in, but save you the anxiety of signing on the dotted line now and hoping that the market starts to recover when you *need* it to...

12-11-2008, 05:56 PM	#4
4X4 One of the Nine Join Date: Dec 2004 Exp:	I'm pretty confident that the market is going to pick right back up come spring. The over-correction of 2006 was over-corrected in reverse in late 2007 and in 2008. Most news outlets agree that calmer times are ahead and that things should plateau and slowly (very cautiously) start to creep back upwards the way they should. Of course, if I were in your situation, I'd be just as apprehensive. There are alot of spec homes available right now. Heck, there are alot of everything available right now, and I personally doubt that the market is going to purge itself by March. In other words, you won't be getting 2006 dollars for your house. As long as you're ok with that, then I don't see any reason why you shouldn't make a move that would be beneficial to your family. If your hang up is that you wont get "as much" as you could have a couple years ago, well, that's just reality. If it's any consolation, you'll probably be paying less for your new home as well. Outta curiousity, are you set on building your dream home, or have you considered waiting until march or april to list your place and then snap up one of the new homes already there and maybe waiting another year or so to take the plunge and build? It would get you into the community that you want to be in, but save you the anxiety of signing on the dotted line now and hoping that the market starts to recover when you need it to...