Quote:
Originally Posted by AFireInside
the inventory on houses is growing.
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Well actually the inventory has dropped more than 4,000 since May this year from 13,900 (way to high for Calgary) to 9,777 at the current time, as a lot of people have given up trying to sell by either taken their place off the market or renting them out. Incinerator makes great points when trying to sell your place, as currently it is a tough market to sell, but there's lots out there when buying.
That said, I agree with most of what everyone else said, sell your place first, as there's to much stress in building a place then not being able to sell your current house before you move into your new one. I know it sucks to move twice but I think in this case it's worth it. The way the market was previously you could get away with that, as most homes were guaranteed to sell but with the worldwide economic uncertainty you have to be more cautious. Now is a great time to upgrade as you should save more money upgrading, but as well Hulse is right if prices drop you lose more on the more expensive house. It's all a gamble and if you're able to afford the newer place without stressing about losing your job then go for it, if prices do drop well you're still locked in at a payment you can afford. If at a minimum prices remain stable the you picked a good time to do it.