Great Opportunity for First time buyers
Are you planning to buy your first home? Now is a great time to buy if you have never owned before. With prices falling, buyer’s market has set in in British Columbia.
More Choice
With more homes on the market, you can pick and choose from a variety of homes. With less competition, you can take more time searching for the right place. You don’t have to be in a rush to decide, lest you loose to a higher price offer.
Better Prices
The homes are more reasonably priced. Moreover, sellers spend extra money making sure their homes are in tip-top shape. You can move without the hassle or expense of repairs or improvements.
Negotiation Advantage
Take advantage of a buyer’s market. Most sellers are highly motivated to sell. You, as a first time buyer, are in a better position to negotiate price reductions.
Extra Incentives
Many sellers are now offering extra incentives and are more flexible on prices and terms. And in most instances, offer assistance with either down-payments or closing costs. Mortgage money is also readily available from lots of sources with all kinds of incentives like cash back, longer terms and lower payments.
First Time Buyer Programs
There are several programs that help first time buyers get into the housing market. The BC provincial government’s First Time Home Buyer’s Program offers Property Transfer Tax Exemption for First-Time Buyers. Visit the website to check if you qualify. Canadian Mortgage and Housing Corporation’s (CMHC) too offers a 5% down payment program for first-time buyers. For details, visit the CHMC website.
It makes perfect sense to buy your first home NOW. Take advantage of the buyer’s market and low interest rates. And buy your dream home.