The cost of not buying a home today
THE REAL COST OF NOT BUYING A HOUSE TODAY…
1. Historically the longer you wait... the higher the price. As evidenced by the CMHC cost index for the past 25 years.
2. There are 2 components in purchasing a home:
1) Cost of the property
2) Cost of the money
Both of these are commodities. You of course wish to purchase both at the best
If interest rates go back to 5% this is historically still very low rates. Please see the difference between 5% vs. 3.29% = 1.71% difference.
On a $400,000 mortgage if you wait to purchase, even if prices do NOT go up, the interest difference of 5% vs. 3.29% over 25 years is $111,900.00.
You just paid $112,000 more for the same house.
This is not my opinion these are facts.
Is there really a good reason to wait?
Please contact me any time for further information.
DOINA BIOLAN B.Comm
TMG THE MORTGAGE GROUP
103,15566 McIvor Blvd SE
Calgary , AB , T2Z 4Y2
Fax: 403-776-4723 Email: firstname.lastname@example.org