Blog by DOINA BIOLAN B.Comm

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THE REAL COST OF NOT BUYING A HOUSE 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

    price possible.

   

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.

 

Yours truly,

 

DOINA BIOLAN  B.Comm                               

TMG THE MORTGAGE GROUP

103,15566 McIvor Blvd SE

Calgary , AB , T2Z 4Y2

Cell:  403-613-2205       

Fax:  403-776-4723       Email:  doina@mortgagegroup.com