The Niagara Region continues to see house prices increase year over year. First time home buyers should be looking to purchase sooner than later, as the prices for homes are rising faster than what they can possibly save up for larger down payments on a home. The Niagara boom is only at its starting point and overall market projections are projected to far surpass any increases that we have seen over the 2016-2017 years. First time home buyers should be looking at their first purchase as an investment for their future, as prices will not be dropping any point soon. Major considerations for investors and home buyers alike for buying in Niagara include the current $ per sqft prices vs across the nation, future full time GO Train operations in St.Catharines and Niagara Falls, and the rising employment across the region.
Investors that have followed my advice over the last 6 years have enjoyed enormous returns on their investment and continue to purchase year over year. With average prices increasing at such a rapid rate, investors are refinancing their properties and leveraging equity to acquire more units.
Keep in mind – not only are prices of homes increasing, but the market rate for rents as well. This should be a great opportunity for renters out there to transition into purchasing a home rather than waiting for prices to lower in the future. In most cases, it is cheaper for families to own their own home versus renting from a Landlord.
Whether you are a first time home buyer or looking to get into the real estate investment world, call me and let’s discuss your options.
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