MoneySense magazine has rated #Guelph, Ontario, as the greatest area to buy #RealEstate in Canada. Guelph had a 2.1 percent unemployment rate before the new coronavirus pandemic, and a 1.9 percent GDP, which was higher than the national average of 1.7 percent in 2019.
MoneySense said that "strong employment and excellent average yearly salaries provide Guelph #homeowners a chance to pay off their mortgage sooner." It goes on to say that Guelph's home-to-income ratio is substantially lower than that of Toronto and Vancouver, where paying off a mortgage debt takes far longer.
Buy a House in Guelph with Yes Realty Inc.!
It's a new year, and while not everyone believes in making resolutions, now is as good a time as any to assess all you have on your plate for the next year. For many people, this means purchasing a home in Guelph. Is this the year for you?
Well, if that's your hope, there's no better time than now to take stock of where you've arrived and, while you're doing it, make a few choices for the journey ahead.
You and Your #Housing Requirements!
Whether you're just getting started or have been searching for a home for a while, it's a good idea to review your criteria and make sure you're not either over-estimating your needs or neglecting some excellent possibilities.
With Guelph's high #home prices, it's difficult. Prices have risen, and obtaining a #mortgage appears to be becoming more difficult by the day. Many #investors discovered that they had less purchasing power than they had anticipated. Some assumed they'd just remain put or rent for a while longer to save money. The issue is that housing values continue to rise, putting homeownership farther out of reach.
Think about it. Homeownership may be more realistic if you're interested in extending your requirements. I've always regarded homeownership as a stepping stone. For many people, the dream home is a large detached house with plenty of space... the 10-year or longer plan. In truth, many of us had to begin on the bottom level of the housing ladder. While an entry-level townhouse or even an apartment complex may not have everything, it has served as our entry point into the market. We then pay ourselves and aim to increase value to a property so that we can eventually sell up and buy the 10-year-plan place.
If you think about it, there's a significant advantage to this scenario: the housing process becomes less sentimental and more strategic. It's more about making a smart #investment than it is about finding your "#dreamhouse." I can make this work and earn money on this property, rather than the warm-fuzzy. This is the five-year strategy... Maybe three if the stars and moon align and the purchasing price is right. Sure, relocating comes with its own set of worries and expenditures, but getting into the market makes more sense in the long term than waiting and paying #rent while house prices continue to increase.
You and your Financials!
If you're looking to purchase a home, whether it's your very first secondary home, an investment property, or something else entirely, it's a good idea to start by speaking with a mortgage professional. Reviewing your figures is the first basic stage in the process.
So, If you are ready to buy your first home this year, contact “Yes Realty Inc - Connecting People with Properties”. We have a team of professionals, who help you at every step of your journey of #buying, #selling, and #leasing your home. Also, helps you in your #pre-approved Mortgage either it is your first mortgage or second.
So, sit down with a #YesRealty Team and go through your figures again. Check your credit score and put yourself in a good financial position to make a purchase.