Are You Ready to Purchase a Home Right Now?

For most folks purchasing a home is one of the biggest purchases they will make in their entire life. It can be a fun and exciting adventure but it also can become a daunting or even stressful purchase. It is a huge choice and there are many things that prospective buyers should consider before owning their own home.Are You Ready to Purchase a Home Right Now

With interest rates continuing to stay pretty low and qualifications for mortgage approval easing a little bit, it could be tempting to ask yourself if you should invest in a home right now. The answer to this question may not be as simple as you think.

Here are some things to consider when wondering if you should buy a home right now.

Consider the Big Picture

Purchasing a home is a large commitment. Once it is made, it can be broken, but not easily. Before making any large commitment, it is wise to determine your ability to stick to that commitment.

Ask yourself what the big all-encompassing picture of your life looks like right now and how taking on the commitment of homeownership might fit into it. Think about aspects like your relationship status, if you have children- how they would be impacted, what it would look like for your pets, how your job might be affected, and so on.

Another big question to ask is where do you think or hope life will take you in the next five years? It is advised that if you do not plan to stay put for at least five years, purchasing a home is most likely not the best choice.

Your Financials

Purchasing a home is more than just being able to afford a monthly mortgage payment and having enough money in the bank for the down payment requirement on that mortgage

Take some time to ensure that you really have the means to afford homeownership, the other costs of homeownership should be calculated. These are items like the cost of routine maintenance, utilities, any HOA dues, having an emergency fund account for unexpected issues, and how all of the items add up along with your current monetary obligations like gas, food, and any other current debts.

Are You Ready for the Extra Work?

Making the transition from renter to owner means that there will be more work required of you to keep up the property. With this comes added time, effort, and cost. It is a good idea to ask yourself if you are ready to take on these extra things or to pay someone else to.

The financial piece of owning a home is just a small portion of actual homeownership. When considering if this is the right time for you personally to own a home, it is a good idea to do all of your homework and thoroughly exhaust every question possible before committing to what may be the largest purchase you ever make.

For more information on purchasing a home in Canmore and surrounding areas, please contact us at any time.

More Advice for Buyers

Check out the Newest Listings in the Canmore Area

15 Properties
Page 1 of 2
$1,075,000
Neighbourhood: Hospital Hill
3
Beds
2F11/2
Baths
1,893
Sq.Ft.
1996
Year Built
1
Day on Site
A1259339
MLS®
Welcome to 125 Rundle Crescent, one of a small and inviting collection of 6 townhomes Located on a quiet horseshoe-shaped street; offering great walkability to the downtown shops, cafes, and the Bow...
$799,000
Neighbourhood: Bow Valley Trail
2
Beds
2
Baths
869
Sq.Ft.
2003
Year Built
1
Day on Site
A1259223
MLS®
Great opportunity to own a piece of the Rockies. Located in a quiet corner of the complex, this beautifully appointed 2
bedroom and 2 bath home in the heart of Canmore is the perfect home for any...
$779,886
Neighbourhood: Teepee Town
2
Beds
2
Baths
887
Sq.Ft.
2023
Year Built
2
Days on Site
A1259281
MLS®
This fantastic unit offers two full bedrooms and a large flex room at Golden Ridge, Canmore's newest luxury development, designed and built with high end luxury mountain living in mind. There are 38...
$582,750
Neighbourhood: Teepee Town
1
Beds
2
Baths
612
Sq.Ft.
2023
Year Built
2
Days on Site
A1259286
MLS®
This executive ground floor unit is located in Golden Ridge, Canmore's newest luxury development, designed and built with high end luxury mountain living in mind. There are 38 units of boutique...
$925,000
Neighbourhood: South Canmore
3
Beds
1F11/2
Baths
578
Sq.Ft.
1979
Year Built
2
Days on Site
A2003233
MLS®
With ample outdoor living, a fenced yard, and detached garage, this charming three bedroom duplex in South Canmore is the ideal mountain home. With an open concept upper living space that leads out...
4
Beds
3
Baths
2,315
Sq.Ft.
2000
Year Built
2
Days on Site
A1259327
MLS®
This home is situated in one of the best locations in the neighborhood with forest to the front and rear of the property. You will love the breathtaking views through the expansive windows of Rundle,...
$1,291,500
Neighbourhood: Teepee Town
4
Beds
3
Baths
1,646
Sq.Ft.
2023
Year Built
3
Days on Site
A1258813
MLS®
A unique chance to acquire the last end unit Townhouses at Golden Ridge, Canmore's newest luxury development. Designed and built with high end luxury mountain living in mind. This Townhouse offers...
$868,000
Neighbourhood: Three Sisters
4
Beds
2F11/2
Baths
1,453
Sq.Ft.
2004
Year Built
3
Days on Site
A1259207
MLS®
Located in a peaceful corner of the Three Sisters, close to schools, with an easy commute to Calgary, you ll find this 4 bed, 2.5 bath w/ attached garage stand-alone home. In an area where great...
4
Beds
2F11/2
Baths
1,195
Sq.Ft.
2023
Year Built
3
Days on Site
A1259224
MLS®
Introducing the Bow Valley's next resort-style townhome development, Skyridge at Harvie Heights. Conveniently located just west of Canmore, enroute to Banff, sits the future 54 unit hotel-condo...
$899,000
Neighbourhood: Riverstone
2
Beds
2
Baths
828
Sq.Ft.
1993
Year Built
4
Days on Site
A2003276
MLS®
Fabulous mountain views from this delightful walk-out bungalow. This delightful 2 bedroom bungalow with walkout lower level has seen the traditional floorplan thoughtfully re-purposed to maximize the...
$2,142,000
Neighbourhood: Three Sisters
5
Beds
3F11/2
Baths
2,089
Sq.Ft.
2022
Year Built
4
Days on Site
A2003213
MLS®
Welcome to one of the last luxury builds available in the highly sought after Three Sisters Mountain Village. This 5 bedroom 4 bathroom home expands across 3 levels and over 2,800SF. European Oak...
$3,400,000
Neighbourhood: Homesteads
4
Beds
4
Baths
3,017
Sq.Ft.
2023
Year Built
5
Days on Site
A2002918
MLS®
New Build Falcon Lane Amazing Views in Every Direction
One of Canmore's most sought after locations, Falcon Lane. A 14 foot folding glass wall facing SW completely opens up to the sun and views!...

Post a Comment