Buying Your First Home in Canada 2024 | Home Prices Vs Interest Rates

Buying Your First Home in Canada 2024 | Home Prices Vs Interest Rates

►► First Time Home Buyers have a TON of leverage in the Toronto Real Estate Market in 2024. There are so many first time home buyer incentives from the Government of Canada, especially with the new mortgage change announcements in 2024. There's also been a lot of inventory and options for first time home buyers to choose from AND home buyers in the Toronto Real Estate Market have been able to put CONDITIONS on their offers! First time home buyers have been taking advantage of the favourable buyer's market conditions in 2024. With the general fear surrounding the market's unknowns, there's also next to zero competition out there for buyers. Interest Rates are projected to drop fast and furious for the rest of 2024 and heading into 2025.

There are so many favourable factors for first time home buyers right now, but surprisingly some would-be buyers are still on the fence because they are still betting on home prices coming down even further or they think the rates are still too high to buy. What a lot of first time home buyers haven't actually realized is the truth between the relationship of home prices vs interest rates and why the best time to act is now with the highly favourable buyer's market conditions.

In this episode of PPTV, I'll be doing the math for first time home buyers to show you why buying a home now with the current lowered home prices and slightly higher interest rates make sense vs waiting for interest rates to fall some more. Be sure you tune in to this episode and the next ones to come in this First Time Home Buyer Series!

2:31 - Why First-Time Home Buyers have the Power Now
6:02 - Home Prices Vs Interest Rates
8:31 - Real Life Example
9:38 - Timing the Market
10:51 - The Real Cost of Your First Home
12:16 - The Benefit of Low Rates and High Prices
13:52 - The Truth about Buying Your First Home Now

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[ndiouma]

When real estate agents have to come on YouTube, build charts and tables to explain why you should buy now that is the good indicator that the market is in trouble. Guys and Girls please do your research and be careful about real estate gurus.

[jeffotoole]

Pump pump pump. If you’re looking for good real estate advice don’t come here ask a good Golden Retriever. This guy said a year ago that buying pre sale condos at $1600 a foot an inflation hedge. How did that pan out? Not good more like financial ruin.

[TheHoneyzap]

Am a real estate enthusiast and my husband and i did end up investing in 3 properties but this whole cycle is a lesson for me now. We will be careful in timing our investments in real estate in the future. And your statement will stick to me forever, Date the rate and marry the price😅. Thank you for the knowledge.

[ravaMuftahutginov]

!!I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks or Crypto will be appreciated.