Buying Ottawa Real Estate
Last updated on May 11th, 2021 at 01:13 pm
Buying real estate can be a valuable investment. Unless you are living somewhere for free, you are paying rent-which we all know is just money downthe drain. So if you are able to be approved for a mortgage, then the smartest thing you can do is put that money towards home ownership.
Some of you may feel that some of the current world economics make that an impossible goal; however, if you are dedicated to keeping a great credit score, or even just dedicate the next 6 months to improving upon the score you have, you will be able to find extremely reasonable mortgage rates that will enable you to afford a home of your own.
Homes For Sale
If you know you will be moving in 2 years, then a Variable Rate Mortgage makes the most sense for you, as you will be able to get a very low introductory interest rate and low payment until you move. If you plan to be staying put for a long time, then you will want an fixed rate mortgage. There are also various other types of mortgage loan contracts and deals that can be set up between you and your lender. To learn more, contact your chosen lender or simply contact me, your expert realtor, to find out more.
What is the point of buying if you’ll be moving in 2 years? For one, you get equity out of the home, and will most often be able to sell it for at least a little more than you bought it for, giving you more to put down on your next home purchase. Also, having been a home owner gives your credit score a huge boost and opens you up to better fixed mortgage rates on your next home.
Search Ottawa Real Estate Listings
Ready to quit renting and start owning? Begin by browsing Ottawa area homes for sale, and contact RE/MAX Ottawa, your expert real estate agents, for answers to any and all questions you have about the Ottawa area and real estate.
Until next time,