This Wednesday morning, we look at 5 of the main economic reasons why you should be a home owner this month. There are plenty of reasons of course, but we chose the top 5 things we view as the most important.
Note: Remember, you can access all our available Homes For Sale in Edmonton through our Edmonton MLS Listings page.
- THE POWER OF LEVERAGE. There are currently a wide array of mortgage companies competing for your business. You can take advantage of this situation by leveraging your Edmonton home with the lowest available interest rate. You can check out all updated here: Edmonton Mortgage Updates
- PAYING TO OWN > PAYING TO RENT. We have to reiterate it here, instead of renting your Edmonton home, why not own it? You’ll pay the same or ALMOST the same amount of money, but instead of giving it to the landlord, you’ll be giving it to the mortgage lender and at the end of the day, you’ll own the place.
- FORCED SAVING. When you decide to own an Edmonton home, you’ll have the benefit of forcing yourself to save money. It’s all about the mental game my friend.
- TAX BENEFITS. Taxes, been here since forever. When you finally decide to buy that Edmonton home today, you’ll avail yourself of some glorious tax benefits.
For first time home buyers, the Canadian federal government has the Home Buyer’s Plan.
According to the Canada Revenue Agency website, “The Home Buyers' Plan (HBP) is a program that allows you to withdraw up to $25,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability.”
You can check the complete details here.
Here’s another resource you might find useful: A Guide to Property Tax Exemptions in Alberta
- WEAPON AGAINST INFLATION. You can hedge your risk of having your wealth being swallowed by the Canadian inflation by buying an Edmonton home. Yes! Edmonton home prices have a proven track record of providing higher market values than the rate of inflation.
We hope with this 5 simple economic reasons, you’ll finally make an informed decision and own that Edmonton dream home. Call us today to get you started. We’ll be happy to assist to you in any way possible.
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