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HOME BUYING DELAYS CAN COST YOU MONEY

Did you know that stalling your home buying decision can have a negative impact on your finances?

Today, Team Leading Edge made the infographic below to give you an idea of how you're losing money.

But before that, take a look at this chart. According to tradaingeconomics.com: 

Consumer prices in Canada increased 1.3 percent year-on-year in July of 2016, slowing from a 1.5 percent rise in the previous two months and in line with market expectations. It is the lowest figure in four months as gasoline prices fell while food inflation accelerated. Inflation Rate in Canada averaged 3.17 percent from 1915 until 2016, reaching an all time high of 21.60 percent in June of 1920 and a record low of -17.80 percent in June of 1921. Inflation Rate in Canada is reported by the Statistics Canada.


source: tradingeconomics.com

The prices of goods are increasing (it slowed down, sure, but it is still on the rise) and so are the mortgage interest rates! The message that we want to get across is that, if you don't act now, you might miss out on the opportunity to get better deals, especially on mortgage rates.

Edmonton First Time Home Buyers

Edmonton Home Buying

THE RIGHT OPTION: ACT IMMEDIATELY

Reduced Interest Rates

30-Year Amortization
Rate: 3.25%
Edmonton Home Value: $300,000

$60,000 Down Payment
$1,044 x 360 Months

=$375,842

THE BAD OPTION: DELAY THE PURCHASE

Reduced Home Value

30-Year Amortization
Rate: 5%
Edmonton Home Value: $289,000

$57,800 Down Payment
$1,242 x 360 Months

=$447,120

YOU LOSE $71,278 JUST BY DELAYING

For more from Team Leading Edge, follow the team on Twitter at @teamleadingedge. Make sure to subscribe to Team Leading Edge to get newsletters on the Edmonton Real Estate market.

Note: Remember, you can access all our available Homes For Sale in Edmonton through our Edmonton MLS Listings page.

Homes For Sale Edmonton

Edmonton Home Sellers

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1 Response to "HOME BUYING DELAYS CAN COST YOU MONEY"

Serge Bourgoin wrote: It is time in the market that is important... not timing.

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