3 Reasons Why Buying a House Now Will Beat the Rush in 2025
If you’ve been thinking about buying a home in the lower mainland BC, you might be wondering, “Should I buy a house now or wait?” It’s a common question, especially with recent headlines about the real estate market. As your trusted mortgage broker, I’m here to help you make sense of it all and make the best decision for your future.
The truth is, now is a fantastic time to buy a home, and here’s why:
1. There’s Lots of Inventory Right Now
Right now, the real estate market in the lower mainland is flush with inventory. That means there are more homes available for buyers to choose from. When inventory is high, sellers are more motivated to negotiate, which can work in your favor. You might find that dream home at a price that fits your budget.
But here’s the catch: this won’t last forever. According to a recent Royal LePage survey, home prices are expected to rise in all markets across Canada in 2025. This means the current abundance of options could shrink as demand picks up again, leading to higher prices. Waiting too long could mean fewer choices and more competition for the homes you love.
2. Prices Are Set to Increase in 2025
The same Royal LePage survey notes that real estate prices across Canada are predicted to rise steadily starting in 2025. That includes Vancouver, where the market has always been competitive due to its desirability and limited land for new developments. Source: https://ca.finance.yahoo.com/news/canada-real-estate-home-prices-expected-to-rise-in-all-markets-next-year-royal-lepage-survey-says-140922815.html
What does this mean for you? Buying now could save you tens of thousands of dollars in the long run. Think of it like this: a home priced at $800,000 today could cost significantly more next year. And with rising prices, your mortgage payments may also increase, making it harder to afford your ideal home.
3. Interest Rates: Will Rates Go Lower?
Mortgage interest rates have been a hot topic this year. While many buyers hope for rates to drop, the reality is that predicting rate changes is tricky. Waiting for a lower rate could backfire if home prices rise faster than rates drop.
Even if rates do decrease slightly in the coming years, the increase in real estate prices could overshadow any savings. By acting now, you can lock in a competitive loan for a mortgage at today’s rates and avoid paying more for your home later.
Why Work With a Mortgage Broker?
Buying a home is one of the biggest financial decisions you’ll make, and finding the right loan for a mortgage is critical. This is where working with the best mortgage broker—someone like me, Lyndsy Pahl—can make all the difference.
At Mortgage With Lyndsy, I specialize in helping first-time buyers and seasoned homeowners navigate the mortgage and home loan process. I’ll guide you every step of the way, from finding the best rates to securing a mortgage that suits your needs. My goal is to make your home-buying journey smooth, stress-free, and rewarding.
Should I Buy a House Now? The Bottom Line
If you’re still wondering, “Should I buy a house now?”, here’s the bottom line:
- Today’s market offers great opportunities with more inventory and competitive prices.
- Waiting could cost you more in 2025, when prices are expected to climb.
- Interest rates are uncertain, but locking in a rate now can provide security and savings.
Take Action Today!
Don’t wait for the market to become even more competitive. Now is the time to act and beat the rush!
As your trusted mortgage broker, I’m here to answer all your questions about mortgages, interest rates, and home buying. Together, we’ll find the best solution for your needs.
Let’s Talk Mortgages!
Contact me, Lyndsy Pahl, at Mortgage With Lyndsy today to discuss your options. Whether you’re ready to start your home-buying journey or just have questions, I’m here to help. Book a call in my calendar https://mortgagewithlyndsy.com/contact/
Let’s make your dream home a reality—before the rush begins.