{"id":12273,"date":"2019-04-09T11:11:14","date_gmt":"2019-04-09T18:11:14","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12273"},"modified":"2019-04-09T11:27:53","modified_gmt":"2019-04-09T18:27:53","slug":"it-doesnt-pay-to-wait-to-buy-real-estate","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/04\/it-doesnt-pay-to-wait-to-buy-real-estate\/","title":{"rendered":"It Doesn&#8217;t Pay to Wait to Buy Real Estate"},"content":{"rendered":"<p style=\"text-align: justify;\">With home sales in major cities such as Metro Vancouver way down, a new poll has asked Canadians whether they are waiting to buy a home<\/p>\n<p style=\"text-align: justify;\">\u2013 and why.<\/p>\n<p style=\"text-align: justify;\">More than half (56%) of respondents polled by Ipsos for the annual RBC Home Ownership Poll said they thought it would be better to wait a year or more before buying a home.<\/p>\n<p style=\"text-align: justify;\">Of those, 54% say it is because they expect home prices to fall over the next year \u2013 a number that rises to 68% of British Columbians waiting to buy. In addition, 47% of Canadians waiting to buy cite uncertainty in the market as their reason.<\/p>\n<p style=\"text-align: justify;\">Some 44% of poll respondents who are waiting to buy a home say they would potentially wait for two years or longer. This figure rises among 18-34-year-olds to 55%.<\/p>\n<p style=\"text-align: justify;\">However, despite the wait-and-see approach, the Canadians polled largely have faith in real estate as a good investment and a better financial decision than renting. Just over eight out of 10 Canadians said a home or condominium purchase is still a good investment, while two-thirds (66%) of Canadians said they feel it makes more sense to buy than rent.<\/p>\n<p style=\"text-align: justify;\">The poll also found that Canadians are well positioned to handle a potential downturn in housing prices (71%) or an increase in interest rates (63%).<\/p>\n<p style=\"text-align: justify;\">And although many Canadians are waiting to buy a home until they see where the market goes, more than half of first-time homebuyer respondents (56%) said they may buy sooner than later because of fears of future interest rate hikes.<\/p>\n<p style=\"text-align: justify;\">The poll also looked at other homebuyer trends, and found that buying a home with a partner or spouse has been steadily declining (42% versus 49% in 2017), while purchasing a home alone is increasing (32% versus 29% in 2017).<\/p>\n<p style=\"text-align: justify;\">Nicole Wells, vice-president of Home Equity Financing at RBC, said, \u201dWe\u2019re seeing a fundamental contrast in who&#8217;s at the buying table. There is a surge in confident, in-control solo home buyers and, on the polar opposite end, those who are saying they can&#8217;t do it alone and need the assistance of family.&#8221;<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2019\/04\/more-half-canadians-would-wait-year-buy-home-poll\" target=\"_blank\" rel=\"noopener noreferrer\">More Than Half of Canadians Would Wait A Year to Buy A Home<\/a> by Joannah Connolly | Glacier Media Real Estate | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With home sales in major cities such as Metro Vancouver way down, a new poll has asked Canadians whether they are waiting to buy a home \u2013 and why. More &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/it-doesnt-pay-to-wait-to-buy-real-estate\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-12273","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>It Doesn&#039;t Pay to Wait to Buy Real Estate &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/it-doesnt-pay-to-wait-to-buy-real-estate\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"It Doesn&#039;t Pay to Wait to Buy Real Estate &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"With home sales in major cities such as Metro Vancouver way down, a new poll has asked Canadians whether they are waiting to buy a home \u2013 and why. 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