Simple Advice On Investing:
If you are investing: "Donīt rely on the news" to make a decision regarding real estate. It's like taking stock tips. By the time the bartender owns a million shares, it's time to sell. In the past, stockbrokers used to cruise around downtown at night to check which buildings had lights on and who was working late. Those were the companies they would invest in. You can sense the mood in Calgary when the market is changing, like a chinook before it comes in. Rely on your intuition, it's as accurate as most statistics, and far less stressful. Besides, real estate is a long term investment and the in the long term it will always go up. It's just a matter of degrees. If you want to play the cycles then sometimes it's best to just do what everyone else isnīt. That is, buy when everyone is selling and sell when everyone is buying. A contrarian approach seems to work well in the real estate market because it's cyclical. When all else fails buy location over quality and quality over price. Always remember that Real Estate, by nature, is a long term investment. On Buying your Castle
If you're buying your dream home. Don't wait for the market to go up, or down, or anywhere for that matter. Buy a good home in the best location you can afford. Get the help of a good Realtor, make sure you know how much you qualify for and then find the best home for the money. Buy the things you can't change (location) because everything else will change. When you're sure you've found it, make you're best deal. Don't get too stressed over finding that hot deal, but be certain to buy a home that fits your lifestyle. You'll inevitably fall in love with the location and besides, renovations can be fun and they'll make your home even more an extension of yourself. |
