Most potential homeowners feel the best time to purchase a home is during the spring and summer months. This is due to the fact that experts on the Home Garden and Television network (HGTV) state that is when the peak season to buy a home is. However, this creates an influx in buyers since everyone is waiting until then to make their purchase and to apply for an Alberta mortgage. This means that mortgage rates have risen and there is an increase in competition for homes.
So, to avoid looking for homes in the spring and summer months, consider purchasing your home now, this winter. By working with a mortgage broker in Alberta, you will receive low rates on your home loan and can take your time viewing whichever homes you are interested in.
To help you get started in the home buying process, your local broker, Gert Martens with Dominion Lending Centres, has listed the most recent market update for Grande Prairie and Surrounding Areas.
Grande Prairie and Surrounding Areas
In regards to Zolo.ca, Alberta has approximately 4.1 million inhabitants and this region spreads over 642 kilometers. Grande Prairie is among one of the more popular cities in this area and there are currently 759 different property types available for purchase.
In 2018, the Grande Prairie region had a strong year for residential sales. This is mainly due to the increase in production from the oil and gas companies. Experts are predicting another strong year for the area, which means housing prices are expected to increase. Therefore, if you are considering applying for an Alberta mortgage and would like to purchase a home in Grande Prairie, it would be in your best interest to do so now before the rates get even higher.
As for the surrounding areas, such as in Peace River, there are currently 145 different properties for sale and 100 of those properties are single, detached homes. Please reach out to your local Alberta mortgage broker for more details.
If you would like to receive more information on the market update for the Grande Prairie and surrounding areas, please contact Gert Martens with Dominion Lending Centres at 780-933-0109.