It’s A Buyers Market
Hello from CottageClub,
Welcome to our first blog of the new year! Today’s post talks about why now is a great time to buy a recreational property in Alberta.
We hope you enjoy the read and remember to contact us if you have any questions.
Until next time,
The CottageClub Team
It’s A Buyers Market
Right now is the perfect time to buy a recreational property in Alberta because it’s a buyer’s market. This means, as a buyer, you are likely to have a lot more options and opportunities available to you when it comes to buying your new recreational home – advantages that may make the buying process easier and more productive. According to James Cuddy, senior analyst for CMHC, “where we are now is in buyer’s market territory”. Good supply and reasonable interest rates help to create a great opportunity for getting the recreational property you really want.
Also, in a recent finding from CMHC, Alberta experienced a positive net migration for the first half of 2018 and the trend is expected to continue. According to CREB, a net migration of 11,588 people in Calgary’s 2018 civic census was reported, well above the original estimate of under 2,000 people. More people are moving to Calgary, which is good news as they put down roots and look to buy properties. However, when the supply goes down, the market will start shifting back into a seller’s market. If you purchase your property when the demand is lower, you can get ahead before prices start to go up again.
Another good reason to consider purchasing your recreational property now, is that winter is considered to be Alberta’s shoulder season in the recreational market. In the winter there are fewer buyers looking for these properties. In the spring and summer, there is no shortage of potential buyers meaning that you face more competition. More potential customers increases the possibility of competing bids, inventory shortages and price increases. During the shoulder season, you’re likely to benefit from competitive pricing, more sales attention and inventory selection so you can find the cottage you really want.
If you would like to take advantage of this fantastic buyer’s market in Alberta, CottageClub has some terrific options for you. Feel free to visit our Welcome Centre, Browse our Lot Map or Quick Possession Cottages. You can also Contact Us Here and we will be happy to answer any questions you may have.
Credits - CREB: Jan 2019 https://www.creb.com/, Calgary Herald Nov 2108 https://calgaryherald.com/life/homes/new-homes/calgary-remains-a-buyers-market
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