Are you feeling uncertain about moving forward with your dream of home ownership during this unprecedented time? We are here to help you.

This is not the first time our McGarr Realty team has worked with buyers to navigate challenges like this. Our knowledgeable REALTORS® are closely watching the real estate market and tracking the changes to our economy. While we can’t predict the numbers, we can work with buyers to determine the best strategies to achieve their goal of owning a home.

The Niagara region that has weathered economic changes and come out strong. For families who purchased a home ten years ago, they’ve seen a significant increase in their home values. The Niagara region has experienced unprecedented growth during this time. Even the boom of housing developments hasn’t curbed the demand for homes. With its close proximity to Toronto, the Niagara region is a prime residential area that balances urban life with a beautiful landscape that’s all its own.

The average sale price of a home in the communities of Welland, St. Catharines, and Niagara-on-the-Lake has steadily increased over the last decade. Even the short-term gains are impressive. In comparison to February 2019, housing prices in Niagara have risen by 10.5 percent. As home values increase, deciding to purchase a home now may keep you from being locked out of the market in the future. And with interest rates currently below 2.5% at the big banks, it’s a good time to make your move.

We will add that, while it’s too early to determine what long-term effects the current COVID-19 situation will have on the real estate market, the value of owning a home goes beyond just these numbers. Attain the latest updates relating to the impact of COVID-19 on Niagara Real Estate here. The personal gains of homeownership make it a rewarding investment to pursue, even with fluctuations in the Canadian economy.

Homeownership means you can start building equity in your name. No more owing money to a landlord with little to show for it. Every mortgage payment you make increases the amount of home equity you have. This investment can help improve your finances and help secure your financial future.

It also gives you the freedom to have a home that’s truly yours. Many renters are limited in what they can do to make their living arrangements feel like theirs. Some landlords don’t even allow their renters to paint the walls! Unlike renting, purchasing a house means you can finally settle into a place that feels like home. You can design and renovate the house in ways that are personal and functional for you. From a new kitchen that is custom-designed to a backyard with landscaping, purchasing a house is an experience worth pursuing.

We don’t take it lightly that purchasing a home is a big decision and we are here to help you! It's never too late to make your first home purchase and start building equity of your own. Connect with our team of experienced REALTORS® today to explore houses for sale in St. Catharines and the Niagara area.


Call our office at 905-687-9229 in St. Catharines, or 905-468-9229 in Niagara-on-the-Lake. Or send us a message on our contact page, HERE.

 

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