Hi CDs,
I have decided to buy home worth 300K, eventhough there are so many posts on CD to not invest in RE. Me and my spouse indirectly got confirmation from workplace that our JOB is safe. I ve got lettler form landlord that due to property tax hike, they gonna increase my rent from 931 to 973 per month. I have satrted from 825 per month. The second reason to this decision, the mortgage rate are too low, I could get fix 5 yr at rate of 4%.
So, I have decided to buy by the end of this year.
Mattamy will be putting their new homes (castlemore crossing 2) this year. I am not sure what be the hidden costs are there. There are so many buyers, so sales rep do not answer all the question. I am planning ot buy 290K house but scared that, if cost reaches to 330K.
Can anybody throw some light?
Thanks
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એક જ ટીપામાં હો જાણે સાત સમંદર,
એવા ઝંઝાવાત હજુ હૈયાની અંદર
Congrats love_n_peace!
If you have all the chips on your side, this is a good decision to buy a house. Interest rates cannot get any better and the houses prices are quite low at some places.
Personally, i am against buying over priced houses. But if you see a good deal…snatch it.
In the end, it is simply impractical to keep renting all through your life.
Cheers,
Seenappa.
You might also wanna look at great Gulf homes, they are also building homes in Castlemore crossing, below is the link:
http://www.greatgulfhomes.com/neighbourhood-details.php?id=43
I went there 4 weeks back and because of rush of people couldn't get inside (big line, approx 90 minutes wait), so after two days, i again went back and all the houses were gone....I was told that on April 4th they will be launching more homes, so on 4th April i went there at 8:30 AM (office opens at 11:00) and to my amazement there were again 50 odd people ahead of me. People came at 6 and were sitting in cars and waiting for office to open.
Another surprise was that all house prices increased by $12,000 and they reduced the free upgrade from $5k to $3k.
Somehow these houses are selling like hot cakes in this cold market and i dont understand why ..?
Location: carl sagan's universe
Posted on: 06-04-09 09:01:15
Yeah - surprising to me as well, reading that the number of sales is going down or maybe that was the bigger than usual lull of winter and now that Spring is here , people are getting influenced by the "mortgage rates have never been so cheap" line and going to buy.
I go to certain NEW home areas to hand out my cards in the hope of getting mortgages from people who want to buy and am surprised to see the line-ups!
However it is good for me, as I get a lot of calls for mortgages.
As a matter of fact in just fifteen days , I ran through over 200 calling cards and have to order new ones!
It is totally mind- boggling to me.
I agree, i guess the rates are the main attraction, one of my co-worker bought home over the weekend and he got "3.35% 5 years Fixed", which is amazing.
He got this rate from Sutton group and he had to pay off his car to get this special rate....
But anyways 3.35% fixed for 5 years is looking very attractive...
Quote:
Originally posted by kabutar12
You might also wanna look at great Gulf homes, they are also building homes in Castlemore crossing, below is the link:
http://www.greatgulfhomes.com/neighbourhood-details.php?id=43
I went there 4 weeks back and because of rush of people couldn't get inside (big line, approx 90 minutes wait), so after two days, i again went back and all the houses were gone....I was told that on April 4th they will be launching more homes, so on 4th April i went there at 8:30 AM (office opens at 11:00) and to my amazement there were again 50 odd people ahead of me. People came at 6 and were sitting in cars and waiting for office to open.
Another surprise was that all house prices increased by $12,000 and they reduced the free upgrade from $5k to $3k.
Somehow these houses are selling like hot cakes in this cold market and i dont understand why ..?
Why don't we ask Rahul Singh?
Rahul dear, are you there?
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Sanjeev Manocha, MBA
Real Estate Sales Representative
Accredited Buyer Representative (ABR)
Re/Max West Realty Inc, Brokerage
96, Rexdale Blvd., Toronto
Mobile: 416-843-7600
Office: 416-745-2300
http://www.manocharealty.com" rel="nofollow">LINK
But Sanjeevm i guess this project is an exception, i don't think used house sales are any thing near it.
I also went to few other builders in Brampton and they were not busy and were offering discounts over original price + free upgrades..
There is something special about the Great Gulf project and its an exception in this market and i am not sure what it is....maybe the location.
