Housing Trends: Low Interest Rates Making Estate Homes an Attractive Investment
With interest rates still low and the Canadian housing market still in a general downturn, this is actually great news for anyone looking to buy estate homes in Brampton or elsewhere in the GTA (where real estate is actually red-hot!). With the price increases for homes having slowed considerably, now is the time for potential home buyers to enter the market and purchase an investment property.
Low Interest Rate Making Higher Mortgages Attractive
The Bank of Canada lowered interest rates to 0.75% in March and has held them at this rate. This move was in reaction to the decline in oil prices at the time. However, economists predict that the central bank will keep the lending rate around the same level for the time being, meaning higher mortgages are currently subject to lower rates. Essentially, the drop in interest has given the economy, as well as prospective home buyers, a chance to catch up. Home prices are expected to inflate moving forward, however, making now a good time to invest in an estate home.
The Greater Toronto Area Still Red-Hot
The housing market in the Toronto area remains one of the hottest in Canada, with home sales having gone up by 9.5% since March 2014. Moreover, there’s an increased demand for estate homes, especially to accommodate single working families looking for a larger home outside of the downtown core. This type of housing is in short supply in core of Toronto, leading many to look outside of the city for estate homes. Suburbs such as Brampton are lauded for providing fast and easy access to the downtown core thanks to their proximity to major highways and GO Transit stations. The amenities and cultural flair in these areas is also an important consideration for home buyers looking for an estate home in which to invest and enjoy.
For those searching for the perfect estate home in Brampton, Bremont Homes’ Kings Manor Estates community may be the perfect fit. With its golf course estate homes on 50’ and 60’ lots in Brampton, Kings Manor Estates offers all the luxuries and conveniences of the Toronto core without having to be in the busy downtown area. With lots to do, including arts and culture events and festivals, shopping outlets, and a prestigious golf course, Kings Manor Estates is the estate home you’re looking for.
Whether looking for an estate home for your expanding family or want to retire outside of the Toronto core, Bremont Homes’ Kings Manor Estates offers a number of lots designed to fit your needs. Visit our website to register today, before our estate homes in Brampton are all sold out!