Buying A Home

It's 2026 and buying a home has never been easier, however the decision to buy a home is still just as intimidating as it was for your parents or grand-parents. Let me give you one good reason to buy a home in the Ottawa area, where we enjoy the most consistent real estate market in North America!!!  Read This: In 1956 the Ottawa Real Estate Board began to record the annual average sale price of residential real estate (home sales), since 1956 the average home sale price has increased by 4000%. In the 70 years of recording average home sale prices the total incidents of negative growth was 15%. To test my story just ask Mom and Dad or Grandma or Grandpa how much they paid for their first house. If your grandparents are still in their first home, say a Campeau built home they bought in the late 1950's and they paid $15,000.-$16,000., that home is selling today between $600,000. and $750,000., depending on the home improvements made over time. An increase of 40 X's the purchase price!!!! Their home acted as a quiet investment fund growing at about $11,000. a year for 50 or 60 years. Ask them what their income was in 1959 and how much down payment they had to put down.......hmmm!

I started by stating that buying a home has never been easier, actually it's no more complicated than booking a vacation.... a little discussion about where to and when and how much! When traveling you agree neither of you is going to fly the plane or advise the pilots while they are flying the plane. Similarly you are going to select a real estate agent to help you navigate the home buying process and let them navigate.....they will will help you create a home buying profile, what, where, why, when and how much....then create an agreeable budget, ensure you obtain pre-approved financing, understand all of the costs associated with your purchase, inspections, legal fees, taxes, insurance etc.....and make you aware that today 40% of your monthly mortgage payment is actually a principal payment back to yourself..... true, more on that later!!!

Your real estate agent will help you find a home that meets your requirements, referee when necessary so you agreeably compromise when needed, protect your interests while negotiating an agreement to purchase and ensure you understand the mess you are getting into and why it is worth it! Just ask your grand parents!!!

Safe travels and happy house hunting, if you need a knowledgeable guide, I or one of my team would be pleased to assist you. John Coburn, Broker of Record