Buying a house? You might want to think twice.

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About two weeks ago, I got a notice from my landlord that she was selling her house and I needed to find a new place to live. I had been thinking about buying my own place for a while now and started to look around for places. I quickly realized how ridiculously high the real estate around Ottawa was (let’s not even start talking about Toronto or Vancouver!).

Think about this: when would it be more advantageous for you to go fill up your vehicle and gas cans: when the prices of gas are at an all-time low, or at an all-time high? A lot of first time investors tend to invest in something when the value of it is high when they should be waiting for the next “all-time low”. If we take a look at the current Canadian housing market, the national average price of a house went up 8.2 percent this year, compared with a year ago. That’s a record high. So maybe the question I should be asking myself isn’t “should I invest in real estate?” –  It’s “when should I invest in real estate”?

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