It is the question Canadian buyers are most torn about right now.
An RBC survey found that many Canadians feel it has become genuinely hard to judge when the “right time” to buy is.
On one side: prices are still high, payments remain demanding even with rates off their peak, and economic uncertainty is making people cautious. On the other: prices have already adjusted in some areas, buyers worry the window will close, and waiting longer may simply mean more competition later.
Which is why the thing that actually matters is not calling the bottom. It is whether you are ready.
Three questions worth answering before you buy: Do you know your borrowing capacity? Have you run the payment stress test? Does the household have a cash-flow buffer?
Buying is not a bet on the bottom — it is planning. If you expect to buy, renew or refinance in the next year or two, the lending assessment and the funding plan should start now.
The video is in Chinese.
Originally published on Guaranti’s YouTube channel.