Do I Buy or Rent in 2025?
This year, Canadians face a tough decision: buy or rent? With fluctuating housing markets, rent increase and increase in home prices, the debate hinges on financial stability, lifestyle preferences, and long-term goals. Here are three things to consider among other things and some suggestions for Monctonians.
Financial Considerations: Buying a home typically requires a substantial down payment and involves additional costs like property taxes and maintenance. Renting usually involves lower initial costs but doesn’t build equity.
Long-Term Plans: If you plan to stay in Moncton for a long time, buying might be more cost-effective as you build equity over time. If you’re unsure about your long-term plans, renting might offer more flexibility.
Market Stability: The real estate market can be unpredictable, and economic shifts can impact both rent and buying. It’s important to consider your financial stability and job security.
Real Estate Outlook in Moncton 2025
Deciding whether to rent or buy can be a big decision, especially as a first-time homebuyer. Here are some key points to consider regarding Moncton’s real estate outlook in 2025:
Market Trends: The Moncton real estate market on average may see more home price stabilization in 2025. With the easing of interest rates and possible increase in housing supply by spring, there might be more opportunities for buyers who are prepared to take advantage.
Home Prices: Home prices in Moncton are projected to still rise slightly, but at a slower pace compared to previous years. This could make it a good time to buy if you plan to stay long-term in New Brunswick.
Neighborhoods: Certain neighborhoods in Moncton are expected to see more activity and growth, which could be beneficial if you’re looking for a specific area. For certain home types, Moncton North has slightly higher prices compared to similar homes in Riverview or Dieppe.
Ultimately, the decision depends on your personal circumstances and long-term goals. Have you thought about how long you plan to stay in your city, what your current family needs today and in the future? Have you considered buying an income-generating home (AIRBNB, Short-term rental etc.)?
🎯 Are you new to the Greater Moncton Area and you are looking for a REALTOR® to help you get a rental, sell or buy a home when you arrive or later? Click here to send a message or book a free physical or virtual meeting with us. https://calendar.app.google/2hMzZdUjrSqDkyNv6
*The information provided here is for educational purposes only. Consult professionals before making any financial or real estate decisions.
*This is not intended to solicit Sellers or Buyers under contract.