Dream home might be cheaper now

Even though the real estate market is hotter than anyone expected it would be back in January, many buyers are missing out by believing they  can "lowball" sellers and try to steal a property.

Unfortunately, most under-handed offers are still being laughed at as sellers are aware the sky is not falling. As a result, some buyers are deciding to wait for the market to dip before they purchase.

The downside for would-be buyers, though, is they are missing out on the opportunity to borrow money for cheaper and for a longer period of time.

Interest rates, economic uncertainty impacting Calgary market

For Calgarians Matt and Vanessa Haug, the stars aligned when they decided to purchase a new home in southeast Calgary.

The couple cited low interest rates and competitive house prices behind their decision to act now rather than wait – a sentiment slowly emerging since energy-sector uncertainty took hold in Calgary's housing market late last year.

"We got 2.69 [per cent] on a five-year fixed rate. It definitely impacted our decision," said Matt, who also cited house prices behind their decision to buy and noted the lower rate did not impact how much they ultimately spent on their new home.