The Potential Cost of Waiting to Buy a Home

🤔 Are you waiting to buy?

Are you putting off buying your home, waiting and thinking that you will get a better deal at the end of the year, or some other time in the future?

There are a lot of things to consider, and it can feel overwhelming.

📉 You can’t time the market

If there is one thing that History has shown us, you can’t time the market. Yes, sometimes the stars align, but that is a rare occurrence.

When I bought my first home, my interest rate was 12.25%, and the rates went as high as 18% before they started coming back down.

We had the down payment and it did not stop us. We wanted to buy our first home, we were told the interest rate would go up.

We knew that rates would come down eventually and hopefully before we had to renew our mortgage.

👉 We all must make the decision that is right for us.

💡 If you’re ready financially…

If you are in a position financially right now to buy your home, then here are some points to consider.

📊 Ottawa Market Snapshot (2026)

It is now April 14, and the numbers are available for the first quarter or 2026. So, let’s look at some numbers.

The Ottawa real estate market is balanced and based on reports from sources such as CREA (Canadian Real Estate Association), and CMHC, Canada Mortgage and Housing Corporation, it will remain balanced throughout the year.

📈 The number of homes available is up 14.4 % compared to the first quarter of 2025.

📉 Although the number of homes sold for the first quarter are down 5.7% compared to the same period in 2025, and the average sale price is down 0.9% also for the same period, the home prices have risen, month to month in 2026.

📈 Average Sale Prices (Source: OREB)

🏠 Detached homes:

• January $793,874

• February $830,951

• March $845,006

🏡 Townhomes:

• January: $536,106

• February: $539,639

• March: 562,513

🏢 Condo/Apartments:

• January: $388,307

• February: $428,538

• March: $401,656

📊 What does this mean?

You can see, with the exception of condo apartments, that the prices have risen month over month.

📈 That is an increase of around:

• 6% for detached homes

• 4.9% for townhomes

• 3.43 % for condo apartments

I do not expect this rate of increase to continue based on past market cycles.

🔮 Market Predictions

Depending on which source you use, CMHC, CREA, or another, the predictions vary, from a 1% overall increase, to a 3.1% overall increase for the year.

It will differ for each property type based on home sales and number of available homes.

💸 Interest Rates Outlook

So far, the bank of Canada has held the key lending rate at 2.25%.

If we go by what most major economists are predicting, including CIBC, RBC, TD and National Bank, the overnight rate will likely remain steady at 2.25% for the entirety of 2026, though this is less certain now than before.

⚠️ Some outliers, like Scotiabank, predict a rise to 3.00% by the end of the year.

👉 That is not to say that lenders will not raise their rates.

For the sake of argument, Let’s say that the interest rates remain the same, so I won’t use this as a cost of waiting to buy.

📌 Please remember though, if the rates do go up, you will need to add it to the cost of sitting on the fence, waiting for a better purchase price.

👉 I will say, that I check in with different sources, and none of them are predicting a drop in home prices for Ottawa. We have already had that correction.

🧮 Let’s Run the Numbers

Let’s run some numbers. Since the predictions for home price increases range from 1% to 3.1%, let’s use 2%.

Also, since it is April, we will use the March sales numbers and a possession of July 1, leaving enough room to provide proper notice to landlords, to calculate the potential cost of sitting on the fence!

🏠 Detached:

Average sale Price March: $845,006. Projected December price: $861,906

👉 This is a difference of $16,900

The average rent for a 3-bedroom, 2-bath detached home is $3000. You can use your actual rent.

As mentioned earlier, we will start July 1, when you would take possession to calculate this cost and will include December.

👉 This number will be $18,000, with a total cost of $34,900

🏡 Townhouse:

Average sale Price March: $562,513. Projected December price: $573,763

👉 This is a difference of $11,250

The average rent for a 3-bedroom, 2-bath townhome is $2600. You can use your actual rent.

As mentioned earlier, we will start July 1, when you would take possession to calculate this cost and will include December.

👉 This number will be $15,600, with a total cost of $26,850

🏢 Apartment:

Average sale Price March: $401,656. Projected December price: $409,689

👉 This is a difference of $8,003

The average rent for a 2-bedroom, 1-bath apartment is $2100. You can use your actual rent.

As mentioned earlier, we will start July 1, when you would take possession to calculate this cost and will include December.

👉 This number will be $12,600, with a total cost of $20,603

⚖️ The Bottom Line

No one has a crystal ball. Prices and interest rates can change. No one can accurately predict the future. 

But based on current data and projections from sources like Canadian Real Estate Association, Canada Mortgage and Housing Corporation, and the Ottawa Real Estate Board:

👉 Waiting could cost you thousands of dollars

The real question isn’t:
“Is this the perfect time?”

It’s:
👉 “Am I ready—and does this move make sense for my life?”

Because when you’re ready…
That’s often the best time to act.

📲 Need Help Deciding?

If you’re unsure whether now is the right time to buy, let’s talk.

No pressure. Just real numbers, real data, and honest advice to help you make the right decision.

Let’s Take a Closer Look Before You Automatically Sign That Offer

Here's something most homeowners don't realize until it's too late: your mortgage renewal isn't a deadline. It's a planning window, and it opens months before any paperwork ever shows up at your door.

Your lender isn't going to tell you that, by the way.

Most renewal offers arrive close to maturity, dressed up to look simple and convenient. Sign here, keep your payment familiar, move on. No fuss, right? The problem is, the best options rarely show up at the last minute. By the time that envelope arrives, a lot of your most powerful choices are already off the table.

Starting early creates real leverage. It gives you time to compare structures, understand penalties, and actually decide whether staying put, switching lenders, or adjusting your mortgage makes sense for where your life is headed. Waiting until the final weeks usually means accepting whatever is easiest, not whatever is best. There is a difference.

And here's something we say all the time: rate matters, but structure matters just as much.

The term length affects how often you're back at the negotiating table. Prepayment options determine how aggressively you can chip away at your debt if your cash flow improves. Penalties can either protect you or trap you. Payment flexibility shapes how well your mortgage adapts as life keeps changing on you, because life always keeps changing.

In some cases, a slightly higher rate paired with better terms delivers more value than the lowest advertised rate with a pile of restrictions buried in the fine print. Flexibility creates options. Options create control. That's the long game.

Starting early also takes the pressure off. When decisions feel rushed, most homeowners default to familiarity or freeze up worrying about making a mistake. When decisions are planned, the trade-offs are clearer and confidence is higher. We see this all the time.

A strong renewal doesn't feel urgent or dramatic. It feels considered, intentional, and lined up with where you're actually headed next.

Have questions about your mortgage, or want us to compare what you're sitting on to what's currently available? We do free renewal reviews, and our advice could save you thousands.

Meet the team!

Reach out to us at 289-645-1568 or experts@laframboisemortgage.ca and let's review your options early so you go into your renewal with eyes wide open. There is no cost for our service & it could save you thousands.

☕ Let’s Talk About Something Most People Don’t Realize…

When you hear the word downsizing, what comes to mind?

For most people, it’s:
👉 retirees
👉 empty nesters
👉 seniors moving into smaller spaces

But here’s the truth…

👉 Downsizing isn’t just for Boomers and Seniors.

In fact, I like to call it something a little different:

💡 Rightsizing

Because this isn’t about going smaller…
👉 it’s about finding the right fit for your life.

🧠 What Is Rightsizing (Really)?

Let’s imagine we’re sitting at your kitchen table for a minute.

You look around your home and think:

• “We don’t use half these rooms anymore…”

• “This place is a lot to keep up with…”

• “Why does this feel more stressful than it used to?”

That’s not random.

👉 That’s your home no longer matching your lifestyle.

🏡 Rightsizing Doesn’t Mean Giving Up What You Love

This is one of the biggest misconceptions I hear:

👉 “I don’t want to feel cramped…”
👉 “I still want a big kitchen…”

And you absolutely can.

Rightsizing doesn’t necessarily mean smaller rooms—
it means less overall square footage.

You can still have:
✔ A spacious kitchen
✔ A comfortable living area
✔ The features that matter most to you

👉 The difference is this:

You’re focusing on the rooms you actually use
…and letting go of the ones you don’t.

So instead of:

• Extra bedrooms sitting empty

• Formal spaces rarely used

• Unused square footage to maintain

You have:
👉 A home designed around your real life

⚠️ Signs Your Home Might Not Be Working for You Anymore

This isn’t always obvious—but it shows up in small ways:

🔑 Common Signs:

• You’re only using part of your home

• Maintenance feels overwhelming

• Cleaning takes more time than you want to give

• Your space feels cluttered or inefficient

• Your lifestyle has changed (kids moved out, working from home, etc.)

• You feel more stressed in your home than relaxed

And here’s the big one…

👉 Your home feels like work instead of comfort

❤️ Why This Isn’t Just a “Space” Decision

This is where people get stuck.

They think:
👉 “But we love this home…”

And that’s completely valid.

Because a home is more than walls and a roof:

• It’s memories

• It’s milestones

• It’s your story

But here’s the shift:

👉 You’re not leaving your life behind—you’re making room for your next chapter

✨ What Happens When You Rightsize?

This is the part most people don’t expect.

When the home fits your life again, everything feels easier.

💡 The Benefits:

✔ Less maintenance
✔ Lower monthly costs
✔ More usable space (not just more space)
✔ Easier day-to-day living
✔ More time for what matters

And maybe most importantly…

👉 More peace of mind

👨‍👩‍👧 Rightsizing Is for Every Stage of Life

This applies to:

• Growing families needing better function

• Couples with changing lifestyles

• Empty nesters

• Seniors

• Anyone feeling “out of sync” with their home

Because life changes…

👉 and your home should evolve with it

🧭 How to Start (Without Overwhelm)

The biggest mistake people make?

👉 Trying to figure everything out at once

Instead, keep it simple:

✔ Step 1: Ask Yourself

• What do I actually use in my home?

• What feels like too much?

• What would make life easier?

✔ Step 2: Start Small

• One room at a time

• One decision at a time

✔ Step 3: Explore Options

• Condo

• Bungalow

• Smaller footprint (not smaller lifestyle 😉)

• Different location

No pressure—just possibilities.

💬 Final Thoughts (This Is the Important Part)

Rightsizing isn’t about giving something up.

👉 It’s about creating a home that supports your life today—not the life you had 10 or 20 years ago.

And if your current home is causing stress…

👉 there’s a good chance a better fit exists.

🤝 If You’re Starting to Think About This…

If you’re reading this and thinking:

👉 “This sounds like us…”

You don’t need to make a decision today.

You just need to start the conversation.

📩 If you want to talk through your options—no pressure, no timelines—
I’m here to help you figure out what makes the most sense for you and your family.

Contact me HERE to book our conversation.