Here is some good advice I received from our partners at Axiom...
Here at Axiom, customers are constantly coming up to us and asking our opinion as to when is the right time to buy. In our opinion, if you're buying for the right reasons, it should always be the right time.
Over the last few years, as real estate markets across the country were heating up, Canadians gradually stopped seeing their homes as places to live, and instead viewed them as quick money-making investment vehicles. The thing is, whether you're investing in the stock market or real estate, the short-term approach is never a sure-thing.
The best investment strategies have a long horizon. Whether you're buying a stock in a reputable company like Boeing, or a home in good area, it will always go up in the long run. When you look far off into the future, it doesn't matter what the asking price was - or whether the mortgage you acquired was 0.2% higher than it was if you'd purchased six months earlier - you'll always come out ahead.
-Axiom Mortgage Partners