Canadian Real Estate: Should You Buy a Home in 2025?

by Alex Dunbar

Should You Buy a Home in 2025 or Wait? 🏡😔

Are you about to make the biggest financial mistake of your life?

In this blog post, we're going to break down whether buying a house in 2025 is a smart financial move or a fast track to regret. If you’re trying to figure out whether to buy now or wait, this guide will help you weigh your options with clarity.

Step 1: Are You Financially Ready? 💸

Before even thinking about market timing or appreciation, you need to ask: Can you actually afford to buy a home right now?

Here's what to evaluate:

Stable income and job security
Sufficient savings for a down payment and closing costs
Emergency fund with at least 6 months of expenses
Comfort managing future expenses like:
- Property taxes
- Repairs and maintenance
- Home insurance

If buying a home would drain all your savings, it might not be the right time.

Step 2: Do You Have a Long-Term Plan? ⏳️

Buying a home should be a long-term decision. Ideally, plan to stay for at least 3 to 5 years.

Why it matters:

Buying and selling comes with high transaction costs
The BC Flipping Tax (and federal tax) applies to homes sold within 1-2 years
You may not see significant price gains in the short term

🔗 Pro Tip: If you have to move for work, consider renting out your home to retain long-term benefits without needing to sell.

Step 3: What Are Your Future Plans? 🌐

If you're planning a career change, a big move, or aren't sure about your relationship or living situation, waiting might make more sense.

Owning a home locks you into a location and brings responsibilities. You need to be financially and personally stable before making this leap.

Step 4: Protect Yourself from Rising Rents 🙌

One strong reason people buy is to escape unpredictable rent increases.

Benefits of owning:

Predictable housing costs
No landlord evictions or surprises
Freedom to customize your home

If you’re in a rent-controlled unit, this might not feel urgent. But if your landlord sells, moves in, or the lease ends, you could be faced with much higher market rent.

Step 5: Understand the Market Risks 📊

Real estate has historically gone up in value, but that doesn’t mean it always will — especially in the short term.

Market risks to watch for:

Rising interest rates impacting your affordability
Price corrections in overheated markets
Ongoing economic uncertainty

📈 Long term, housing prices tend to increase. But short-term volatility can affect your returns if you sell too early.

Step 6: Consider Lifestyle Fit 🏡🎩

Homeownership isn't just a financial choice—it's a lifestyle one.

Ownership

Maintenance
Property taxes
Repairs
Less flexibility to move

Renting

Mobility and flexibility
Fewer responsibilities
Predictable costs

Some buyers want freedom to travel or move cities—for them, renting might be better. Others crave stability and personalization—buying may be the right path.