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Buying a house in Ottawa

6776 Views 12 Replies 8 Participants Last post by  OhGreatGuru
Im researching to buy my 1st house, im interested to buy small 1-2 bed room bungalow. I greatly appreciate sharing your knowledge or experience to help me.

House prices are dropping all over the country except Ottawa (according to the OREB: Record-breaking number of resale homes sold in May 2009).

1. Should I buy now or wait hoping for a price drop? and when is the best season to buy?

2. Rough estimate, how much is the closing cost for ~230K house?

3. I like to buying in Alta Vista neighborhood (quiet residential environment and close to the city centre) but houses there are over my budget (around 230k), any recommendations for a similar neighborhood with same attributes in my budget range?

Thanks for your help.
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for neighbourhoods in that price range, I'd recommend near the experimental farm (baseline and fisher hood). Residential, but close enough to parkdale market and westboro.
Carlington. That's it! lived there for 3 years and couldn't remember the name of the 'hood!!

There's some really good value semis in that neighbourhood. Last I heard, the semis on Kingston were going just north of 200k.
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