ight PropertyNews
How Far is Too Far?
“I’d like to buy a newer home with a decent sized yard on a quiet, tree lined street in a nice neighbourhood, centrally located.” This may sound reasonable until you factor in the price of real estate and the proximity to the city when you are in Greater Vancouver. How much you say? With the typical sale price of a single family home in the region just over CDN $1 Million, it’s just not that easy. On the west side, prices are over $2 Million. If you want a more reasonable price about 1.5 hours commute away in Maple Ridge, the price drops to about $500,000. Buyers have come to realize that living close to the city means making compromises between accommodation and commute time. Buying a condo or townhouse with smaller space but closer in allows...
Burnaby on Record Growth Spurt
Burnaby has grown up and perhaps rivalling their neighbour, Vancouver. Here is an excerpt from the Globe and Mail, Mar 30, 2012 edition by Kerry Gold:
What Men and Women Want (in Real Estate)
Limited First Time Buyer New Home $10k Bonus
The BC government announced, on Feb 21, 2012, a one time cash bonus that can be received by 1st time Buyers on new home purchases (with qualification criteria to a maximum of $10,000). While this bonus is still subject to be legislated, this is a huge benefit to those getting into our expensive marketplace. With some banks offering 5 year closed mortgages at 2.99%, the Property Transfer Tax Exemption for qualified first time Buyers in place, and some developers absorbing the net HST, this is a huge windfall to jump into home ownership. With the details yet to be released, there is mention of a time deadline for eligible purchases that must complete by March 31, 2013. For example, on a new apartment priced at $300,000, the savings could...Coldwell Banker Sings 'Home, Sweet Home' - NYTimes.com
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