ight PropertyNews
We (Vancouverites) Love the Weather
If you live in the Greater Vancouver area, we get spoiled with our weather. We are lucky that we have very moderate climate conditions. Our spring and summers are warm while our fall and winter months are mild. Rarely do we experience extreme weather conditions. This allows for water sports and, at the same time, snow related activities on our mountains. We do get our share of rain (a.k.a. liquid sunshine) throughout the year with the usual complaints; however, we really love the sun when it does appear. Our city is surrounded by majestic mountains to the North, breathtaking seascapes to the south, while the rainfall allows for lush green lawns and fresh water all year round. This would explain why so many out of town visitors arrive they end...
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...
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...Location, location, location for a condo.
Everyone asks about where is the best place to buy a condo in Vancouver. In the West End? Maybe Fairview Slopes? Perhaps by Coal Harbour? I’m referring to the location within the building itself which many don’t think much about. North facing units are cooler but get less natural light. South-west facing units, especially for high rises, are very bright but also get the most heat and sun. Corner units have great exposure and more air flow when windows are open. Ground floor units tend to have bigger patios and perfect for pets where allowed while others worry about security. Higher floors have better views but more steps to take should the elevators need servicing. A unit by an elevator is convenient but also has more noise and traffic....
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