Thursday
Forget about buying a home in Vancouver
If you are a first time buyer looking for a detached home in Vancouver, our new budget is no help. The threshold for the First Time Home Buyer’s program — which exempts those buying their first home from paying the property transfer tax — was increased to $ 425,000 from $375,000, a saving of over $6,000.
There is nothing below $425,000 for a home with your own backyard in Vancouver. For first time buyers that want to take advantage of the program, the only solution is to move out of Vancouver or buy into a townhouse or apartment.
For more details : http://www.321SOLD.net/for_buyers.html
There is nothing below $425,000 for a home with your own backyard in Vancouver. For first time buyers that want to take advantage of the program, the only solution is to move out of Vancouver or buy into a townhouse or apartment.
For more details : http://www.321SOLD.net/for_buyers.html
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Hi everybody, the advice is pretty smart and in my opinion, it relatively reflects the common situation of first time buyers. The ideas are reasonable and as a Vancouver Realtor, I am personally curious about how the situation would develop further. Cheers and good luck! Jay.
The shortage of affordable rental housing may be another reason to expect house-price multiples to rise and this is likely the case in markets like Toronto and Vancouver.The same rationale applies where there are outright shortages of desirable land that can be developed at a reasonable cost, such as Vancouver.Also, as city populations expand and urban sprawl takes over, higher P/Es for housing that is closer to prime working areas may be viewed as worth it in relation to transportation and other costs. Demographic inflows concentrated on Toronto, Vancouver, Calgary and Montreal are another reason to expect multiples to be higher today than in earlier periods of less pronounced immigration.
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Mobin
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Mobin
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By knowing your local real estate investing market, you're able to keep your finger on the pulse of your local community and to stay abreast of changes in trends, sales prices and rental rates. Knowing immediately about these changes is critical to your investing future.
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