All in Vancouver
When you buy a home, the lender requires you to get home insurance but they only require bare bones coverage for the value of the building. A home is likely your most valuable investment and you need to know that you have enough coverage to protect yourself and not just the bank.
A majority of Canadians believe they have more insurance coverage than they actually have.
This simple condo buying strategy will save you $100,000
Until May, home buyers with a 2017 pre-approval will have an unfair advantage. Don’t make an offer on a home until May 1st.
A mortgage regulatory change that hasn’t been talked about much in the media but it will likely impact Toronto, Vancouver, Victoria, and Hamilton, especially if condo prices continue to climb. It asks lenders to loan less in markets with high property value risk.
In the past year detached home prices have drifted downward in Toronto and Vancouver while condo prices have surged, so the price gap between the two has narrowed. At the end of this article we explain our belief that now may be the best time to trade in your condo or townhome for a detached home.
The consensus seems to be that 2018 will see more price gains than 2017, and that detached house prices will stay relatively flat while condo prices rise continue to climb.
At the end of November, Vancouver city council voted to adopt a new 10 year housing strategy. Honestly, what took so long? Vancouver real estate has been too expensive since 2010, and started being referred to in the media as a crisis in 2015.