Monthly Archives: December 2013
The new numbers for Vancouver’s 2014 Real Estate market are just now coming out. January was a solid month for growth with numbers staying around the same as the high mark of 2013. However, experts are expecting to see more growth as the months roll by in 2014. According to Vancouvermarketreports.com markets are currently 12% less than the same period in 2013, but this does not mean a slide in the housing market is taking place. In fact, the numbers of last year were greatly influenced by a spike in new buildings and detached home sales (numbers which do not fluctuate as much as other real estate prices). This year, sales of condos and new projects are expected to be the main push for real estate.
Of course, it is not just the amount of home prices that are fluctuating, so are the type of buyers Vancouver is enticing. According to experts, the buyer profile for Vancouver has shifted dramatically away from off shore buyers and towards local residents. It seems as though individuals from neighboring cities and states are taking an invested interest into moving to British Columbia’s most expensive city. Although the market is hot for sellers, buyers are still more interested than ever to receive their piece of prime Vancouver real estate, and it seems as though no price is too much. (more…)
As a first home buyer, many individuals carefully create a budget that they believe will give them a good idea of what they can comfortably spend on house and land packages or a custom finished residence designed by one of the professional home builders in their area. They may take into consideration a monthly house payment versus their lease or rent payments and they may include the cost of a down payment, but for the most part, the average first time buyer leaves out at least two or three important factors that can have a profound effect on their budget and how much house they can really afford.
Future Maintenance And Repairs
Whether you’re looking at house and land packages, an older house that needs some renovations or a brand new display model, your house will need regular maintenance as well as periodic repairs as the years roll by. When you’re renting, the landlord is usually responsible for the bulk of any maintenance or repairs, but once you own your own place, you’re on the hook for anything from repairing or replacing worn or damaged appliances to repairing a leaky roof. Months can go by without any repairs needed, but when they do crop up, they can be expensive. The same goes for maintenance such as painting walls or washing the windows. You can do it yourself or hire someone to do it for you; either way will mean you’ll need to invest in the tools and materials at the least. (more…)