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How to Buy a Home in BC with Low Income
 
Five tips that will help you become a homeowner, even if you have a low income.
  1. Create a savings strategy. ...
  2. Take advantage of the Home Buyers' Plan (HBP) ...
  3. Get an RRSP loan. ...
  4. Get help from loved ones. ...
  5. Take advantage of municipal assistance programs.

I am very passionate about helping my clients get into the Real Estate Market.  Such a great investment for their future.   Please contact me for a free consultation, and I will give you the resources to get you on the right path.  Namaste.

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Should I Buy a House Now or Wait?

Should I Buy a House Now or Wait?

Yes, you should buy a house now if you’re financially ready. Mortgage interest rates are high right now, but we don’t know for sure when they’ll go back down—the next bank of Canada interest rate announcement will be on January 24th, 2024. Most predictions indicate that it will be held at 5.00%

We do know, though, that housing prices will keep going up (like they always have). So, your best bet is to buy now and lock in your home’s price before housing costs increase even more. Then, if interest rates do go down in a year, you can refinance to a lower rate.

Plus, because interest rates are high right now, fewer people are buying, which means you won’t have as much competition when you make offers.

However, you should only buy a house if you’re prepared financially and have done the due diligence in getting pre-approved.

Please reach out.  I am very passionate about what I do, and I would love to help make your real estate dreams a reality!  Let's connect.

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Buying a home with a Rental Suite?

Why Purchase a home with a mortgage helper?

Renting out part of your home offers significant financial gains, and is encouraged by the Canada Mortgage and Housing Corporation (CMHC), for being an effective contributor to affordable rental housing. For example, the Crown Corporation estimates secondary suites account for one fifth of all rental supply in Vancouver, a city with nearly zero (0.6%) rental vacancies.

“Not only are secondary suites a source of affordable rental housing, they can also provide the needed extra income to first-time buyers for whom that additional income makes housing affordable in high-cost areas,” the CMHC states on its website. In September 2015, it also passed new rules to make it easier for landlord homeowners to qualify for loans and mortgages – 100% of gross rental income can now be included as part of their debt-servicing ratio.

While that’s a big plus for buyers who are looking for the additional help qualifying, the CMHC points out that income suites are also a great option for retirees who may not wish to downsize & leave their family homes. “For older households who no longer need a larger house, the addition of a suite can generate needed income and security, as well as allow them to continue to live in their neighbourhoods and age in place,” it states.

However, you’ll be sharing your home with other people, and that’s not for everyone. Be sure you're willing to tolerate things that go bump in the day and night.  It is important to do your research on what you will need and what to expect as a landlord.

Please reach out for more information.  I would love to be of assistance in helping you reach your real estate goals.

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Is Buying Presale a Good Investment?

Is buying presale a good investment?

Typically, presale homes are sold at a lower price than their market value would be upon completion, making them an attractive option for investors seeking potential appreciation, as well as first-time homebuyers who wish to enter the market at a lower price point.

When buying a presale home, you're basically putting a deposit down to own the rights to your future home. Though there are usually payment schedules, you will pay as the home progresses, but you won't be asked to pay the full price of the home until it's completed.

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What is the real estate forecast for 2024 in BC?
 
 
BC Assessment said Tuesday that the vast majority of markets in Metro Vancouver, the Lower Mainland, Sunshine Coast, Greater Victoria and the Okanagan saw the typical 2024 valuation of a single-family home stay within a five-per-cent increase or decrease in price.
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What is the real estate forecast for 2024 in Vancouver?
 
 
Reports predicts detached properties will rise 2.5 per cent to $1,778,785, while condos will likely go up by 4 per cent to an average of $795,808.
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