Vancouver Real Estate Market News

What does it mean to be a First Time Buyer?

Posted on Oct 13, 2021

There are special benefits to being a First Time Home Buyer.  Your minimum down payment on your home can be 5%.  If you are not a First Time Buyer, your minimum down payment must be 10%. 
Canada Mortgage and Housing Commission’s definition of a First Time Home Buyer is: 
Anyone who has not owned a home as their principle residence either jointly of separ...

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What Is Market Value?

Posted on Oct 13, 2021

Recent sales of Similar Properties:
The best indications of market value come from recent sales of properties that compare in terms of location, lot size, age, and condition of home. Recent sales indicate what people have been prepared to pay for similar properties in a given market.

Property Currently Listed on the Market:
To determine the value of y...

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How much money will we require to purchase the home?

Posted on Oct 13, 2021

There are several costs to consider.  Some of the expenses related to buying a home are one-time costs, while others are continuing costs.

Your largest cost at the beginning is your down payment. As a first time buyer, this would likely represent 5 - 10% of the purchase price.

However, you should be prepared to pay for additional costs, such as:

Legal...

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