Why You Should Invest in Vancouver Houses for Sale

If there’s a country that is amicable toward real estate investments, that would be Canada. The monetary and tax incentives that investors can potentially receive are usually enough to encourage foreigners to engage in real estate it this country than anywhere else. It’s not that hard for foreign investors to cash in on Toronto or Vancouver houses for sale because buying a property does not require Canadian citizenship or residency.

The Canada Revenue Agency (CRA) only requires foreign investors to file annual tax returns for properties they rent out. Likewise, the provincial government places a transfer tax on purchased properties, which usually is 1% of the first $100,000, and two percent of the balance. New homes may be eligible for partial Goods and Services Tax rebates. American real estate owners in Canada can also claim foreign tax credits when they sell their Canadian property and pay taxes on gains in Canada.

Other perks and benefits are also available to Canadian real estate investors. Reverse mortgages, for example, are offered to residents who are at least 60 years old. These allow qualified residents to receive regular payments of up to 40% of their properties’ value, tax-free. Another benefit is the home equity line of credit, which allows property owners to get a second mortgage for their property, and pay off their principal at any time without penalties.

Weighing the Benefits of Condominium Life

With real estate prices continually inflating, it’s getting much harder to secure permanent and reasonably-priced living spaces. Figure in the scarcity of space, especially in urban regions, and you have yourself a recipe for a potential displacement disaster. It’s no secret that more and more people need affordable and adequate housing, but where can they find such properties?

Perhaps the most suitable option for those having trouble finding a home would be the condominium. Condominiums are properties divided into numerous units. A unit may be leased to a tenant who pays an agreed upon rental fee. As a condominium building houses several condo units, multiple tenants can live in the same property at affordable prices.

Not only does living in a condominium cost a lot less compared to living in a single family home, it also allows tenants to live right in the middle of the city or in the midst of a developed community. Condominiums are usually conveniently located right next to various facilities, retailers, and services, which can be a big plus for many individuals. As a bonus, tenants don’t have to worry about much of a condo’s maintenance, as general housekeeping and maintenance are often taken care of by condominium owners and property managers.

Now Would be a Good Time to Search for Ideal Vancouver Houses for Sale

The positive market trend has also encouraged many homeowners to put their properties up for listing, giving buyers a number of options on excellent Vancouver houses for sale. Additionally, monthly mortgage rates remain at affordable levels, encouraging more buyers to enter the market. With all the conditions that come into play when buying a property, buyers are encouraged to do their homework and learn as much about the processes and players involved before buying a property. One of the most important things buyers should do is look for a reliable brokerage company like RE/MAX Crest Realty Westside. Not only can the professionals behind these companies help buyers find the most suitable residential properties for their budgets and preferences; they can also assist their clients with the financing issues involved in buying a new home. For example, if buyers are selling their existing home to finance a new one, professional brokers can help calculate their home’s current net worth.

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High Rise, High Life: A Vancouver Condo Offers Comfortable Living

It may not have the privacy and open space single family properties have, yet condos are a highly appealing choice for those who want to settle into a residence that’s conveniently close to both work and play. They are also a smart option for retirees who want a simpler living space to manage. Those who find the Vancouver condo life interesting and are considering it over single-family home living should shop wisely for the right units to purchase. There are numerous advantages to buying condominiums, other than being located right in the middle of the city. Condominiums demand very little maintenance from tenants, saving them from having to perform regular housekeeping and fixing chores. Most condo complexes also have a security detail in charge, safekeeping the properties from criminals. It helps that a select number of condos also offer amenities such as club rooms, fitness gyms, swimming pools, and so on.

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Feeling Cramped? Time to Look for Bigger Houses for Sale in Vancouver

Of course, many Canadians would probably find living in a mansion a tad excessive (and they’ll realize that property maintenance can be a big challenge). On the other hand, living in a tiny house means giving up creature comforts like a full-sized bed. In any case, most people live comfortably enough in mid-sized houses with one or two bedrooms. Of course, there will always be well-oiled new families scanning the market for bigger houses for sale in Vancouver. Understandably, couples planning to start a family are going to need more space for their new addition. Families planning to have more kids can use a home with more rooms and a bigger backyard. Certain life changes necessitate buying a bigger house. You may have quit your day job to start a home business where the extra room might function as an office or workshop. Some families who have accumulated more than 20% of equity on their current home opt to use this fund as down payment for a bigger property.

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Purchase a Condo in Vancouver with the Help of a Trusted Realtor

Robin Wiebe, a senior economist at the conference board, says softer prices in the condo market, where prices have been falling slightly, are making condos "an affordable way for Canadians to achieve homeownership." In Vancouver, Canada’s most expensive housing market, condos are still an affordable option, he said. He calls Vancouver "a buyer's market" in 2013 because of prices moving downward over the past few years, but says sales and prices will pick up in 2014. Increase in population and employment rates Genworth's report also states that in addition to modest yet steady job gains, the older population's growing interest in condos in Vancouver and other Canadian towns and cities is also driving sales. However, the report also predicts that the continuous construction of new condos will slow down as a way for builders to recover from decreasing sales of the existing units. Condos are considered a more affordable housing option for Canadian residents than traditional houses

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