There are many reasons to love the city Vancouver. People from all walks of life dream to reside in this dream city! Vancouver’s lively and vivacious culture, cleanliness, world-class schools, hospitals, shopping malls has made it one of the best cities in the world to live in.
If you are looking for a dream house in Vancouver, you must know that real-estate market in this city is quite different from other Canadian cities. Being a world-class city, Vancouver’s home prices are very, very high! In this article you will know about necessary steps to invest in real-estate. Here are some of the following which will help you to understand the current scenario of Vancouver real-estate.
Values for single-family properties in Greater Vancouver have jumped more than 15 per cent in last year as the region’s real estate market booms. In dollar terms, many detached houses are showing rise up to $200,000 to $400,000, in a year.
So, if you want to buy luxury homes in Vancouver, make sure to take some necessary money-saving tips to get a perfect deal.
Size of property– The more square footage a luxury house in Vancouver has, the higher its price tag. In this situation, make sure to ask yourself if you really need a six-bedroom home or if a three-bedroom home will be enough.
Save up for down payment- The bigger your down payment, the smarter the interest rates you will get; and you will get chance to save more money in coming years. You may need to holdup your purchase to reinforce your down payment amount, but it’ll be worth the wait.
Get a fixed loan- When looking for a mortgage, be sure to get a fixed rate loan instead of a changeable loan rate. By this, you are guaranteed to pay a fixed monthly installment no matter what is the situation of real estate market.
A Little Bit More– By paying $100 extra every month on your mortgage, you can cut off huge amount of money in coming decades.