Thinking of moving to Vancouver, British Columbia? Well you're not the only one. Plenty of people within Canada are selling their London, Ontario real estate to move to the west coast and plenty more are immigrating from other nations. All those new people put a pretty serious strain on housing, so if you're serious about moving there you should do as much research on the real estate market as possible to prepare yourself. The Vancouver real estate market is unlike any other market in Canada. We can help you learn all about it.
How is the Vancouver real estate market different? For one thing, it's the most expensive market in Canada. Even during recessions and mortgage crises, real estate in Vancouver remains the most expensive real estate in Canada on average. What that means for you as a home buyer is that even if your job is in jeopardy or your hours are cut back, you still won't get a break on your taxes because unlike an Oakville home for sale the value won't go down. This is good, though, for when it comes time to sell because you're pretty much guaranteed to get a good price.
Geographically Vancouver isn't really like anywhere else in Canada either. Because Vancouver is a city located in a rain forest zone, the problems you'll have with your property will be different than if you bought houses for sale in Brampton. The region gets very little snow, so you don't have to worry about snow collapsing the roof. But it does get a lot of rain and the temperature is much warmer on average, so rotting, roof leakage, mildew, and moss growth can be a problem for Vancouver homeowners. It's something you'll want to keep an eye out for when looking at properties.
If you're disappointed about missing out on the Toronto condo sales, you'll be pleased to know that Vancouver has a variety of real estate options as well. There are condos, apartments, high rises, low rises, some town houses and lots and lots of detached houses. There are much fewer high rises than in Toronto because the city has had more space to expand and less interest in high towers blocking the views of the mountains. There also tend to be fewer town houses as most people want a house or an apartment in a house that is detached.
Your first step when moving is to contact a Oakville real estate agent who can help you find a home. You should have an idea of what your budget will be. For now, you can use the averages. For a standard two storey house you'll be looking at between $405,000 and $1,350,000 depending on the neighborhood you're looking in.