Benefits for Move-Up Buyers in Today’s Real Estate Market
From Remax Blog
A move-up buyer is someone looking to sell their current home and purchase another one that is typically larger, more expensive, or better suited to their evolving needs. They are distinguished from first-time homebuyers because they have already bought a home and have built equity in their existing property.
Some move-up buyers might be looking for more space to accommodate a growing family, while others might seek luxury features, a more prestigious location, or amenities their current home doesn’t offer. It could also be a strategic move to capitalize on accumulated home equity, taking advantage of market conditions to invest in a property with greater potential for appreciation. Here are some benefits of being a move-up buyer in today’s real estate market. Read more…
The Most Affordable Markets in British Columbia
From Remax Blog
For many prospective homebuyers, the British Columbia real estate market is considered unaffordable. While some places in the Western province are certainly far more expensive than the typical buyer’s budget, there are many other areas of the breathtaking province that are considered to be affordable.
Yes, the average price of a home in British Columbia is around $965,000. However, this is heavily skewed because of the Metro Vancouver housing market, where the average selling price is north of $1.2 million. Ditto for rent, as the average cost is close to $2,700, fueled by skyrocketing housing costs in Vancouver. Read more…
HELOC Closing Costs: A Guide
From Remax Blog
This past summer, the nation’s chief bank regulator imposed new rules against home equity lines of credit, also known as HELOCs. The Office of the Superintendent of Financial Institutions (OSFI) installed a cap on borrowing available through HELOCs as part of efforts to strengthen Canada’s banking system.
In other words, many Canadians will notice a limit on their HELOCs. Read more…
Stay tuned for next week!
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