Using the historically high 2021 figures as a benchmark for where market values should aim to be is misleading to potential buyers, investors and home owners. Your home is only worth what someone is willing to pay for it, at the time you are ready to sell it. And you should only buy or sell a home or property when it makes sense for you, and not just when the market is at the lowest or highest point. Yes, it is financially advantageous when you can time the purchase or sale of your property to coincide with the beginning or end of a cycle, but the real return on investment in owning your own home is received while you are living in it and still paying for it. Somewhere along the line we have forgotten that.
We have already seen hyper-inflationary price increases in many sectors; shipping, lumber, gasoline, heating fuel, and the leader of the pack, real estate. An impoverishing trend that has a huge demographic priced out of home ownership, at a time when becoming a homeowner could help to hedge any hard earned wealth they have earned.
Many complex and critical steps take place behind the scenes when you enter into a real estate transaction and you should always choose to work with a licensed and reputable conveyancing professional. If you are shopping around for the best mortgage and rate, it now makes sense to shop around for the best deal in conveyancing at the same time.
Many rural and remote acreages are being purchased this year and lots of buyers are discovering that they need the professional services of a surveyor to begin the process of securing the land with gating and fencing and to plan out the location of new dwellings and outbuildings. A boundary survey adds value to your title, it allows the title owner to confidently create a land use plan and develop the acreage to add maximum value using the land in the best possible way.
It is the duty of the buyer to gather all necessary information on actual or potential risks involved in a home or property investment. An experienced realtor will assist you through this process, but It is ultimately your responsibility to examine and confirm that everything you have been provided about a listing actually checks-out to […]
The 2019 BC Assessment Authority reported a reduction in farm land taxable values for all regions of the province in their January Assessment reports. This can be misinterpreted when you are unaware of how and why B.C. Assessment collects and processes its findings. Only the “land” itself that is approved for farm status is included […]