Despite the costs of building a backyard zen, investing in your property instead of a couple costly weekend get-aways gives you a forever space that can be enjoy every day of the week. Well built outdoor improvements add value to your property, and they become unique future selling features. In my experience, buyers are impressed by extra storage, inspired by covered outdoor living areas, and excited to discover a greenhouse or garden that
The southern BC Markets have shifted, with an influx of new inventory giving buyers more choices amid a slower paced sales and multiple offers have all but disappeared, for now. In the active Harrison Hot Springs market, we have seen initial listing prices quickly reduced after open house events have yielded zero offer situations. Canada’s national housing starts were down in February by 2,285 units over last year, an indicator to watch that will predict further economic pullback.
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.
If the provincial government released another 2-3% of Provincial Crown Land into the private saleable holdings we would see an immediate and lasting impact on the real estate market as supply would increase dramatically and prices would stop their continued rise. The uplifting economic benefits of homeownership could continue to grow the economy and the province and its residents would actually benefit as a result instead of being continually penalized for a population growth issue that has been neglected by governing bodies in BC. The released crown parcels could be ear-marked for specific types of qualifying multi-unit and single family affordable housing which could actually be affordable!