Pre-Construction Condos For Sale in East Vancouver: Invest or No?

As an East Vancouver resident, chances are you’ve seen ads announcing pre-construction condos for sale. The terms can be extremely enticing—minimal down payment, rock bottom prices, and they’re situated in the heart of the metro. But what does pre-construction mean? Get to know more about it so you’ll know if it’s worth investing in this type of property.

What is a pre-construction condo?

Pre-construction or pre-sale condos are properties sold before the completion of the project, either while it’s still in the planning stages or under construction. Selling condo units before they are completed allows developers to finance their project. In turn, buyers get the chance to purchase the property at a much cheaper price. Despite the attractiveness of such an offer, there are considerations to be made, and it pays to know the pros and cons of the process.

Pro – Low opening prices and flexible payment schemes

Because they have nothing concrete to show aside from the plans, real estate developers often offer pre-construction properties 30 to 50 percent lower than actual existing units. This is designed to attract the most number of interested buyers. For further enticement, developers are even willing to package already low prices with promos, discounts, and flexible payment schemes.  Read more from this blog:
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Vancouver Community Centre Agents Say Buy vs. Sell Debate is Pointless

You’ve probably heard people say it before: in this day and age, it makes little sense to buy a home, and it would be a far better option to rent one instead. Real estate experts left and right are saying it, claiming that people should just stick to renting and ignore the age-old advice to buy a home.

Though renting a home can definitely turn out to be the best decision for some, it doesn’t mean it’s the best decision for all. Likewise, buying itself isn’t fundamentally good or bad. Strong arguments exist both ways as any savvy Vancouver community centre real estate agent will tell you. For buying, here are the biggest reasons for doing so:

The home will eventually be yours, and payment will end.
The property can appreciate over time.
Tax credits can offset the cost of homeownership.
You can do what you want with your property. Read more from this blog: http://bit.ly/2m9MLh3

East Van Real Estate Property Buying: Be Sure to Check the Crawlspace

When homebuyers see an East Van real estate property that they love, they rarely give much thought to what’s behind the walls, much less what’s underneath their feet. When you’re doing an ocular on a home, ask if the property has a crawlspace, and if it does, be sure to have it check it out by a professional home inspector.

What is a crawlspace and what is it for?

Crawlspaces are essentially hollow areas in homes located above the ground and under the first floor. These spaces are usually small enough for someone to enter by crawling, hence the name. Crawlspaces are generally used to allow cooling air to circulate throughout a home, but they can also be used to house certain elements of a home’s different systems, such as electric wiring, plumbing, and HVAC ductwork.

Why do you need to check it?
If you’re buying a home, it’s important to have a home inspector look at the crawlspace before you close the deal. Depending on the conditions under there, you may discover that the home has a excessive humidity or mold problem. Worse, there may be a major issue with the home’s foundation. You need to ensure that every element in the crawlspace is in good working order because you and your family’s wellbeing can depend on it. Read more from this blog: http://bit.ly/2luEE1e

Tips for East Van Homes Sellers: 4 Ways to Succeed in a Buyer’s Market

Several factors influence the East Van homes market, including inflation, investment, construction, employment mortgage interest rates, immigration, etc. Each of these affect the supply and demand of real estate properties in one way or another, and in so doing, affects prices as well. There are three classifications that real estate experts use to describe the supply and demand situation in a particular housing market.

Seller’s market—when there are more potential homebuyers than there are properties available.
Buyer’s market—when there are more properties available than there are interested buyers.
Balanced market—when supply and demand are just about the same.

Currently, East Vancouver, along with the rest of the Hollywood North is experiencing a buyer’s market. According to CTV News, while a single family detached home in Metro Vancouver cost $1.5 million last month, the same properties today are selling for below $1 million, with one that sold for $560,000 below the initial asking price.  Read more from this blog: http://bit.ly/2luGq2s

Knowing the Area and the Different Styles of East Van Houses for Sale

The City of Vancouver has long been acclaimed for its high quality of living, as seen in the availability of homes, a plethora of city amenities, and the social benefits its residents are entitled to. The crime rate in this metropolitan region of around 650,000 inhabitants is relatively very low.

With Vancouver also being rated as one of the safest cities in the world, more and more foreigners and Canadians alike are making the big move to relocate here. And one of the key places of interest is the progressive area of East Vancouver.

Housing Types in East Vancouver

People who come to East Van, whether they are looking for job opportunities or are wanting to settle down with their families, have many options for their future abodes. Depending on the neighbourhoods, house sizes and styles can vary greatly. Historic districts like Chinatown and Yaletown are hugely populated, and they are becoming more urbanized with condos and new developments. Read more from this blog: http://bit.ly/2lJWPQZ

Enjoying the Sweet Life: Searching through East Van Homes for Sale

The 2016 Mercer Survey has proudly awarded Vancouver as the 5th most livable city in the world, being the only North American candidate to reach the Top 10. Described as a sustainable and progressive community, Vancouver maintains a very low crime rate and a low population growth rate. It is no wonder that many are choosing to look at real estate options as they relocate to this city.

Perfect for Raising a Family

As part of the greater Vancouver area, East Vancouver or East Van is also being recognized as a blossoming region. Businesses are plenty in this area, with more opportunities for employment and education. Several community centres are being maintained by the city government, and these facilities offer something fun and exciting for residents young and old alike. Small children can benefit from numerous day care programs, while school-aged youngsters get to stay active with various sports venues for training or recreation.

Culture and Entertainment

East Van is not only a place to call home, but it is also a venue to explore one’s creativity. Art galleries and museums can be visited along the borough of Mount Pleasant. Many establishments along Main Street’s shopping district feature works from local craftsmen like carpenters, jewelers, designers, and more. Read more from this blog: http://bit.ly/2nlz8uv

East Vancouver Condo Options: Lifestyles in Historic Neighbourhoods

East Vancouver can be described as a unique combination of the old and the new. The city’s remarkable journey through time, draws in people from all ages and cultures. To date, many have made the bold move to relocate and call these historic neighbourhoods their home.

A Taste of Asia in Chinatown

Described as the largest Chinatown outside of Asia, this district has become home to hundreds of thousands of residents who have relocated here since the 1980’s. Recently, it was designated as a National Historic Site of Canada in 2011.

Numerous establishments have sprouted, from restaurants, vintage stores, bars, galleries, and more. Additional developments are expected in the next years, thanks to the pouring in of more investments from Asian businesses. Read more from this blog: http://bit.ly/2lK2V3D