A new international survey shows that Vancouver continues to be the least affordable city to buy a home in Canada – and ranks third internationally. But would you believe that Victoria comes in at second on the list in Canada, less affordable than all of the other major markets considered in the study?
Jan 30 2017
The B.C. government is planning to lift the levy on foreign home buyers in Vancouver for those who have a work permit and pay taxes in the province. Originally implemented in August 2016, the 15% foreign home buyer tax had an immediate impact of reducing the number of real estate transactions involving foreign buyers. In Metro Vancouver, there were 1,974 deals involving foreign buyers from June 10 through August 1, 2016. In the remaining month of August 2016 there were only 60 transactions; the volume has slowly recovered and there were 200 transactions during November 2016.
Jan 16 2017
Applications for the B.C. government's Home Owner Mortgage and Equity Partnership program open today, January 16, 2017. If you're an eligible first-time home buyer, do you have your documents in order?
Dec 29 2016
Our team is honoured to work with so many of you to make your home ownership dreams come true. We meet some amazing people in a variety of situations, but we always feel so humbled to get this kind of client feedback. The following words were submitted by one of our clients who has kindly given us permission to share this story.
Kam Brar and the team at Auxilium mortgage have been an absolute blessing and an incredible help during some difficult personal times.
While already having the responsibility of being the lone caregiver for my elderly mother, I was unfortunately rendered permanently disabled in early 2013. My finances, credit and general opportunities took an immediate nosedive and after months of trying to balance pre-existing debts and mortgage commitments on only 60% of what I was previously earning, I began to sink under the weight.
Dec 29 2016
The B.C. government's Home Owner Mortgage and Equity Partnership program, launching January 16, 2017, might seem almost too good to be true. The provincial government will match the down payment for eligible first-time home buyers to a maximum of 5% of the purchase price, up to a $750,000 property. This loan will be interest- and payment-free for the first five years.
Dec 22 2016
The B.C. government's Home Owner Mortgage and Equity Partnership program, launching January 16, 2017, is meant to assist first-time home buyers cover part of the cost of a mortgage down payment. There some nuances to the eligibility criteria that you will want to keep in mind:
Victoria is now second only to Richmond in the number of residential real estate transactions in this province involving foreign buyers. According to data from October, 6.3% of the sales in the Capital Regional District were to non-residents. This volume is almost double the amount of September transactions.
