As the Bank of Canada aggressively raised rates over the past year to fight multi-decade-high inflation, fears are mounting that tighter monetary policy will push the Canadian economy into recession. Indeed, central banks have a poor historical track record in achieving “soft landings” following tightening cycles. That is, amid high inflation, central banks often struggle to “thread...
What is the latest Bank of Canada rate hike means for inflation, consumers
The Bank of Canada hiked its key policy rate by half a percentage point to 4.25 per cent -- the highest it's been since January 2008 -- on Wednesday in its final rate decision of a year that has been marked by stubbornly high inflation and rapidly increasing interest rates.
The bank, which has made a steady succession of large hikes over the course of the year, is widely believed to be nearing an end...
8 Real Estate Trends to Watch as BC Reopens
There’s no question that the real estate market in British Columbia has been white-hot over the last year. Since the pandemic began in March 2020, we’ve seen significant year-over-year increases in sales and home prices across the province. The province has now entered phase three of BC’s Restart Plan, as an increasing percentage of the population has been vaccinated, and fewer individuals...
7 Ways Sellers Can Up Their Home's "Screen Appeal"
Help your property put its best foot (or room) forward.
When selling a home, presentation is everything. Successfully staging a property can help buyers visualize themselves living in your home, which ultimately can lead to more offers.
While staging your home for photos has always been important, sellers now have to pay even more attention to their home’s “screen appeal” to...
How COVID-19 will Impact the BC Housing Market
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Summary Findings:
- While it’s unknown how the unfolding COVID-19 outbreak will impact the economy in the long-term, BC is facing a sudden stop in economic activity with little guidance to when things may return to normal.
- Based on our scenario analysis, BC home sales and prices will likely face declines in the spring...
The Importance of Using A REALTOR® When Buying Pre-Construction
Home buyers might assume there's no need to work with a REALTOR® when purchasing a pre-construction build. After all, the builders and developers have on-site representatives promising to take care of all the paperwork, right?
Not so fast. There are a number of advantages to working with someone who has your best interests in mind. Here's what you need to know if you're thinking about buying a brand-new...
Real Estate Terms Cheat Sheet
Buying a house can be an exciting, but complex process. So when you embark on your journey, one of your first stops should be familiarizing yourself with the lingo.
We've curated helpful information from our Homebuyers' Road Map and Tips for Buyers, to share with you some of the most important terminology a new buyer needs to know—from pre-purchase to post-purchase.
Before you buy
First things...
House FOMO? How Social Media is Driving Millennials to Buy Homes
Scroll through your Instagram feed and you'll likely see hundreds of photos documenting your friends' renovation progress, interior décor choices and house hacks. Social media has given us a sneak peek into the best parts of other people's lives. What were once intimate celebratory moments are now carefully-curated photo-ops to share with followers. REALTORS® are even setting up photoshoots...
Why Accessible Parks and Playgrounds Are Good For All
In 2017, 22% of Canadians (about 6.2 million people) reported having at least one disability but the real number is likely higher and growing. With such a staggering statistic, it's unsurprising the focus on accessibility is gaining traction in architecture, design, real estate—and even in outdoor public spaces.
Why is accessibility so important?
Accessible parks and playgrounds connect people...
How To Get a Construction Mortgage Loan to Build Your Dream Home
For most, the fantasy of building a dream home is just that—a fantasy: the perfectly styled gourmet kitchen, the shower big enough to fit an elephant and every tiny detail carefully considered to be exactly what you want.
As a trained architect, it haunts me that at my age I still haven't designed and built my own home. With so much to consider, where do you begin? As always, a good place to start...
How to Plan for Homeownership as a Millennial
If you're a millennial considering buying your first home, congratulations! You're probably excited until you remember: houses are expensive and—regardless of your current financial situation—you'll likely need to save money to afford one.
This can be intimidating for anyone but, according to a recent survey, millennials in particular say it's become more difficult to buy a home....
Millennials WANT to Buy: Market Impact
People born between 1981 and 1996 (birth year definitions vary) who have reached adulthood in the early 21st century are dubbed “millennials”. It's an entire generation who have been collectively branded with a mix of stereotypes, including being smartphone-addicted avocado lovers who are content to live with their parents well into their 30s and who aren't interested in buying a home.
...How to Spot an Up-and-Coming Neighbourhood Before it’s Popular
Wouldn't it be great if you could spot the next up-and-coming neighbourhood before it turns into a highly-sought after area? With a little research and by knowing what to look for, you can reap the benefits of buying in a neighbourhood on the cusp of revitalization.
Home values are always a good starting point to finding neighbourhoods that are beginning to turn the corner but several other factors...
5 Reasons Winter is a Chill Time to Buy a House
Seasons come and go, as do houses on the market! Curb appeal, less competition and serious buyers are just some of the many benefits to listing your home in the winter. Surprisingly enough, the winter months may also be the most wonderful time of the year…to buy a home. In fact, there are many benefits to buying a home in the off-season. Now that we have entered subzero temperatures, here are...
7 Innovative Design Apps That Help with Home Projects
Whether you're renovating, redecorating or spatial planning—you know there's an app for that. We're taking a closer look at seven mobile apps that will give you a leg up on your next home project.
Magicplan
This is an app for everything from a brand new build to a redecorating project. Since you can recreate all of your doors, windows and furniture in the app (right down to their exact ...
8 Home Projects Perfect for Holiday Downtime
Staying at home for the holidays? Use some of your downtime to tackle a house project or two, and you can start 2020 with a fresher, cleaner space. Take the time to work on a project you would never usually have time for (like editing photos from the past year), get a head start on your New Year’s resolutions (by building a healthy pantry) and put away those ornaments and string lights (actually...
Qualicum Beach: Vancouver Island’s Coveted Coast
On the northeastern coast of Vancouver Island, with cool neighbours like Nanaimo and Port Alberni, Qualicum Beach is designed for those prescribed to a coastal agenda. With a temperate climate and four kilometres of sandy beach along the Georgia Strait, Qualicum is an instant love affair. With a population of 8,943, there's enough space for everyone's beach towel!
Located within the traditional territory...
Should We Airbnb a Room in Our Home?
With the booming sharing economy and travellers often preferring to forgo traditional hotel stays, the notion of renting out a room in your home (or the entire house itself) could seem appealing. But before you jump into peer-to-peer short-term rentals, there are some things you should consider:
Costs of hosting: starting up, cleaning, higher utility bills and more
Becoming an Airbnb host requires some...
The 10 Most Popular Staircases of 2019
Aside from connecting the lower and upper floors, an elegant staircase can also take a home’s design to the next level. But there are countless ways to design this key element in a multistory home. If you’re looking for staircase designs, this countdown of the top 10 staircase photos uploaded to Houzz in 2019 might help you find your way.
10. Classic Character
The newel...
Why Vancouver Is Awesome founder thinks moving out of the city is more awesome
Vancouver Is Awesome founder Bob Kronbauer with dog Frankie, his wife Kate and son Arlo at their new home that’s not in Vancouver. Photo courtesy Bob Kronbauer
The issue surrounding affordability in Vancouver is nothing new. No matter what your opinion or your income, the one thing most everyone can agree on is that Vancouver is an expensive place to live.
That fact was driven home again recently,...