We’re back to our cross-Canada tour and, this week, we’re headed to Manitoba. I’m told houses are pretty cheap there, so I thought I’d have a look to find what you could buy for a measly $650K in Winnipeg*.
Here’s a charming house:
This 2842 sq.ft. 4 bedroom family home features a huge eat-in kitchen, five bathrooms, double car garage and a landscaped backyard. Read more…
We interrupt our regularly scheduled programming this week to bring you what may or may not be a ridiculous rental property here in Vancouver. This one was brought to my attention by one of my twitter compadres.
The Craigslist ad reads:
Hmmm…intriguing. I haven’t rented in a while, but I’m guessing that $899 is reasonable – is it?
Here’s what it looks like:
Nice big windows, hardwood floors…and is that exposed brick I see? Very funky, indeed. Read more…
In possibly some of the worst “advice” I’ve seen someone give to first time buyers, mortgage broker James DuVuyst tells Abodable.com readers to get while the gettin’s good here in Vancouver. Ugh. Stuff like this really irritates me. Not only is it bad advice, but it’s dangerous. People are already buying and living beyond their means. Having “experts” tell them to strike while the iron’s hot, because there are still bargains to be had, seems irresponsible.
Here’s DuVuyst’s rationale for why young Vancouverites should jump on the bandwagon (is there even a bandwagon to jump on anymore??):
Interest rates are SOOOO low
Interest Rates are at all-time lows and they keep dropping depending on the lender and program. Currently, right now, you can get a 5 year mortgage, high ratio (20% or less down) at 2.79%. That’s amazing considering in 2010 rates were at 3.69% and creeping into the 4% range. This allows first time buyers who choose a 5 year term to be qualified at 2.79% on a 25 year amortization. What this does is extend your purchasing power (assuming you have the minimum 5% down). Because of this, first time buyers can qualify in a higher price range, allowing them to enter into the expensive Vancouver market. I mentioned in a previous blog to think about increasing interest rates and how it affects your budget. Don’t overextend, but always keep the thought in the back of your head, “if rates were to increase by 1% how would this affect me?” Look into the future and plan!!! Read more…
We’re almost halfway across Canada!! This week we’re in Ontario and, for the sake of keeping the comparisons in one area, I’m going to focus on Toronto.
First up is this gorgeous home for just over $2 million:
Located in Central Toronto near some of the city’s esteemed private schools (woo hoo!), this classic home has 6 bedrooms, a big family room, modern kitchen with breakfast area, spacious master suite with 6 piece bath, and a finished basement with nanny suite!
Farther and farther west we go…bonjour, Quebec!
$1 million is a lot to spend anywhere in Canada. We’ll start in Monteal, where just shy of a million will afford you this refurbished bungalow:
Over 7,400 Sq. Ft of Land! 6 bedrooms, 3 bathrooms and gorgeous finishings. Ooooh la la! Read more…
Last week we had a look at properties in Halifax, Nova Scotia. This week we move a little further west to New Brunswick. Starting at $1.1 million we have this Cape Cod style home:
This country estate is located on over one square kilometre of untouched land and includes a 7 acre spring fed lake. Extremely private and quality-built, this is a maritime oasis. Read more…
Last week we had a look at what around $800K could buy you in Vancouver vs. PEI. This week we’re headed west again to Nova Scotia, with a budget of just under $2 million.
First up is this respectable home located on Halifax’s prestigious Younge Avenue.
With over 5000 square feet of living space, this home has 5 bedrooms, 3 bathrooms and sits on a 10,000 square foot lot. I would be happy to live in the master suite with its “luxurious spa-like 6 pc en suite and walk in closet.” Read more…
The constant positive outlook I see about the state of Vancouver real estate can be nauseating.
Nearly halfway through April, we’re on track for 2400-2500 sales. No big rebound yet, more below-trend sales vols #vanre
— YVR Housing Analyst (@YVRHousing) April 13, 2013
Greater Vancouver home sales still well below historical averagesvancouversun.com/business/real-… #yvrre #VanRE
— FVREB (@FVREB) April 3, 2013
Vancouver Real Estate Market Stabilizes | BCBusiness bcbusiness.ca/real-estate/va…
— tart and sell (@tartandsell) April 12, 2013
Vancouver housing prices stabilizing sco.lt/76OK5x
— Terry Burgess (@VanWestTerry) April 12, 2013
Around springtime of every year, it’s about all we hear. Doesn’t change the fact that, for most, a Vancouver home is still out of reach. Here’s how it all sounds to me:
Last week we compared what your money would buy you in Vancouver vs. Newfoundland. This week, we move west and are looking on Prince Edward Island.
I’m going to shoot a little lower with the budget this week and see what we can find between $700-800K.
First up this cute Cape Cod style abode:
Situated on over half an acre of water-front land, this home has 3 bedrooms, and 2.5 bathrooms. The lower level has a large rec room with walk out to the well landscaped grounds and to the water. All for $737K. Sigh… Read more…
