The real estate market in British Columbia is always buzzing, and 2025 looks like it’s going to bring some interesting developments. After a few years of ups and downs, experts are predicting a rebound in market activity and modest price increases. Let’s dive into what this means for you. A Boost in Sales Activity The British Columbia Real Estate Association (BCREA) expects…
The proposed “Rustad Rebate” by the BC Conservative Party aims to address the province’s ongoing housing affordability crisis. The plan suggests allowing renters and homeowners to deduct up to $3,000 in housing costs from their taxable income, offering financial relief for many. However, this policy has both potential benefits and downsides worth considering. The Potential…
The federal government’s new mortgage reforms, effective December 15, 2024, significantly increase the price cap for insured mortgages to $1.5 million and extend 30-year amortization to all first-time buyers and new builds. This change is expected to make mortgages more accessible, especially in high-cost areas like Vancouver. By lowering monthly payments and enabling more people…