Stories Tagged - British Columbia
Nov. 13, 2019 | Barb Livingstone
Elton Ash, regional vice-president for RE/MAX Western Canada, says older buyers have been the recreational market's strength for years, but millennials are growing in purchase numbers.
Nov. 13, 2019 | Gerald Vander Pyl
A ski-vacation condo can be a great place for holidays with family and friends, with the added benefit of generating rental income when you're away.
Luckily, ski resorts and mountain towns in B.C. are not subject to vacancy or speculation taxes that have started to emerge in that province, and even buying at a U.S. ski resort is possible with financing through your Canadian bank.
Here are five questions to consider when buying a ski-vacation condo:
June 27, 2018 | Barb Livingstone
Scott Henderson has split his work time between clients in the Okanagan and those in his hometown of Calgary for the last 15 years.
Eight months ago, the marketing/communications agency owner got pre-qualified for a mortgage for a second residence in Kelowna. Then, this February, B.C.'s provincial government announced a speculation tax on out-of-province and foreign owners to discourage buy-up of housing by investors who, it claims, leave homes empty and drive up home prices. A homeowner can avoid the tax by living in, or renting out, the home half the year.
Aug. 05, 2016 | Marty Hope
Kelowna's healthy economy and population growth are driving resale home transactions up and fuelling higher levels of new home construction, suggesting a sellers' market, according to housing industry figures.
And the lure of the valley continues to draw buyers from Alberta despite the province's economic downturn.
The largest city in the Okanagan Valley of British Columbia, Kelowna has recorded nearly 3,600 sales for the first half of this year compared with slightly more than 2,700 a year ago, according to figures from Canada Mortgage and Housing Corp. (CMHC).