Why the Vancouver Luxury Real Estate is a Subject of Interest to Foreign Investors

There has been an increase in interest for Vancouver luxury real estate by foreign investors. In fact, research shows that approximately forty percent of the total investors in this market are not local residents of the city of Vancouver but come from abroad. Most oversea clients in this vibrant property market are based in the South-East Asia, Europe, Australia, the U.S as well as South America. Moreover, according to a survey conducted recently, Arabs from Tunisia, Egypt as well as Bahrain have also invested heavily in this market.

Although Chinese investors flood to purchase Vancouver luxury properties, top homes in this city have been scooped away by Iranian and American citizens. The glorious location of luxurious homes has been one of the reasons this Canadian city has witnessed an influx of investors from foreign lands. The homes are built in lush neighborhoods with top notch security, social facilities as well as various amenities.

The Vancouver luxury real estate market is always booming with business throughout the year with high rise buildings always coming up in the best areas of the city. The economy of this city, Vancouver, has been stable for many years and this also explains the ever lasting interest in our market. In fact, according to a study into this market, several homes were sold out even during the times when the economy was experiencing a downturn. Nothing stopped the wealthy investors from the various foreign countries from purchasing homes of their choice.

The architects, designers, masons and interior designers in Canada’swest coast city of Vancouver are among the best in the world. They build world-class residential and commercial buildings that none or a few real estate markets in the global market can beat. The variety of types of properties for sale cannot go unmentioned. Investors and buyers have a wide array of properties for sale to select from; for instance, a home buyer has access to various residential homes ranging from condos to apartments. The Vancouver luxury real estate properties also come in different sizes to suit distinct clientele needs and established budget.

Vancouver, one of three major cites in Canada that have some of the most expensive properties  across the world . This shows that investors are guaranteed high returns on their investments on property in the lavish Vancouver luxury real estate. The city is also booming with many real estate agents with a rich history and experience helping buyers and investors find and purchase the right property. 

Please feel free to leave a comment. Don't hesitate to contact jean@vancouvercanadahomes with any questions.

Vancouver Weather

Vancouver weather is a factor When buying a home, it can be easy to overlook year-around weather issues. You may think you are purchasing a home in a sunny area, but come to find there is always a heavy cloud cover. This is just one of a number of weather issues to consider when selecting your dream home.

Clouds...Rain...Floods

If you must have a sun deck in the Vancouver area as part of your new home, you better make sure it is going to be sunny! Just because a general geographic area has a lot of sun doesn't mean your home will. Things to look for include fog and heavy cloud cover for a home in a valley. If the home is located on the side of a hill or valley, make sure you know when it will get sun and shade. Vancouver weather temperatures can be radically different depending upon the amount of sun you get.

When it rains, it really pours! One potential nasty surprise for new homeowners can be the condition of a neighborhood after it rains. Even an inch of rain can flood streets to the point that you can't drive at all. Make sure you stop by a gas station or local store to ask about flooding problems in the area.

I have been known to enjoy the beach and spending time on the water and perhaps you do as well. I am pretty sure neither of us would enjoy it in our house. Still, millions of people a year buy homes in flood plains without even knowing it. Eventually, this can lead to a disaster when heavy rains come and you find out the reason they call it a flood plain.

Unlike streets with bad drainage, floods are much more damaging. When a river overflows, flood levels are typically measured in feet. Can you image the effect on your home of a flood that reaches five feet in depth? Well, you probably always wanted to renovate the first floor of your home.

Mother nature has a way of doing whatever she wants. Make sure you avoid her grumpy spells by looking into the effect of Vancouver weather on your prospective dream home.

To find your dream home check this great google maps interactive tool http://vancouvercanadahomes.com/recip.html/.

Please feel free to give me your thoughts on the Vancouver weather!

These are my personal tips that you should consider when buying a  property. 

1) Research is the key

Always do research. You can never do enough research. A lot of people dive into the property market head first and blind folded, and that’s when people make bad purchases. If you like a property, find out about the surrounding area; find out the local crime rate, find out how much properties in the area recently sold for. Find out EVERYTHING. There are tonnes of websites out there that will give you all these details at no cost. Start with my website http://vancouvercanadahomes.com

2) Prepare yourself financially

Financially prepare yourself before you make any offers- get financially sorted. Make sure you can afford the property. Make sure you have taken every cost into consideration, like conveyancing solicitors, stamp duty, survery fees, Real  Estate Agent fees etc. Most importantly, make sure you can get the financial backing you need.

3) Structural Survey

Always get a structural survey or inspection done. With the newer homes, the basic or mid-ranged survey is fine. But with older properties, definitely get the higher-level inspection. Sure this may add expenses onto your limited budget, but it could potentially save you thousands. Regardless, most Mortgage lenders will insist on a structural survey and inspection, as they won’t want to help you finance a house that’s about to fall apart.

4) Property fittings

Make sure you ask what comes with the property before you make an offer. A lot of houses are presented beautifully, especially with fitted bathrooms and kitchens. You may get a nasty shock when you move in only to find the previous owners took the fittings with them.

5) Stay away from the asking price

Never offer the asking price, unless it is known that you are in a competing offer situation, even if you’re in love with a particular property. Sellers/ Real Estate Agents usually add on a few thousand pounds from the actual value of the property, because they expect offers to always be below asking price. Be risky, and make a cheeky offer- you maybe surprised.

6) The Property Market

Find out how long a property has been on the market for from your Vancouver REALTOR®. If a property you’re in love with has been on the market for a long period of time, ask yourself why; be suspicious. If the property is legit, and for some odd reason it’s not selling, then make a low offer.

7) Control your emotions

Never act overly keen to either the seller or your Real Estate Agent. The REALTOR® and seller both have one thing in common- they want the buyer to spend as much as possible. Remember, the Real Estate Agent is working for the seller, not the buyer. If you act overly keen, they will make you spend more money than necessary. Buying property is like playing a game of poker- you need to play the game with a face of stone.

8.) Be patient

Don’t let your patience get the better of you. Never rush into buying a property; buying a house is a big deal and will effect your life. There is an art to buying property, and patience is a big part of it. Impatience leads to expensive and inadequate purchases. If your patience is the direct reason of losing out on a deal, don’t worry, properties come and go on the market. On the other hand, your impatience could be the direct reason of making a bad purchase, and consequently throwing your money down the drain.

9) The future is important

Think about the unforeseeable future. The property market is a very uncertain area. Interest rates can increase at any time, and that will have direct impact on your monthly mortgage repayments. You may be out of work for a period of time, would you still be able to afford the monthly mortgage payments?

10) An empty property looks so much different

Imagine the property is empty- do not be fooled by props a seller has strategically planned. Once a house is stripped from all it’s wrapping, you maybe surprised how different it looks. Check behind and under the furniture, because you never know what surprises maybe hidden away- peeling wallpaper, stained carpets etc.

11) Don’t forget your neigbourhood

Are you looking for a peaceful area? Remember, an Real Estate Agent is working with the seller to get a maximum sale value- they will arrange viewings at optimum times. When you view a property, the surrounding area may be quiet and peaceful. Consider what the noise maybe like at times you haven’t been there.

12) Damp properties

Smell for dampness. Touch the walls; feel if they’re damp. Always be suspicious if a home is overly heated and sprayed with overpowering fragrances.

13) The roof can be costly to fix

Check the tiles on the roof. A lot of people neglect the roof when inspecting a house, and that’s exactly where a lot of people have to shell out a lot of expenses. This especially applies to older properties.

14) Location is just as important as the property

Finding the dream house is always great. But what about your dream location? Does it contain all your essentials, like a local groceries, schools etc. Don’t just focus on the property; focus on the bigger picture. Make sure the local area is equipped for your requirements.

15) Shop around for property

You can never find the right property after one viewing; even if you think otherwise. Make sure you take your time looking at several difference properties. Don’t just look in one area, be a little open minded and open yourself to possibilities. You’ll get a better idea of what your hard earned cash can actually get you.

Yours Truly,

Jean Seguin