The Canadian government’s recent mortgage reforms are nothing but a small impediment to people in search of luxury properties. An official from RE/MAX Ontario-Atlantic Canada, who was quoted in a Vancouver Sun report, said low interest rates and fluctuations in the stock market have become a potent combination that attracts domestic and foreign investors who want tangible assets such as luxury houses. A Toronto realtor added that people seeking properties worth millions have more than enough money to spend, generating a rather active market.
If you can tolerate the frequent rains and microclimates, Vancouver could offer you a load of surprises. Aside from hosting the Winter Olympics three years ago, the Govenment’s strengths lie in its multicultural populace, pristine surroundings, and the topnotch service of its business establishments, which all seems attractive to people seeking comfortable living conditions. When you want to put in a significant portion of your hard-earned money into some affordable Vancouver luxury real estate and you don’t mind the government’s mortgage regulations, an established realtor, such as Jean SÃ©guin, can guide you in the right direction.
Sometimes, checking out a realtor’s listings saves you precious time in tracking down your ideal luxury property, enabling you to gather more details than you would by simply scouring the classifieds. From modest homes to penthouses located in Greater Vancouver’s swanky districts, you’re sure to find a listed property that will suit your needs. If you’re gunning for a flat worth at least a million dollars, for example, your realtor can find you properties at that price range that suit your particular needs.
Your realtor employs a mortgage calculator to help you figure out how the size of the loan to take out. During calculation, the 25-year maximum amortization period (down from 30 years) for insured mortgages, and the limiting government-backed mortgage insurance to homes under $1 million are taken into consideration. Finance Minister Jim Flaherty introduced the said changes to Canada’s mortgage rules last year to regulate the booming market.
Although sales of various types of high-end properties vary from place to place, a professional realtor like Jean SÃ©guin can alert you on attractive Vancouver luxury homes for sale as soon as the market conditions are right. A reputable realtor will take into account your preferences for location, architecture, and price.
When you’re looking for a real estate investment that guarantees profit, it’s vital to know which properties fit your budget, and which ones are likely to appreciate in value. While sales in Vancouver are slightly lagging behind other major cities in Canada, it only means you have more options to consider with the guidance of a realtor who will still work with you long after you close a deal.