Canadian Singles Taking The Plunge
With the census data released last week, the were some relevant statistics to people like us who monitor and pay attention to the Real Estate Market here in Vancouver, and Canada as a whole.
Data shows that one person house holds have increased, and now make up 27.6% of all homes in Canada. That is a three fold increase from 1961.
Low mortgage rates have been a huge driver, allowing younger people to enter the market. Younger people are staying in school for a longer period of time, they tend to get married later on in life – if at all, and older baby boomers are taking up new residences after splitting with their partner.
Experts are pointing out a couple of things that singles should be diligent about when it comes to purchesing on their own.
Obviously buying a property on your own has its benefits, you don’t have to run your decisions past anyone else, and you have a piece of Vancouver Real Estate that you can call your own, however the downside is that you are on your own should anything go wrong.
As we always recommend, real estate in Vancouver should be viewed as a long term investment, and one thing to bear in mind should be to look for a building that allows rentals, should you have to, or have the desire to move, you can continue to enjoy your investment.
Give us a call today with your questions and we can put a strategic plan in place to help you purchase your first property. Adam Chahl – 778 385 6141