To Buy or Not to Buy in Surrey, Langley and White Rock?

April 10, 2012 | By

With Vancouver and the surrounding cities of Surrey, Langley and White Rock being some of the most expensive real estate markets in Canada, purchasing decisions need to be carefully calculated.  Understanding interest rates and the variables that surround them, along with the real estate trends in housing prices, including which areas are most likely to increase in value are all factors when considering buying a home or investment property. The real estate market of today is no longer about simply buying a family home to spend the rest of your life in, rather it’s about feeling secure in your purchase decision and knowing that – if need be – one would be able to resell their home in order to relocate, backed by a fairly secure investment payoff.

There is a certain amount of time investment one needs to consider when purchasing a home, unless their intention is to make renovations and upgrades in hopes of flipping their investment for a profit. Those looking to purchase a primary home for their family to reside in must understand that it’s both a monetary investment and a time investment. Ideally, one should not purchase a home without the intention of living in it for anything less than 5 years; otherwise there will likely be an incremental loss.

When thinking of a home in one of Vancouver’s surrounding cities, it’s imperative to consider the area you want to live in and how it will affect your commute to work, your child’s school and activities, and your general feeling of “home” and community that the area offers. It’s one thing to buy a house; it’s another entirely to invest in a home.

Scott Olson, president of The Fraser Valley Real Estate Board, stated that: “Compared to last March, every community in Fraser Valley experienced a decrease in the sales of single family detached homes especially those priced at the higher-end; however Abbotsford, Langley and North Surrey all saw increases in the sale of townhomes.”

This is important information, and good news for those looking to buy in this ever popular and rapidly expanding area, and also for those who have purchased in recent years and are looking to sell.

To buy or not to buy isn’t a question that should instill fear; rather it’s about being prepared in your decision, and knowledgeable in your homeowner obligations. Knowing the pros and cons of buying in certain areas and being confident in your buying decisions.

Knowledgeable Realtors create happy homeowners!

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About the Author (Author Profile)

Andrew is a West Coast enthusiast through and through. He is a native of the area that you will often find adventuring on one of the many sea to sky activities that abound in the Fraser Valley. Along with being in love with the place he calls home, Andrew is a well known and respected Realtor focusing on helping others to find their own perfect home in Langley, Surrey, White Rock and beyond! Visit www.yourperfecthomebc.ca to find your perfect home.

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