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Finding an apartment in British Columbia

 

Renting an apartment in British Columbia can be a positive, affordable experience that may include a month’s free utilities or no down payment which is especially appealing to college students and retirees on a limited income. Young couples may also start out by taking this step in order free themselves from the worry of maintaining a home and paying property taxes. Those who manage apartment complexes must abide by government-regulated standards and keep them well-maintained for the occupants.

 

Apartment options of every type to suit every budget are available in Vancouver. They range from large, luxurious downtown apartments and lofts (furnished and unfurnished), to charming, low-rise apartments throughout the city. Vancouver’s mass public transportation, known as “Skytrain,” has been renovated, making it possible for residents to commute as far as Surrey, and many new apartments have been constructed as a result.

 

Current market trends in British Columbia

 

Lower mortgage rates, combined with lower prices, have cause a substantial increase in the number of condo sales, a decrease in MLS listings and a rise in market prices and values. After a lull, developers and buyers are opening new condo buildings, and all of this indicates confidence in Vancouver’s top-level real estate market.

 

CTV in British Columbia recently reported that first-time home buyers are now driving the condo market, and prices have fallen roughly 15% during the past year. Prices range from $155,000 in Chilliwack to $325,000 for a 1,000-sqaure-foot condo in Greater Vancouver. They can also use the stimulus of a $750 tax credit, and they can now take $25,000 from their Registered Retirement Savings Plan (RRSP).