What's it actually like to buy property in Canada? What's the market like and what should you expect, real estate wise? While you might be thinking Toronto is the America-est city, the west side of Canada is booming. Multicultural populations, culture and activities, and of course the outdoors are what might draw you to Vancouver and the surrounding area. Three of the top realtors from the Pacific Northwest gave me the scoop. First the good news:
"Living in the Pacific Northwest is truly a dream come true. Life in this area is just generally happier! With the quality of life being higher than more suburban areas of the state homes tend to hold value. Low crime, good schools, clean water, and of course the amazing views that can't be missed. Our job is made easier living in such a wonderful community with so much to offer." The Mayo Home Team
And now the bad, though this might be the perfect time to begin investing in Canadian real estate due to a slumping market:
"After a robust Spring and early Summer real estate market sales began to slow mid summer in Langley and the Fraser Valley. In early August the BC government brought in a foreign buyer's tax to help slow the market however sales were already slowing. July 2016 sales had slowed from June 2016 as we were experiencing a typical summer slowdown. Fall sales are usually lower in number than the spring and that is likely to be similar again this year. Prices remain stable despite the lower number of sales. We are not seeing the number of multiple offers we had seen in the spring and summer and the intensity as we had seen it has gone out of the market but homes continue to sell. The lower mainland of BC remains a very popular place to live and with limited supply due to geographical constraints and government regulation our real estate market although always subject to ups and downs will remain a good long term investment." Sherman Foster
"The Calgary condo market has been on a bumpy road with a number of new projects coming to completion in the Downtown, East Village and Beltline communities. In my opinion most buyers are sitting on the sidelines waiting for some sort of positive signs to come out in regards to the oil and gas sector coupled with the alberta economy in general. My advise to my clients is to make sure you are educated on the areas you are interested in, their preferred layouts, size, number of bedrooms and even to narrow it down to a particular building. They should also become familiar with what the average price per square foot is for that development. That way when they see a good deal or their ideal property comes available they are prepared to make an informed decision." Jesse Davies
So if you're thinking that the future of the US is in peril and it's time to abandon ship, now might be the time to start taking a look at the market in the Pacific Northwest. Or you could stay here and help improve what you think needs fixed. You know, either or.
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