Strong Start to 2016
If you own a home and saw your 2016 Tax Assessment, I bet you were pleasantly surprised! Throughout Greater Vancouver, many homes increased in value from 10%-25%. Now is one of the best times to sell your home if you want top dollar. If you want to see how your property compared to the rest of the area, see the online Video Below.
British Columbia Property Assessments by Region
Important News for Home Buyers
Down Payment Rule Changes In Effect Feb 15, 2016:
“The minimum down payment for new insured mortgages will increase from 5% to 10% for the portion of the house price above $500,000, the finance ministry wrote. Minimum down payment for properties up to $500,000 will remain at 5%. The changes are meant to reduce taxpayer exposure while supporting long-term stability of the housing market, according to the ministry.”