Are you thinking of buying a house? Have you just bought one? Or sold one? You are not alone. All over the country people are picking up and shipping out. Sometimes they’re trying for greener pastures in another city, sometimes they’re getting out of the city in search of a simpler life. Picking up and changing cities is a huge life choice, and sometimes one that is very difficult to make. You may be thrilled about your move and excited to get going, but you could also have serious reservations about what’s happening. One thing is certain – you should have a good understanding of the real estate market in Canada if you’re going to be buying and selling a home.
This is by no means a comprehensive “status of Canadian real estate” article, but it should help provide you with a foundation of knowledge you can build upon so that you can make the best decisions when it comes to what might be the largest financial transaction of your life. In the past few months, overall numbers of sales have increased and overall purchase price has decreased. On its face, this looks much better for buyers than for sellers, but since you’re very often both – it’s actually a good thing. When prices drop even a fraction, potential buyers are much more likely to make an offer, and sellers are eager to make a sale quickly instead of hanging on for months in which the value of their home could decrease further.
In 2010, the national average price for a home was $344,551, but it varies wildly from province to province and city to city. The most expensive Canadian cities for buying a home right now are Montreal (QC), Kitchener-Waterloo (ON), Edmonton (AB), Ottawa (ON), and Hamilton (ON). Rest assured that great deals can be found in all of these cities, especially if you’re planning on living slightly away from the downtown core. Happily, the most popular cities to live in this year are Edmonton (AB), Vancouver (BC), Winnipeg (MB), Brandon (MB) and Fredericton (NB), only one of which appears on the most expensive list.
On the other hand, the least expensive cities in Canada right now include: Halifax (NS), Regina (MB), St-Catherine’s (ON), London (ON) and Winnipeg (MB). Of course, anywhere in the Maritimes is going to be a good bang for your buck, and anywhere on the west coast is going to be well worth it. The benefit of the West Coast is that there are more people, more jobs and more, newer homes available.
One of the most important things you can do to make selling and buying a home easy on yourself is to hire an experienced, trustworthy Real Estate Agent who can sort through the red tape and help you identify the really good deals. Let’s say that you’re going to be moving to Vancouver, a hugely popular destination city. A top-notch realtor will not only help you find a wonderful home, but they can also advise you on the best time of year to move, how to hire a Vancouver mover, when to start soliciting estimates for your move, whether or not going with a nearby Burnaby moving company is a better deal. They can help you figure out the municipal politics, and which neighbourhoods have the best school system. Truly, a skilled, caring Realtor is a wonderful resource.
