Vancouver is one of the beautiful cities in the world. The lifestyle and the surroundings make the quality of life very desirable. However, all of this beauty does come at a price. Vancouver is not the cheapest city to live in and purchasing your first home takes a lot of planning. Here are some factors to consider before buying your first property.
Know the Neighborhoods
First-time buyers often make the mistake of looking at price and square footage only. They completely forget about where potential properties are located and how this can affect the property values of their homes. Some of the cheapest places to live are Main Street and Hastings, Chinatown, and the East Side of Downtown. Although purchasing a home in these areas will be cheap, you also have to contend with crime and safety issues. Don't consider price alone when looking for your first property.
Consider Other Costs
On the opposite end of the spectrum are the higher end areas of Vancouver. Kitsilano, Yaletown, and the West Side of Vancouver offer safety and luxury in abundance. Unfortunately, they also offer high property taxes, astronomical strata fees, and a general higher cost of living. On top of being able to afford a more expensive home, you have to be able to afford all of the extra costs surrounding it.
Look for Happy Mediums
Not all neighborhoods in Vancouver are either higher end or crime-infested areas. There are places where a happy medium can be reached. For example, Marpole and South Granville offer modestly priced homes in relatively safe areas. Acquaint yourself with these neighborhoods and decide which ones you can afford and would want to live in.
Consider Areas outside the Vancouver Core
The terrific thing about the Lower Mainland is that the surrounding cities offer wonderful things as well. For example, Burnaby is right next to Vancouver and it offers safety and reasonably priced properties. New Westminster is a hub for hip and young families that are just starting out. Look into the suburbs ฝากขายคอนโด for great properties, good neighborhoods, and reasonable prices.
Purchasing your first home should be one of the most exciting times in your life. You have to be aware of housing prices and property value before you make any final decisions. When looking into the Vancouver market, it is important to know which neighborhoods offer exactly what you are looking for. This will ensure that your first purchase is a wise and financially sound one.
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