Naru Menon’s Blog

  • Over 13,000 rental homes currently in progress in Coquitlam

    Over 13,000 rental homes currently in progress in Coquitlam

    The City of Coquitlam is advancing secured purpose-built rental housing, with over 13,000 units in progress. This includes 2,225 homes under construction, 445 below-market units, and 11,000 homes in the development application process. Concerns have been raised about new provincial legislation impacting housing supply and affordability. Continue to full article

  • Federal Funding Boosts BC’s Affordable Housing Plan

    Federal Funding Boosts BC’s Affordable Housing Plan

    Federal government announces $2B for BC Builds, a program to build rental homes on public land. BC Builds aims to create 8K to 10K new homes for middle-income earners in BC communities.

  • What Are BC’s Preferred Homeownership Approaches in 2024?

    What Are BC’s Preferred Homeownership Approaches in 2024?

    Homebuyers in B.C. and Western Canada explore creative options amid affordability challenges. In Western Canada, secondary suites are popular for extra income from renters, along with joint tenancy and tenants in common.

  • Check out this open house Listing Address: 202 9978 148 STREET

    Welcome to your oasis at Highpoint Garden! This stunning concrete building boasts full rain screening,ensuring durability and peace of mind for years to come. Step into luxury with this spacious 2-bedroom, 2-bathroom unit. One parking and One Storage Locker.New paint Indulge in resort-style living with unparalleled amenities, including an inviting outdoor pool, relaxing hot tub,…

  • Canada to Allow 30-Year Mortgages for First-Time Homebuyers

    Canada to Allow 30-Year Mortgages for First-Time Homebuyers

    Monthly payments become more manageable for young Canadians aiming for homeownership. Some advocate for broader eligibility, expressing concerns about effectiveness in high-priced markets.The industry expects a significant impact, potentially spurring more construction and aiding rental market relief.

  • B.C.’s New Home-Flipping Tax Highlights

    B.C.’s New Home-Flipping Tax Highlights

    Introducing a 20% tax on homes sold within the first year to deter speculation. Tax takes effect Jan. 1, 2025, decreasing over two years of ownership.

  • Low vacancy squeezes Metro Vancouver retailers seeking space

    Low vacancy squeezes Metro Vancouver retailers seeking space

    Suburban retail vacancy remains low in Metro Vancouver, with limited space for retailers and restaurant owners. Large floorplate options are even scarcer, with sites like CF Pacific Centre having significant vacant space. Downtown Vancouver retail is strong, but faces challenges due to office vacancies and reduced tourism. New developments like The Post and Oakridge Park…

  • How do you find a lender who can pre-approve you fast?

    How do you find a lender who can pre-approve you fast?

    Tips for first-time home buyers on getting pre-approved for a mortgage quickly: Talk to a loan officer for guidance, ask for referrals from friends, review your credit report for errors, gather necessary documentation, work with one mortgage professional to find the best option, consider interest rates, fees, and customer service when choosing a lender. Continue…

  • Affordable Housing Markets in British Columbia

    Affordable Housing Markets in British Columbia

    Kamloops: Avg home price around $620K; diverse economy with opportunities in various industries.Sooke: Avg home price approximately $679,700; picturesque coastal town offering a laid-back lifestyle.

  • Housing Market Activity in BC Picks up to Start 2024

    Housing Market Activity in BC Picks up to Start 2024

    BCREA reports 3,979 residential unit sales in January 2024, ↑ 29.4% yearly. Avg residential price in BC ↑ 10.5% to $957,909 in January, compared to the low-point of $866,922 in the past 2-yr.