Naru Menon’s Blog

New BC tax imposes up to 20% on home sales within 730 days, reshaping real estate investments. This legislation aims to slow quick resales to support housing affordability.

How to sell luxury real estate? Market knowledge, the right agent, and staging are essential for success. Why hire a luxury agent? They have market expertise and a network to maximize your sale.

Hire a Real Estate Lawyer Early: Secure legal guidance to review documents and avoid costly mistakes in your home purchase.Understand the Agreement: Thoroughly review the Agreement of Purchase and Sale to ensure compliance and protect your interests.

Understand First-Time Homebuyer Criteria Not owned a home in past 4 years. Seek legal advice on qualification for incentives. Understand Your Mortgage Options Fixed vs. Variable rates 5-year fixed rates are popular Consider the loan term and amortization

Consult a REALTOR®: A local agent helps price your home correctly and attract potential buyers. Complete Repairs: Fix any outstanding issues, like leaky faucets or worn-out flooring, for a polished look.

BC’s Real Estate market faces uncertainty due to rising costs and potential economic disruptions in 2025. Housing costs in BC have ↑ 30% over the past five years, impacting affordability.

BC plans to accelerate housing construction by removing financial barriers and expediting building permit approvals.New policies support small-scale multi-unit housing to increase density and address affordability challenges.

Northern BC home sales are projected to reach 4,200 units in 2025, ↑ 4% yearly. Lower interest rates may boost sales, with the BoC expected to cut rates to 3%.