Naru Menon’s Blog
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Vancouver Real Estate Prices Rise Despite Historically Weak Sales
Greater Vancouver's real estate market is experiencing a paradox where home prices are rising despite low buyer demand. In March, the benchmark price for a typical home increased by 0.5% to $1,190,900, even as sales dropped 13.4% year-over-year, marking one of the weakest months in decades. New listings surged by 29%, leading to a significant…
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How to Protect Your Home From Ice Storm
Insulate pipes and maintain stable heating to prevent freezing and bursting during ice storms. Keep gutters, grates, and drainage systems clear to avoid ice buildup and potential water damage.
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Burnaby falls in Canada’s most expensive rentals
North Vancouver leads Canadian cities in rental prices, with one-bedroom units averaging $2,667 and two-bedrooms $3,471. Burnaby ranks fourth, with one-bedroom rents at $2,336 and two-bedrooms at $3,024, both down from last year. British Columbia remains the priciest province for rentals, averaging $2,480 overall. March saw a 1.5% month-over-month rent increase across Canada, driven by…
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BC Real Estate Sees Strong Start in 2025
In January 2025, BC saw 4,221 residential sales, ↑ 6.4% yearly. Active listings ↑ 27%, reaching ~31K, signalling a normalization in market trends.
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BC 2025: New Fees and Tax Changes
The BC home flipping tax now applies at 20% for properties sold within 365 days. Residential rent increases are capped at 3% for 2025, with tax credits available for renters.
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Estate Planning Tips
Effective estate planning is crucial for managing and distributing assets according to your wishes after death. Key steps include creating a will, establishing a trust, designating beneficiaries for financial accounts, assigning a power of attorney, and setting up a healthcare directive. Regularly review and update your estate plan, consider tax implications, and keep documents organized.…
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Burnaby Limits Housing Grants to 10% of Costs
Burnaby proposes updates to its housing grant program, introducing funding caps, tiered grant amounts, and eligibility restrictions. Maximum grants range from $5,000 for studios to $20,000 for larger units.
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How will Burnaby housing prices look in 2025? New data shows uncertainty
Sales in Metro Vancouver increased by 1.2% in 2024, reaching 26,561 transactions compared to 26,249 in 2023. In Burnaby, residential housing prices showed mixed results: Burnaby East at $1,131,000 (+0.6%), Burnaby North at $986,700 (-0.2%), and Burnaby South at $1,122,500 (+0.2%). Single-family homes were priced at $1,957,700 in Burnaby East (+0.3%), $2,133,100 in Burnaby North…
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Why BC Housing Prices Could Continue to Drop
B.C.'s housing market faces uncertainty due to tariff-related concerns in Q1 of 2025. Home price forecasts for B.C. have been revised downward for 2025, with expected declines.
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When Will BC Hosts Register Their Rentals?
BC launches bold rental crackdown—hosts must register by May 1, 2025, or lose their listings. The registry targets housing shortages by enforcing limits and requiring a visible provincial ID on listings.