FAQs - Frequently Asked Questions
on Vancouver Real Estate

WHERE IS THE BEST PLACE TO BUY REAL ESTATE IN VANCOUVER?
By far, the most desirable area to live in Vancouver is the westside. That includes Fairview Slopes, False Creek, Kitsilano, Dunbar, Point Gray and UBC which are the most popular. The reason is proximity to downtown, beach and ocean-side properties, or ocean view properties which are popular in Kits, park land, good schools, quaint café neighbourhoods, old-growth forests, old homes with manicured lawns, low crime, sailing clubs, sea-side walking and biking trails.

I'M MOVING TO VANCOUVER AND I'M WONDERING IF I SHOULD RENT OR BUY A HOME FIRST?
Realtors in Vancouver generally do not deal in rental properties, but I can tell you that the vacancy rate is less than 1% - that means you'll have to take whatever apartment you can find and you'll pay a hefty price for one too. If you want to live in the east end, or in the suburbs such as Surrey, there is availability and the prices are more reasonable. The trade off of course, is lifestyle and quality of life. Considering the vacancy rate and the advantages to owning a home in Canada, my advise is to put your money into your own property not someone else's.

WHY HAVE PRICES SKY-ROCKETED IN WHISTLER?
Whistler is one of those fabulous resort towns you just want to keep coming back to for holidays. In the winter, the skiing is unparalleled anywhere in the world. In the spring, people flock from all across the globe to watch the bears descend the mountains and breathe the fresh Rocky Mountain air or golf or ski on the glaciers. In the summer, mountain biking is a popular choice as is lake swimming or hiking. And in the fall, you can do almost anything at Whistler. It truly is a year-round, fun place to holiday. Consequently, investors have bought chalets and condos by the thousands in the past few years. The land available for building is strictly controlled and is at approximately 85% capacity so prices have remained high.

WHAT ARE THE RULES FOR BUYING PROPERTY IN WHISTLER OR VANCOUVER IF YOU DON'T LIVE IN CANADA?
If you require financing, you must have a mortgage with a Canadian-based financial institution. In order to obtain that financing, you must have 35% of the cost of the property as a cash deposit. And you must be present in Canada to sign the closing documents with the bank or have a document notarizing the procedure performed in your country.

WHAT IS THE BEST TYPE OF INVESTMENT PROPERTY TO BUY IN B.C.?
There are several types of property in B.C. such as land, strata title, native title, freehold, leasehold, etc. Since you're interested in an investment property, I would recommend Whistler, which has yielded returns above 15% in the past two years.

HOW DO I GO ABOUT BUYING REAL ESTATE IN WHISTLER - SOME PLACE I CAN USE FOR TWO WEEKS A YEAR AND RENT OUT FOR THE REMAINDER OF THE TIME?
Once you've determined your price and arranged financing, I can help you choose an investment, depending upon what your specifications are with respect to proximity to ski hills, water, number of bedrooms, etc. There are several property management company at Whistler that can manage your property for a 10-15% fee while you're away.