Twenty seven per cent of British Columbians lived with family before buying their first home over the past two years, according to a survey released Thursday.
The national survey of 1,893 first-time buyers found that of those who moved straight from their B.C. family home to their new home 58 per cent had paid rent, and of those 45 per cent paid below market rent. The survey by mortgage insurer Genworth Canada and realty company Royal LePage also found that 58 per cent of Vancouverites surveyed had been anxious that their down payment would not give them the home they had wanted.
In Vancouver, 54 per cent of respondents chose to buy a more expensive, smaller home located close to where they or their spouse worked compared to 46 per cent across B.C. “There will always be an attraction to buy in the city centre,” said Adil Dinani, real estate adviser with Royal LePage West. “In Greater Vancouver, there are newly-developed urban amenities and transportation infrastructure that increase the desirability of homes outside the core. These high density hubs create opportunities for people who are new to the market; they can embrace urban living with more space and connection to transit.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: globeandmail - 🏆 5. / 92 Read more »
Source: CP24 - 🏆 30. / 67 Read more »