Should I Wait for Interest Rates to Drop Before Buying?

Many buyers hesitate, hoping rates will fall. But waiting isn’t always the best strategy. Rate Drops Don’t Always Lower Prices When rates fall, buyer competition increases. Lower borrowing costs often push prices upward again. Buying During Higher Rates Can Mean Less Competition Fewer bidders = bett

How Does the Stress Test Affect My Mortgage Approval?

The stress test ensures buyers can afford their mortgage if rates rise. It affects qualification significantly. How It Works You must qualify at the higher of: The Bank of Canada benchmark rate Your contract rate + 2% Impact on Buying Power Most buyers qualify for less than they expect. This influen

How Much Do I Need for a Down Payment in B.C.?

Down payment requirements in British Columbia depend on the price of the home. Minimum Down Payment Rules Under $500,000: 5% $500,000–$999,999: 5% on the first $500,000, 10% on the rest $1,000,000 and above: 20% minimum Why Many Buyers Choose 20% Avoid mortgage insurance Lower monthly payments More

What’s the Real Difference Between Freehold and Leasehold in Vancouver?

The difference impacts pricing, financing, and long-term planning. Freehold You own the land and the structure. This typically offers stronger appreciation and easier resale. Leasehold You own the structure but lease the land for a fixed number of years. Leasehold is cheaper upfront but may limit re