Move to Vancouver

Thinking of moving to Vancouver?

In search of the exciting lifestyle and amazing working opportunities? You are on a right track!

With 20% down, you can buy an affordable apartment or a townhouse and pay less than an average monthly rent in the same community!

Don't forget - when you sell, you will collect not just your downpayment, but also an accumulated equity which could amount to another 10% of your home value if sold after 5 years!

AND, don't forget, with average inflation of 3%, your home market value will be even higher than what you have paid when you bought it and that will cover your property taxes, selling commission and moving expenses.

AND, you don't even have to rely on a market hype! But if you do, you could make another additional 10% of your home market value.

Still does not sound like a WIN-WIN scenario? Then you are not serious about your future financial security.

Example:

You bought a 1 bedroom unit for $380K in Downtown. With Downpayment of $76K and monthly payments of $1,500 (based on 3.5% int rate, monthly payments and 25 year amortization), in 5 years you will accumulate another $40,000 in home equity and if home prices will go up by only 10% in 5 years (currently, the value of similar homes increased by 17% in 3 years), you will enjoy an additional $38,000. So, after 5 years of owning, you will have $76K plus $40K plus $38K=$154K. (Bank costs - $49K covered in $1,500 monthly mortgage payments).

Dislcaimer:This data serves for illustrative purposes only and is reliable only if market conditions remain the same.

What would happen if you rent a similar unit for 5 years for $1,500 per month? You will be short by $90,000.