Investing in the real estate market a focus for buyers

In Vancouver's thriving real estate market, buyers are finding innovative ways to purchase their dream home.

In Vancouver’s thriving real estate market, buyers are finding innovative ways to purchase their dream home. One of them is investing in a property in a growing area, allowing the original buyer to either rent out the home or sell it at a premium as the neighbourhood becomes more popular.

“With a growing population and increasingly high demand for real estate, the reality of what’s affordable and the dream location don’t always match,” says Shaadi Faris, vice-president of Intergulf Development Group. “Purchasing an affordable investment property in an emerging area is a means for more first-time buyers to get a leg-up in the market and work towards buying their ideal home in a more desirable location sooner.”

He cites the growing boom in real estate opportunities in Burnaby’s Metrotown as an example of buyers choosing to purchase in a vibrant area close to transit and education that will get them a return on their investment when they choose to sell or rent out the property.

“Buyers are becoming very savvy,” he says. “They want to know the price per square foot, what the strata fees are. They want to know what the opportunities are to build their investment.”

However, Faris points out that the amenities and features of a home can’t be ignored.

“People have to actually want to live there,” he says.

Faris has seen a difference in the kind of buyer as well.

“It’s a more mature condo market now,” he says. “People are more sophisticated in understanding the lingo and the product, and it’s imperative that there’s no wasted space, because every cent counts. Buyers are looking with that level of detail now; it’s not always an emotional purchase. There’s too much on the line.”

Intergulf has seen an increase in just such an interested buyer at their Burnaby project The Park Metrotown, which is located right in the heart of the area and will have the easy access to transit and education at BCIT and SFU that buyers are looking for.

“People know that it’s a smart place to invest,” Faris says.

Just Posted

Funicular or affordable housing? City of White Rock to ask for input from residents

The city has between $7.78 and $14 million to spend on capital projects

Filipino-Canadian artists featured in new ‘Green’ exhibit in Surrey

Opening reception Nov. 23 at Surrey Art Gallery

SURREY EVENTS: Rick Mercer here for ‘Comedy Night in Canada,’ and more

Concerts, festivals, plays and more in our weekly events guide for Surrey

Five accused in South Surrey torched-SUV killing ordered back to court in January

Bhavkiran Dhesi died in August 2017; five members of the same family are charged in connection with her death

Elgin Park grad steers UBC to women’s soccer title

Danielle Steer scores winning goal in championship game and semifinal

‘It’s been 12 years’: Father of murdered B.C. real estate agent pleads for mayor’s help

Lindsay Buziak was stabbed to death on Feb. 2, 2008 in Saanich. Her case is unsolved.

B.C. to restrict nicotine content, bring in 20% tax on vaping products

Province will also restrict candy and fruit flavoured vaping products to adult-only stores

B.C. woman sends fight to reduce preventable medical errors to Victoria

Teri McGrath and South Okanagan senior’s centre members presented 150 signature petition to local MLA

B.C. First Nation Chief Ed John faces historic sex charges

John served as minister for children and families under then-premier Ujjah Dosanjh

Nearly half of B.C. drivers nervous in winter conditions: BCAA

‘Wait and see’ approach common practice for 32% of B.C. motorists

Yelling at your dog might hurt its long-term mental health: study

Researchers find dogs trained using negative reinforcement are more ‘pessimistic’

At least 3 hurt in California school shooting, gunman sought

Los Angeles County Sheriff’s Department looking for a male suspect in black clothing was seen at the location

Most Read

l -->