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Purchasing a new construction home in Vancouver has been a popular option for decades. But the process of purchasing new construction is fraught with risk for potential buyers.

Most buyers are completely unaware of the dangers of buying new construction in Vancouver. That’s true of people moving to Vancouver as well as those already living in Vancouver.

In this video I detail the 10 dangers of buying a new construction home in Vancouver…whether it’s a presale condo, a new townhouse or a new construction house…this video is going to be invaluable to you if you are considering buying a new home in Vancouver.

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Vancouver Real Estate – Monthly Market Update – Infographic – March 2024

The quick start to the year stalled a bit in March.

Sales rose to 709 which was up +13.6% from February but down -4.3% from a year ago. This was also a very significant -30% below the 10-year average.

While sales continue to increase month over month as we enter the busier spring market, they are trending down vs the 10-year average.

New Listings reached 1,576 which was +7.5% higher than February and +13.7% higher than a year ago. It was also down -6.9% from the 10-year average. Meanwhile, total active listings rose to 3,432 which was +15.5% over the 10-year average.

The result is that despite sales being behind where we normally are, supply of homes is dropping. That drop in supply is putting upward pressure on prices.

In fact, most market segments have shifted into a seller's market. The only segment still showing a degree of weakness are westside houses...but even there prices are rising.

Every category of home in Vancouver jumped up in price from February (most significantly East Vancouver...

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Half-duplexes have become one of the most popular options for families living in Vancouver. As prices continue to rise, owning a single family detached home in Vancouver is no longer feasible for many. A house in Vancouver has become only viable for those with extremely deep pockets.

So if you are moving to Vancouver what are your options?

Not everyone is suited for condo living. Many people tire of all the rules, the lack of privacy, minimal outdoor space and the monthly maintenance fees. And if you have kids, you may want more than just two bedrooms. So what do you do?

Townhouses are also an option. However, they aren’t quite right for many living in Vancouver either. Maintenance fees, lack of individual garages and limited outdoor space can all issues for potential buyers. Is there any other alternative, though?

The answer is, YES. The classic Vancouver half-duplex can be a perfect fit for buyers looking for something more than a condo but not quite a house. For many buyers...
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