West Vancouver is a dream location for many homebuyers, boasting stunning landscapes, top-tier schools, and a vibrant community. However, navigating the home-buying process in this highly desirable area requires careful planning and informed decisions. If you’re looking to buy a house in West Vancouver, avoiding these common mistakes can save you time, money, and unnecessary stress.

1. Overlooking Financial Preparation

Buying a house is one of the most significant investments you'll ever make. Without proper financial preparation, you may face unexpected challenges, especially in a competitive market like West Vancouver.

Skipping Pre-Approval for a Mortgage

One of the most common mistakes is shopping for a house without knowing how much…

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Public Sector Leads Job Growth in November, Adding 45,000 New Positions

Before the release of today's Canadian Labour Force Data, the odds favoured a 25 basis point drop in the overnight policy rate when the Bank of Canada meets again on December 11th. The data showed more substantial than expected job creation, as the country added 51,000 net new positions in November compared to the expected rise of 25,000. However, nearly 90% of the job growth was in the public sector, dampening enthusiasm.

Public sector employment rose by 45,000 (+1.0%) in November and accounted for the majority of the overall employment gain in the month. The number of private sector employees and the number of self-employed people were both little changed in November.

The…

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There is an unprecedented disparity between the economic and financial situation in the US and Canada. The Canadian economy is far more interest-sensitive than the US and, therefore, slowed more dramatically in response to the Bank of Canada’s restrictive policy to bring inflation back to its 2% target level.

Job Market and Wage Inflation

The jobless rate in Canada has reached 6.5%, well above the level in the US, and job vacancy rates have plummeted. Wage inflation has been sticky at 4.9% but will likely edge downward in response to excess supply in the labour market.

Inflation Trends and Monetary Policy

Inflation accelerated to 2% y/y in October, compared to the cycle-low 1.6% in September, mainly because gasoline price deflation…

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As the new year approaches, it's a natural time to reflect on our personal goals and set resolutions for the months ahead. Your home and finances are key areas where small, intentional changes can lead to big improvements in security, stability, and quality of life.

Create a Realistic Home Budget

A well-planned budget is essential for financial peace of mind. Whether you're new to budgeting or want to refine your approach, creating a realistic budget helps prioritize spending, track bills, and put money toward meaningful goals.

  • Identify Fixed and Variable Expenses: List out fixed costs, like mortgage payments, utilities, and insurance, as well as variable ones, such as groceries and entertainment.
  • Set Savings Goals: Include savings as a…

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Fraser Valley Home Sales Returning to Seasonal Norms in November After October Surge

SURREY, BC – Following a healthy boost in sales in October, Fraser Valley home sales dropped in November as slower seasonal buying trends set in amid balanced market conditions.

The Fraser Valley Real Estate Board recorded 1,136 sales in November, down 15 per cent from October, but 28 per cent above November 2023 sales.

“Buying and selling activity is typically quiet at this time of year,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “But it’s worth noting that November 2024 sales are higher than they’ve been compared to the past two November — a sign that overall activity is picking up in the Fraser Valley and with it, growing buyer…

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Home Buyer Demand Continues to Strengthen in November

VANCOUVER, BC – December 3, 2024

Home sales registered in the MLS® in the Metro Vancouver market rose 28 percent year-over-year in November, building on the momentum of the 30 percent year-over-year increase seen in October.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totaled 2,181 in November 2024, a 28.1 per cent increase from the 1,702 sales recorded in November 2023. This was 12.8 per cent below the 10-year seasonal average (2,500).

“When we saw demand pick up in October, there was still a question over whether it was a blip in the data or the start of an emerging trend,” said Andrew Lis, GVR’s director of economics and data analytics. “While…

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Vancouver is often celebrated for its stunning landscapes, vibrant communities, and outdoor lifestyle. But is it equally friendly to our furry friends? If you’re a pet owner or thinking about getting a pet, this guide explores why Vancouver is a haven for pets and their humans.

Why Vancouver Is a Haven for Pet Owners

Vancouver’s pet-friendly vibe is reflected in its abundance of green spaces, welcoming policies, and community-minded culture. Let’s dive into the various ways this city makes life enjoyable for pets and their owners.

Parks and Green Spaces

Off-Leash Dog Parks

Vancouver is packed with off-leash dog parks where your pets can roam free. Top spots include Charleson Park and Fraser River Park, offering ample space and even…

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In the heart of Vancouver lies the iconic West End, a vibrant community celebrated for its eclectic charm, lush greenery, and proximity to both the bustling city center and serene waterfronts. If you’re considering a move or investment here, you’ve probably stumbled across MLS West End Vancouver listings. These properties range from cozy apartments to luxurious condominiums, showcasing the neighborhood’s diversity and appeal. But as 2024 unfolds, many prospective residents face a common dilemma: should they rent or buy in this coveted locale?

This guide delves into the pros and cons of both renting and buying, providing insights tailored to Vancouver’s unique real estate landscape.

The Case for Renting in the West End

Renting in the West End…

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Housing Markets Post Strong Rebound in October

Vancouver, BC – November 25, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,119 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in October 2024, up 33.5 per cent from October 2023. The average MLS® residential price in BC in October 2024 was up 0.3 per cent at $970,845 compared to an average price of $968,256 in October 2023.

The total sales dollar volume was $6.9 billion, a 33.8 per cent increase from the same time the previous year. BC MLS® unit sales were eight per cent lower than the ten-year average for October.

“While it took longer than expected, a recovery in home sales to more normal levels has seemingly arrived,” said BCREA…

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Canadian Retail Sales (September 2024)

Date: November 22, 2024

Canadian retail sales rose 0.4 per cent to $66.9 billion in September from the previous month. Compared to the same time last year, retail sales are up by 0.8 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, rose by 1.4 per cent month-over-month. In volume terms, adjusted for rising prices, retail sales rose 0.8 per cent in September.

For the third quarter of 2024, retail sales rose by 0.9 per cent overall and by 1.3 per cent in volume terms.

Regional Performance

Retail sales in British Columbia were up 0.6 per cent in September month-over-month, while down 0.5 per cent compared to the same time last year. In the CMA of Vancouver,…

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