Monica Romey : Royal LePage Wolstencroft Realty : Archived blog posts for : August 2024 : page 2

New property listed in Guildford, North Surrey

Posted on August 7, 2024 by Monica Romey

Posted in Guildford, North Surrey Real Estate

New property listed in Guildford, North Surrey

I have listed a new property at 9679 155 ST in Surrey. See details here

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Despite affordability challenges, a quarter of Canadian renters plan to get a foot on the property ladder in the next two years.

Posted on August 3, 2024 by Monica Romey

27% of Renters Plan to Buy Property Within Two Years

A recent Royal LePage survey reveals that 27% of Canadian renters plan to buy a home within the next two years. This jumps to 40% for those aged 18 to 34. However, 69% of renters have no immediate plans to purchase, mainly due to insufficient income.

Phil Soper, President and CEO of Royal LePage, highlights that high mortgage rates and housing shortages are significant obstacles for many renters aiming to become homeowners.

Renters Consider Homeownership Before Leasing

Nearly a third of renters considered buying a home before signing their lease, but 41% decided to rent due to insufficient down payments. Other reasons include waiting for lower interest rates (33%) and property prices (30%), saving for a down payment (22%), and not qualifying for a mortgage (20%).

High Rental Costs for Canadians

Rental costs are a major burden for many Canadians. 36% of renters spend up to 30% of their income on rent, 37% spend 31-50%, and 16% spend more than half. In Vancouver and Toronto, these figures are 27% and 19%, respectively.

The Canadian Mortgage and Housing Corporation reports an 8% increase in rent for two-bedroom units over the past year, with vacancy rates at just 1.5% for purpose-built rentals and 0.9% for condo apartments.

Soper emphasizes the need for innovative solutions from the housing industry and government to address housing affordability and supply issues.

Key Highlights from the Royal LePage 2024 Canadian Renters Report:

50% of renters planning to buy within two years expect to have a down payment of less than 20%.
53% will use long-term savings for their down payment.
44% believe they can afford a home in their current city, while 37% do not.
In British Columbia, 25% of renters spend over half their income on rent, above the national average of 16%.

Ready to Make the Move to Homeownership?

If you're one of the many renters looking to buy a home, we can help you navigate the process. Contact us today to get started on your journey to homeownership. Let’s turn your homeownership dreams into reality!

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New property listed in Cloverdale BC, Cloverdale

Posted on August 2, 2024 by Monica Romey

Posted in Cloverdale BC, Cloverdale Real Estate

New property listed in Cloverdale BC, Cloverdale

I have listed a new property at 43 17706 60 AVE in Surrey. See details here

Whoppertunity here !! Welcome to popular & affordable Clover Park Gardens. This is an Exceptional investment , perfect for 1st time buyer, retirement or serves as an excellent rental for investor to hold for a possible Strata Wind-up in future. One can set own rental rate as home is currently Vacant. Lots of remodeling has been done. This is a Spacious unique 1 bdrm split level townhome with New paint ,carpets and Kitchen cabinets, Situated in a superior quiet location within complex. It is a top floor unit with a huge south facing sundeck overlooking massive grassy court yard. Easy walk to shopping Transportation & schools. Laundry facilities are on site. Please note heat & hot water included in strata fees.Pet friendly complex. Won't disappoint Easy to show and well worth a look!!

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Open House. Open House on Sunday, August 4, 2024 2:00PM - 4:00PM

Posted on August 2, 2024 by Monica Romey

Posted in White Rock, South Surrey White Rock Real Estate

Please visit our Open House at 15411 RUSSELL AVE in White Rock. See details here

Open House on Sunday, August 4, 2024 2:00PM - 4:00PM

Location Location location ! Welcome to popular problem free & sought after "The Courtyards" an exceptional duplex style, gated townhome community in the heart of White Rock & just a short walk to shopping, restaurants, transit, medical, dental & just minutes away from white rock beach, white rock elementary & Earl Marriott secondary This gorgeous 4 bdrm 3 bathrm home boasts a superb spacious layout with big master bdrm & full ensuite,a bright kitchen loaded with cabinetry, Huge Greatroom with a cosy gas fireplace & sliding glass doors leading to private patio & landscaped yard to enjoy morning coffee or evening BBQ's. Fabulous custom tiki bar in bsmt recrm (easily 4th bdrm) finished in bsmt, Large side x side dble garage Private entrance off Russell Security gated community a 10 !

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Open House. Open House on Sunday, August 4, 2024 2:00PM - 4:00PM

Posted on August 2, 2024 by Monica Romey

Posted in Sullivan Station, Surrey Real Estate

Please visit our Open House at 14285 61B ST in Surrey. See details here

Open House on Sunday, August 4, 2024 2:00PM - 4:00PM

Location location!Popular family oriented community BELLPOINTE's Final release.3 gorgeous homes nestled in quiet C-D-S beside park with stunning mountain views. These spectacular heritage inspired 2 storey plus finished bsmts feature"rare"bright W/O daylight bsmts Including a spacious 2 bdrm legal suite plus sep media rm & bath.Incredible finishing boasts Deluxe Gourmet style kitchen plus seperate spice kitchen both loaded with raised panel white cabinetry,quartz counters,huge island center & SS appliances.Impressive main floor with 10ft ceiling a massive Great Rm with F/C tiled gas fireplace with BI cabinetry & shelving.4 bdrms up with deluxe Master with 5 piece ensuite,large WI closet& brilliant mountain view.Fabulous daylight w/o bsmts boast spacious bright 2 bdrm legal suite. A 10 !

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