With the ever increasing cost of living in the city more and more families or desiring homeowners are looking to buy outside the city. Surrey, Abbotsford, and the popular Skytrain towns are all increasing in size rapidly due to this wave of people looking elsewhere to buy.
Kristine and Tom Rajkowski are new home owners that recently bought a home in Clayton Heights Surrey. They both “we’re ecstatic,” says Kristine at being able to finally own a home, as whenever they looked at a house before they all had accepted offers.
The couple both in their early 30’s bought the 3,275 square-foot detached house for $617,000 built in 2009.
Some of the hottest spots for BC’s housing in the next few years are in communities such as: Clayton Heights, Cloverdale and Fleetwood as they are all closer to the city but with more affordable prices.
Moving east from Vancouver is Burnaby’s Brentwood, the Tri-Cities and the communities of Langley, Maple Ridge, Pitt Meadows and Abbotsford are all increasing quickly due to this flood of people looking for alternative places to own homes.
Housing prices in Vancouver’s West Side and West Vancouver are more than likely going to continue to rise due to land shortages in the area. The only places to build more houses is on land that already is already occupied.
While the price of land and homes is on the rise the price of condos may not be as more and more people are buying condos instead of detached houses due to high prices. The price of condominiums is not expected to rise as rapidly as detached homes.
Five spots on the Real Estate Investment Network’s Top 10 BC investment towns are currently communities found in the Lower Mainland.
2. Maple Ridge/Pit Meadows