Want an affordable home? Move to Northern B.C., invites real estate board

Posted by Michael La Prairie on Monday, March 19th, 2018 at 1:04pm.

If you dream of owning a spacious detached home on a large lot, it can be yours for a fraction of the cost of those in Metro Vancouver and the capital region, according to a new report by the B.C. Northern Real Estate Board.

The catch? You’ll have to move to a smaller, northern community such as 100-Mile House, Smithers or Williams Lake, where such properties are still highly affordable.

A recently released annual report commissioned by the board is touting the affordability of its real estate in 2017 compared with the Lower Mainland and Greater Victoria – presumably with the hope of attracting newcomers to its communities.

An affordability indicator, calculated by the report authors as a percentage of typical local household income spent on typical local housing costs – such as mortgage payments, utilities and taxes – reveals the huge disparity between the northern B.C. cities and the two major southern metropolises.

Continue reading Want an affordable home? Move to Northern B.C., invites real estate board at Vancouver Courier website

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