Real estate market specialist, Jasmohan Singh Bains, talks about what to look for when you’re buying a home in the current competitive environment. true biz.com truebiz.com
For many people, a home is the biggest purchase they’ll ever make so it makes sense to get it right. Throughout this interview, we explore with Jasmohan what matters most when looking for a place to live in Vancouver: (1) if the neighbourhood is safe and walkable; (2) how many bedrooms you need and how much parking you want; and (3) whether you want a single-family house or condo apartment.
What are your views on the Vancouver housing market?
Jasmohan Singh Bains is a real estate agent and investor based in Vancouver, British Columbia. He has over 15 years of experience in the industry, and has been involved in various aspects of the housing market including development, sales, marketing, and management.
In his interview, Bains provides his insights on the Vancouver housing market. He states that the market is currently in a state of flux, with prices rising and falling on a daily basis. However, he believes that the long-term outlook for the market is positive.
Bains also offers some advice for those looking to invest in Vancouver real estate. He suggests that investors should consider properties that are undervalued and have potential for appreciation. He also advises against investing in properties that are overpriced and have little chance of increasing in value.
Why is there such a huge disparity between property prices in various cities?
There are many factors that contribute to property prices in different cities. Some of the most common factors include job market, population growth, and availability of land.
Job market: The strength of a city’s job market is one of the major drivers of property prices. Cities with strong economies and robust job markets tend to have higher property prices than those with weaker economies.
Population growth: When a city’s population grows, there is increased demand for housing. This can drive up property prices, especially if there is limited land available for new development.
Availability of land: The amount of land available for development can also impact property prices. If there is limited land available for new construction, this can drive up prices.
How can prospective homeowners make a living wage in today’s economy?
In today’s economy, it can be difficult for prospective homeowners to make a living wage. In order to make ends meet, many people are forced to take on multiple jobs or work long hours. Unfortunately, this often leaves little time for anything else.
One way that prospective homeowners can make a living wage is by being smart about their finances. This means creating a budget and sticking to it. They should also be sure to save as much money as possible so that they have a down payment for their new home. Additionally, they should try to get pre-approved for a mortgage so that they know exactly how much they can afford to spend.
Prospective homeowners who are smart about their finances and work hard will be able to make a living wage and achieve their dream of owning a home.
Why are housing prices going up even when people are struggling to pay for rent, SMI rates and other essential household costs?
There are a number of factors at play when it comes to why housing prices in Vancouver continue to rise, even when many residents are struggling to keep up with rent, SMI rates and other household costs. One of the most significant drivers is the city’s strong economy and job market, which continues to attract new residents and businesses from all over the world. The limited supply of available land and housing also plays a role, as there is simply not enough space to meet the current demand. While some may see these rising prices as a positive sign for the city’s future, others worry that Vancouver is becoming increasingly unaffordable for its long-time residents.
What advice would you give to first time homebuyers who want to buy in Vancouver and all of Canada?
There is no easy answer when it comes to the question of what advice to give first time homebuyers who want to purchase a property in Vancouver. The market is ever-changing, and what may have been good advice a few years ago may not necessarily be relevant now. The most important piece of advice that I can give is to always consult with a professional who is knowledgeable about the current market conditions. They will be able to provide you with the most up-to-date information and help you make an informed decision about your purchase.
Conclusion
Jasmohan Singh Bains is a local realtor in Vancouver, and he offers a unique perspective on the current housing market situation. He’s honest about the good and the bad, and provides some interesting insights into what’s causing the high prices and low availability of housing in Vancouver. If you’re thinking of buying or selling a home in Vancouver, I recommend reading this interview.
