Rob Smashnuk

The housing prices in and around Vancouver have surpassed expected peaks and many are not sure if there is a ceiling in sight.  The cost of an average detached home within the Vancouver city limits has reached over $1.5 million – the highest that the area has ever seen to date.  On average, homes in the Greater Vancouver Area have reached numbers close to a million dollars.  The number of properties sold in the area (as of February) rose, and the price of an average home is constantly rising unpredictably in sharp spikes. Mayor Gregor Robertson has shown great concern over the housing situation and has committed time and energy to a federal and provincial team who are working hard to discover exactly which factors are the causes of the consistently rising real estate prices.  

In an attempt to hold off the ever-increasing rise in housing prices, Vancouver recently imposed a 15% land transfer tax on foreign buyers as well as a more difficult qualification process for all buyers. These tougher qualifications have been brought into play to ensure that potential homeowners can manage their mortgage payments should interest rates go up.   The Canada Revenue Agency is auditing tax forms in the hopes of limiting foreign buyers by making sure that those claiming the principal residence tax exemption are, in fact, living in the residence and not using the home as a rental property or 2nd home.   

The outlook for most experts shows a continued rise in Vancouver’s housing prices, and the rapid rate is also expected to stay consistent.  With a limited number of homes on the market and available to hopeful buyers, the competition is fierce.  Combine that with low interest rates that the population has enjoyed and a steady stream of immigration, and you have a case of demand far exceeding the supply.  The situation could be helped by an increase in available homes for sale or with a surge in new home development; something which has been slow.  A significant increase in new home development is not guaranteed this year, and there is an increasing popularity for the suggestion that rules and regulations be eased so that new development becomes lucrative again for builders.  This may be a more important factor over attempting to restrict any purchases by foreign buyers.  Reconsidering land-use designations to allow several different varieties of types of homes, and smoothing the development approvals and permit processes would alleviate the restrictions that builders often face.

The dream of home ownership will vanish for many in light of the inflated prices on even the most average sized homes.  Families see their adult children staying longer in the family home and couples starting their lives together will most often be renting their accommodations and perhaps holding off for years in the hopes of being able to someday afford even a small starter home.  Only time will tell what the future holds for Vancouver’s rising housing market.

The airline tickets are booked, bags are packed and your family is finally about to head out on a much-anticipated vacation, but that doesn’t mean you can forget about home sweet home just yet. Take a bit of time to follow these tips to deter a potential break-in and avoid home heartbreak.

Lighting

Deterring a potential intruder can be as simple as flicking on a switch. Mimic your daily routine by putting the interior house lights on a timer, that way from the outside it looks like business as usual inside. Installing external motion-detector lights also means sneaking up on the house is not an option.

Notes

While leaving notes on the backdoor (or on the counter that can be clearly seen from a window) for your dog sitter, gardener, caretaker or neighbour may be tempting when running out to catch your plane, don’t — it’s the clearest indication that no one’s home. The same goes for social-media sites. Do not broadcast your cool vacation plans online, as tempting as it is.

Sounds

If it looks and sounds like somebody’s home, burglars aren’t going to risk breaking and entering. Set up a radio or mp3 player on a timer so that it periodically plays music during normal waking hours. Place it by a likely entry point, such the backdoor or ground-floor window.

Phones

Intruders often check out a property a few times before making a move — a phone repeatedly ringing off the hook screams no one’s home. Put your landline on the lowest volume setting or call your telephone provider to see if they have a straight-to-messaging-system service that can be turned on while you’re out of town.

Mail

Newspapers piled on the lawn and flyers sticking out of the mail slot say, “I really like coupons and keeping up with current events but not right now because I’m on holiday.” Ask a neighbour to pick up any freebees that might be tossed into your driveway. Get your mail held at the post office and suspend your newspaper-delivery service while you’re away.

Snow

One of the reasons your family booked a trip to Hawaii (lucky you!) was to avoid that cold, white stuff for 10 days — but just because you don’t see it doesn’t mean it doesn’t exist. Keeping your paths clear of snow and ice is a clear sign someone’s at home, so arrange for prompt removal before heading out. Plus, in case of an emergency, crews can get to your front door easily.

Curtains

When leaving your home for an extended length of time, it’s a good idea to draw the curtains and blinds to the level you’d normally have them so nothing looks out of order. If you raise and lower them throughout the day, keep them closed at the back of the house in case a would-be burglar is looking for movement, but open them up at the front so neighbours can spot and report any suspicious activity.