New Richmond homes at Am-Pri’s Mezzo ›› p.4
Enjoy a South Surrey location and lifestyle at Citimark’s Enclave ›› p.8
July 15, 2010
Starts at steady pace in June, reports CMHC Builders were busy throughout Metro Vancouver in June. Canada Mortgage and Housing Corporation reports that 1,250 housing starts were recorded in June in the Vancouver Census Metropolitan Area, bringing the total number of starts for the first half of 2010 to 6,881 homes. “We have a steady pace of new projects breaking ground, and together with a significant increase in the value of residential building Robyn Adamache permits recorded in May, we are well on track for total housing in 2010 to surpass “We are well starts the 10,000 mark,” says on track CMHC senior market analyst Robyn Adfor total amache. housing The current rate starts in suggests that the region will remain under the 2010 to 10-year average level of surpass 15,360 units, Adamache the 10,000 notes, but she adds that rental housing starts mark.” are up. “Rental housing units have totalled 475 units so far this year, surpassing the levels seen for the same period over the past five years,” Adamache says. “Given the steady pace of immigration adding to the region’s population, builders are responding to demand for this type of housing.” Nationally, housing starts were down slightly in June, slipping to 189,300 units (seasonally adjusted at annual rates, or SAAR). In urban British Columbia, the rate of housing starts moved higher during the month of June, edging up 6.3 per cent to 23,600 units SAAR.
Even if homebuyers are purchasing a brand-new home in Metro Vancouver, there’s still a lot of research and prep work they can do before buying, says South Surrey realtor Sarah Daniels. Martin Knowles photo
Preparing to purchase new On the house hunt: even if it’s new, there’s still questions to ask MAGGIE CALLOWAY You have decided that this time when you move, you want to buy a new home. You are looking forward to living in a home with brand-new everything – from furnace to roof – instead of worrying about
what is lurking behind the walls of an older home. New homes have warranties, which are a major comfort, but homebuyers should always conduct due diligence and research on the builder or developer they choose. Visiting homes or developments where the chosen builder has built in the past and asking questions about the quality of work, and the builder’s response to concerns, is always a good idea. This is the biggest purchase in many homeowners’ lives, and it deserves at
least as much research before buying as any other financial commitment. Even when purchasing a new home, there are things homebuyers must be aware of, both financial and practical. An ideal first step is figuring out what you can afford. Visit your lender and have a frank discussion about your financial situation now and in the foreseeable future. Getting a CONTINUED ON P.2