Real Estate Increases in the Lower Mainland
Everything is looking up these days for Vancouverites. The weather is getting warmer, the ski hills are still covered in snow and the Canucks are through to the second round. But the biggest reason for Vancouverites to be thankful, especially if you are a homeowner, is property values are up as high as 17.14%.
Area Assessor Jason Grant estimates that the average Vancouver home will see increases between 10 and 20%.
This graph shows the changes in specific districts in the Lower Mainland:
Even if you are not planning on selling in the near future, home assessment increases can still improve your present financial situation.
‘How?’ you ask.
By applying for a home equity loan, you can borrow money based on the amount left in your mortgage and the current assessed value of your home. When values increase, you can borrow more money.
That’s more money for you to spend on home renovations, your business and or your children’s future.
Vancouver’s most trusted home equity loan specialists are Alpine Credits. Talk to them today about using your home’s increased value to your benefit.
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