Buying home in West Vancouver

(October 28, 2013 )

Buying a home in West Vancouver or anywhere else for that matter, just remember: if you are buying a home, you are making two purchases. Yes, two.  You are buying the home, and you are buying the money to buy the home!  The house is one big purchase but the loan itself is also a significant piece of the transaction.

Did you know: For every 1% rise in interest rates, home prices must fall by 10% in order for you to maintain the same monthly mortgage payment?
The monthly payment is what you need to be looking at.  Can you afford the monthly payment and still live life?  So take advantage of low rates; they add much more buying power to your purchase than low prices.