VANCOUVER (NEWS1130) - Do you dream of one day affording your own home or dying to upgrade your existing one? But how do you buy into the country's most expensive market?
At
Invis-Feisal and Associates in Cloverdale, senior mortgage consultant Feisal Panjwani says buyers are finding ways to finance homes that are $800,000. He says kids are asking parents to buy in with them, siblings are increasingly teaming up, and even friends are going in on detached homes together, sharing a space and the burden of a big mortgage.
Panjwani adds pooling resources is an increasingly popular choice for first time buyers in Metro Vancouver's most expensive areas that now extend out to Langley.
He says with the current price of housing in the region, and incomes where they are, unless a couple has a large down payment backed up by an especially big paycheque, it's getting more and more difficult to qualify without help.