January 2021

All posts from January 2021

Low Supply for Detached Homes Increases Prices

by Bevony on January 15, 2021 No comments

Sales for detached homes in greater Vancouver were up 70% in December 2020. Houses are being sold above asking price as more people are looking to purchase homes. With the low interest rates being offered, buyers are now able to increase their spending power. And the fact is there are just not enough homes, so when a home goes on the market, there is a flurry of potential buyers and most often the highest qualified bidder wins. 

The inventory as at January 2021 is at 2.7 months and whenever inventory goes below 4 months, the prices always rise. So all the sales increases we saw in 2020 were all due to a scarcity of inventory. 

What To Do If You Can’t Find a Home to Buy

Give us a call. Yes, no, really – do give us a call. Here at SilverBeam Homes we offer home building services. We can build you the home of your dreams, according to your specifications and on your budget. 

The truth is that the economy is not recovering as well as the housing market. And with so many changes in our lives we all now have different needs for our homes. Now more than ever families are having unique situations and needs and need their homes to fulfill those needs. 

When you choose to build your home you can create a design that will completely match your needs for your home. So is it that you need more office-like space? Do you now need your kids to have a dedicated space to have online classes? Do you now need more space in your kitchen because you are having to do more home cooking? All these and more are some of the questions you can ask yourself to determine what your home needs to have to serve you best. 

Maybe the idea you had for a dream home is no longer feasible due to our current situation with the pandemic. Maybe you have lost income and your dream of owning a home has been blighted. But before you decide you can no longer afford it, especially with the increases in house prices, give us a call. We may be able to help you make your dreams of homeownership a reality still. 

Are the Price Increases Really That Bad? 

You don’t have to take out words for it, take a look at the market yourself. Look at some listings, look at what the houses have to offer and look at those prices. The truth is that with this high demand and low inventory these high prices won’t be going away soon. Check in with the real estate agents on some of these houses and you will see that a lot of them have over asks and multiple offers. 

This is great news for sellers who can now really cash out of their homes and move on into a new era, but for buyers this can be disheartening news. 

If you need a home, give us a call. Don’t let these prices and this type of news deter you. Let us help you make your dream of owning a home a reality. 

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BevonyLow Supply for Detached Homes Increases Prices

The Home Renovation Market for Greater Vancouver

by Bevony on January 8, 2021 No comments

Not everybody is living in doom and gloom during the pandemic. Many are seeing the opportunities where they are and are moving to go and grab them. That is why people are looking to Surrey, Squamish and Coquitlam for home ownership. This is because the permitting times are shorter here. So one can purchase and renovate a home which is cheaper than buying a new one and can get the necessary work done in less time. 

How Do They Work So Fast on Renovating Shows?

How often do you watch home renovating shows? They can be really satisfying as you watch a property be transformed into a beautiful dwelling. But watching these shows and actually doing the process yourself are two different things. When it comes to the permitting process there are headaches and hiccups to be had. Even the pros on the shows have to submit like the rest of us but you just don’t see that part of the process. 

Waiting for Permits in Vancouver

Waiting for a building permit can take months. Often other things are filmed while they are waiting on the permits to be sorted. Also with multiple projects being worked on at the same time it is easier for them to provide the content without you seeing all the red tape they have to go through to get to the actual building and the actual transformation. 

Vancouver has a significant permit waiting time with some straightforward renovations waiting for up to a year. While there are people that are willing to wait for years for their homes, not everyone is like this. A Lot of this wait time is believed to be due to a backlog of applications. Over the past twenty years, the city of Vancouver has seen a number of new renovations and new builds. 

As professionals, we always warn our clients about the potential wait time when it comes to the permit process. We do all we can, so our clients are not stuck with a mortgage and house they can’t live in at the same time. But the reality is that this happens when you are not building your home from the ground up . So it would be a great idea for you to choose us to build your dream home. 

What to Do if You Want to Renovate

If you are looking to renovate we recommend you choose a home in one of these areas. They are Surrey, Squamish or Coquitlam as these areas have a shorter wait time when it comes to processing permits. These areas also offer more affordable prices as well for potential homeowners. 

We can help you make your dream of owning a home in Vancouver a reality. We are house builders for the Greater Vancouver and British Columbia areas. That home you have wanted with those specific design features does not have to elude you. Give us a call today, so we can set up consultations and show you how we can help make your dream a reality. 

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BevonyThe Home Renovation Market for Greater Vancouver