Vancouver Condo

In 2009, Vancouver City Hall placed a moratorium on Vancouver condo new construction downtown. This Vancouver condo policy is intended to guide downtown development for the next 20 years, and we don’t know yet what mix of office and residential planners will recommend for the next big build-out downtown area, Northeast False Creek.

What does that mean for the average buyer or seller of a Vancouver condo? If a mixed-use Vancouver condo development can help preserve a heritage site or residential hotel or if it’s a particularly large site then building will be allowed. But it may also mean higher prices for the average Vancouver condo because fewer will be on the market.

What does this mean for you? If you’re investing in a Vancouver condo, make sure you choose carefully so that you can resell it in the future. The home you are considering may be tidy and attractive inside and out, but how does it compare to the surrounding area? Explore the neighborhood, keeping an eye open for signs of neglect (overgrown lawns, houses in need of paint, trash and junked appliances littering yards). No matter how diligent you are in the upkeep of your property, a run-down neighborhood can drive your property value down. This way, your Vancouver condo will have a long-term potential for you, both now and in the future.