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New Pre-Construction Homes & Condos Brentwood Bay BC

Is owning an investment property in Brentwood Bay, British Columbia profitable?
In early July 2018, I was sitting down talking about my real estate agent's latest client who had just purchased an awesome house located in the heart of the community; Brentwood bay. He said something like this "I'm really glad I finally made the decision to move". My first thought was 'well he could always sell his property'. However, after spending some quality time observing the area I saw many other people living happily in homes they bought years ago. So I decided to ask him why exactly did he buy? His response was 'because the prices aren't going anywhere'. At which point I thought "why would anyone pay premium for an address?" I then shared my thoughts with him and the reason why I feel so strongly about buying in today's market and we began planning a trip that summer to see houses around us. We went through several properties and found some great ones that ended up being perfect choices for us because of location, square footage, layout, size, amenities and price! As luck would have it, I landed myself a deal in our search and ended up getting a house that turned into a wonderful place for me to raise my family. A few days after settling in the neighbourhood, I noticed an ad come across the screen of my phone advertising Brentwood Bay Homes for Sale. I quickly responded and got connected with someone who took care of everything for me from viewing photos, negotiating, signing documents, finalising escrow and closing dates right down to helping me pick out paint colors and carpeting! All while staying true to my original intent of finding the cheapest priced property possible without sacrificing anything else. This experience left me feeling extremely lucky for having stumbled upon the best priced and most affordable home available. While searching for houses online today, I often wonder "where am I meant to be living"? If it wasn't for the fact that real estate agents are no longer necessary and for those times when I get caught asking friends where should I invest my dollars, I'd probably still rent... But I won't settle for less than excellent service and a beautiful home... And that's something worth fighting for. Here's hoping everyone realizes they're fortunate enough to live in a world class city filled with friendly neighbours, top notch schools & parks, amazing coffee shops, unique eateries, trendy boutiques & high end stores, incredible cultural events/festivals, breathtaking coastline and a wide array of things to do in Vancouver Island. And that these assets will continue to attract newcomers and keep them coming back long after our kids leave town :) [IMAGE: Screenshot of Property Price Indexes] [/CONTENTEND] About Us XONDO provides Canadians with the tools they need to find a home loan tailored specifically for them — whether it’s mortgage financing, insurance products, mortgages and refinancing options including government loans, personal cash advances, reverse mortgages, or lines of credit. Whether you’re shopping around for a mortgage or considering switching banks, XONDO offers competitive rates, personalized customer service and transparent fees. Visit www.xondoinc.ca or call 1 855 553 0999 to speak with a dedicated team member. #home #mortgage #insurance #reversemortgage #l...
New Home Brentwood Bay Buying 101
If you haven’t already decided which neighbourhood to buy your next house in, I suggest getting familiar with them first. For me, this was a no brainer but you might prefer something else! Whatever floats your boat — go for it. However, I would strongly recommend finding some people who have purchased homes nearby to get real estate tips or feedback on their experiences. I did this while working my way through the MLS listings near my current location. At first, I felt overwhelmed by all the choices. After talking to a few friends, colleagues, neighbors and fellow Realtors though, most recommended just narrowing down your search geographically. In other words, find a city block or area instead of searching for every single address listed for each listing. Once narrowed down, check out individual houses. Don’t rush; take the time you need to research your options thoroughly until you feel confident enough to buy. I promise, it will be worth it. Now you’ve got two questions left to answer. First question: Should you rent or should you own? Second Question: Should you live close to work or farther away? For those who like to travel, having a great commute does wonders for stress levels and family relationships. On the flip side, living closer to work gives you a leg up on saving big bucks on transportation costs. This is probably obvious. If you decide to rent, just ask yourself whether you want to put down roots somewhere or simply spend time commuting daily back and forth across town. Asking myself and many others around me this exact same question helped clarify things for me — living close made sense because I love being able to walk everywhere without feeling guilty! And since I chose to live further away, I enjoy spending quality time at my parents place after work, making trips across town less frequent. So the bottom line is: it depends on you and depending upon your situation, either choice could work perfectly well. Just keep in mind there are tradeoffs involved either way. ...
When buying a new home in British Columbia follow these steps
Brentwood Bay is located approximately 30 minutes southwest of Vancouver BC along Highway 99 near Chilliwack and West Kelowna. There are currently 8 condominium apartment buildings under development, including 2 high end luxury developments. Most units will be ready to move into in 2020/21 but expect some availability by Summer 2023. [IMAGE: Map of Brentwood Bay in Canada] In addition to these projects being built now, other large scale redevelopment initiatives are in the planning stages throughout the entire area which could result in significant price increases for existing homes. So what makes this community stand out? 1.) Affordable housing: It's no secret that Vancouver Island suffers greatly from unaffordable real estate prices, especially during peak season periods like summer months and holidays like Christmas and Easter. At Xondonoworld our philosophy is "if they're building them they must be doing something right". And while there aren't many new condos available yet, there are plenty that remain unfurnished. So why wouldn't you buy an empty house in Brentwood bay instead of another expensive rental unit somewhere else? We've seen people rent properties out for $1000+ per week just to stay afloat. But once you get yourself a property, you'll pay less than half of those rates. Our average sale price for a single family home was in the mid-$400k range in 2018 and is projected to increase further in 2019. If you've got good credit history, are motivated towards self-sufficiency and enjoy working with new technologies then this could well become your neighbourhood. 2.) Community pride: For years developers tried to lure residents away from North Delta by offering higher priced apartments at nearby locations such as Langley City and Pitt Meadows however, Brentwood Bay offers great opportunities for residents who live close enough to commute without having to travel long distances every day. As mentioned previously most of the new residential communities under construction offer amenities such as schools, parks and shopping centers that you couldn't possibly find anywhere else. This gives you peace of mind knowing you won't have to leave the community to go to work unless you absolutely need to. This is especially true since there are already several bus routes operating through Brentwood Bay and the nearest Sky Train Station is only 10 mins drive away. 3.) Location: One thing I noticed early on after moving here is that everyone seemed happy where they lived and I wasn't able to figure out why until I realized that all my neighbours had jobs and commutes that kept them within reasonable distances of each other. There are a few exceptions though if you prefer living within walking distance of shops rather than being forced to spend more gas driving to Costco than necessary. 4.) Amenities: While all of the above may be attractive to potential buyers, none of them really matter except perhaps proximity to where you'd like to raise children or retire comfortably. However, there are numerous additional things to consider that come packaged with being part of Brentwood Bay. First being that there are multiple golf courses nearby for both men & women alike. Not to mention that the local elementary school boasts excellent academic programs for grades K-6th grade, as well as the secondary school for grades 7-12th grade. Then you factor in...
How to find Your New Brentwood Bay Home or Condo
In order to understand why real estate prices in Calgary are skyrocketing so quickly it helps to take a step back and examine history. For the past few years, Canada housing market as a whole was enjoying strong growth due to increased demand for homes following the 2008 financial crisis, especially among Canadians who had lost their jobs since then but still wanted to purchase a house. But this trend reversed towards 2019 after several months of declining sales numbers across Canadian cities, including Edmonton which saw home values decline by 1% last fall. Many experts attribute the reversal to a slowing economy caused largely by rising interest rates. As the unemployment rate rose to record highs last summer, some economists warned that interest rates could rise further thus making buying a home less attractive because most mortgages come with variable rates meaning monthly payments would naturally go higher each year. While many homeowners believe they should be able to sell their houses once the economic times get better, others are worried that if markets continue to slow down, they will find themselves unable to sell their properties. There is no denying though, that buying a property during these troubling times is certainly different than doing so at other points in recent memory. Even more interesting is that according to statistics provided by Royal LePage® Brokerage Services Ltd. from 2018 on average buyers in Canada spent $836,000 USD per newly built unit while those in Greater Vancouver spent just over $788,400 USD. On top of that, home sales nationwide reached nearly 100,000 units — 1 millionth total sale recorded for 2016 — while only reaching 60, 000 transactions in 2013 (the lowest amount since the early 1980s). On the opposite side of things, homebuilders in Ontario experienced a 13 percent increase in building permits issued in August 2018 versus 2017, while BC developers reported increasing revenue for five consecutive quarters starting March 2016 with a whopping 36 percent hike compared to 2015 levels. A great way to find a bargain in today’s market is through an active MLS®, Multiple Listing Service ®. Some experts estimate the value of listings held in the system to exceed $120 billion CAD, however only 25% of them remain unsold for long periods of time. Other ways investors can benefit from investing in the Canadian housing sector include purchasing preconstruction and resale projects instead of conventional condos and single family dwellings respectively; the latter being generally considered the highest quality product in terms of affordability but without the same advantages like having neighbours right around the corner you may wish to live next door to. And finally, another reason why people buy condos and semi-detached homes is because it gives them flexibility as well as the convenience of living close to work and schools. So whether you prefer living near transit lines or want quick accessibility to grocery stores and shops, condominiums often suit your needs better than traditional buildings because they offer an assortment of floorplans, varying sizes and styles ranging from studios to four bedrooms plus den. [IMAGE: Calgary skyline | source photo/shutterstock ] Overall, the housing industry in Alberta continues to flourish as Canada prepares to welcome hundreds of thousands of immigrants to fill positions vacated by Canadian citizens moving abroad. Although foreign workers represent only 2 percent of overall employment in Alberta, they account for 12 percent of vacancies posted...
Why is British Columbia's Real Estate Market Booming?
In this edition of XONDO's Guide, we'll be taking a closer look at some great opportunities for investors in the Coaldale area and beyond. We've got lots of information on new homes being built in the city, and a few other areas outside town, including a couple projects currently underway in nearby communities like Red Deer. If these locations interest you, keep reading! First things first... what exactly does "new" mean anyway? When people talk about buying a new house they usually refer to something being either newly constructed or newly renovated. But what's really going on behind those words? And why should someone bother investing in a brand spanking new structure? Is it just a better way to live than what they already own? Or is it simply more expensive? Well, that depends on who you ask. But we're happy to answer questions for those interested in knowing more about the ins and outs of the new housing market. What makes a new building different than a renovated one? Newly constructed buildings tend to be larger in size. They often boast higher floorplans and greater square footage, which means more space for living and entertaining. Newer structures often come with newer appliances, fixtures, finishes, amenities, and features -- everything but the foundation and roofing materials themselves. So while it sounds good to get a whole lot of bang for your buck, the real key word is "bang." New houses typically cost significantly more to construct, making them far pricier to buy than older properties. However, that extra cash goes towards things like quality finishes and better insulation -- both of which help lower energy usage. And because they aren't old yet, they don't carry the stigma attached to older residences that can limit resales down the line. As a result, new builds are typically easier sells when the time comes to sell. [IMAGES: House images with description on left side and price tag at bottom] How much will I pay for a new house versus a pre-owned property? This question is always a toughie. On the one hand, new construction tends to offer more options in terms of design. A builder can go wild with his imagination, designing a dream residence that suits your family perfectly without having to worry about any limitations imposed by a seller. On the flipside though, you could end up paying a ton of money for something that isn't quite perfect. For example, you may find yourself wanting to customize a kitchen renovation project that costs thousands of dollars more because the original designer wasn't able to incorporate certain upgrades that would really enhance the overall experience in the long run. If you're willing to take that gamble, then by all means go ahead and purchase a new house, but make sure you weigh the potential risks before jumping headlong into the decision. What else do I need to consider when shopping around for a new place? While the above factors play a role in whether or not it makes sense financially for you to invest in a new house, there are several additional variables worth considering as well. For starters, location is king. While it seems obvious that a house near work would be ideal, it turns out this isn't...
New Construction Investment Opportunities in Brentwood Bay British Columbia
Brentwood Bay was founded as part of the original land grant for Fort Langley around 1846. Fort Langley is located just outside Vancouver on the Fraser River which connects through Surrey and Burnaby to Port Moody on Burrard Inlet. The area offers stunning views of the sea, mountains, forests and farmland. It is surrounded by other Vancouver suburbs including White Rock, Oakridge, Delta, Richmond, Cloverdale and West Vancouver. There are several small villages nearby including North Cowichan/Duncan, Duncan Mills and Chemainus. When buying a home in this region it should be noted that prices range anywhere from $650K upwards depending on location, size and proximity to amenities like schools, shopping centers, restaurants and transportation options. For example, homes along Sea Island Drive near the beach typically sell in excess of half a million dollars while those further inland will command lower values. A great place to find inspiration would be the neighbourhood on Dunsmuir Street called ‘Coaldale’. If you’d prefer something slightly older than newer homes then take a walk down the road and check out some of these charming historic properties: http://www.coaldaleforum.ca/history/. If you live close enough to Vancouver International Airport (YVR), there are plenty of affordable homes available. These areas tend to be well established neighborhoods but they are still considered desirable with lots of potential upside. Some examples include: https://en.wikipedia.org/wiki/Burnaby_North_(Neighbourhood). For most homeowners who buy a property without a realtor the price depends largely on square footage (sq ft.) and condition of the house. However, if you decide to hire a realtor they will usually charge anywhere from 1% to 3 % of cost when listing your home. So for example, if you pay 10k for your listing fee then you are paying roughly 100 per cent commission to the agent. On average though I estimate that the buyer pays only 50 per cent of total cost for selling a home because the remaining amount goes towards repairs and renovations. Most people also spend less than 5% towards staging and photography. In terms of mortgage rates, a recent Bank of Canada report indicates a rate increase from 2.5%, currently sitting at 2.3%. While it’s unlikely the bank would go back down, it could mean higher interest payments going forward. We expect that as long bond yields move higher so will Canadian fixed rate mortgages. ...
Examining Real Estate Market History in British Columbia
Brentwood Bay, British Columbia Home ownership is becoming less popular amongst Canadians than ever before. Statistics released earlier this year showed that the average price paid for homes fell 3 per cent across Canada as demand continues to drop. And yet, home prices continue to rise faster outside of Metro Vancouver where most people live. In fact, according to a recent report from Royal LePage, the median cost of entry-level homes sold in the Greater Toronto Area was $1 million while the same statistic for Edmonton was just under half that amount—$500,000. Even smaller cities like Calgary saw similar increases. But you shouldn’t feel bad living elsewhere in Canada since you can still get some value for your buck in these areas. While many buyers will be searching for the perfect ‘bargain find’ they should understand that buying into a neighbourhood like Brentwood Bay won’t come cheap. But as long as you’re prepared to invest wisely then you could end up owning a great property in no time. Coaldale, Alberta If you’re planning on getting involved in real estate investing, it makes sense to begin by picking an area where housing costs aren’t going through the roof. As you explore different neighbourhoods you’ll quickly discover which ones offer excellent values relative to other regions across North America, but one thing’s important to bear in mind. A good place to buy isn’t always a location with lots of amenities and entertainment options nearby. That’s because some communities lack things you expect in a typical urban setting such as restaurants, grocery stores, schools, parks, shopping centres, gyms, cinemas, museums, art galleries, etc. So instead of focusing exclusively on those types of places, consider finding an affordable community whose primary draw is being close enough to work or study so you don’t spend every day travelling back and forth. For example, a lot of residents around the world commute to bigger cities because they’d rather enjoy life in places where there is plenty to see and do. If that sounds appealing to you, you could try Coaldale, located roughly 100 kilometres northeast of Edmonton. [IMAGE: Map showing home locations near Edmonton ] [IMAGE: Real Estate Prices in Coaldale vs Edmonton and Other Places Across Canada] ...
Getting approved for your New Home Purchase in Brentwood Bay, British Columbia
This article provides the most current information available regarding investing in real estate in the Canadian province of British Columbia. In this report, I am providing my recommendations, along with some additional research findings, which will help investors decide whether investing in real estate makes sense in British Columbia. I will provide updates to these reports annually as market conditions warrant. For example, in early 2019, interest rates started rising and mortgage stress was increasing rapidly across Canada. As a result, many people decided they should sell their properties rather than wait until the next year for the markets to improve even further. Since then, interest rates have remained relatively stable while demand continues to be strong. However, as we enter 2020, it remains unclear if these trends will continue, especially considering the UCP government’s recent changes to the tax regime. Therefore, I recommend waiting until market activity improves significantly before deciding that investing in real estate is not worth the effort. Another reason why I believe investing in real estate does NOT make economic sense in British Columbia today is because of the high cost associated with land prices. Land values in BC have historically risen faster in relation to GDP growth than anywhere else in North America. This trend began during the 1990s housing boom, but continued through the 2000s and early 2010 decade. During those years, average annual house price increases averaged 4 percent per annum. By contrast, the average rate of inflation since 1980 in the US and Canada is just 1% per annum. So, over that same period, average house prices increased by a factor of 8 times faster in British Columbian cities like Vancouver, Victoria and Kelowna than they did on average across both countries. If you live somewhere other than Vancouver, it could take several decades, or longer, for land prices to catch up to the rest of the country (if ever). If you live somewhere outside of BC, consider the fact that you cannot buy your own piece of land unless you already possess a lot of capital. And, if you do not yet have enough wealth, buying land in a region where land values are still comparatively cheap would simply mean wasting your time and resources without achieving anything meaningful. [IMAGE: A map showing where people purchase homes in Coaldale, Alberta ] In conclusion, the following questions should serve as guidelines to assist readers determine whether to invest in real estate in British Columbia today: 1. Can you afford to spend $250K-$500k+ on land without selling something first? If yes, then great! But, if no, then it probably won’t work out well economically. 2. Does BC offer good financial returns relative to inflation? The answer depends on where exactly you reside. In general terms, I would say “yes” if you live in a city with a population density greater than 100 persons per km². Otherwise, the answer would depend heavily upon local factors, e.g., proximity to transportation routes, etc. 3. Do you understand how inflation affects your net return from investing in the stock market? If you answered ‘no’ to question 2 above, then perhaps you should reconsider investing in stocks instead. 4. Are you willing to accept higher risks to...
What makes Xondo British Columbia's Most Convenient New Condo/Home Buying Platform?
In order to get started, you'll first be asked to select your preferred lender(s). Once this step completes, you will receive personalized recommendations and quotes tailored specifically to your needs. We've made selecting financing quick, convenient and affordable through our online mortgage portal. Our team of mortgage brokers and lenders are ready to help answer questions about mortgages, credit scores and financial history. [IMAGE: screenshot showing "How to Find Your Mortgage Broker"] After submitting your details we'll connect you to local mortgage providers who offer competitive rates and terms. We're committed to providing the most affordable options available with no hidden fees. And since we operate with transparent commission models, our customers always benefit from savings in the long run without having to sacrifice service quality. If after reviewing multiple offers you decide to proceed with buying a property, simply complete the transaction online and our mortgage broker specialists work diligently behind the scenes to ensure you close on time without issue. If you'd prefer, you can speak to us over phone by calling toll-free 1 844 888 4X0 and we'll walk you through everything you need to know. To view our full list of lending partners click below. [IMG_20170806_170545.jpg](https://www1.xondonline.com/wp-content/uploads/2017/07/img_20170806_170545.jpg)" /> ...
How Xondo makes Home Buying & New Construction Investing in Brentwood Bay Easy?
If buying a real estate property is something you’d like to take part in but you aren’t quite ready to buy a house just yet, then investing in rental properties could be exactly what you would be needing. If you haven’t already bought a piece of land yet and you feel the same way, this article will help you get started down the path to becoming a landlord. This post will outline how to find potential tenants, negotiate the lease terms, prepare the building structure, keep everything tidy, how to market the building effectively and most importantly; how to avoid common mistakes landlords often face while running their business. These lessons apply whether you own multiple buildings, just 1 building or only intend to invest in a single building. So without further ado, let’s dive into some tips you should consider implementing if you ever decide to become a landlord. In order to successfully run a profitable business (whether you own several homes or 1), you must be able to attract qualified tenants who are willing to pay rent every month. Finding people willing to live under roof in someone else’s living space is called “finding good renters”, which is actually quite similar to finding quality employees who will work for you. As long as they’re good workers, they’re generally happy to provide value to the company and earn enough compensation. So when thinking of what qualities to search for in prospective tenants, first ask yourself these questions: Do I want somebody who pays attention to details? Is being clean acceptable to me? Does this person seem trustworthy? Am I okay having them around my family members and pets? Once you figure out what traits you prefer, try searching online for ‘rental tenant requirements near me’. Some websites allow you to filter searches according to location, price range, size of dwelling, amenities offered, etc. After narrowing down your choices according to your preference, use sites like Craigslist to communicate through message boards and see if you can find suitable candidates. Be careful though because many scammers exist online. A few tips to protect yourself against fraudulent activity include: Never send cash via wire transfer services and always confirm payment methods prior to accepting payments from tenants, especially during initial communication. Ask tenants to email proof of identification upon request. Always meet potential tenants in local locations to verify identity and background information. Now that you found a couple of potential tenants, talk to each other to agree on a fair monthly rate of rent, discuss the tenancy agreement and make sure both parties understand clearly how things function in the household. Then make a signed copy of the agreement available to each party and leave them on display. After signing the documents, ensure that you receive a copy back from the client. When making copies of these agreements, make sure you make 2 identical originals. One document will go with you to your bank and another with the client. Make note of important dates as well as any terms that have changed since the original signature was made and make sure those changes are documented properly. Remember that if anything should happen after these documents are signed, there won’t be a record of that event unless you kept track of it separately. Also double check to ensure that...
How To Make Money On a New Home or Condo Purchases in Brentwood Bay, British Columbia
In this edition of ‘How To Make Money On A New Home Purchase’, we will be sharing tips on making money during every stage of buying a new property in Edmonton and Calgary. We have taken great care to ensure these tips work no matter the type of home purchase you decide to go through. Our team of experts will take you through each step of getting ready to buy your dream property as well as making extra cash while living comfortably inside it! 1. Research Your Budget Well In advance of deciding whether you should purchase a new home or rent an apartment/condominium, it helps to get familiarized with your current situation, financial status, housing market information and real estate trends. There are many ways to find out what you can afford to spend, and which neighbourhoods are currently experiencing higher demand. Start researching online to see what properties are available near your place of employment and school; check websites like Zolo, Trulia, Realtor.ca, Redfin, OpenHouseEdmonton, OpenHouseCalgary, HomesForSale.ca and other portals to see listings for houses, condos, townhomes, coops & rentals. Also, it could help to visit local realtor offices and meet some agents who deal with properties similar to yours and talk to them about what they recommend. If you live close enough to where you would ultimately like to move, consider attending community association meetings, asking neighbours, friends or family members for referrals to brokers. 2. Find Real Estate Agents Who Can Help You Buy Where You Want 2. Find Agents with Good Reputation For buying a new house, finding a good agent can mean everything. An experienced broker knows the ins and outs of the area he sells in, and can give valuable information regarding the market conditions, the price trend, and potential buyers. He may be able to suggest a few options for you depending on your needs and preferences. When you have chosen a specific neighbourhood and area, try contacting different realtors until you feel satisfied with your first choice. 3. Be Flexible with Buying a Property Once you finally choose a home and decide upon a location, things start moving really fast. As soon as you agree to buy, the seller will usually begin working on getting his paperwork together and preparing the sale contract. 4. Don't Neglect The Pre Closing Costs You can expect to pay anywhere from $500-$2000 towards closing costs such as legal fees, appraisal, inspections, title insurance, mortgage pre registration fee, settlement charges, credit report, etc... These expenses vary greatly depending on the lender you choose for financing, but generally speaking, most lenders charge 1% of the total sales value plus another 0.25% of the amount financed. 5. Keep Up With Maintenance While your realtor will be helping you negotiate, remember to keep track of maintenance issues and repairs yourself. Check out your HOA reports regularly, especially after big storms. Do minor fixes such as repainting walls, changing light bulbs, replacing damaged flooring, painting interior rooms, and installing doorbell cameras. Small improvements to the exterior appearance of your property, such as fixing broken windows, repairing brickwork, painting shutters, planting flowers or shrubbery, clearing...