CALGARY -- First-time home buyers have accounted for about one in every two homes sold in Canada in the past two years, representing more than a quarter of a million sales a year across the country, says a new report.
A housing report by the Altus Group, an economic consulting firm, says the majority of first-time buyers are in the under-35 age group with the 25-to-34 segment alone accounting for six of every 10 first-time buyers. Many first-time buyers are more "mature," with about one in four 35 to 49 years old.
The report says more than one-fifth of first-time buyers purchased a newly built home. Of these, about one in three opted for a condominium unit.
About one in four recent first-time buyers was a single-person household.
"The average house price for a recent (first-time buyer) in Canada was about $273,000. This is about four times the average annual household income of about $69,000 -- up substantially from the price/income ratio of 2.7 per cent for (first-time buyers) in the 2001-2002 period," the report says.
First-time buyers have used various means to help them own a house: minimal down payments, longer amortization periods to reduce regular payments, variable-rate mortgages to reduce regular payments, RRSPs for down payments, and help from family.
But the FIRM Residential Mortgage Survey, conducted quarterly by the Altus Group and Ipsos Reid, found first-time buyer intentions among those who currently rent were down from a year ago and were also below the average level of the 2002-09 period. Softer first-time home-buying intentions are tied to the additional tightening in mortgage insurance rules in the past two years.
"make the home-sales world go around, playing an important role as buyers in the newly built market and also in purchasing existing homes... ," the Altus Group said.
"Given prevailing house-price levels and the cumulative impacts of more stringent mortgage insurance criteria, access to the market has become more restricted for these potential (first-time buyers)."
Imagine owning a home of elegant style reminiscent of "Gone With the Wind" in the desirable Kettle Valley subdivision. Beautiful dark hardwood floors greet your entry to the grand front foyer. The large kitchen, serviced with a Natural Gas stove and stainless steel appliances add to the graceful entertaining of long ago. The large formal dining room makes those family gatherings and celebrations memorable. This is a bright family home with a wonderful flow. The kitchen eating area is terrific for those informal family meals. The family room, just off of the kitchen, allows mom and dad to monitor the children while the family meal is prepared. To top it off, a theatre/games room in the lower level is available for family entertainment.
The Kettle Valley subdivision is an award-winning community in the heart of the Mission. Kettle Valley is a community of stunning streetscapes, beautiful parks, extensive nature trails, breathtaking views, a charming Village Centre, and the brand new Chute Lake Elementary School right next door.
Come discover a sense of place, belonging, and community you didn’t think possible - one that heartens you to enrich your home, enhance your lifestyle, and truly better your life.
Imagine owning a home of elegant style reminiscent of "Gone With the Wind". Beautiful dark hardwood floors greet your entry to the grand front foyer. The large kitchen, serviced with a Natural Gas stove and stainless steel appliances add to the graceful entertaining of long ago. The large formal dining room makes those family gatherings and celebrations memorable. This is a bright family home with a wonderful flow. The kitchen eating area is terrific for those informal family meals. The family room, just off of the kitchen, allows mom and dad to monitor the children while the family meal is prepared. To top it off, a theatre/games room in the lower level is available for family entertainment.
Top floor penthouse unit boasts 2 bedrooms plus den and two bathrooms. Gleaming wood floors throughout and high 9' ceilings (that occur only on top 2 floors). Three skylights, bright open plan with island kitchen and pleasing views. Immaculately maintained and offers loads of custom features and high end finishes. Two decks to enjoy your Okanagan weather, gas BBQ and water tap on deck. Underground parking and storage locker and small pets are allowed. Walk to all amenities including springfield parking with numerous walking trails, resturants, shopping and the famous Farmers market. The ultimate in low maintenance okanagan living at its best. This home will not dissappoint.
Top floor penthouse unit boasts two bedrooms plus den and two bathrooms. Gleaming wood floors throughout and high 9' ceilings (that occur only on top 2 floors). Three skylights, bright open plan with island kitchen and pleasing views. Immaculately maintained and offers loads of custom features and high end finishes. Two decks to enjoy your Okanagan weather, gas BBQ and water tap on deck. Underground parking and storage locker and small pets are allowed. Walk to all amenities including springfield parking with numerous walking trails, resturants, shopping and the famous Farmers market. The ultimate in low maintenance okanagan living at its best. This home will not dissappoint.
http://www.RealDealsKelowna.com
The Real Deal Kelowna
April 20th 2011 This weekly video segment by Matt Ranger of Remax Kelowna and Lew MacDonald of
Verico Tailor Made Mortgages brings you, in their opinion, the 2 best buys for first time buyers in the
Kelowna real estate market.
Most first time buyers will require a CMHC insured mortgage and these video segments will help you to understand the price trends in Kelowna.
The first six editions will be broadcast, but only by (free) subscription there after. Make sure you have entered your email address so you don’t miss out.
OPEN HOUSE - SATURDAY, APR. 23RD 1:00 - 3:00 P.M. Rare Find! 520 Gramiak RdRutland South Kelowna BC V1X1K5 3 Bedrooms. 3 Full Baths with Tons of Parking Spaces! RV Parking plus Camper+++++ Centrally located in a Very quiet area of South Rutland, close to Costco shopping, Mission Creek Greenway and Springvalley Elementary and Springvalley Middle School. Walkway / Bicycle Path runs along the left side of the Property that leads to the Springvalley Middle School and Springvalley Elementary School. Entrance into Mission Creek Greenway at Ziprick and Springfield. Mature Fruit and Nut Trees in Backyard and low maintenace landscaped Yard with 6 zone sprinkler system. This Home has everything for you to Move in and start Living! For more information or to arrange a Viewing, please call Karen (250) 575-2387 or email; k.stephens@shaw.ca
OPEN HOUSE - SATURDAY, APR. 23RD 1:00 - 3:00 P.M. Rare Find!
520 Gramiak Rd Rutland South Kelowna BC V1X1K5
3 Bedrooms. 3 Full Baths with Tons of Parking Spaces! RV Parking plus Camper+++++ Centrally located in a Very quiet area of South Rutland, close to Costco shopping, Mission Creek Greenway and Springvalley Elementary and Springvalley Middle School.
Walkway / Bicycle Path runs along the left side of the Property that leads to the Springvalley Middle School and Springvalley Elementary School. Entrance into Mission Creek Greenway at Ziprick and Springfield. Mature Fruit and Nut Trees in Backyard and low maintenace landscaped Yard with 6 zone sprinkler system. This Home has everything for you to Move in and start Living! For more information or to arrange a Viewing, please call Karen (250) 575-2387 or email; k.stephens@shaw.ca
Features List
3 bedrooms
Rutland
Rutland South
Kelowna BC
520 Gramiak Rd
V1X1K5
Springvalley Middle
Springvalley
Mission Greenway
Gramiak
Rutland South
Kelowna BC
Equal Housing Opportunity.
Realty Executives : Kelowna V1Y8K5 : 250-575-2387
Posted by: Lew MacDonald at 1:50pm
Tags: springvalley elementary school, 520 gramiak rd kelowna bc
11848 Read Crescent Summerland BC V0H1Z2 walk to Main Street Summerland BC
Well maintained family home in Summerland BC with amazing valley views! Located on a quiet
cul-de-sac ( 11848 Read Cres ), this split level home has lots of square footage and has been
well cared for. Above level has a large living room with wood fireplace.
Spacious dinning room that has patio doors out to a great outdoor covered
living space! 2 bedrooms and 1 bath above as well as 1 bedroom + bath
below. Large recreation room in the basement. Also, there is a separate
entrance in the basement from the carport. Large yard with a nice garden
area. Bushes line the front which offers privacy and greenery. Enjoy what
the Okanagan has to offer and live close amenities as the home is located
within walking distance to Main Street! Call the Listing Representative
today to arrange for a private viewing of this fabulous home. All
measurements are approximate.
11848 Read Crescent Summerland BC V0H1Z2 walk to Main Street Summerland BC
Well maintained family home with amazing valley views! Located on a quiet cul-de-sac, this split level home has lots of square footage and has been well cared for. Above level has a large living room with wood fireplace. Spacious dinning room that has patio doors out to a great outdoor covered living space! 2 bedrooms and 1 bath above as well as 1 bedroom + bath below. Large recreation room in the basement. Also, there is a separate entrance in the basement from the carport. Large yard with a nice garden area. Bushes line the front which offers privacy and greenery. Enjoy what the Okanagan has to offer and live close amenities as the home is located within walking distance to Main Street! Call the Listing Representative today to arrange for a private viewing of this fabulous home. All measurements are approximate.
Features List
Summerland Home For
11848 Read Cres
Summerland BC
V0H1Z2
Read Cres Home For S
Walk to Main Street
3 Bedroom
2 Bath
2 Bathroom
Summerland BC
Read Crescent
Equal Housing Opportunity.
Royal LePage Parkside Realty :
9925 Main Street -
Summerland
BC
V0H1Z0
: 250-488-5025
Mark
Divine Class 170 honorman, SEAL Team 3, SDVT-1, NRST-1
The first US Navy SEAL
teams were commissioned in 1962 and all the way up to present day. The Navy
SEALs have distinguished themselves as an individually reliable,
collectively disciplined and highly skilled maritime force. Prospective SEALs
go through what is considered by many military experts to be the toughest
training in the world in order to be accepted into Naval Special Warfare
(NSW).
Yesterday morning I had
the absolute honor of listening to Commander
Mark Divine (USNR) speak about the mental toughness that it is
required to be one of the 20 left standing of the 200 plus men who started out
in Navy Seal Training and how to apply that strategy in my business.
SEALFIT combines training
for elite fitness, mental toughness, and "kokoro spirit" into a single
program delivered through daily workouts, an immersion
academy, a renowned 50 hour "Kokoro"
camp, and a growing number of certified
coaches delivering SEALFIT at CrossFit gyms around the country.
If you have the chance to
see Mark Divine speak, it would be
well worth your time.
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