PURCHASING A HOME ON THE NORTH SHORE



Hey everyone, happy June!! It is crazy how fast this year has been going by, but it has been awesome to finally be getting some consistent warm weather and sun lately!

We hope you are all doing well, and we are excited for this month’s blog as we are highlighting the area we have called “home” for many years, the North Shore!

What is not to like?

Waking up on a Saturday and enjoying a cup of coffee, watching the sunlight glimmer off the shiny buildings of the iconic Downtown Vancouver Skyline, the Burrard Inlet’s ocean waves, and hearing the noise of the harbour ships in the distance; ahh, what a feeling.

The North Shore has so much to offer, and as many of you know, it has been regarded as one of the most beautiful and desirable places to live in Canada, with extensive parks, mountains, beaches, and easy access to Downtown; it is a family’s paradise!

But what are the costs associated when it comes to buying a home?

There’s something for everyone on the North Shore, and when it comes to purchasing a home, it’s important you are staying in the loop with the city/district property taxes and home prices to determine value!

North Vancouver

Property Taxes
With the new financial plans set in motion for North Vancouver, the district will see a 3.98% increase for city residents and a 3% increase for district residents this year once the changes have been put in place, which will mean property owners will pay roughly $71 more.

Average Home Price
As of May 2021, detached homes cost on average $1,902,600, and condos are averaging $654,000. Great news for Sellers if you are looking to cash in on the equity you have accrued, as Buyers have not been shy from bidding wars/multiple offer situations as of late.

West Vancouver

Property Taxes
West Vancouver property with the recent 3.98% increase that was implemented in March will result in just over $200 a year on an average West Vancouver (With a value of roughly $2.9 million) home tax bill. As a result, the total municipal tax bill would be about $5,320 per annum. If you live in a strata, the increase would be around $94 per year.

Average Home Price
As of May 2021, detached homes cost on average $3,139,800, and condos are averaging $1,131,000. Purchasing in West Vancouver is definitely a worthy investment as property/land values are increasing every year, especially with new developments like in Horseshoe Bay and just south of Marine Drive.

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With both areas, there are lots of great options for all family types, but it just comes down to what kind of lifestyle you are looking for; Quiet and serene? Fast-paced and in action? Privacy and views? The North Shore has it all!

If you are looking to Buy or Sell in the North Shore, give us a call, and we will make the experience one that you will remember forever!

(PS. Make sure to ask us about our listing incentive!)

Thank you for taking the time to read this month’s blog; we hope you are keeping well and enjoying the outdoors as much as possible.

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KIM WHITTALL (604) 720-3659 | WHITTALLREALESTATE@GMAIL.COM
SEAN WHITTALL (604) 880-9400 | WHITTALLREALESTATE@GMAIL.COM