Ep. 110 — Condo vs Townhouse vs Detached in BC, the CMHC Affordability Report & Why Now Is the Time

Condo, Townhouse or Detached: What Should You Buy in BC?

Is BC real estate really as unaffordable as the headlines suggest?

CMHC says Canada needs millions of additional homes to restore affordability. At the same time, buyers in parts of BC are seeing some of the best purchasing opportunities we’ve had in years.

In Episode 110 of The Real Deal Pod, Fraser Valley Realtor Allister Carrington and BC mortgage broker Geoff Lee look beyond the headlines to what’s actually happening in today’s market.

Then we tackle a question almost every buyer eventually faces: condo, townhouse or detached?

The answer isn’t just about what you can afford today. It’s about where you expect your life to be five or ten years from now.

What You’ll Learn

• What CMHC’s housing supply report means for Canadian buyers
• Why some areas of BC are more affordable today than they’ve been in years
• What’s happening with BC condo prices and where the market could go next
• Why trying to perfectly time the bottom of the market can be difficult
• The pros and cons of condos, townhouses and detached homes
• Why Fraser Valley townhouses continue to attract buyers
• How the property ladder can work from condo to townhouse to detached
• Why your future plans should be part of your buying decision today

We also discuss current BC market conditions and why the right property isn’t always the biggest home you can qualify for.

Sometimes it’s the home that gives you the best combination of affordability, lifestyle and flexibility for whatever comes next.