Is buying a luxury home in the lucrative district of West Vancouver going to start becoming easier? It's a valid question, and one we think has a "yes" to its answer - but why? Luxury home and town houses in West Vancouver have been springing up relentlessly over the past 30 years or more and virtually all of these homes are considered to be in great condition, the height of luxury and a real desirable residence to live.
Foreign investors have been falling over themselves to get in on the act and buy or just get their foot in the door for later resale at profit.
But what about the people who are living here in West Vancouver already? There are those who have enjoyed the luxury, opulence and vibrancy of the city and have generally been living the high-life now, even though Canada and North America in general has been going through some tough times financially.
In fact, we doubt you'll have much in the sympathy but West Vancouver's luxury residential properties are occupied by many that are starting to struggle to live in this big city.
The truth is, things are going up across Canada and the cost of living has suddenly shot up.
I guess one can thank the new financial year that recently saw price hikes in the cost it now takes to post a letter, but to jump from 63c to a dollar has left many shaking their heads in disbelief.
Water rates for the local area also hiked up by nine percent recently and British Columbia Ferries upped its prices by four percent and will now begin charging senior citizens, who used to be able to walk on or off for free, to use its services, albeit at a reduced rate.
Property taxes also hiked up in the city this April and the changes and extra charges, of which the aforementioned are just a small sample, are beginning to take their toll on the wealthy West Vancouver homeowners that are living in some of the townhouses.
It's just that it's becoming difficult to afford to live in a wealthy home and still pay the bills and buy all the stuff one needs each week.
So, what's the answer - its downsizing! And, downsizing means luxury properties in West Vancouver could start flooding the pages of the real estate agents very soon.
This has to be a good sign for buyers as it may peg down house prices, even if it's just for a little while.
Foreign investors have been falling over themselves to get in on the act and buy or just get their foot in the door for later resale at profit.
But what about the people who are living here in West Vancouver already? There are those who have enjoyed the luxury, opulence and vibrancy of the city and have generally been living the high-life now, even though Canada and North America in general has been going through some tough times financially.
In fact, we doubt you'll have much in the sympathy but West Vancouver's luxury residential properties are occupied by many that are starting to struggle to live in this big city.
The truth is, things are going up across Canada and the cost of living has suddenly shot up.
I guess one can thank the new financial year that recently saw price hikes in the cost it now takes to post a letter, but to jump from 63c to a dollar has left many shaking their heads in disbelief.
Water rates for the local area also hiked up by nine percent recently and British Columbia Ferries upped its prices by four percent and will now begin charging senior citizens, who used to be able to walk on or off for free, to use its services, albeit at a reduced rate.
Property taxes also hiked up in the city this April and the changes and extra charges, of which the aforementioned are just a small sample, are beginning to take their toll on the wealthy West Vancouver homeowners that are living in some of the townhouses.
It's just that it's becoming difficult to afford to live in a wealthy home and still pay the bills and buy all the stuff one needs each week.
So, what's the answer - its downsizing! And, downsizing means luxury properties in West Vancouver could start flooding the pages of the real estate agents very soon.
This has to be a good sign for buyers as it may peg down house prices, even if it's just for a little while.
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