What property types appreciate the most? Apartment, townhouse, or home?
Are you looking into buying a property in Vancouver but not sure where to start? Here is the difference in appreciation of different housing types in the lower mainland.
Generally speaking, houses and townhomes will appreciate more than an apartment since you own the land. In Vancouver, land value accounts for a large percentage of housing appraisal value. Single-family homes will also appreciate a bit more and faster than townhouses as they are generally also in higher demand.
Above all else if you’re considering buying a Vancouver home, LOCATION LOCATION LOCATION! If you want to learn more about places people want to live around the lower mainland, comment below!
One thing that will increase the value of your home, townhome, or apartment is a good home renovation. Check out Level One’s past projects and get a free quote today!