How Much Does a Family Need to Earn to Afford a Detached Home.

It seems that older Millennials across most of the country made up the largest share of homebuyers over the past 4 years with most of them being first-time buyers. But, according to trends published by Royal LePage, high home values in British Columbia have left many purchasers between the ages of 25 and 36 outside of the market. While 86 per cent of peak millennials studied in the province believe that homeownership is a good investment, 83 per cent stated that housing in their region was simply unaffordable. I found this interesting info graphic at http://www.moneysense.ca that correlates how much a family needs to earn, the closer they live to the city. Over the past couple years, I have helped a number of millennial clients secure new homes. Several purchased condominiums in North Vancouver, a couple in Squamish, and a number in Pemberton. It is not impossible to find a condominium or home that meets your criteria… its just takes know-how and networking. I have put together a few steps for first time buyers in a link here. http://bit.ly/2pA5XHv ... Share  with a Millennial in your life why 2018 just might be their year to buy a home, perhaps, just outside the city.