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Burnaby Real Estate Offerings in the Pre-Sales and Recently Completed Markets

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The City of Burnaby has always been considered as a prime place to purchase a new home whether you are a new homebuyer or someone looking to downsize. With a great location that is close to downtown Vancouver and other parts of... See more » The City of Burnaby has always been considered as a prime place to purchase a new home whether you are a new homebuyer or someone looking to downsize. With a great location that is close to downtown Vancouver and other parts of the Lower Mainland (without having to cross bridges), Burnaby real estate has taken off both in terms of capital appreciation in addition to the number of new pre-sales Burnaby condo and townhome developments you see everywhere in the city. So why is real estate in Burnaby pre-construction properties in so much demand where other cities have seen a drop in housing starts? The answer to the key in Burnaby rela estate's success is due to many factors. For many years, Burnaby lagged behind the City of Vancouver in many different categories of sales prices, new housing development starts and neighbourhoods that people and families want to live in. With the recent increase in property values across the Lower Mainland, both residents and real estate investors have turned their sights to Burnaby property for many reasons. Considered to be much more affordable, a simple comparison between a downtown Vancouver condo and that in a Burnaby real estate development will reveal that the price per square footage would almost always be at least 30% cheaper if not up to 50% more affordable. With many new Burnaby real estate developers coming into the market, there has been great competition amongst these builders to add features that rival those of luxury downtown apartment suites. However, as indicated above, homebuyers purchasing in teh Burnaby real estate property market will be spending a lot less on their condominium or townhome or new single family home when you see the numbers. This is very attractive for first time home buyer which include young couples and families that are growing and need more space. Burnaby property has forever been undervalued, and now, many home owners here in Burnaby are seeing their real estate values rise much quicker than anywhere else in teh Lower Mainland. Burnaby presents a great option for downsizers as well. With plenty of inventory in pre-sales condos and pre-construction Burnaby townhome markets, empty nesters who want to be close the city but not in it will find many different alternatives to choose from. Spacious 2 bedroom condos or three bedroom pre-sales Burnaby townhomes are their favourite choices, with many people affordable at $400 per square foot or lower depending on where you buy. Many home owners and homebuyers are surprised when they see the recent developments in Burnaby. A large portion of all housing starts in this beautiful city of parks, festivals and green space are pre-sales Burnaby condo tower residences, either high-rise or mid-rise buildings and most built of concrete and steel construction, which will last more than a generation or two. Of course, with any pre-sales Burnaby condo, most developers will allow for simple assignments of contracts, just in case you and your family decide to purchase another before the first is complete. The real estate Burnaby market is very hot, and therefore, developers see this and provide plenty of different housing types to the prospective home buyer that may include larger residences such as townhomes or pre-construction townhouses, as well as single family detached homes in master planned communities which are becoming much more popular as growing families need more space. In some cases, larger properties in Burnaby will provide a mix of different styles of housing and will mix smaller condo apartment suites with larger townhomes and even family homes in teh same master planned neighbourhood. This provides a great mix of people and family types to there growing areas. Burnaby real estate is divided into different areas as well. The most notable being Metrotown Burnaby where much of the initial construction of pre-sales condominiums and apartments have taken place. This has now spread to many of the SkyTrain nodes that include Edmonds Station as well as HighGate Village in South Burnaby, Deer Lake, Willingdon and See less »

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Burnaby Real Estate Offerings in the Pre-Sales and Recently Completed Markets

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