Today is your day Boomer! Beware Boomers, buying real estate has changed. I have a couple of family members who are embarking upon the the difficult journey of buying a house these days and wow, what a difference from when I did my last purchase 20 years ago! First of all, expect through-the-roof prices.....even for real fixer-uppers like the one in the picture. It seems like almost nothing is worth a lot these days...especially in rural areas as many people try to escape cities for a slower, quieter life. Lineups for viewings and heavy competition for bids is now the norm, so expect to pay more than the asking price. And forget about so-called "conditions" like this sale is contingent upon the sale of my old house.....it likely won't make the cut with so many buyers and so little stock available. In other words, you may have to compromise more. But how about some good things? Well, interest rates are very low and it looks like that will continue. Also, you can do virtual tours of houses if you don't live in the same city and realtors can do almost everything with you on-line! And the BC Government is introducing a new homebuyers program which will give purchasers peace-of-mind with a new cooling-off period guarantee. Boomers, it doesn't sound too bad for us. Many of us will downsize in the next decade and we need to research the housing market and be prepared for the new realities. Cheers.

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