While North Vancouver is the smallest of all of the municipalities of the north shore, it is certainly the most urbanized. Home to over 48,000 residents, the city has a great blend of residential neighborhoods. It is densely populated and listed in the top twenty percent of cities in all of Canada based on price and availability.
North Vancouver is also a tourist destination. The city boasts a great many tourist attractions, many of which can be traveled to by taking a ferry boat from down town. Among the top destinations popular among tourists are the Capillano suspension bridge and Grouse Mountain.
A densely populated and residential area, many of the people living in North Vancouver have a mortgage. As of August, 2016, according to the Canadian Real Estate Magazine, the median home price in the area was well over $1,000,000. Growing at a rate of over 48% in one month, the average purchase price for a home in North Vancouver is $1,288,000, and the number of bedrooms purchased on average was lower than the average size of a three-bedroom home that is the norm in other areas. The average price on an apartment in the area was $598,000.
People looking to purchase or take out a mortgage in North Vancouver should consider the option of working with a broker in order to get the most for their money. Working with a broker means that there will be a team of professionals in the industry that will be able to advise on the different types of mortgage products available to meet the needs of the client. They will do all of the shopping around for the client too, as they work with many different banks and lenders across the industry to ensure that the client gets the best product and rates that available, and to make sure that they are aware of and take advantage of any incentives they might be eligible for.BOOK FREE CONSULTATION