Why do people use mortgages instead of cash to buy homes?

Cash purchases sidestep interest, speed up transactions, and put buyers at an advantage during negotiations.

Why do people use mortgages instead of cash to buy homes?

A mortgage loan frees up cash for investments and maintains liquidity while leveraging low-interest debt.

How to buy a house in British Columbia with cash?

Show proof of funds, skip the mortgage approval step, and you can fast-track your way to closing day.

Why do home sellers prefer cash buyers?

Sellers dig cash deals because they close faster with fewer hitches from financing fall-throughs.

What is a Purpose Built Rental Building?

A purpose built rental building is a multi-unit residential property developed to provide long term rental homes. The apartments are typically held under one ownership structure and rented to tenants, rather than being separately strata titled and sold as individual condos.

In British Columbia, the term commonly refers to non stratified rental housing. A building does not need to qualify for a tax program to be considered purpose built rental housing, but qualifying new buildings may be eligible for a provincial property transfer tax exemption if they meet specific requirements.

Related: Read my guide to real estate investing in Vancouver before evaluating a rental property purchase.

Kim Lee (Vancouver Realtor)

As a Vancouver realtor, Kim Lee combines her love for people with her passion for real estate to provide guidance throughout the process and to building lasting relationships.