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Lots of good information on this thread. I am thinking on purchasing a pre-sale apartment to live in the Fraser Valley area where prices are not as high as the city of Vancouver. It would be strictly for me to live in and I would be putting 20% down. I have worked out my monthly mortage+strata+other housing costs and it would cost approx 30% of my gross monthly income.
On paper everything seems doable. My question I guess is whether I should hold off for another year or so or jump in this winter as I would very much like to move out ASAP. I know that the prices are very much inflated, but in the Fraser Vallery area, what is the likelyhood that it will dip a significant amount?
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