Looking for a house in BC (Fraser Valley) - Half a million for what???

[woodcarver]

Brad, You make a very relevant comment about factoring in the revenue from a suite . I have always thought this is an excellent way for a young couple to enter the market into a bigger property with the potential for subsequent larger increases in value than the small starter home , paid for with the rental income . Of course this is not for everyone with the hassle of finding suitable renters etc. and have some one living in your home .
The market does seem superheated but to some extent is only playing catch up when looking at housing prices globally.

Nick , I have four children ( all now with their own families ) and concur with you over the importance of the stability afforded your young ladies when attending school,making friends and so forth.
I wish you well in your search and , as a previous poster illustrated be a little wary of long mortgages . It is very educational to look at amortization tables and see how little the difference in payments is between say a 30 yr and 35yr term when you will be paying a whole five years more at the full ,mortage!! The witchcraft of compound interest and amortization formulae

After all ,it's only money

........................Dave