One third of BC residents live in a strata home, whether it’s a condo, townhouse, or multi-plex unit.

Strata homes are usually more affordable than their single-family counterparts. They can also lessen the burdens of home ownership, with strata residents sharing responsibilities for things like maintenance, snow shoveling, and security. And while these homes tend to be smaller, they may also have access to amenities like a pool or gym. 

If you’re looking to own a strata home, make sure you’re familiar with related terminology. Here’s a guide to some of those terms.

Strata

In a strata development, the parts created for individual ownership are called “strata lots.” Informally, these lots are referred to as a “strata unit” or a “condominium.” The rest of the development consists of common property. Strata housing can include: condos, townhouses, and multiplexes.

Strata corporation

Strata owners own their individual strata lots...
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Metro Vancouver’s real estate market has been picking up steam since last fall, culminating in record sales and new listing activity last month. In an active market like this, seeking professional advice from a REALTOR® is more important than ever.

With this in mind, the Real Estate Council of BC (Council) and the Office of the Superintendent of Real Estate (OSRE) released a joint statement advising home buyers and sellers to seek professional advice, do their research, and understand the risks involved before buying or selling a home.

Seek professional advice about potential home-buying risks

Today’s market is marked by subject-free offers, intense competition for properties via multiple offers, and properties selling faster than usual. 

Under these conditions, home buyers may feel the need to make quicker and perhaps riskier decisions.

Council and OSRE are advising home buyers...

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I have sold a property at 802 7733 FIRBRIDGE WAY in Richmond.
Well kept 1 bedroom plus den in popular Quintet by Phileo Development. Located in the heart o£ Richmond, this stylish unit features engineered hardwood floors, open kitchen, stainless steel appliances and air conditioning! Building amenities include roof top park, fitness centre and indoor lap pool. Comes with 1 park but no need to drive with restaurants, shops and the Canada Line just steps away. Excellent investment property!
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