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Alternative Home Ownership trends
in Moncton
The Moncton region has experienced an increase in non-traditional forms of home ownership over the past year. This is expected to continue, and has primarily been driven by inventory limitations, price appreciation, and the fluctuating interest rate environment.
Looking ahead this year, due to ongoing affordability challenges, it's reasonable to expect an estimated five- to 12-per-cent increase in homebuyers starting to explore other creative solutions to engage with the housing market.
Secondary suites for additional income in Moncton are also on the rise, with an increase in homebuyers/current homeowners looking for residences with these options, or renovating to create these options.
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1.Joint tenants
2. Income/secondary suites
3. Co-ownership/co-equity
most-common forms of
non-traditional ownership:
1. Potential for higher taxes
2. Lack of knowledge on non-traditional options
3. Limited availability of alternative options
buyer concerns and misconceptions:
Sellers have not expressed concerns about accepting an offer from non-traditional homebuyers.
Seller perceptions
1. Research tax and assessment impacts.
2. Get permits for any property alterations.
3. Seek professional counsel, when it can change what the buyer qualifies for, due to the increased income potential of creative home ownership.
4. Research potential grant availability.
5. Be open to alternatives that may help achieve your goal of home ownership sooner.
home-buying advice
regional insight
Regional insights and advice provided by RE/MAX brokers and agents. Each RE/MAX office independently owned and operated.