How are people buying houses in this market... with these prices???

Joel Olson • March 23, 2022

The market is crazy and prices are high, but there are some options that might fit your situation...

With the housing market being as crazy as it is, have you ever turned to somebody and said, "How are people buying houses?"


When you're always looking at the average price escalating, and you come and visit someone like me, have you ever wondered, "how are people paying these prices?"


I'm not here to dispute whether the market should be that high or whether different markets are pricing different incomes and families out... that's certainly a topic for another day.


However, I can say that everyday I see people qualify for mortgages and markets that are heavily priced with massive appreciation.


And obviously, the market continues to become hotter and hotter because there is a way for people to buy houses at this price.


So below, I've laid out a few things that you could do to get yourself into this market.


It doesn't mean you have to do them, and it doesn't mean it's something that you have to be willing to take on.


It's just some ideas, that we're seeing, that you could consider if that makes sense for your circumstance.


Number one:    don't buy where you want to live by where you want to invest.


Way too many people these days are obsessed with making sure they buy a home in the area that they are living.


You don't have to go far to look at the news to see that house prices particularly in Metro Vancouver, are far out of reach of many working families, even far out of reach of a working professional.


But perhaps that's not the market you need to own real estate in anyway... at least not yet.


Perhaps it's not the spot you need to start with.


Perhaps it's not the place you get your foot in the market, perhaps is not all that bad to be renting in that market.


And perhaps it's not all that bad to not plan on buying that market.


Did you know that if you compare metro cities, a condo may be expensive in Vancouver, but you could buy a condo in a place like Calgary for $250,000 - $300,000.


Certainly you'll have some a little higher and some a little bit lower.


But the point is made there is a meaningful price difference from those two major cities in Canada.


And you can see examples like this all across the nation.


So perhaps instead of thinking about buying where you're living, rent where you live and buy where you want to invest.


So if you're having a problem getting into the market, don't think about buying where you are, think about buying a different market and getting your foot inside the housing market, at a place you can afford, at a place that makes sense for you and using that as a rental property until which time you may qualify in different markets.


This will allow you to get into the housing market and to acquire some appreciation without having to be disappointed while you chase high real estate prices in other places.


Number two  , the amount of people that we see that are buying homes together has increased significantly.


In fact, just last month, I had people buy a home together where there was five friends involved.


Now this may seem quite whimsical or quite crazy.


But if you think about it, it's not as crazy or inconvenient as people might think.


Combining five incomes together surely gives a significant amount of buying power in a market and makes mortgage payments seem very small compared to what it would be by servicing the payment yourself after the qualifying perspective opens up a lot of doors and options on which you can pursue.


If you are in a life situation where you're single, or perhaps there is only you and your partner and you don't have kids, you could really consider buying a big house and joining up with a few friends to buy a home.


Now this is not a situation where you have to commit your life to it, but maybe this is a situation where you think about for the next three to four years you bought a home with three or four of your friends, you're each paying the mortgage payment and there's an exit strategy where you can appreciate some equity and go on to your own things down the road.


This enables you to get into pricey markets and markets that would easily be out of your price range due to your income but allow you to be in there and take advantage of appreciation in markets that would often be very difficult to get into. The data is clear that a lot of people are thinking this way.


It was only a short time ago that the popularized McMansions in Vancouver would happen where 2 families were buying gigantic homes in order to qualify for a bigger mortgage with each family taking one separate wing of the house.


These ideas are not as crazy as we think.


Number three , at this point, everybody's pretty familiar with the idea that you buy a home with a suite and that would allow you to qualify for more income that would allow somebody to service your mortgage payment and thus make your monthly payment and what you qualify for easier.


The problem is this is a much more common thing these days.


 Suites are priced accordingly.


 It's harder to find this stuff.


And, getting a mortgage helper is not as an easy as a way to get in the housing market as it once was just a few short years ago.


Perhaps is time to think a little out of the box.


If you're thinking about buying a home that has even just a little bit of property on it, perhaps instead of thinking about a suite, think about the idea that you could build a carriage home ,or you could build a tiny home or you could build something that is not already on the property. 


Did you know that we offer loans without adding to your income where we could have we could have the construction costs added to your mortgage.


In many situations, this can take a home that is priced below what you would have paid for a suite at home and make it something where you can turn into income generating.


Number four , I haven't seen this trend start to pick up yet, but I'm very curious that this could be something that could be very worthwhile for our clients.


Over the past few years, we've seen more and more people go towards remote work and more and more companies allowing their client their employees to work from home.


Does this mean as pandemic restrictions are taken off, that everybody will go back to the office?


 Does it mean that businesses will take a second look on whether they want to spend the operating income on huge office spaces that they once used?


My guess is that some typical office space retail spaces and industrial spaces will no longer be as desirable for businesses and you will see a lot of real estate that was once used for those purposes become vacant, and in many cases become screaming deals for people to purchase.


Now, why am I saying this?


You're looking for a house after all.


Well, perhaps you were to take one of these industrial buildings or retail spaces and renovate that into a residential home.


Not only would that be a very cool idea, you could get these properties for a significant discount.


Again, we could finance the construction costs.


And it'd be like having a blank canvas and perhaps buying a home like this would enable you to get into markets while paying a significant discount off of what could be available.


Again, it's not that you have to do any of these.


But it's important to be creative in order to take advantage of some of the opportunities and so it's important to think about other ways that you can get in get into the market.


As always, I remain available for us to discuss creative and custom strategies just for your situation.

A man with a beard and a suit is smiling for the camera.
Joel Olson
GET STARTED
A family is standing in a field at sunset.

Everything You Should Know Before Buying a Home

By Joel Olson • January 13, 2026
Thinking About Buying a Home? Here’s What to Know Before You Start Whether you're buying your very first home or preparing for your next move, the process can feel overwhelming—especially with so many unknowns. But it doesn’t have to be. With the right guidance and preparation, you can approach your home purchase with clarity and confidence. This article will walk you through a high-level overview of what lenders look for and what you’ll need to consider in the early stages of buying a home. Once you’re ready to move forward with a pre-approval, we’ll dive into the details together. 1. Are You Credit-Ready? One of the first things a lender will evaluate is your credit history. Your credit profile helps determine your risk level—and whether you're likely to repay your mortgage as agreed. To be considered “established,” you’ll need: At least two active credit accounts (like credit cards, loans, or lines of credit) Each with a minimum limit of $2,500 Reporting for at least two years Just as important: your repayment history. Make all your payments on time, every time. A missed payment won’t usually impact your credit unless you’re 30 days or more past due—but even one slip can lower your score. 2. Is Your Income Reliable? Lenders are trusting you with hundreds of thousands of dollars, so they want to be confident that your income is stable enough to support regular mortgage payments. Salaried employees in permanent positions generally have the easiest time qualifying. If you’re self-employed, or your income includes commission, overtime, or bonuses, expect to provide at least two years’ worth of income documentation. The more predictable your income, the easier it is to qualify. 3. What’s Your Down Payment Plan? Every mortgage requires some amount of money upfront. In Canada, the minimum down payment is: 5% on the first $500,000 of the purchase price 10% on the portion above $500,000 20% for homes over $1 million You’ll also need to show proof of at least 1.5% of the purchase price for closing costs (think legal fees, appraisals, and taxes). The best source of a down payment is your own savings, supported by a 90-day history in your bank account. But gifted funds from immediate family and proceeds from a property sale are also acceptable. 4. How Much Can You Actually Afford? There’s a big difference between what you feel you can afford and what you can prove you can afford. Lenders base your approval on verifiable documentation—not assumptions. Your approval amount depends on a variety of factors, including: Income and employment history Existing debts Credit score Down payment amount Property taxes and heating costs for the home All of these factors are used to calculate your debt service ratios—a key indicator of whether your mortgage is affordable. Start Early, Plan Smart Even if you’re months (or more) away from buying, the best time to start planning is now. When you work with an independent mortgage professional, you get access to expert advice at no cost to you. We can: Review your credit profile Help you understand how lenders view your income Guide your down payment planning Determine how much you can qualify to borrow Build a roadmap if your finances need some fine-tuning If you're ready to start mapping out your home buying plan or want to know where you stand today, let’s talk. It would be a pleasure to help you get mortgage-ready.

Best Mortgage Options for Canadian Homebuyers

By Joel Olson • January 6, 2026
Thinking of Calling Your Bank for a Mortgage? Read This First. If you're buying a home or renewing your mortgage, your first instinct might be to call your bank. It's familiar. It's easy. But it might also cost you more than you realize—in money, flexibility, and long-term satisfaction. Before you sign anything, here are four things your bank won’t tell you—and four reasons why working with an independent mortgage professional is the smarter move. 1. Your Bank Offers Limited Mortgage Options Banks can only offer what they sell. So if your financial situation doesn’t fit neatly into their guidelines—or if you’re looking for competitive terms—you might be out of luck. Working with a mortgage broker? You get access to mortgage products from hundreds of lenders : major banks, credit unions, monoline lenders, alternative lenders, B lenders, and even private funds. That means more options, more flexibility, and a much better chance of finding a mortgage that fits you. 2. Bank Reps Are Salespeople—Not Mortgage Strategists Let’s be honest: most bank mortgage reps are trained to sell their employer’s products—not to analyze your financial goals or tailor a long-term mortgage plan. Their job is to generate revenue for the bank. Independent mortgage professionals are different. We’re not tied to one lender—we’re tied to you. Our job is to shop around, negotiate on your behalf, and recommend the mortgage that offers the best balance of rate, terms, and flexibility. And yes, we get paid by the lender—but only after we find you a mortgage that works for your situation. That creates a win-win-win: you get the best deal, we earn our fee, and the lender earns your business. 3. Banks Don’t Lead with Their Best Rate It’s true. Banks often reserve their best rates for those who ask for them—or threaten to walk. And guess what? Most people don’t. Over 50% of Canadians accept the first renewal offer they get by mail. No questions asked. That’s exactly what the banks count on. Mortgage professionals don’t play that game. We start by finding lenders offering competitive rates upfront, and we handle the negotiations for you. There’s no guesswork, no pressure, and no settling for less than you deserve. 4. Bank Mortgages Are Often More Restrictive Than You Think Not all mortgages are created equal. Some come with hidden traps—especially around penalties. Ever heard of a sky-high prepayment charge when someone breaks their mortgage early? That’s often due to something called an Interest Rate Differential (IRD) —and big banks are notorious for using the harshest IRD calculations. When we help you choose a mortgage, we don’t just focus on the interest rate. We look at the whole picture, including: Prepayment privileges Penalty calculations Portability Future flexibility That way, if your life changes, your mortgage won’t become a financial anchor. A Quick Recap What your bank typically offers: Only their own limited mortgage products Sales-focused representatives, not mortgage strategists Default rates that aren’t usually their best Restrictive contracts with high penalties What an independent mortgage professional delivers: Access to over 200 lenders and customized mortgage solutions Personalized advice and long-term financial strategy Competitive rates and terms upfront Transparent, flexible mortgage options designed around your needs Let’s Talk Before You Sign Your mortgage is likely the biggest financial commitment you’ll ever make. So why settle for a one-size-fits-all solution? If you're buying, refinancing, or renewing, I’d love to help you explore your options, explain the fine print, and find a mortgage that truly works for you. Let’s start with a conversation—no pressure, just good advice.