Here in British Columbia, homeowners have been receiving their 2019 property assessments. According to news reports, it sounds like values have decreased slightly across the Lower Mainland.
In my opinion, I’m hoping the trend plateaus now. The decrease doesn’t bother me since we bought our home almost 13 years ago. Sure, I want to see the value increase- that just makes me “house rich and cash poor.” Every so often, I search for other listings in the Lower Mainland- future prospects for houses or neighborhoods. The “ideal” home for us once our children become adults.
Only, I don’t know what our kids will do in the future.
Will they move out or will they need their own suite to live in? Or should we look at a home that eventually our kids can take ownership of? Or do my wife and I just look out for ourselves and downsize?
I don’t know at this time. So that means- we will stay put for a few more years. And it doesn’t matter whether the assessment of our property increases or decreases. What matters now is- what will our property taxes be?