CONSTRUCTION WORKER Ken Lederer ties a rebar for reinforcing concrete at the Caulfeild Mall building site in|,

West Vancouver.

at ea
NEWS photo-Stuart Davis

Calculate mortgage risks

From page 61

this family is not great.
However, should rates rise
again to the 20 per cent
range, as they did during the
summer of 1982, this family
would have to pay a whopp-
ing $760 per month — well
above their available
resources for home owner-
ship. .

“Home buyers should

‘calculate their own levels of

acceptable risk,’’ said Keller,
who added that there are
always extra costs associated
with changing your mor-

. tgage or getting a new mor-

tgage.

Keiler illustrated the point
of acceptable risk by saying
that a homeowner
may prefer to be paying the
one year rate, but realizes
that fie absolutely could not

today -

afford « vate higher than 12
per cent or :3 per cent. Such
a homeowner should ask
himself whether the gamble
that ‘rates will have fatlen
one or 1% points in one year
is worth the risk that they
may take beyond the level
which that homeowner can
afford.

“Every purchaser and
Mortgage borrower is dif-
ferent,

PROJECT BY
CALIFORNIA HOMES LTD.

A. UNIQUE COLLECTION. OF
55:NEW HOMES BUILT FOR
THE DISCRIMINATING FEW
WHO DESIRE THE BEST.

t SANDRA MELVILLE
«922-5864

SHOW HOME OPEN
. SATISUN 1-4

At the very top of
Underwood Avenue in
Lynn Valley

é
926-5890

From $164,000

and has individual

MARYLIN TOWARD af

needs,’” said Keller. ‘‘At Na-
tional Trust, we counsel
people to come in and talk
to us before committing to a
mortgage. Look at all the
factors, and consider all the
alternatives,’’ he added.

The alternatives a home
buyer should consider in-
clude the payment schedule
(weekly — monthly), the
term, pre-payments features
etc., in addition to the rate.

67 - Friday, April 24, 1987 -

VANCOUVER
a i
Seniors

North Shore News

SYMPOSIUM

housing

issues addressed

EXPERTS FROM Canada
and the United States will
gather to discuss retirement
housing — a topic that is
fast gaining pre-eminence in
the housing industry.

At| a symposium spon-
sored by the Canadian
Home Builders Association
of B.C, (CHBA-BC), experts
including Jim Moore, a
world-renowned _ consultant
on retirement housing, from
Fort Worth, Texas, will ad-

_ dress issues surrounding a

segment of the housing
market that will dominate
the future, becoming a ma-
jor concern in the year 2000.

By then, it is estimated
that one in five British Col-
umbians will be 65 years of
age or older. Baby boomers
will be coming of age,
retirees will be moving into
the province, and few will
leave.

Like no other time in his-
tory, the older generation
will comprise a majority.
Not only that, they will be
healthier and more affluent
than any of their
predecessors.

Some industry observers
feel that the retirement hous-
ing market is the only
significant target market for
the development industry
over the next five to ten
years. Dramatic changes in
housing priortiies and at-
titudes are already occuring.

CHBA-BC president, Bill

Strain, confirms the trend.
“To accommodate the older
home buyer, one-storey,
smaller houses in the
$100,000 to $150,000 range
are becoming the mainstay.
Tight security, energy effi-
ciency, low maintenance,
value, and comfort are also
important factors. Further-
more, the older buyer is
more discerning than his
younger counterpart. He is
looking for quality and
permanence in a home,”’ he
said.

Already retirement villages
and complexes are increasing
in numbers throughout
British Columbia and many
more are in the planning
stages. They range from in-
dependent living units
through to nursing care ac-
commodation, :

The symposium, sched-
uled to occur May 6 at the
Four Seasons Hotel, in Van-
couver, will discuss and
identify trends, provide ex-
amples of existing retirement
villages — their concerns
and successes, and offer ad-
vice and suggestions to the
builder, developer, designer,
and architect on how best to
deliver his product effective-
ly.

Costs for the all-day sym
posium are. $95 for members
and $125. for non-membe‘s.
For more information.“and
registration, contact Marjory
West, CHBA-BC at 732-

1222. ;
Z

FOREST HILLS REALTY LTD.
Park Royal South

756 Marine Drive, West Vancouver
926-8581

‘Not best because we are biggest
But best because we work harder

ALWAYS SOUGHT SELDOM FOUND

$143,900

| Sunset gardens - high trees & winding streets - for the new family that wants
to grow in the area - or - the retirees who enjoy neighborliness. See this im-
mac. 2 bedroom (+ develop. down) home with

Bernice Charney -

4074 Virginia Crese. - or call 926-2196. §

Grousewoods - View Lot $85,000 BERNICE CHARNLEY

NEW

$164,900 _
VIEW HOME

GROUSEWOODS

Contractor is ready to begin - Now is the time to choose carpets & colors - for J
more information please call.

BILL CLARK 922-1083
FRANK ROY B. Arch. 921-8372
926-8581 GEORGE FRIZZELL A.1. 985-8815

FRANK ROY B. Arch. 921-8372
(24 hrs.) DAVID HARPER 926-6775 ‘

BERNICE CHARNLEY 926-2196
BILL CLARK 922-1083

B DOROTHY HALLIER 926-8581
a

ee ee