Tuesday, March 11, 2008

DEVELOPMENT FEES TO RISE

Increased Development Fees Means
Increased Cost of New Homes
It is reported in the local press that Nanaimo builders don't like the anticipated increase in development cost charges.

Increasing costs to supply services, especially water means the city has to recover their cost somewhere.


Of course any increased fee will result in an increase to the end selling price of the home. In the end the builder does not pay the increase, it is the end purchaser.


Comment: If taxes and increasing fees continue to climb, Nanaimo could soon find itself priced out of the retirement home market. People wishing to retire to beautiful Vancouver Island may find that living in Ladysmith or points north preferable if Nanaimo prices become uncompetitive.

allvoices

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