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The Condo Vs. House Debate

Deciding whether to purchase a house or a condo has been a dilemma among first time homebuyers. Here is a quick breakdown of the pros and cons of both choices: Condominiums Pros: Opportunity to live in a high-profile neighborhood; areas where houses are usually unaffordable, such as the downtown core or entertainment district. Great selection of amenities offered with condominiums; ...

Downsizing?

So much real estate is centred around buying your first home or moving up, but getting a smaller home has a lot of significance as well. There can be many different reasons people downsize, and here are some things to keep in mind when you do! The first thought that comes to mind has to do with "empty nesters". This basically implies that a couple or a parent is living in a larger home they purchased ...

Are Secondary Suites Legal in Your Area?

The City of Kelowna in BC recently approved a new process for secondary suites in single-family homes. The new process makes it easier and cheaper for homeowners to build legal secondary suites in the hopes that it will provide more affordable housing in the city. What's a secondary suite? It's a private, self-contained unit in an existing home. Also known as "mortgage helpers" or "in-law suites", ...

Home Inspections: The Lowdown

What is a home inspection? A home inspection is visual investigation of a home’s structure and components to find malfunctioning or unsafe issues within. Some of the possible components to be inspected are: heating system central air interior plumbing electrical energy audits visible insulation walls ceilings floors roof attic windows doors basement foundation mold ...

Elements of an Offer Explained

There are six key components to the elements of an offer. They are: Price Depending on the local market conditions and information provided by your Real Estate Professional, the price you offer may be different from the seller's listed price. It can often take some negotiation to come up with a price that you and the seller are happy with. Deposit Your deposit shows good faith and will ...

Real Estate Q & A's

Why pay more? Q: What are the benefits of paying more than a 5% down payment? There are many benefits to putting more than 5% down. The larger the down payment, the lower the cost of your overall mortgage in the long run and you will save money by paying less interest. If you can put as much as 20% down, you will avoid paying mortgage insurance. Mortgage insurance is mandatory if you put less than ...

Relocating for Work

Years ago, I was finishing my degree in Vancouver with one co-op term left before graduating. There were some really good positions in Vancouver to choose from, but the one that caught my eye was a one-year term in Victoria with the Government of British Columbia. It had all the work opportunities that I was looking for, so I packed my bags and ferried over to Victoria. Picking up and moving to a ...

Torn Between New Versus Older Homes

Home buyers are often faced with the question of “Should we buy a new home or an older home?”  There are, of course, pros and cons to either option. Consider some of the following when deciding on which option suits you the best: New Home Advantages Modern designs accommodate current lifestyles. For example, some new homes will have larger rooms, an open concept, or more closet ...

I'm Ready to Buy...How Many Homes Should I Look At?

This is another question that I get fairly frequently, especially from first-time buyers. There is no answer that is correct for everyone, but it's something you should definitely talk to your REALTOR® about as you start your search. When you sit down with your real estate professional before you look at your first homes, you probably have a basic idea of what you want; things like how many bedrooms ...

Get Moving!

Did you know that for most people, the process of moving to a new home ranks as one of the most stressful events to deal with? It seems everyone knows of a moving horror story – from couches that had to be thrown over the balcony to beds that didn’t actually fit in the room to a lot of other unexpected situations.  I remember thinking, “where did this never ending pile of ...
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