Here are five strategies that can help you keep your peace of mind amid the uncertainty over the direction of the housing market.
1. Plan to live in your home for at least 10 years.
Housing forecasts range from a soft landing to a hard decline – and then there are the dreamers who believe prices won’t ever stop rising. What all these views have in common is that they target the near to medium term. If you’re planning to stay put in your current home for 10 years, you have a good chance seeing the market recover from any declines to come and begin the next up-leg. Warning: The Toronto...
And the majority of past buyers—when asked about their first house purchases in a TD survey from August 2012—said there were three things they would have done differently:
More than half would have put together a more thorough budget that included all possible costs of home ownership (60%)
The majority would have increased their down payments to 20% of the home’s value (60%)
Before clients jump into the process, however, help them decide if the time is right. The survey finds the top reasons people decide to buy are because they’re sick of paying rent...
Adding value to your home is the number one concern for most homeowners. It doesn’t matter if you’re prepping to sell or looking to build long-term equity, knowing the right renos to invest in is important to ensure you get the most bang for your reno buck.
5. Flooring Ever wonder about the number one request from both homeowners and tenants when they’re looking for a home? Hardwood floors. And why not? Hardwood looks amazing, is timeless and is incredibly durable. It’s also expensive, so it’s wise to weigh your options before shelling out big bucks for the big impact that hardwood delivers. You can go with traditional hardwood or engineered hardwood, or if hardwood isn’t what you’re looking for...
Writing a competitive offer when buying a home allows you to get your offer accepted. The first time.
Having a Realtor on your side who not only knows the local community and its housing market, but also how to help offer you advice on writing a great offer the first time is key.
It’s not just about being the “highest bidder” when writing offers, but rather the bidder who offers a competitive price and places the fewest restrictions on that offer. Think of it this way, as the seller, you prefer to work with less demanding bidders over those who may offer the highest price but have strings attached with the contract. So, when you write your offer with your Realtor’s advice and expertise, you need to do so with the seller...
Completely remodelled, right down to the studs in 2000. NEW: floors, doors, windows, kit & bathrooms, new furnace, hot water tank, roof, sprinkler system & 2" blinds thru-out. This home is a must see with it's big bright master bedroom & 3 piece ensuite with oversized shower. 3 bedrooms & a bonus room upstairs. You will love the beautiful big chef’s kitchen with tons of cupboards, counter space & centre island complete with 5 burner gas range, snorkel backsplash & breakfast bar! Separate formal dining room and a living room with gas fireplace. Nice open family room off of the kitchen with...
Contemporary open floor plan with 9' ceilings & galley style kitchen centrally located between the Living Room & Dining Room, ideal for entertaining. Heritage doors & baseboards thru-out, & a 5 pce designer bathroom with soaker tub, large separate shower & full sized vanity with Kohler sink & faucet. Large master bedroom with his & hers closets & Mountain View. Wide open kitchen with tons of cupboards & counter space, stainless steel appliances, built in microwave & a breakfast bar. Separate formal Dining Room could be a cozy family room. Nice bright living room w fire place & recessed mantle for your flat screen TV &...
Every homeowner must pay for routine home maintenance, such as replacing worn-out plumbing components or staining the deck, but some choose to make improvements with the intention of increasing the home's value. Certain projects, such as adding a well thought-out family room - or other functional space - can be a wise investment, as they do add to the value of the home. Other projects, however, allow little opportunity to recover the costs when it's time to sell.
Even though the current homeowner may greatly appreciate the improvement, a buyer could be unimpressed and unwilling to factor the upgrade into the purchase price. Homeowners, therefore, need to be careful with how they choose to spend...
Finance Minister Jim Flaherty has been concerned about the sale of 30-year uninsured mortgages because the risks from some of these loans are ultimately being transferred from banks to taxpayers – and that’s part of the reason why the banking regulator is now weighing changes, sources say.
Mr. Flaherty has tightened the country’s basic mortgage insurance rules four times since the financial crisis, most recently last July, in bids to stop consumers from taking on too much debt, to cool the housing market, and to protect government coffers. Mortgage insurance is...
UBC professor says inexpensive child care spaces could ease real estate pain
By Tracy Sherlock, Vancouver SunMay 10, 2013
The George Pearson Centre has become an election issue as the property is for sale by the Liberals and the NDP suggest it would be better to keep the land for housing. Expensive housing is nothing new in B.C. and will be a challenge for any political party voted in.
Photograph by: Ward Perrin, PNG , Vancouver Sun
It's old news that it's expensive to live in Vancouver, where splashy headlines about terrible housing affordability are the norm.
With a provincial election approaching, The Vancouver Sun surveyed experts for ideas about what a new government could do to make housing more affordable. The...
The good news is that Port Coquitlam homeowners are expected to pay less in property taxes this year than the city had initially planned.
The bad news is that the same taxpayers may have forked over more than was necessary in 2012.
A review of council’s approved funding decisions conducted by the city’s finance staff found that a planned infrastructure reserve transfer was duplicated in this year’s financial plan.
(The infrastructure reserve, established in 2010, has collected 1% annually to address the gap in funding needed to replace aging roads and facilities.)...
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.
Subscribe with RSS Reader
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.