Posted on July 3, 2018
When you see a new home you like on the market, it’s easy to get distracted by all the features you love – the wrap-around backyard deck or the spacious recreation room that has plenty of space for entertaining. You just need to make sure that in all your excitement you don’t overlook any expensive maintenance issues that could be just around the corner.
Nothing lasts forever. The major components of every home – from the furnace to the roof shingles – need to be replaced eventually. But, knowing when those maintenance issues are likely to arise can help you make a smarter decision about the home you’re considering.
How do you do that?
When viewing the property, ask for the age of the major components of the home, such as the roof shingles, furnace, air conditioner, water heater, and appliances. You might think the roof shingles look merely weathered in spots and have years of service left – when in fact, they’re due to be replaced next year.
Also pay close attention to the backyard deck, fencing, flooring, and windows. Do any of those components look aged, worn, and in need of repair or replacement sometime soon?
Finally, don’t forget to check the kitchen and bathrooms. Sinks, faucets, bathtubs, showers, and cabinetry have a life-span of about 10-15 years.
Of course, there are things you can’t see on your own, such as wiring, plumbing, venting, and other components of a property that may require maintenance. That’s why you should always make any offer to purchase a home conditional on passing an inspection by a qualified home inspector.
Want more ideas on how to buy the right home? Call today 250-744-0775
Posted on June 18, 2018
Sometimes we don’t get to choose whether or not to sell our home and buy another one. Circumstances, such as a job relocation, may make that decision for us.
However, most often, the decision to move is discretionary. Sometimes people move simply because they think it’s a good idea. They feel that “now” is the right time to find their next dream home.
So how do you make that kind of decision?
There are, of course, many reasons to make a discretionary move. Usually those reasons fall into one of two categories: need and want.
You may feel you need to find a new home, because you’ve outgrown your current property. Perhaps you have a growing family and require more space. Maybe you’re doing more entertaining and need a larger backyard with a more spacious deck. It could be that the commute to work is arduous and you need to move to a place that’s closer.
Those “needs” may motivate you to move, but sometimes a “want” can play an important role too.
For example, you may want to live in a quieter neighbourhood or in a newly built home that requires less maintenance. Maybe you simply want a change.
If you’re thinking of making a move, take a moment to write down a list of your needs and wants. Seeing them on paper will help make the decision easier.
Looking for expert help? Call me today 250-744-0775
Posted on June 11, 2018
Sometimes the mortgage lender will ask for a land survey, especially if your property is older and hasn’t changed hands in many years. You might also be asked for one by the buyer if there is any confusion about the size and boundaries of your property – or if significant changes have been made to it in recent years.
This is nothing to be concerned about.
A qualified Property Surveyor will do the appropriate inspections and measurements on your property and issue you the survey. (It looks a little like a blueprint.)
Property Surveyors are highly trained and licensed. Professional Surveyors Canada (PSC) represents the profession nationally, and most provinces have their own professional associations.
Before spending the money on a new land survey, make sure you don’t already have one. Hopefully, you’ve stored the paperwork that relates to the purchase of your home. Look through it. A valid land survey might be right there.
If you have questions about land surveys, call me today 250-744-0775
Updated on June 6, 2018
“Jane is a master at what she does. We had full confidence in her and trusted her to guide us while making such amazing life decisions. Jane, is not just a realtor, she reassured us at every pass, answered all our many questions with speed and honesty and became invested in our journey as much as we were. I was able to connect with her whenever I needed and always felt that she had our interest on the forefront. Her professionalism is only matched by her humor and understanding nature.”
Posted on May 31, 2018
If you are thinking of buying or selling I’d love to chat 250-744-0775 or email@example.com
Updated on May 31, 2018
Slower Growth Expected for Economy and Housing Market
BCREA 2018 Second Quarter Housing Forecast Update
Vancouver, BC – May 31, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 Second Quarter Housing Forecast today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 9 per cent to 94,200 units this year, after posting 103,700 unit sales in 2017. MLS® residential sales are forecast to remain relatively unchanged in 2019, albeit down 0.2 per cent to 94,000 units. Housing demand is expected to remain above the 10-year average of 84,800 units into 2020.
“The housing market continues to be supported by a strong economy,” said Cameron Muir, BCREA Chief Economist. “However, slower economic growth is expected over the next two years as the economy is nearing full employment and consumers have stepped back from their 2017 spending spree.”
“Demographics will play a key role in the housing market over the next few years,” added Muir, “as growth in the adult-aged population is bolstered by immigration and the massive millennial generation enters its household forming years.”
Muir notes there are, however, significant headwinds in the housing market. “Rising mortgage interest rates will further erode affordability and purchasing power, with the effect being exacerbated by an already high price level. The legacy of tougher mortgage qualifications for conventional mortgagors will be a reduction of their purchasing power by up to 20 per cent, and the provincial government’s expansion of the foreign buyer tax and several other policies aimed at taxing wealth is sending a negative signal to the market and likely diverting investment elsewhere.”
The combination of slowing housing demand and rising new home completions is expected to trend most BC markets toward balanced conditions this year, and lead to less upward pressure on home prices.
To view the full BCREA Housing Forecast, click here.
For more information, please contact:
BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.