Navigating the Landscape: Understanding Real Estate Taxes in British Columbia.

n the dynamic realm of real estate, potential buyers, sellers, and investors in British Columbia must be well-versed in the intricacies of taxation to make informed decisions. Various taxes can impact real estate transactions, shaping the financial landscape for both individuals and businesses. In this blog, we will delve into the key taxes that may affect real estate transactions in British Columbia.

[NEW] Flipping Tax

Starting in 2025, the BC Home Flipping Tax is a 20 per cent tax on the gain from...

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Buying a home that was built prior to 1980

Are you in the market to buy a home in British Columbia? If you're considering purchasing a home that was built prior to 1980, there are some important things you should be aware of. Homes built before this time period may have unique features and potential issues that you need to consider before making a decision. In this blog, we'll explore some key factors that home buyers should be aware of when buying a home in BC that was built prior to 1980.

  1. Building Codes and Regulations: Building codes and...

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Official release of the final homes at VIVA

Viva just released its final homes for sale. Located in Sullivan Ridge, once of the most desirable residential neighbourhoods in Surrey. Conveniently located 35 minutes from Burnaby, 35 minutes to Richmond, 30 minutes to Langley and 20 minutes to the USA border.  A commuters dream close to schools, restaurants, transit and just 4 blocks to Sullivan Square shopping centre.

Viva features a beautifully landscaped courtyard and has a selection of Studio, I bedroom and junior 2 bedroom suites...

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7 Tips to Navigating the Buying Process
While most buyers expect to live in their homes an average of 14 years, the typical tenure is close to nine years. That means the average buyer will go through the process of buying a home about once a decade. The real estate market is always changing - the process of buying a  home has evolved in the past decade, here are a few tips to help you navigate through it.
Give a real estate professional a call as soon as you start thinking of buying. A real estate professional can provide valuable guidance...
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Buying a Strata? Understand the depreciation report estimates!

Depreciation Reports or Reserve Fund Studies are a useful tool that enable strata corporations to better plan for future repair and/or replacement, and maintenance of common property and common assets over the life of the assets. 

Special levies are a fact of life when buying into a strata, you will never completely avoid it. As an owner you should view these as an investment in the maintenance and of your home. However no one wants to purchase a home and immediately be saddled with...

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The average buyer visited or considering 10 homes before buying.

For the majority of homebuyers, finding the right property to buy is often the most difficult step of the home buying process, more difficult than saving for a down payment or getting a mortgage. Before you start you search, consider these four important factors. The average buyer visited or considering 10 homes before buying. 

-How much house can I afford? Knowing what you can afford will help you narrow your search to homes within your budget. Make a list of expenses you’ll have when...

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Buying the Home Everybody Wants

When you’re shopping for a home in Sellers market, you may become interested in a property for sale that several other buyers are interested in. What should you do if you really love that home? Obviously, you’ll need to move quickly and make some fast decisions. Start by making certain the property fits within your price range. The last thing you want is to have an offer accepted and find out it is beyond your budget. That’s why it’s a good idea to arrange for financing...

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7 Things to Look for in a New Neighbourhood

Whether seeking solace, activity, schools, churches, or green space, every homebuyer looks for a different combination of attributes in a new community. Choosing a neighbourhood that suits your needs and wants is one of the most important decisions you’ll make in the home-buying process; your choice of environment will affect the way you experience your new home. This is a very personal decision, influenced by countless unique factors colouring your own lives, but you should always keep the...

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How to Set an Offer Price

There is no set equation to determine how you’ll reach an offer price. Rather, the process involves a range of research and comparison that will vary with each situation. You’ll need to look at sales of comparable properties, and factor in additional data such as the condition of the property, the current market, and seller circumstances. With this information in hand, you will be able to determine a fair price range and, from there, establish the price you’re willing to offer.
C...

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  Buy or Sell First?

If you are considering looking for a new house, and are a current home-owner, then chances are you’re wondering what your strategy should be: do you wait to find the perfect new home before you put your current home on the market, or do you sell first and then look around? You have a few options. Use the following as a guide to explore what might be the best move for you.

Sell First:

There are several benefits to selling your current house before searching for your next home. First of all, once...

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Buying a Home: What Expenses to Expect
Budgeting for a new home can be tricky. Not only are there mortgage installments and the down payment to consider, there are a host of other—sometimes unexpected—expenses to add to the equation. The last thing you want is to be caught financially unprepared, blindsided by taxes and other hidden costs on closing day.
These expenses vary: some of them are one-time costs, while others will take the form of monthly or yearly installments. Some may not even apply to your particular case. But...
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How to Find a Home that Has your “Big Three”

How do you find the home of your dreams within a price range you can afford?

Most buyers start by making a “wish list”. But, it’s easy to get frustrated when you have a long wish list and expect you’ll be able to find a home with every one of those features. You might, for example, have “mature backyard tree” as number 23 on your list, and become disappointed when an otherwise ideal property doesn’t have one.

But when you really think about it, your ideal...

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What if your Ideal Home Isn't Available?
Imagine you're looking for a new home. You have a list of all the features you want, just like you would have a grocery shopping list. However, when you explore the homes currently on the market, none meets all your criteria.
What do you do? You have a few good options.
First, you can take a second look at your list. Does your new home need every single feature on it? Are there one or two features you can do without? For example, can you settle for a smaller kitchen assuming the property has everything...
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Buying a Home that Needs Some Work

When you’re shopping for a new home, you probably want the property to be as “move in ready” as possible. That way, you can... well... just move in!

However, there are a lot of fantastic properties on the market that need some work. For example, you might see a home that has everything you need, but the kitchen is long overdue for a renovation. Or, you might view a property that requires a lot of repairs and painting — tasks that, at first glance, seem overwhelming.

You don...

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Get Front-of-the-Line Access to Desirable Homes for Sale
As you've probably noticed, credit card companies regularly offer bonuses to get you to apply for their cards. For example, one such card company offers opportunities to buy tickets to concerts and other events ahead of everyone else. It's their "front of the line" service.

When you’re searching for a new home, wouldn't it be great if you could get to the front of the line on desirable properties – before other buyers get the chance? Well, in a way, you can. The first thing you need to...
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Buying waterfront property. Know the risks!

What kind of waterfront did you have in mind?
The type of waterfront to buy is the first decision you’ll have to make; enjoying a vacation once a year at the beach doesn’t mean you’ll enjoy dealing with wind and beach sand on your patio every day. Not all lakes, rivers are created the same, some are conducive to recreational activities, others are not. Know why you are buying waterfront; more importantly what kind of lifestyle are you hoping to achieve.

- Research the area, the...

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Buying a home in 8 steps.

There are many financial and personal benefits to home ownership.
1. Preparing to buy. 
Begin the process only when you are ready to buy and part of being ready to buy includes answering these questions. When do you need to be in the home? How would your plans change if the purchase occurred sooner or later that anticipated? Who else is involved in the decision to buy? Is everyone involved in the buying process committed to buying? How does your job factor into the decision? If you are renting,...

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Buying Your Dream Home in a Hot Market

Imagine finding the perfect home, only to discover there is serious interest from at least a dozen other buyers. It’s like scrambling for the last piece of cake at a buffet! Fortunately, there are things you can do to help get the home you want, even in a highly competitive market. Here are just a few ideas:

• Only view a few ideal properties at a time. If you see too many, and thus spread yourself too thin, you risk homes slipping through your fingers.

• Be very realistic about price....

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