Kamloops Property For Sale Real Estate Blog

Millenials and real estateIn a nationwide survey of over 9,000 prospective homebuyers carried out on its platform, Point2 Homes found that 66% of the Millennials interested in purchasing a home would like to do so within one year.

However, almost half (49%) of the survey-takers aged between 25 and 38 years old have savings significantly under the national average down payment amount, which is $25,000. Moreover, some of the Millennials in the survey state that they haven’t managed to set aside anything at all, meaning that the desire to buy a home might be in conflict with Gen Y’s budgetary realities.

Most Millennials Set Aside Less Than 10% of their Monthly Income

35% of Millennials state that they set aside less than 10% of their income each month and 30% of respondents

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Kamloops investment PropertyThere are some parts of Canada where the prices of real estate have already shot up toward what is likely to be a peak for the time being.

In some other areas, though, the markets are just heating up, and interest rates are still relatively low. This makes this a terrific time to start investing in real estate. However, if your liquidity is on the low side, where do you get the funds?

Why borrow against home equity?

What is home equity? It’s the difference between the market value of your home, as determined by an appraisal, and what you owe on the mortgage. If you bought a house for $750,000, and you’ve paid down the balance on the mortgage to $250,000, but the value of the home has gone up to $900,000 in the years since you bought it, you have

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Home surveilance camera and real estateMany homes these days have surveillance equipment ranging from high-tech motion detector and video cameras to so-called “nanny-cams.”

Home buyer beware! The seller may be watching. And listening.

A growing number of home sellers are using security cameras and microphones to watch potential buyers as they tour their houses or condos. They then may use what they hear or see as leverage in price negotiations.

Home sellers also use such equipment to protect their belongings during open houses and showings. The trend has been fueled by the spread over the past five years of inexpensive Wi-Fi enabled cameras and mics that homeowners can buy and set up themselves for home security. Motion sensors notify them by text or email that a visitor is in their

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Buying Kamloops Real EstateWhen buying a home – most of the negotiations occur before the seller and buyer sign the contract.

You’ve found the perfect Kamloops home for sale. You write an offer.  It gets accepted. And now, you feel like the transaction is a done deal.

Although, the negotiations don’t necessarily end with the acceptance and signing of the purchase contract. In fact, sometimes negotiations continue after the signing. In many cases, just after the buyer home inspection, issues typically arise, and any such issues can spark another round of buyer and seller negotiations.

So, you do the home inspection, which brings up a whole slew of issues. The electrical wiring isn’t up to code, there’s water leaks in the basement, and squirrels have wreaked havoc on the

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Kamloops rentalsBritish Columbia and Ontario continue to be the most expensive place to rent a room, or rooms, in Canada.

Canada Rent Rates A new rental report from PadMapper shows that Montreal is the only city in the country outside of those two provinces to crack the top 10.

Toronto takes the top spot for priciest one bedroom units with an average cost of $2,270, but Vancouver is easily the most expensive market for two bedroom units with an average cost of $3,280.

Alberta's major cities managed to stay out of the top ten, with Calgary and Edmonton ranking 13th and 18th respectively.

In Calgary, one bedroom units average out at $1,130 a month, while in Edmonton the average cost of a one bedroom home is $950.

On the east coast, Halifax leads the way at 16th with one

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Kamloops Home ValuesSeveral factors affect the value of a house, and a single house may be valued at varying figures.

The two assessments of primary concern to buyers and sellers are the market value and the appraised value but other factors such as appraised also comes into play. Understanding a home’s true market value is about more than pictures, software assessments and price-per-square-foot. Whether you’re a current homeowner thinking of selling or are house-hunting, it’s crucial you understand what factors affect home valuation. By partnering with a local market expert, sellers will avoid pricing their house out of the market (the kiss of death in real estate) and buyers will ensure they get a good deal on their next home. 

The market value of a home is

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Costs of running your homeHomes cost a lot of money to maintain.

But are you spending extra money unnecessarily on upkeep? Here are the 10 most expensive mistakes you could be making in your home.

1. Using Traditional Light bulbs

If you still have incandescent light bulbs in your home, you could be throwing a lot of money away every month on inflated electric bills. Over its life span, an incandescent bulb can use $180 worth of electricity. A CFL will only use $41 worth of electricity over the same time period. Even better is the LED bulb, which only uses $30 per bulb. Think what replacing every light bulb in your home could do to your home's bottom line.

2. Ignoring a Leaky Faucet

A leaky faucet that drips one drop per second can waste more than 3,000 gallons per

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Help your kids save money in KamloopsCreating good spending habits is a very valuable skill for anyone.

Did you have good habits before you left home? If not, what kind of difference would it have made in your life? In the current world economic environment it is more important than ever to get your kids to understand the true value of money. With interest rates for saving low it is critical that as your kids look to move out of the family home and into their new life they can manage their financial obligations and be able to afford the essential items for life. When still young it's a great time to start showing them the costs of things and getting them to manage money early in life. Here are a few powerful concepts that can make a huge difference in the way your teens manage their

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Ask your Kamloops Realtor QuestionsAsk your Real Estate Questions

It’s time to sell your home and you have a few questions that you need to clear up, as they’ve been weighing on your mind; some more heavily than others.

You won’t be the first to ask such a question and that you’ve been afraid to ask a Realtor. Please understand that your question(s) have likely been asked before by home Sellers. Ask the question. Clarity is essential for peace of mind. Without peace of mind, how could you ever begin to prepare for selling a home.

Can I exclude something from my home sale?

If you absolutely must exclude something from your home sale, it must be made known upfront for any prospective Buyers. For example, if that one of kind, hanging chandelier over your dining room table is a

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Smoke smell in houseA smoker’s home can be a massive deterrent to potential buyers.

Not only does smoking leave strong smells in your house, it can also stain walls, cause wallpaper to peel, and stick to furniture. Trapped nicotine residue, known as thirdhand smoke, can pose a threat to anyone living in the home. Here are five ways to get rid of signs of smoking from your home to make it appealing to buyers.

Steam clean carpets
Carpets trap nicotine residue more than anything else in the home and can protrude lingering odors. If you have a carpeted home, take the time to deep clean it with a powerful steam vacuum. Use carpet shampoo and routinely go over areas where smoke stains and odor are most prevalent. Hire a professional steam vacuuming company if you need help.

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