Projects that can increase -- or decrease -- the value of your home

Canadians are investing in home improvement like never before.  While most plan to spend reasonable sums, others say they'll go all out: luxurious materials, home theatres, a Jacuzzi on the patio...even $60,000 kitchens are not that unusual! But how much of their investment will be recovered when their house sells?

Homeowners tend to embark on renovation projects to meet their needs, improve their quality of life or simply pamper themselves with a little luxury. But even if you're renovating primarily for your own sake, you should try to assess the post-project increase in the value of your house, just in case you ever want to sell. There is also the fact that a renovated house will

When friends, family become partners

With home prices moving ahead at a healthy clip, people are choosing to purchase a property with a friend or relative.

A lot of individuals, particularly younger adults, feel as if they have been priced out of the market so go in with a friend or a sibling to purchase the property. I see that as a trend that is going to gain momentum.

However, whether you are purchasing with a friend or relative this is essentially a business deal.

If you're looking at buying a property together, friends are no different from business partners. Consult a lawyer and consider what you are doing, the parties could enter into an agreement ... they should consider that they are business partners. The business is owning a

Need to use the rental suite income of a home to qualify for a big enough mortgage? Here’s how to maximize the mortgage

How much of a mortgage do you qualify for? You went to your bank and they told you $xxx,xxx – are they right? Your dream house costs a bit more, so is there any way to get the extra funds? If the property has a rental suite, and you have a good mortgage broker on your side, the answer is likely “yes”.

We have all heard the term “mortgage helper”. In fact, 25 per cent of detached houses in BC contain a rental suite and this rises to almost 40 per cent in the Lower Mainland. In Vancouver alone there are 26,600 rental suites (out of about 47,000 detached homes), and this accounts for roughly 20 per cent of all the rental stock in the

If you fall in love with a fixer-upper, you may find yourself in a tough spot figuring out how to pay the mortgage and cover the cost of renovations or postponing renos until you can afford them.

 Main Benefits of a Purchase-Plus Improvements Mortgage:

The little-known CMHC improvement mortgage (previously known as the purchase plus improvements program (PPIP)) allows home buyers in that scenario to borrow money to buy and immediately renovate a home with funds from their mortgage lender rather than taking out a separate line of credit that usually carries a higher interest rate and adds another layer of complication to their financial life.

PPIP is generally available with as little as five per cent down. However, buying with less than 20 per

Is It Possible to Get a Mortgage with Bad Credit in Canada?

You had a few financial setbacks when life’s speed bumps tripped you up, but now you’re on the right path and are ready to take the leap into home ownership. The only problem is: you’re not sure if your pesky credit history is going to prevent a lender from giving you a mortgage loan. The good news is there are some options available to you; the bad news is they don’t always come cheap. Here’s a quick breakdown of how you can check your credit score and, if you need to, get a bad credit mortgage. While many brick-and-mortar banks consider customers with poor credit to be high risk, there are lenders who are willing to extend loans to clients, regardless of their payment history. One option is

With the upcoming preparation and approval of its budget next month, the British Columbian government is set to tackle housing relief as a primary concern.
 
Premier Christy Clark said on Tuesday (January 12) that luxury or speculation taxes won’t be implemented in the government’s bid to moderate Vancouver’s surging housing market, which has put an increasing number of homes out of reach of a growing fraction of would-be owners.
 
Clark did not give further details, only saying that the measures would focus on providing relief for first-time buyers without devaluing the properties of current owners.
 
“We’re thinking of a whole range of things. You’ll see more of it as we get closer to the [Feb. 16] budget,” Clark told media in a press conference, as

Spring and all its glory is right around the corner—just take a look at the signs all around you.

No, we’re not talking about the budding flowers or the chirping birds—we’re referring to those “For Sale” signs that start popping up on lawns across the country as the weather starts heating up.

And once the home-buying season commences … so do the bidding wars and mad dashes from one open house to another.

Since the housing market can be a tricky one to suss out, we asked agents across the country to give us their assessments for this season’s real estate landscape.

Their overarching observation? This will be a competitive home-buying season—so if you snooze, you may lose out on that perfect home you’ve been eyeing.

The current market is a

So are you looking to buy a home in Kamloops? Tired of looking on www.mls.ca and constantly sorting out the good from the bad? Ever wonder how folks get to see the latest properties first?

Why not give me a call today and I can set you up on your very own Private Client Services (PCS) program.

PCS is your very own web based page that we setup together. It uses your criteria for location, price, bedrooms etc. and will email you a list of properties that match your specifications, not only that but you learn about new properties before they hit mls.ca. In today's market of low housing inventory that could be the difference in getting your home or losing out.

Its free and there is no obligation whatsoever, you can cancel anytime or request the

Canada’s Housing Market Posts Strong Growth in Fourth Quarter Led By Gains in Country’s Largest Markets 

TORONTO, January 13, 2016  – Canada’s residential real estate market showed strong growth in the fourth quarter of 2015, led by hot Vancouver and Toronto markets according to the Royal LePage House Price Survey and Market Survey Forecast released today. Looking forward to 2016, Royal LePage expects continued price increases in most markets, but not at the pace that has been the recent norm. Instead, the national real estate market is expected to slow later this year, principally due to the effects of a dampened economy in Western Canada and eroding affordability in Toronto and Vancouver.

According to the Royal LePage National House Price

Buying Home Insurance

As a homeowner, you need to insure your house for replacement costs so that in the event of serious damage or destruction you have adequate coverage. Be sure to keep your home insurance current by reporting material changes or upgrades.

Bricks, Mortar and So Much More

Home ownership is one of the largest financial investment decisions Canadians make. Your home may be your biggest source of equity. No matter how well built, your home is vulnerable to fire, vandalism and other types of damage and destruction.

What Is Covered

Coverage can vary from one insurer to the next, so it’s important to select a policy that suits your specific needs. Home insurance covers the dwelling, contents and personal liability of you (the