Kamloops Property For Sale Real Estate Blog - Buying a home

Kamloops near the top of B.C. home affordability study

Kamloops is one of only four markets in the province where homes for sale align with local earnings, according to a study of 20 B.C. markets by real-estate search and data website Zoocasa.

The findings are based on a summary of October benchmark and average home prices as reported by local real estate boards, the income required to afford the homes and regional median incomes as reported by Statistics Canada.

Kamloops is one of only four markets in the province where homes for sale align with local earnings, according to a study of 20 B.C. markets by real-estate search and data website Zoocasa. 

The findings are based on a summary of October benchmark and average home prices as reported by local real estate boards, the income required to afford…

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All about zoning . .

Have you been looking at homes to buy in Kamloops? Have you seen the line "zoning"? What does it all mean?

The city of Kamloops like all other cities across BC and Canada use a system of zoning on every home and piece of land. There are many of these zones and obviously some of them do not apply to Kamloops home buyers.

The full list is large but we can look at some of the most important ones that apply to residential property. To see the full list click here and get the inside scoop.

A-1 (AGRICULTURAL)
FD (FUTURE DEVELOPMENT)
OS (OPEN SPACE)
P-1 (PARKS AND RECREATION)
P-2 (CHURCHES)
P-3 (SCHOOLS)
P-4 (PUBLIC AND QUASI PUBLIC USE) 
P-5 (PRIVATE RECREATIONAL)
P-7 (FUNERAL HOMES)
CR-1 (COUNTRY RESIDENTIAL-1)
CR-2 (COUNTRY RESIDENTIAL-2)
CR-3 (COUNTRY…

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Eight Steps to Closing the Purchase of Your New Home

So, working with your real estate agent, you have found your new home and, with assistance of your mortgage professional, you have arranged for a mortgage. What’s next?

It’s time to hire a lawyer or notary public to help with the legal process to finalize the purchase of the home.

Here are the eight steps you will need to go through.

Step 1: Retain the services of a lawyer or notary. Ask your other professional advisors for a referral or family and friends that have gone through the process. Make sure you are hiring someone with experience in real estate closings. Most closings go smoothly but if something unexpected happens you want to make sure your lawyer or notary public has the necessary expertise. You should contact your lawyer or notary as…

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Underground Oil Tanks -- What You Need to Know

Many homes in the Kamloops area built before 1957 were originally heated with furnace oil. When natural gas became available, the oil storage tanks, which were normally located underground in backyards, were filled with sand or capped.

However, as these unused buried oil tanks start to corrode and rust, the remaining oil can leak out and flow onto the rest of the owner's property, the neighbour's property, storm sumps and waterways, resulting in contamination of soil and water. Apart from the negative financial impact on the market value of the property, the owner can face substantial legal liability under various statutes and bylaws for such contamination.

The BC Fire Code and bylaws of twelve municipalities (including the City of Vancouver) all…

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Smart Ways to Clean for a Healthier Home Before Moving In

You’ve bought the house — it’s all yours. However, something’s not quite right. When you walk in, there’s a funky odor, and you’ve noticed some gunk in the air filters. These are signs that all is not well, as a little bit of dirt can hide a lot of pollutants and allergens. That problem needs to be nipped in the bud with a deep cleaning before the movers show up with your furniture.

Before you bust out the mop and bucket, here are a few tips to make sure you do it right. In the end, you’ll have a home with pure air that’s healthy to live in.

Test for Radon

To find out more about Radon gas see our BLOG article here

Radon is a radioactive gas created by the decay of uranium in the natural environment, and it can easily enter your home without…

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Mortgage Professionals Canada pushes for stress test re-evaluation

Industry group Mortgage Professionals Canada (MPC) have raised some issues regarding the stress test, specifically its capacity to deter many Canadians from the home market. For this reason, the association is asking the government to reassess such policies.

While the government's good intentions regarding these regulations were acknowledged, MPC said that there is a need to address the condition of many Canadians – millennials, single parents, or recent immigrants – who are seeing increased difficulties when it comes to in owning a home.

"Fewer Canadian now are able to obtain the mortgage they need to acquire a home, and many sellers now find fewer buyers to sell their home too," said MPC President and CEO Paul Taylor.

“As we first outlined at…

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When Is The Best Time Of Year To Buy A Home?

One question that pops up constantly from both first-time and seasoned homeowners alike is "When is the best time of year to buy a home?"

Potential homeowners want to know the best time of year to get the best home for the lowest price - and ideally, at a time that makes sense for their life. It would be great if there were a simple and straightforward answer, like "the best time of year to purchase a home is between April 1 and April 7." But unfortunately, it's not that simple. Let's take a look at the factors that play into answering the question "when is the best time of year to buy a home?"

Convenience

The first factor to consider when buying a home is convenience. This is particularly important if you have a family. If you have school-aged…

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Will new cannabis laws affect your home’s value?

Under new federal legislation, Canadians will be able to grow up to four marijuana plants in their private residence.

But a lack of protections and awareness could cost them thousands – or even their mortgage.

Sentiment on smoking and cultivating marijuana at home still largely negative, finds new Zoocasa survey.

With the new cannabis laws coming into force, would growing pot at home reduce your property’s value? What about smoking weed at home? Do you think a new cannabis store in the neighbourhood would help or hinder a home sale? A majority of Canadian homeowners (64 per cent) believe that a home where the owners smoked pot would see a decreased value, according to a survey released October 16 by real estate website Zoocasa.

And 57 per cent…

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Divorce and Seperation in Canada - Things you need to know

Are you thinking about a separation from your spouse? How does that effect real estate?

Then you need to know the legal ins and outs when it comes to separation under Canadian law. This article will go over some ideas that many people have about separation so that you will know exactly what your Separation Agreement must include.

Always take professional legal advice

There is much to consider during a divorce, but one of the most basic questions is “Who gets what?” For some couples the division of property can get very messy, while others are able to deal with it quickly and easily. Under Canada’s Constitution, each province and territory is responsible for laws regarding the division and/or equalization of family or marital property, and these…

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Private Mortgage Lenders For Bad Credit

Are you in need of a Bad credit mortgage loan lender? Are Banks and Brokers saying no?

When most people think about the process of applying for a mortgage, they think about going to a bank or other lending institution depending on where they live. Private Mortgage loans are short in term, ranging from six months to three years. They are based on assets or a hard money real estate loan. What determines whether or not you get the loan depends on the value and equity of the property that serves as the collateral, rather than the credit of the party taking out the loan. Many professional real estate investors who want to purchase, renovate and “flip” a property, or liquidate the equity from property that produces income use Bad Credit Mortgage Lenders.…

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