Moving to Kamloops? Read this article from a past mover.

Looking to move to Kamloops? Want to know more about the city?

Here is an article first published on a lawstudents.ca website highlighting the experience of a couple moving from Calgary to Kamloops.

When we moved to Kamloops from Calgary, I thought for sure that I would miss the hustle and bustle of the big city, along with its zany politics and daily happenings. We lived in Hillhurst (inner city) and took advantage of Calgary's many festivals, farmers' markets, restaurants and night life. While I was sure I would make friends and that law school would provide more than enough entertainment, I expected Kamloops life to be otherwise pretty boring. Probably a fairly natural big city perspective. Those coming from Vancouver had much the same…

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Where to get free things on your birthday

Find the best freebies on your special day

All we read about is what everything costs so lets lets at something that is free. What’s better than free stuff on your birthday? How many retailers actually offer birthday freebies.

The answer? There are dozens of retailers and restaurants giving away free stuff to customers on their birthdays. To claim some of that booty, you’ll have to register online to their newsletter or loyalty program, while for others, no extra effort (apart from showing up and maybe flashing your I.D. as proof that yes, it is your birthday) is required. Not all of the retailers below might be close but hey its worth having a look!

Here are a few birthday freebies you should consider getting your hands on this year. Just check…

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B.C. real estate market forecast for 2017

Turns out 2017 might be the year when B.C. home buyers will finally get a break. But don’t bother throwing a party, yet.

Price drop is due to a lack of supply 

The Canadian Real Estate Association (CREA) predicts prices will drop by about 7.8% in 2017 in B.C., primarily due to a lack of supply of higher-priced single family homes in the Lower Mainland and Vancouver areas.

CREA’s Chief Economist, Gregory Klump, likens this forecasted price decline as the equivalent of removing the basketball team from a Grade 8 class. “Throw in the basketball team and the average height shoots up. The same applies to markets with higher-end homes.” He continues by saying that, “The forecasted drop in B.C. home prices largely reflects an anticipated decline in…

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Little help for housing in B.C. budget

Finance Minister Mike de Jong repeated in his Tuesday budget speech a by-now-familiar message from Victoria: It’s through increased housing starts that the affordability crisis that has gripped urban centres around the province will be eased.

And while he had much to say on the file, he offered little by way of new spending announcements to reduce the high costs of housing.

“I’ve cautioned before and I’ll say it again,” de Jong said, “we can’t just focus on getting more people into the market. On its own, without adding to the supply, that’s just going to drive prices higher.”

De Jong’s words appeared to be aimed in part at local governments, which share a role in pushing forward new construction. He said the province intended to “help ensure…

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Things to Consider When Buying an Acreage or Country Property

Want to buy an acreage? Need more information?

Finding the right acreage for you will provide years of enjoyment. Make sure that pretty piece of land will support your vision. Read on or click below to jump to the subjects:

• Financing for acreage
• Consider the services
• Maintenance and insurance
• Covenants and Zoning
• Tips
• Develop it yourself

More and more people are leaving the suburbs to live a country life, but buying an acreage is a little different than buying a house in the burbs. Buyers should investigate a number of things on the property, assuring them that the land they purchase is going to support the lifestyle they have envisioned.

Danielle lives on an acreage in Kamloops BC, give her a call to let her guide you on…

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What Home Sellers Should Know About New Capital Gains Tax Rules

As this year’s tax deadline approaches, recent home sellers should take note of a new rule introduced by Ottawa last year.

Canadians now have to report the sale of their principal residence on their tax return to the Canada Revenue Agency.

The sale is still exempt from the 50% capital gains tax, provided it meets all of the guidelines outlined by the CRA. But while in the past the sale of a principal residence did not need to be flagged, home sellers are now required to provide details of the sale – including the address, the year it was bought and how much it sold for – on their tax return form.

Although the administrative change wasn’t announced until Oct. 3, it applies to all sales that took place in 2016, as well as going forward.

Read…

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B.C. real estate reform: What you need to know

You will have heard about the changes to British Columbia real estate laws

The British Columbia government is in the midst of a wide-ranging overhaul of how the housing market is regulated and taxed, amid growing concerns that foreign ownership, rampant speculation and unscrupulous real estate agents are fueling an affordability crisis.

On Aug. 2 2016, a 15-per-cent tax took effect for home purchases in the Metro Vancouver area involving foreigners. During the past several months, the province has also announced an end to self-regulation, largely in response to a series of Globe and Mail investigations into questionable practices within the industry. This has included a tax on vacant homes in the City of Vancouver.

These are in addition to what…

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To rent or buy? That is the question

Most Canadians dream about buying and owning their first home

A significant rite of passage, buying a home is not only a big financial deal, it's a big life deal.

Most people assume it's better to buy a home than to rent, and to be honest, I have a bias toward home ownership, too. That being said, I have counseled people on the merits of renting. But there are circumstances where renting maybe better for you.

RENT OR OWN

Every new homebuyer should first understand the differences between "renting and saving" and "buying and owning."

For most people, renting is better on cash flow, not just because mortgage payments are often higher (although with the current interest rates that may not be the case) than rent but because of all the other…

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Fast Facts About Kamloops, British Columbia

Considering moving to Kamloops BC?

Or do you live here and want to know more about your town? Checkout some of these Kamloops BC facts.

Population Data

Population - 85,678

Growth Rate - 6.6%

Unemployment Rate - August 2016 - 6.8%

(Source: Venture Kamloops 2015)

Climate Facts

Annual Hours of Sunshine - over 2,000 hours annually

Mean Maximum Temperature: 26.94°C

Mean Minimum Temperature: (-4.2°C)

Growing Season - 166 days

Annual Rainfall - 279 mm

Annual Snowfall - 75.5 cm

Elevation - 347 m (1,140 ft) (Thompson River Intake)

Visit some Kamloops Webcams

Major Employers

Interior Health Authority - 3398 (2014)

Thompson Rivers University - 1149

School District #73 - 1898

Highland Valley Copper Mine…

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CMHC raising mortgage insurance premiums for new buyers

OTTAWA, ON. – The Canada Mortgage and Housing Corporation is raising the cost of mortgage loan insurance for new home buyers effective March 17th. The Crown Corporation estimates the increases will add about $5 to a monthly mortgage payment for its average home buyer.

TO READ THE FULL NEWS RELEASE CLICK HERE

Regulatory requirements that came into effect on Jan. 1 that require mortgage insurers to hold additional capital. The premiums are calculated based on the loan-to-value ratio of the mortgage being insured. The size of the increase in rates depends on that ratio.

For instance, new homeowners who make a down payment between five to 9.99 per cent can expect an increase of $6.59 to their monthly mortgage if their loan is $350,000.

For the…

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