Property /Land Transfer Tax Revenues There are many current challenges for home buyers in today’s market including high prices, low inventory and rising purchase costs. Toronto and Vancouver stand out as the most unaffordable in Canada. A property transfer tax or land transfer tax is a significant additional cost paid by a buyer every time a home is purchased. The tax is payable to the Province and each Province calculates these fees differently. In 2022/23 the British Columbia Property Transfer Tax (PTT) brought in $2,026 Billion in revenue. The 2023/24 forecast was $1,799 Billion. British C ..read more

What are essential preparations to get the best sale possible? Are renovations necessary? There is a distinct difference between preparing for the sale of your home and renovating to sell your home. Preparing Your Home for Sale I strongly believe you should absolutely prepare and stage your home for sale. A well presented home will often sell quicker and for more money. In some cases, it will sell for thousands more. Real estate sales are about price and condition, or as has been eloquently put, “It’s all a price war and a beauty contest.” This is all about preparing for the beauty contest ..read more

Foreclosures will now get renewed attention as families are pushed to their financial limits and mortgage delinquencies rise. The number of mortgages up for renewal at significantly higher mortgage rates than their previous payments will hit a peak in the next 1 – 2 years. There will be realtors with ‘foreclosure lists’. There will be sharks. There will also be buyers trying to find ‘a great deal’ in the market. The balance of risk/reward is understanding the adjusted price and associated risk for each individual property. Who owns the foreclosed property? When the title to the property ..read more

When I bought my first home I had no idea what I was doing. It was overwhelming and I didn’t know what I didn’t know. I’ve since bought and sold numerous properties in BC and Alberta and later became a realtor myself with a busy decade + of helping folks buy and sell homes in Calgary. Buying a home is often one of those things that is slow and super fast at the same time. It feels like a long time to get to the point that it is possible and then once you start the process it can suddenly feel a bit out of your control. So I thought maybe the info below would help you find your way. First, the ..read more

Save Money on Your Mortgage I originally wrote this article in 2002 before the rates started their upward climb to where they are today hovering just below 7% for a 5 year posted fixed rate.   This series of options to help save money on your mortgage is valuable both to those paying current rates and especially to those that have not yet renewed.  If you recently renewed or opened a newer mortgage at the higher rates, see what options may work for you to save some interest charges. If you are paying a lower rate, see all the options but especially consider the section, “Prepare ..read more

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Introduction Readymade godard brooklyn, kogi shoreditch hashtag hella shaman kitsch man bun pinterest flexitarian. Offal occupy chambray, organic authentic copper mug vice echo park yr poke literally. Ugh coloring book fingerstache schlitz retro cronut man bun copper mug small batch trust fund ethical bicycle rights cred iceland. Celiac schlitz la croix 3 wolf moon butcher. Knausgaard freegan wolf succulents, banh mi venmo hot chicken fashion axe humblebrag DIY.  Waistcoat gluten-free cronut cred quinoa. Poke knausgaard vinyl church-key seitan viral mumblecore deep v synth food truck. Enn ..read more

Introduction Readymade godard brooklyn, kogi shoreditch hashtag hella shaman kitsch man bun pinterest flexitarian. Offal occupy chambray, organic authentic copper mug vice echo park yr poke literally. Ugh coloring book fingerstache schlitz retro cronut man bun copper mug small batch trust fund ethical bicycle rights cred iceland. Celiac schlitz la croix 3 wolf moon butcher. Knausgaard freegan wolf succulents, banh mi venmo hot chicken fashion axe humblebrag DIY.  Waistcoat gluten-free cronut cred quinoa. Poke knausgaard vinyl church-key seitan viral mumblecore deep v synth food truck. Enn ..read more

Chat with your mortgage broker, financial advisor and make the choices that are best for you. Calculations were made using the Mortgage Calculator from The Financial Consumer Agency of Canada. Work with a Lender that Allows Pre-payments   There are a few strategies here on changes to your mortgage payment options and other details. The single biggest strategy is to ensure your mortgage is with a lender that allows you make these changes in the first place and that you understand all the options available to you. Some lenders offer a great rate, but then restrict your ability to modify o ..read more

Throughout our lives most homeowners have lived in several properties. They often start renting, maybe own a condo or townhouse, and then move to a larger family home. A larger home allows some to raise children, enjoy the company of pets, entertain on the backyard deck, watch their children play in the yard and enjoy the dream of home ownership. Once the children move on, it is often in the financial plans to sell the larger family home, extract some equity, and move to something smaller that is easier to manage. This is called the Downsize. The plan is to sell the larger family home for mor ..read more