Friday, 27 December 2013

Why You Should Invest in Vancouver Houses for Sale

If there’s a country that is amicable toward real estate investments, that would be Canada. The monetary and tax incentives that investors can potentially receive are usually enough to encourage foreigners to engage in real estate it this country than anywhere else. It’s not that hard for foreign investors to cash in on Toronto or Vancouver houses for sale because buying a property does not require Canadian citizenship or residency.

The Canada Revenue Agency (CRA) only requires foreign investors to file annual tax returns for properties they rent out. Likewise, the provincial government places a transfer tax on purchased properties, which usually is 1% of the first $100,000, and two percent of the balance. New homes may be eligible for partial Goods and Services Tax rebates. American real estate owners in Canada can also claim foreign tax credits when they sell their Canadian property and pay taxes on gains in Canada.

Other perks and benefits are also available to Canadian real estate investors. Reverse mortgages, for example, are offered to residents who are at least 60 years old. These allow qualified residents to receive regular payments of up to 40% of their properties’ value, tax-free. Another benefit is the home equity line of credit, which allows property owners to get a second mortgage for their property, and pay off their principal at any time without penalties.

Weighing the Benefits of Condominium Life

With real estate prices continually inflating, it’s getting much harder to secure permanent and reasonably-priced living spaces. Figure in the scarcity of space, especially in urban regions, and you have yourself a recipe for a potential displacement disaster. It’s no secret that more and more people need affordable and adequate housing, but where can they find such properties?

Perhaps the most suitable option for those having trouble finding a home would be the condominium. Condominiums are properties divided into numerous units. A unit may be leased to a tenant who pays an agreed upon rental fee. As a condominium building houses several condo units, multiple tenants can live in the same property at affordable prices.

Not only does living in a condominium cost a lot less compared to living in a single family home, it also allows tenants to live right in the middle of the city or in the midst of a developed community. Condominiums are usually conveniently located right next to various facilities, retailers, and services, which can be a big plus for many individuals. As a bonus, tenants don’t have to worry about much of a condo’s maintenance, as general housekeeping and maintenance are often taken care of by condominium owners and property managers.

Thursday, 26 December 2013

Now Would be a Good Time to Search for Ideal Vancouver Houses for Sale

The positive market trend has also encouraged many homeowners to put their properties up for listing, giving buyers a number of options on excellent Vancouver houses for sale. Additionally, monthly mortgage rates remain at affordable levels, encouraging more buyers to enter the market. With all the conditions that come into play when buying a property, buyers are encouraged to do their homework and learn as much about the processes and players involved before buying a property. One of the most important things buyers should do is look for a reliable brokerage company like RE/MAX Crest Realty Westside. Not only can the professionals behind these companies help buyers find the most suitable residential properties for their budgets and preferences; they can also assist their clients with the financing issues involved in buying a new home. For example, if buyers are selling their existing home to finance a new one, professional brokers can help calculate their home’s current net worth.

Monday, 23 December 2013

High Rise, High Life: A Vancouver Condo Offers Comfortable Living

It may not have the privacy and open space single family properties have, yet condos are a highly appealing choice for those who want to settle into a residence that’s conveniently close to both work and play. They are also a smart option for retirees who want a simpler living space to manage. Those who find the Vancouver condo life interesting and are considering it over single-family home living should shop wisely for the right units to purchase. There are numerous advantages to buying condominiums, other than being located right in the middle of the city. Condominiums demand very little maintenance from tenants, saving them from having to perform regular housekeeping and fixing chores. Most condo complexes also have a security detail in charge, safekeeping the properties from criminals. It helps that a select number of condos also offer amenities such as club rooms, fitness gyms, swimming pools, and so on.

Tuesday, 3 December 2013

Feeling Cramped? Time to Look for Bigger Houses for Sale in Vancouver

Of course, many Canadians would probably find living in a mansion a tad excessive (and they’ll realize that property maintenance can be a big challenge). On the other hand, living in a tiny house means giving up creature comforts like a full-sized bed. In any case, most people live comfortably enough in mid-sized houses with one or two bedrooms. Of course, there will always be well-oiled new families scanning the market for bigger houses for sale in Vancouver. Understandably, couples planning to start a family are going to need more space for their new addition. Families planning to have more kids can use a home with more rooms and a bigger backyard. Certain life changes necessitate buying a bigger house. You may have quit your day job to start a home business where the extra room might function as an office or workshop. Some families who have accumulated more than 20% of equity on their current home opt to use this fund as down payment for a bigger property.

Monday, 2 December 2013

Purchase a Condo in Vancouver with the Help of a Trusted Realtor

Robin Wiebe, a senior economist at the conference board, says softer prices in the condo market, where prices have been falling slightly, are making condos "an affordable way for Canadians to achieve homeownership." In Vancouver, Canada’s most expensive housing market, condos are still an affordable option, he said. He calls Vancouver "a buyer's market" in 2013 because of prices moving downward over the past few years, but says sales and prices will pick up in 2014. Increase in population and employment rates Genworth's report also states that in addition to modest yet steady job gains, the older population's growing interest in condos in Vancouver and other Canadian towns and cities is also driving sales. However, the report also predicts that the continuous construction of new condos will slow down as a way for builders to recover from decreasing sales of the existing units. Condos are considered a more affordable housing option for Canadian residents than traditional houses

Friday, 29 November 2013

The Advantages of Owning a House

For many people in their twenties, renting a place is the most ideal housing option. Only a few years out of college and just starting out in their first jobs, twentysomethings find that renting an apartment is a cheap and relatively commitment-free arrangement. However, as they push toward 30, most of them will have moved up rank, have a brilliant career ahead of them, and find themselves thinking about getting married and starting a family. Before long, the prospect of buying their own house becomes a reality.

Of course, they might have qualms when looking at houses for sale. Whenever the plumbing breaks down or the heater stops working, it’s the landlord’s duty to have them repaired. Buying a house, however, means that all maintenance will be shouldered by the owner.

Still, there are distinct advantages of owning a home. For starters, you’re free to do improvements on your property without having to ask permission from your landlord. If you’ve always wanted to have a garden, you can have one as well. Rents also typically rise over time, meaning an apartment might not be as affordable as it once was. In contrast, a home bought with a fixed-rate mortgage will have the same payments scheme for the next two or three decades. Lastly, homes are long-term investments which generally increase in value over the years, something that can boost your credit ratings as well.

Buying a Condo: What You Need to Know

Condos are popular form of housing among people who live in urban areas. Experts in real estate consider condos to be an affordable and convenient way for residents to achieve homeownership particularly in urban cities or towns, and areas near business districts.

Buying a condo, however, can prove to be quite a tricky business because there are a lot of factors to consider. You need to have a firm grasp of the condo buying/selling market, trends in real estate, and the terms of sales and ownership. Furthermore, when buying a condo unit, you should also look at other factors such as the location, the community, the people living in the building, and the building’s rules.

Buying a condo is similar to agreeing to a business partnership which requires not only a careful assessment of factors such as location and its dwellers, but also of the management itself. Ask about any legal issues, delinquency rates, and the community rules that you would have to live by. A condo in a stable, well-managed community is the most ideal investment.

In terms of cost, you shouldn't immediately choose the least expensive condo unit. You should look at the monthly condo fees, the reserve fund for repairs and maintenance, special assessments for additional payments, and the building's insurance policies. Your neighbors are a factor, too; the kind of families that live there and the kind of lifestyles they lead can give you an ample insight on what living in that community would be like.

Wednesday, 6 November 2013

Why You Should Rejoice over the Return of the affordable Vancouver Condo

"Favorable market conditions also allow first-time home buyers to look more closely at the benefits of owning a home over renting one. Many potential home buyers hedge from purchasing a house, believing that renting is the more economical option. Rising rental costs and the current positive condition of the market should serve to motivate them to shift from renter to homeowner. Meanwhile, those who are not financially ready to own and maintain a single detached house can check excellent Vancouver condos for sale like the ones offered by trusted real estate brokers such as RE/MAX Crest Realty Westside. "

Tuesday, 5 November 2013

Investing in Prime Vancouver Houses for Sale Can Yield Good Returns

"Senior real estate analyst Don Campbell, interviewed for the report, says buying a house—whether as a primary or secondary residence—is like investing in a “blue chip stock”; the investment will perform well over a long period of time. Hence, it is important to find a property with good value and potential for growth. Those who are looking to invest in profitable houses for sale in Vancouver will do well to be guided by established real estate brokers like RE/MAX Crest Realty Westside, who have a long track record of solid and profitable deals."

Thursday, 24 October 2013

Vancouver: World's 3rd Most Livable City

One very good reason to invest in real estate in Vancouver is that the city has been named the 3rd most livable city in the world by the business publication Economist Intelligence Unit. This is the third year in a row that Vancouver has received such a distinction, which is actually a downgrade as the city ranked 1st from 2002 to 2011. The ranking, however, solidly marks the many benefits the city has to offer to its residents.

Vancouver received an overall rating of 97.3 out of a perfect 100. It also scored perfect marks for education, culture, the environment, and health care. The survey also cites the current construction of Metro Vancouver's Evergreen Line project, which is expected to benefit residents in the future despite the various disruptions it poses at present.

According to standards set by The Economist, a score of 80 to 100 means that there are very few challenges against residents' living standards in the city. Indeed, in addition to the commendable housing, education, and health care benefits that Vancouver residents receive, the city government has also committed itself to keeping Vancouver green. There are currently a number of government-sponsored projects intended to preserve the area's lush natural resources, and keeping the environment free of pollutants that can be harmful to the health and well-being of both the city itself, and its residents.

Thursday, 10 October 2013

Of People and Condominiums

One of the major reasons why one opts to purchase a condo unit is the fact that it is (almost always) in the city. Living in a condominium in Vancouver, for example, makes it easier for people to access areas of the city like the Financial District and the nocturnal Downtown that would be difficult if one is living in the suburbs. 

There is, however, one factor that makes or breaks living in a condominium, despite its perfect location and amenities: the people that live in it.

When one purchases a ready-for-occupancy condominium, chances are that there is an established condominium association already running and implementing certain policies. These policies range from parking and maintenance fees to etiquette inside the building. Some condo associations, however, might have rules that are too tight for your liking.

You have to consider, as well, the cultural diversity of the people already residing in the condominium. A metropolis like Vancouver often lets you experience living next door to another person whose culture is entirely different from yours. If you’re still looking for a condo to stay in, choose one where you are most likely to get along with your next-door neighbors.

If you want to choose wisely, calling on a realtor who knows the Vancouver condo market very well is a good place to start.

Tuesday, 24 September 2013

Things to Keep in Mind When Buying a House

Condos are great for when you're single. However, when you get married and start a family, your once spacious single bedroom condo may not be large enough to accommodate the jump in the number of residents. As such, most people begin to look into purchasing a house off the real estate market.

Before looking at houses, it would be a good idea to get an updated copy of your credit report. A good credit standing can help attract sellers and real estate agents. This also makes applying for mortgage loans a faster process, and allows you to correct any mistakes.

As always, location is important when it comes to real estate. Try to choose a house in a convenient location for you; know how far it is from your office, your child's school, etc. Homes that are too far may require you to spend more for transportation which will only inconvenience you.

Also, it's advisable to be present as the house inspector goes from room to room in order to get a clear understanding of any problems present in a house. This will give you a better sense of any repairs or changes that may need to be made if you decide to purchase a house. The results of a house inspection can also be used as a bargaining tool. If the owner or agent does not allow you to hire a house inspector to assess the house, cross it off your list and move on.

Thursday, 12 September 2013

A Look at the Advantages to Living in a Condo

Multiple surveys by different bodies, such as Mercer and the Economist Intelligence Unit, all place the Canadian city of Vancouver as one of the top ten most liveable cities in the world. This has been an honor Vancouver has constantly been receiving over the years.

Due to majestic scenery, a vibrant nightlife, and a reputation as one of Canada's largest industrial centers, Vancouver attracts tourists from all over. Some visitors are so enamored with the city that they decide to move in. With a population of 603,500 in 2011 (and still growing), people migrating to Vancouver have been benefiting from the condominium market.

There are a number of advantages to living in a condominium, especially for single people. In general, condominiums are located in important business hubs; as such, employees can live right around the corner from their office. This can save a person a lot of money that would have been spent on fares. Also, condos are typically located near shopping and entertainment centers. As they say in real estate, “location, location, location”.

Condos are considerably safe due to a 24-hour concierge and security staff. Many high class condominiums offer key card elevators that only provide access to public floors and the floor a person's unit is located.

The responsibility for maintenance is generally limited to a person's unit. Outer maintenance such as lawn mowing or shoveling snow is usually the role of a condo's maintenance staff. As such, people that dislike such work find condominium life pleasant.