Whenever a property exchanges hands in BC, the provincial government charges Property Transfer Tax (PTT). This tax, paid by the buyer, is often overlooked, and many people forget that they need to pay PTT in addition to a down payment! This tax can also apply when you...
There are many reasons to update the names on your property title. For example, a change in marital status due to divorce, marriage or death requires a title update. In addition, the process of estate planning sometimes involves adding or removing names on a title....
Not sure about buying real estate? With low interest rates and plenty of inventory, this summer could be the right time to buy. At the end of April, the Bank of Canada held its overnight interest rate at 1.75 percent. Because most banks base their mortgage rates (and...
Last week, Hasbro launched Monopoly for Millennials. It’s an updated version of the classic game, complete with a dismissive tagline: “Forget real estate. You can’t afford it anyway.” Despite its patronizing tone, Hasbro isn’t far from the truth. Housing prices are...
The other day, I heard a famous song on the radio. You know the one. It goes like this: “If I had a million dollars, I’d be rich.” I’ve heard this song dozens of times, but that day I found myself thinking about the lyrics, specifically about whether or not a million...
I would like to share a real-life story about clients buying their first home. I have changed their names for confidentiality. David and James were excited about buying their first home. They knew there'd be a lot of paperwork, but weren't sure about some of the...
In a seller’s market, potential buyers outnumber available homes. So, from the moment you stake a For Sale sign in your front lawn, buyers will begin lining up to see your home. When we sold our home last fall, the market definitely favoured sellers. We listed our...
It’s time to purchase your next home. But before you start packing the moving van, you need a strategy for selling your existing home and buying a new one. An important part of this process is deciding whether to • sell your property first and then submit an offer on...
