When you are ready to move from Toronto To Kelowna BC

February 22, 2018February 22, 2018by Richard Lathamin No Comment

The sober decision: how to know you are ready to own a home in Kelowna

The hunt for Kelowna homes is intense. The bidding wars will leave you penniless if you are not careful. The prices will turn your away if you are not the bold type. That is how a famous real estate magazine described the market a year ago.

But before you fall in love with that dream BC home, there is a fine print you should walk through. For your heads up, some will be pleasant and the other will leave a bad taste in your mouth.

You have to carefully assemble your team

Buying a home is always a big financial decision. Handle it well and your money will be in the right place. Make a mistake and you will live to regret it for the rest of your life. To get it right with buying a home in Kelowna, you need a carefully selected team of experts. They include:

  • Real estate lawyer: there is so much paperwork in buying a home that you cannot keep a trail of everything. An experienced real estate lawyer would make the process easy and simple. He or she will do the legal heavy lifting on your behalf.
  • Mortgage broker: for a first time homebuyer you would be comfortable applying for a mortgage at your bank. As it turns out, this is not one of the best financial decisions. A mortgage brokers would know several lenders who would give you a favorable deal. It is not all about getting a low-rate mortgage but rather taking care of every financial aspect in buying a home.
  • Home inspector: a home has so many moving parts. There is the curb, plumbing, heating systems, roofing, flooring and what a few. With no prior experience of inspecting a home, you will be lost in all these. An experienced home inspector is a must-have member in your team of home buying experts.
  • A realtor: love or hate them,realtors will make your home buying process piece-of-cake easy. And just you know, in Kelowna property market is not all about getting low prices. There is a long way to buying a home and the price is just one of them.

Provincial property tax transfer (PPT)

This is a big one and can make your experience a sour one. Just when you thought your deal is falling through, PPT has a tendency of sneaking and ruining everything for you. PPT applies to almost every property transaction in BC with an exception of a few. Get acquainted with the applicable PPT before you get jubilant on the prospects of a new home.

Take note of BC home ownership

For first time homebuyers, you may want to understand what this is all about. The BC provincial administration recently launched a $700,000,000 fund to help first time homebuyers to pay their down payment of not more than $37,500. But there is a catch. You must have saved an amount equal to your down payment to qualify for this fund. Well, this might not be ideal for you but you should have a look into it.

 

How To Gain Profit By Investing In Real Estates

May 12, 2017October 31, 2017by Richard Lathamin No Comment

Actually, the world is extremely competitive and you cannot come to a good position without hard work. When the world becomes competitive the advertisements can be scams and it’s obvious that you might come across false advertisements saying that becoming billionaires within a month by investing in real estate is easy But, if you are intelligent and wise enough to differentiate the legit and scam advertisements you will be able to make money by investing in real estate. You need to read the following article to understand the ways the income is gained by investing in the real estate. And, luckily this can be used for any period of time.

What Do You Have To Do When The Value Appreciates?

When the value of the property increases you can gain profits in two ways and they are such as by selling or you can refinance. If you want to refinance you need to check for the refinance rate at the moment and then decide on it. Moreover, when you are making decisions in the financial market you need to be up-to-date with the market information. So, here are the two main factors which affect the appreciation value;

  • The residential property
  • The commercial property

The residential Property- the value appreciation will mainly be focused on the residential property because when the things around the home become valuable the value of the home parachutes higher such as by schools, playgrounds, complexes, transit routes and etc. but sometimes the odds may turn against you i.e. when the value of the neighborhood decreases it can be a negative factor for you.

Note- even the home improvements can increase the value of the property so it’s in the hands of the user. He or she has to make sure that the property is remodeled in better ways so that the value can be increased.

The commercial property- it also includes the same points as we mentioned above so mainly the location and the development of the property are essential to increase the value of it.

The Tips To Succeed In Real Estate

As we said above, the world is competitive so you need to do your duty i.e. working hard, so when we say working hard it means sharpening your knowledge by using the tips we provide.

Understand the basics– you need to understand the basics of the real estate market if you do so you will be able to grasp the information easily and quickly. Once you are capable of grasping the information you need to set plans for the next step and take tiny steps towards your goal. When you are setting the goals make it realistic so then you will be able to gain profits easily.

Cut the unnecessary costs- make sure to analyze your costs and the reasons for it then cut the unnecessary cost if you do so you will be able to maximize your profits. It’s obvious that unnecessary costs will cripple your profits.