I have sold a property at 1577 LODGEPOLE PL in Coquitlam.
Beautiful 5 bedroom 4 bathroom home on Westwood Plateau! Bright spacious layout features large multi-purpose study, bright office and kitchen with gas range and solid oak cabinetry on main floor. Upstairs boasts 4 bedrooms with views of Mt Baker and the valley, including master bedroom with huge 4-piece ensuite and walk-in closet. Basement features media room, studio, gym, bedroom, full bathroom and lots of storage that is suite-able. Gazebo, shed and swing set have been recently painted. Gazebo has gas and electric hookup ready for all your summer entertaining!
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I have sold a property at 1568 CHADWICK AVE in Port Coquitlam.
Fantastic 4 bedroom 2 bathroom house on quiet street in Port Coquitlam! On the main floor are 3 bedrooms and 4-piece bathroom. Bright, open kitchen includes centre island, newer appliances and engineered hardwood flooring. Newer washer and dryer tucked away in laundry room off kitchen. Downstairs is 1 bed 1 bath walk-out basement with its own separate entrances. Gas fireplaces in main living room and downstairs rec room. French doors open into beautiful backyard. Entertain friends and family in the well-maintained, south-facing backyard complete with covered HOT TUB, spacious covered deck, new separate patio, TWO storage sheds including 20'x20' shed and nice garden. Garage has extension for extra storage. Within walking distance to all levels of schools, shopping and Hyde Creek Recreation.
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Province Approves 4% Allowable Rent Increase for 2018

Housing is about to get more expensive for renters in BC. This week the BC Government set the legally allowed rent increase at 4% for the upcoming year. Landlords will be able to increase monthly rents by up to 4% in 2018.

For the record, Landlords can only increase the rent once in a 12 month period and must give the tenant’s three full month’s notice. You can calculate your rent increase here.

Annual rent increases are determined by a formula set by provincial regulation and is tied to the annual rate of inflation (inflation rate + 2%). This is the largest rent increase for British Columbian’s since 2012, and the second largest increase over the past decade. 

BC rent increasesBC historical rent increases.

According to Padmapper, Vancouver rents are still the highest in Canada. As per their July 2017 data, the median rent price for a one bedroom is $1990/ month. While the typical two bedroom rents for $3200/ month.

One bedroom rents are now up a staggering 14% year over year, while two bedroom rents are up just 3%.

The rent increases are sure to exacerbate the current housing crisis, but will ultimately help landlords shoulder the burden of historically low cap rates of around 2-3%. Either way, Vancouver Price to Rent Ratios are still higher than San Francisco if that’s any consolation for renters.

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I have sold a property at 504 110 BREW ST in Port Moody.
Elegance at its finest! Bright and spacious 2 bedroom/2 bathroom luxury apartment is now available in the ARIA 1 building in Suter Brook Village! This high-end apartment with over 1,000 sq ft of living space, has floor to ceiling windows throughout this open concept plan. Step out onto your covered private patio and take in the breathtaking westerly mountain views. With updates such as; new flooring and Swarovski crystal chandelier, this apartment speaks for itself. All the shops, restaurants and entertainment are just a few steps from your front door. Amenities include; swimming pool, spa, steam room, sauna, gym, rec room, party room and BONUS - skytrain is less than a 5 minute walk! Come to view it today! Open Houses Cancelled.
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I have listed a new property at 1031 PALMDALE ST in Coquitlam.
Another fabulous home by MEK Developments. This stunning 4,200 sq ft 6 bdrm 5 bath home has wall of windows w/ fabulous Mtn Views, Triple Car garage + legal walk-out 2 bdrm bsmt suite. Main offers level entry to Great Rm plan w/ 10' ceilings, S/S appliances, Stone Counters ,Huge W/I Pantry, Wood floors, Built In Ent Centre plus Den. 350 sq ft covered deck on main. 4 bdrms up, Mstr boasting W/I Closet & Ensuite. 2nd Bdrm W/I Closet + Ensuite, Bdrms 3 & 4 have Jack & Jill Ensuite. Down find lg Rec Room + 2 bdrm Suite w/ 9' Ceil & 350 sq ft covered patio & Private access & parking for suite from back alley. 8,052 sq ft fully fenced & landscaped yard, Easy commute, close to skytrain & all levels of schools.
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I have sold a property at 111A HEMLOCK DR in Anmore.
Beautiful home on 0.5 acre lot in Anmore. Enjoy the view of the mountains. Plenty of parking on property. This property was purchased from original builder and well maintained over the years. Covered patio area with overhead lamps and hot tub for sitting outside all year round. Kitchen features oak cabinets and large island. Large, formal dining room off of kitchen and family room on main level. Family room and master bedroom boasts vaulted ceiling and bay windows. 3 bedrooms upstairs and 1 bedroom downstairs with great room and wet bar. Open Sunday June 4th - 3 to 5pm.
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Tips for staying cool in Port Moody as temperatures rise
 

spray park 

Looking for ways to stay cool in Port Moody this week? Temperatures are expected to rise above 30 degrees Celsius over the next few days. Here are some ideas to help you beat the heat:

  • take a dip in one of Port Moody’s outdoor pools or spray parks – little ones can enjoy free admission to Rocky Point’s wading pool;
  • crack open a book at the Port Moody Public Library – the cozy reading room (conveniently air-conditioned) is perfect for diving into a bestseller, browsing the newspaper or flipping through a fashion magazine;
  • hit quieter parks, like Westhill, Pioneer, and Flavelle, which have lots of tree cover; jump into the water at Old Orchard Beach, or jog in the shade at Bert Flinn Park;
  • stay cool while you exercise in the fitness and weight room or walk the indoor track at the Recreation Complex; and
  • check out drop-in activities for seniors (at the Recreation Complex or Kyle Centre), or youth (at the Recreation Complex or Westhill Youth Centre).

Heat exhaustion or heat stroke can happen to anyone (regardless of age or fitness level) who stays in the summer heat and sun for too long. Follow these tips to prevent heat-related illness:

  • drink plenty of cool fluids — this is the most important step you can take;
  • avoid being outside during the hottest part of the day;
  • seek out air-conditioned spaces whenever possible;
  • know the humidex rating — it combines the temperature and humidity to indicate how hot, humid weather feels to the average person;
  • wear a hat and light, loose clothing so that air can circulate;
  • apply sunscreen if you are heading outdoors, as sunburned skin reduces the body’s ability to cool itself;
  • slow down your activities as it gets hotter; and
  • if you do need to be outside when it’s hot, take a lot of breaks in a cool or shady area to let your body cool off.
  • Please don't leave children or pets in hot vehicles, no matter how short the stop.

Residents and visitors are reminded that dry, hot weather increases the risk of wildfires. Port Moody Fire Rescue maintains a four-step fire hazard rating, with signage displayed at the northwest corner of Ioco Road and Murray Street. The current fire hazard rating is high. 

Everyone can help to prevent wildfires. Please remember:

  • smoking is prohibited in Port Moody parks; and
  • open fires are banned within the municipal boundaries of the City of Port Moody. 
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Choosing a fireplace is a personal decision. You have to decide which is best for you and your surroundings, and there are a lot of things to consider when making this choice. How much can you budget? What are the amenities you are looking for? Are you into "green" heating? Do you want an efficient fireplace to cut down your heat bill or do you want one just because you want one? Getting the answers to these questions will better prepare you for when it comes time to make your investment.

Electric Fireplaces

Electric fireplaces have really made a niche for themselves in the last several years. You see them on the shelves in many big box stores, and they are a “hot” commodity (pun intended).

Electric units have a lot going for them. They are energy efficient and do not release any pollution into the air. Some models work like a space heater but are much safer and have a nice, lifelike flame. They are safe for kids and pets; they are cool to the touch because the heating element is tucked inside the unit, while a blower forces the warmed air out into the room.

They have other amenities as well. For example, you can run the flame without the heat and vice versa. Some units have timers that can turn themselves on and off once the timer is set. Most electric units come with a remote control as well, and best of all, you can put them in any room in the house because they do not require a chimney. The only maintenance for an electric fireplace is an occasional vent dusting.

 

Gas Fireplaces

Gas fireplaces will provide a little more ambiance than an electric unit. The fire is real and works like a gas oven, with the burner hidden by ceramic logs that spread the fire and make it look like a real wood fire.

Gas fireplaces burn either natural or propane gas. They burn pretty clean but do produce some carbon monoxide, so they need a chimney. This is where the cost can increase. You must check the codes in your specific area but most chimneys will require professional installation. Once it is installed, there is of course no moving it to another room, so you must make sure the location is perfect.

Because there is a real flame, gas fireplaces do get very hot and can burn you or anything near the hearth. Even if there is a glass front on the unit, the glass will get very hot. Gas units also come with a blower and can push warm air into the room, but keep in mind that there is a chimney, so you will lose some heat to the outdoors. Some models can also come with a remote control.

 

Wood Fireplaces

Unless you are building a new home, adding a real wood fireplace is very costly. Like with a gas fireplace, a chimney must be built in addition to the fireplace itself. Even though the smell and sound of a real wood fire is tempting, investigate thoroughly before diving in and dropping cash.

Real wood fireplaces can let a substantial amount of the heat escape through the chimney and also suck out about 10% of the indoor air. There are fortunately ways to make a wood fireplace more efficient. You can have it insulated and add a fan heat exchanger and glass doors, but these add-ons will cost more. Then, besides the building and efficiency costs, there is an ongoing cost of purchasing wood to consider. A real wood fireplace is a significant investment in the long term.

There is also maintenance to take into account. Each time you want to start the fire, there is no simple switch like other models of fireplace. You will have to build the fire and be responsible for seeing it properly and safely put out. The ashes have to be cleaned out often, and wood fireplaces also require a thorough cleaning once a year (at least). A wood fireplace puts more pollution into the air than any other type of fireplace as well, but it offers the most ambiance with real smells and crackling sounds.

 

A fireplace is where everyone likes to congregate for warmth and family meetings. They are a place to feel safe and

secure, to entertain, and to warm the home. A fireplace will improve the value of your home, so consider what is most

important to you when deciding which is right for you and your family.

 
 
 
 
 

Troubleshooting Basic Problems of Gas Fireplaces

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Gas fireplace repair can be daunting, depending on the problem that arises. One of the things that makes fixing a gas fireplace issue so difficult and complex is finding its source. There could be multiple factors causing a single issue, so covering all your bases and eliminating potential culprits can be time consuming and may require a level of expertise you may not have.

However, there are some basic issues that you can repair on your own without too much trouble. At the very least, this guide will help give you a better understanding of each problem so you can identify them more easily.

DISCLAIMER:

Working with gas and gas appliances is dangerous. If at any point, before, during or after your investigation or repairs, the area smells excessively of gas and you can not determine the cause, call an expert for help immediately.

Pilot Light

The pilot light for you gas fireplace, as it is for many gas appliances, is an ignition source. If your fireplace won't turn on, it may be a simple matter of the pilot flame having been blown out. In order to find out, simply open the vent and you will be able to determine whether or not the small flame is out. If it is, simply re-light the pilot with a match or a lighter and test to see if the fireplace turns back on.

Alternatively, if the flame reignites initially but the pilot won't stay on, there are more in depth factors to investigate surrounding the pilot light.

The Thermocouple

The thermocouple is a small metal rod that intersects the gas valve and the burning pilot flame. It acts as a temperature sensor and generates electricity to ignite the gas when needed.

Because it's so small and must interact with multiple other components, the condition, placement, and stability of the thermocouple can all impact your fireplace for the better or for the worse.

Thermocouple issues are usually simple fixes that boil down to them not being screwed in securely or just needing to be repoisitioned. While you are in position examining this piece, ensure that all of the wiring and tubing are correctly placed and functional.

The Thermopile

Similar to the thermocouple, a thermopile is a sensor that generates voltage. In newer model gas appliances, or anything else that has electronic gas control, thermopiles are used in place of thermocouples. Due to their place in electronically controlled gas fireplaces and the fact that this mechanism generates power measured in millivolts, they are also known as gas fireplace generators and millivolt generators.

Testing or replacing one of these should only be done after you've ruled out the other obvious culprits since it's a fairly complicated process.

Using it's generator function to check how much energy it's providing is a good way to figure out if your current wiring is adequate. Loose or inadequate wiring can be the root cause behind noticeable problems like a burner that is sluggish or won't come on at all.

Conclusion

While these three components of your gas fireplace system are commonly behind some of the larger performance problems your fireplace may experience, other issues such as needing a gas valve replacement, a gas leak, or some complex combination of all of the issues already listed require the intervention of a professional to get true answers.

Looking for a new fireplace, fireplace fender, accessories or more? Compare types, brands and prices with our Fireplaces Buyer's Guide.

 
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I have sold a property at 30 ASHWOOD DR in Port Moody.
Gorgeous West Coast craftsmen style home backing on greenbelt in desirable Heritage Woods. This immaculate home is loaded with many extras such as exotic cherry wood flooring, upgraded granite counters with under mounted sink, glass/stone mosaic backsplash, iron stair rail and more. Great room has vaulted ceiling and lots of windows looking out to the picturesque greenspace. Upstairs you will find 3 bedrooms; huge master boasts vaulted ceiling and amazing ensuite. Basement has been professionally finished and offers a 4th bedroom, complete with ensuite, large rec/games room, wine room and storage room.
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I have sold a property at 1 ALDER WAY in Anmore.
PEACEFUL ANMORE LOCATION! Situated on beautifully landscaped flat corner lot with mountain views, this home is definitely a must see. Main level features gorgeous Oak hardwood floors, 2 fireplaces, living & dining rooms and a den. Gourmet kitchen offers all the extras: black granite countertops, walnut maple cabinets, slate tile flooring & backsplash. Stainless Steel appliances. Huge master bedroom also features a large walk-in closet & luxurious 5 pce ensuite with double sinks and a top-of-the-line jetted soaker tub! Includes new hot water tank in 2015 and electric gate opener. Walk-out basement includes a 4th bedroom.
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He's been pulling 100-hour weeks for the past four months and, now, Byron Vallis is finally ready to pull the tap handles at Coquitlam's first craft brewery.

A partner in Mariner Brewing with Wim Vander Zalm — Vallis' former employer at Art Knapp Plantland in Port Coquitlam — he's preparing for its grand opening on Aug. 22.

Five frosty possibilities will be on tap: a northeast India pale ale, a dry-hopped cream ale, a sour weisse, an amber ale and a Scottish ale. 

"It's a really diverse lineup for opening day," the Dr. Charles Best secondary school grad said, "and we have so many more ideas. We already have the ingredients for a white IPA." 

 

The beer ingredients are also west-coast sourced, Vallis said, with most of the hops supply imported from Oregon.

There's some local support, too — from his competition at the four breweries on Port Moody's popular Brewers Row. Vallis said their owners have been "really supportive. It's a surprise. But when new places open, everyone's on board because it's yet another craft beer for B.C."

Ahead of the opening, Mariner will be represented at Coquitlam's Kaleidoscope Festival on Saturday as well as the Aug. 19 Battle of the Brews, a fundraiser for the Surrey Fire Fighters Charitable Society.

In the meantime, Vallis and staff are preparing their 3,000-sq. ft. premises — including a 45-seat tap room — at H-1100 Lansdowne Dr. (across Barnet Highway from Milestones). "We've just been going non-stop to get everything in order."

A small patio at the front will open soon and, perhaps next season, a 30-seat patio out back, facing south toward the Evergreen Extension.

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I have sold a property at 1478 SALTER ST in New Westminster.
Well-maintained, 3 bedroom, 3 bathroom house on corner lot in super family-friendly Queensborough neighbourhood! Enjoy lazy, summer evenings from the comfort of the open, spacious living room with cozy, gas fireplace. Walk through French doors onto your wrap-around porch and take in views of the mountain and neighbourhood. Kitchen features island and stainless steel appliances. Patio door off of kitchen and family room lead to extended patio deck and fenced yard. Upstairs boasts 3 bedrooms and open den area, perfect for an office. Master bedroom features new flooring and newly renovated ensuite with his-and-her sinks. Crawl space in basement, lots of storage. Close to river trail, parks & playgrounds, marina and shopping.
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I have listed a new property at 1577 LODGEPOLE PL in Coquitlam.
Beautiful 5 bedroom 4 bathroom home on Westwood Plateau! Bright spacious layout features large multi-purpose study, bright office and kitchen with gas range and solid oak cabinetry on main floor. Upstairs boasts 4 bedrooms with views of Mt Baker and the valley, including master bedroom with huge 4-piece ensuite and walk-in closet. Basement features media room, studio, gym, bedroom, full bathroom and lots of storage that is suite-able. Gazebo, shed and swing set have been recently painted. Gazebo has gas and electric hookup ready for all your summer entertaining!
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Have you recently tiled a bathroom floor? Or your shower pan? Or your whole shower? If so, you probably have a few – or a lot of – leftover tiles. These 13 DIY projects will put them to very, very good use. And if you haven't recently tackled an ambitious tiling project, don't worry: pick out your favorite DIY to try and head to your favorite home improvement store to buy the appropriate number of single tiles.

 
Wall-Mounted Shelving Systems You Can DIY
 
Before & After: An Old Sewing Table Gets a New Purpose
DIY
DIY Ideas: 13 Ways To Use Leftover Tiles
DIY
The Easiest Two-Hour Decor Masterpiece (You Can Do It Too!)
 

Gorgeous leftover Carrera marble tiles deserve a chance to shine on their own; backing each one with cut-to-size cork to create coasters lets them do just that. The juxtaposition of marble and cork is surprisingly appealing.

 

If you have a handful of little hexagon tiles leftover, this project is perfect for you, especially since you can easily adjust the dimensions based on how many tiles you have.

 

If your tile project left you with an entire box of unneeded tile, don't regret overbuying! It just means you have the opportunity to make a gorgeous table like this one.

 

Coordinate your fridge with your back-splash or floor by using leftover tiles to make sweet little magnets. This is a great way to showcase precious marble tiles, but it could do just as well with less prestigious tiles.

 

This is another great project if you just have a few tiles leftover, and it works no matter how many tiles you've got. Paint the board the same color as your tiles for a sleekly monochromatic look, add hooks, and hang away.

 

If your project leaves you with a sheet of tiles, roll it around a vase (a cheap number from the dollar store is perfect), fill in the spaces with grout, and voilà! Also, as this tutorial points out, this is a great, low-stakes way to get the hang of tiling without tackling a floor or wall.


This project makes it clear that you'll want to add glitter to the grout in all of these DIYs. Glitter grout! Spice up your favorite cheapo IKEA table with three (or more) different types of leftover tile and the sparkliest grout in the land. It's surprisingly subtle, but with no lack in attention to detail.
 

Use the leftover tiles from all of your tiling projects to create this graceful window frame—a great way to add character to a bare bones rental. And if you're not feeling super ambitious (or if you don't happen to own a jigsaw), simply use the tiling method described to mosaic an existing picture, mirror, or window frame.

 

This tutorial is proudly saw-free, meaning you won't have to rent (and use) a tile saw if you can arrange your tiles correctly. And while the instructions will teach you how to tile all sides of a kitchen island or peninsula, you can simply tile the top.

 
If you have some leftover glass and/or mirrored tiles, give them some copper tape borders and solder them together to create
candle holders in a variety of shapes and sizes. Bonus: These make great gifts, especially if you pop a little votive in them.
 

If your leftover tiles happen to be boring but you don't want them to go to waste, adorn them with photo, or even patterned scrapbook papers using Mod Podge. And if your leftover tiles happen to be actively ugly, cover them completely with photos printed the exact size of the tiles (or slightly larger, to cover the sides as well).

 

You could also spruce up plain tiles with Sharpie paint markers and use them to build a charming planter. If your drawing skills are excellent, show off by creating designs inspired by intricate Moroccan or Mexican tiles.


 
 
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B.C. government to review real estate measures-Image1

Local NDP candidate Selina Robinson speaks to a reporter after a campaign stop by Leader John Horgan in Coquitlam, B.C., on Sunday May 7, 2017. Robinson, British Columbia's new housing minister, says she is reviewing the tax on foreign buyers of Vancouver real estate and the province's interest-free loan program to first-time homebuyers.THE CANADIAN PRESS/Darryl Dyck - The Canadian Press, 2017 

VANCOUVER — The British Columbia government is reviewing the foreign buyers' tax in the Vancouver area and the interest-free loan program to first-time homebuyers to determine whether they have helped improve affordability, the province's new housing minister says.

In an interview Monday, Selina Robinson said she and provincial Finance Minister Carole James will go over real estate transaction data in an effort to decide whether such measures should be kept, revised or scrapped altogether.

"I don't know that we have any plans to eliminate it," Robinson said of the 15 per cent foreign buyers' levy, nearly a year after the previous Liberal government introduced it for Metro Vancouver.

 

"There's certainly enough data that would help us to understand its value, and so, we have to look at that data."

Robinson said she understands the tax had some impact early on, but that is starting to slip away.

From June 10 until Aug. 1, 2016 — one day before the tax took effect — 13.2 per cent of all property transfer transactions in Metro Vancouver involved foreign buyers, according to data from the B.C. Finance Ministry. From Aug. 2, 2016, until the end of last year, that figure fell to 2.6 per cent.

In the months after the tax, there were signs of cooling in Vancouver's housing market, with the number of transactions falling. However, there have been signs that the market may be rebounding, as prices continue to creep up.

The Multiple Listing Service composite benchmark price for all properties in Metro Vancouver was $998,700 in June, an increase of 7.9 per cent from the same month last year, according to the Greater Vancouver Real Estate Board.

Tsur Somerville, the director of the University of British Columbia Centre for Urban Economics and Real Estate, said the tax may have dampened foreign interest in a city where housing prices are among the most expensive in North America.

But another possibility is that some foreign buyers are not self-identifying as such or have shifted to purchasing properties, such as presale condominiums, that aren't covered by the tax, he said.

 

The foreign buyers' tax was a contentious move that angered some groups and prompted a class-action lawsuit that is now awaiting a certification hearing in early November.

The claim's lead plaintiff is Jing Li, a Chinese citizen residing in Burnaby, B.C. Li found the $559,000 property she purchased in July would suddenly be subject to an additional $83,850 in taxes because the deal was to close after Aug. 2.

The proposed lawsuit alleges the tax is unconstitutional. But in the province's statement of defence filed in May, the government denies the tax is unconstitutional or violates the Canadian Charter of Rights and Freedom. The allegations have not been tested in court.

Robinson was unable to comment on whether her party would fight the action in court.

Before they won the May election, the NDP promised to bring in an annual two per cent tax on vacant properties, but Robinson said that too is under review.

Andrey Pavlov, a professor who specializes in real estate finance at Simon Fraser University in Burnaby, B.C., said he hopes the government implements policies that would ease development restrictions to increase housing supply.

"Unless we can increase supply, we can tax people at any rate we want," Pavlov said.

"It's not going to make any difference because we just don't have enough units."

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I have listed a new property at 1 RAVINE DR in Port Moody.
Bright and spacious, 3 bedrooms 2 bathroom rancher on prestigious Heritage Mountain! Spacious and fenced, PRIVATE backyard with covered patio. Features double garage with high ceiling and additional RV parking. Bright skylight in foyer and vaulted ceilings and large windows in living room. Kitchen features oak cabinets. Family room boasts gas fireplace surrounded by brick. 3 bedrooms, including large master bedroom with ensuite. 4 ft crawl space provides extra storage. Close to schools, recreation and public transit.
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Wondering if the time has come to move on? Here’s how you know


1. That bedroom is now a junk room

We all need room to store our sports equipment, off-seasons clothes or paper records of important information, and that room is called “storage”. It started as a quick fix, like “let me put the bike here for a sec,” and now it’s been sitting there for over a year. In some cases, a large cardboard box or even another bike made its way in. Keeping storage contained and organized is not an easy task, but is necessary.

 

2. When the grass is knee high and the gutters are collapsing

During the summer months, grass and plants grow very fast and it’s hard to keep up. The garden beds could get a little TLC by weeding and swapping out plants with new ones. While you're outside, look at the trim of the house. Is the paint chipped? When was the last time the gutters were cleaned up? At this point, your property starts to lose value. Maintaining and improving a property is a challenging task requiring funds, time, energy and creativity. It could be that this property is more house than you can handle. Have you ever wondered how a property becomes a teardown?

3. More for-sale signs than you would believe

Who are those new neighbours? They moved in a while back, but are strangers to you and the reverse is probably true. Breaking the ice with newcomers is just an acknowledgment as you cross paths on the sidewalk. It can be intimidating, but it’s not so hard. In the event you are not having the response expected, how does it make you feel? It’s a good idea to keep the pulse on the sale price of properties in the area in case it’s time for a change.

4. Local redevelopment applications are flourishing

“I remember when it was all fields!”Maybe not that extreme, but the landscape is changing and in Vancouver “densification”seems to be the answer to our housing crisis. New multi-family construction in your direct surroundings could impact:

●traffic, including parking;

●potentially your view;

●noise generation; and

●the amount of dust in the air.

If all that doesn’t appeal, maybe you can cash in on the activity and get out of the neighbourhood.

5. Your tenants are degrading the property

For those who rent out their home, consider selling if the security deposit won’t be enough to restore the property to its original state, and it won’t get any better. To actually make the property attractive to new tenants will cost you a fair amount of money. Does it make sense to make improvements that potential buyers probably won’t appreciate?

6 . You spend too long on your daily commute

Studies have concluded that a long commute slowly kills you. I find this conclusion a bit harsh, but the time, money and energy spent on the road can add up very quickly. Life happens and if you are driving simply everywhere, maybe it’s time to re-centre around at least one main activity, such as work, school, family or leisure activity.

7. Guests are not coming around anymore

It’s been awhile since your cousins or kids visited, and the guest room could use a paint job and a new mattress (Mum, this one is for you!). Oh, and the guest bathroom does not fully operate anymore.

8. You need a fresh start

A new home is a new start and an opportunity to become happier. What’s more, changing home helps declutter not only the closet but also the unnecessary automatic payments (for cable or the landline) you are not really using.

Lately, I’ve witnessed a new trend of lifelong friends moving closer to each other, and I must confess that I like the concept! As much as it can be a bit disarming to project such a major event as a move when you are not obliged to for work or personal reasons, it’s good practice to anticipate and seek out that next stage because nothing will prevent it from happening.

Here is a final tip for potential home sellers: It's a good idea to use the summer time to make your property picture-ready and take a few shots from different angles, at least from the outside. You never know what tomorrow brings and, in the event you need to list your property next March, you’ll be in a position to show your property in its best light.

 

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Based on Your Income: 
A general guideline is to allow no more than 30% of your gross monthly income (before deductions) to make your monthly housing payments. This test of your ability to repay a mortgage loan is generally referred to as the Gross Debt Service Ratio.

Complete the following calculation to determine the approximate amount you may be able to afford for the mortgage payment, the property taxes and, where applicable, 50% of the strata maintenance fees. Some lenders will require that this total maximum monthly payment also covers heating costs.

  • Your gross monthly income $___
  • Co-signor’s gross monthly income (if applicable) $_____
  • Other income (monthly) $______
  • Total monthly income $______
  • Multiply the Total line above by 30% to calculate your: Total monthly maximum housing payment $______

How Much Can You Afford to Pay in Mortgage Payments?


Based on your Other Financial Obligations: 
If you have other monthly financial obligations, such as car or credit card payments, the lending institution will also apply the Total Debt Service Ratio test to determine the maximum mortgage loan for which you can qualify.

$ ____ Your monthly housing payment
$ ____ Your calculated monthly debt payments (car, credit card, etc.)
$ ____ Total monthly payment

A general guideline should be that the total of your monthly housing payment added to your other monthly debt payments should not exceed 40% of your monthly gross income.

The Gross Debt Service Ratio and the Total Debt Service Ratio tests protect both you and the lender by ensuring that you do not take on more debt that you can reasonably afford to repay.

Many lending institutions will prequalify you for a specific size and type of mortgage loan before you begin searching for your new home. Taking the time to apply for a pre-approved mortgage will give you the security of knowing how much you can afford to spend.

Before concluding the loan agreement, most lending institutions will require an appraisal of your selected home. The appraised value is a professional opinion of the value of the home and may differ from the purchase price you are willing to pay. The appraised value may affect the approved value of the loan.

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