How Much Can You Afford?
 
Why is it so important to know how much you can afford to spend on a home?

Two reasons. 

First, you don’t want to buy a property and then find out, after you’ve moved in, that you can’t financially maintain it. That would mean having to resell it under stressful conditions. 

Second, you don’t want to settle for a property that’s less than ideal, when you really could have afforded the "dream home" you’ve always wanted.

So how do you figure out how much you can afford to pay for your next home? 

The first step is to gain a clearer understanding of how much your current home will likely sell for in today’s market. That amount, together with other financial resources you might have (such as savings), will determine your available down payment. 

The next thing you’ll need to figure out is the maximum amount of mortgage for which you qualify. 

Say, through the proceeds of the sale of your home combined with your savings, your expected down payment is $150,000. If the lender authorizes a mortgage of $375,000, then you can afford a $525,000 home. 

Typically your lender determines your maximum mortgage based on, among other things, a percentage of your income, to ensure you can maintain the property. 

It’s worth doing your own calculations too. Calculate your anticipated utilities, insurance, and property tax, and make sure you have some money set aside for unanticipated expenses. 

Of course, you don’t need to spend as much as you qualify for on a new home. A home that meets your needs in terms of property type, features, and neighbourhood, may in fact cost you less. 

One thing is for sure. As your Realtor, I can work with whatever amount you can afford and show you homes on the market that most closely meet your needs.
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Open House April 29th & 30th 2-4pm 
3200 Regent St, Richmond



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This weekend, Sat/Sun Apr 29/30th, 2:00 PM to 4:00 PM I will be hosting an Open House at 3200 REGENT STREET in the Steveston Village neighborhood, Richmond. This is an opportunity to visit this excellent House for sale in beautiful Steveston Village.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Steveston Village House for sale.

As always please do not hesitate to give me a call at 604.644.1044 if I can answer any questions before the open house, or if you would like to book a private showing.

Alisa Sakamoto
REALTOR® RE/MAX WESTCOAST

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Getting Friends to Spread the Word about Your Listing


 

When you list your home for sale, you want as many buyers as possible to find out about it. So consider how many friends, neighbours and work colleagues you have. Then think about how many people they know.

The number is likely in the hundreds. One of those people could be looking for a property just like yours.

That’s why getting your friends to spread the word about your listing is so effective. How do you do that?

One strategy is to have a moving party. This gives you an opportunity to ask your friends, as a group, to tell others about your listing.

You can also encourage your friends to bring a guest who is currently in the market for a new home.

Another good idea is to put a profile of your listing on Facebook. This is the fastest and most convenient way for your Facebook friends to point others to your listing.

Do you have friends who work at larger organizations like banks and factories? They probably have access to...

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I just SOLD this Townhouse, 18 3031 WILLIAMS ROAD, Seafair, Richmond

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Walk to the Dyke in sought after EDGEWATER PARK. This bright 2 level 2 bedroom T/H is situated in a quiet location with no thru road. The home features: new laminate flooring, completely updated kitchens with new counters and back splash. High Efficiency furnace installed in 2010; Double glazed windows and patio doors. Bonus: There is a powder room on the main floor and a 5 piece bathroom with double vanity upstairs. This unit boasts plenty of space and storage. Proactive strata and the maintenance fee includes the City water. Family & pet friendly neighbourhood with outdoor pool, clubhouse and play areas for the kids. School Catchment: Dixon Elementary, and Hugh Boyd Secondary schools.

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The stats from the Real Estate Board of Greater Vancouver have been released for MarchWhile demand in March was below the record high of last year, we saw demand increase month-to-month for condos and townhomes. Sellers still seem reluctant to put their homes on the market, making for stiff competition among home buyers.

Please let me know if you have any questions, I look forward to helping you!


    Demand for homes continues to outpace supply in Metro Vancouver


VANCOUVER, BC – April 4, 2017 – A shortage of residential property listings coupled with strong demand, particularly for condos and townhomes, continued to impact Metro Vancouver’s housing market in March.

Residential property sales in the region totalled 3,579 in March 2017, a decrease of 30.8 per cent from the 5,173 sales recorded in record-breaking March 2016 and an increase of 47.6 per cent compared to February 2017 when 2,425 homes sold.

Last month’s sales were...
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I just finished uploading this Condo for sale, 407 1146 HARWOOD STREET, West End VW, Vancouver West

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THE LAMPLIGHTER - one of the West End's BEST & most coveted CONCRETE high-rises right in the heart of the Sunset Beach/Davie St neighbourhood. This 1 bdrm CORNER unit is located just 2 blocks from the beach, walking distance to Downtown, seawall, shopping & an abundance of restaurants. Tons of natural light with south & west exposure. Open balcony with city & partial water views. Includes a locker & parking is $35/month. Refurbished lobby & common areas, re-piped, renewed parking membrane and landscaping. No rental restrictions! Ideal for a first time home buyer or investor. Perfect turnkey MOVE IN READY home with ALL furniture included! Well managed building with proactive strata council and onsite caretaker. No pets allowed.

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