Come by and visit me this weekend on Sunday, August 19th from 2:00 PM to 4:00 PM at 5840 GRANVILLE Ave in Richmond.  This is a fantastic opportunity to visit this gorgeous house! 

Please come with any questions you may have. 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.  In the meantime you can take a virtual tour of this beautiful home.

Alisa Sakamoto

RE/MAX Westcoast - Steveston Real Estate

I just finished uploading this House for sale, 5840 GRANVILLE Ave, Richmond, British Columbia

You'll love this beautiful 5 bedroom, 5 1/2 bathroom home with its open great room concept bringing the outdoors in from 3 rooms surrounding the lovely garden patio. Enjoy the 2nd wok kitchen, a den/bedroom on the main floor (w/ensuite) 4 bedrooms up all with ensuite, granite counters, air conditioning and more. An oasis in the City, this Kraftsmen built home's elegant and modern design makes it the one. Call now to view!

Come by and visit me this weekend on Saturday, August 18th from 2:00 PM to 4:00 PM at 12438 BRUNSWICK Place in Steveston, Richmond. This is a fabulous opportunity to visit this excellent Townhouse for sale in beautiful Steveston South.



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

Alisa Sakamoto

RE/MAX Westcoast - Steveston Real Estate

I just finished uploading this Townhouse for sale, 16 12438 BRUNSWICK Place, Richmond, British Columbia

Wow! This completely renovated 3 bedroom plus loft with deck townhome shows beautifully! All new cabinets throughout, new Caesar stone and granite counters, new sinks, fixtures, new hardwood floors and new high end carpeting, paint and mouldings. This spacious and bright 1730 sq ft home in Steveston Village is just steps to Tomekichi Homma Elementary and Westwind Elementary school. This is the one. You will love this move-in ready home. Sqft includes garage. (1537 without garage) One small dog OR one cat allowed. OPEN SAT AUG 18TH FROM 2PM-4PM.

I just finished uploading this Townhouse for sale, 7 13400 PRINCESS Street, Richmond, British Columbia

Enjoy amazing water views of the Fraser River from this waterfront detached townhome in sought after London Landing.  Be amongst the esteemed few to call this lovely view a daily pleasure from the verandah of your spacious 2300sq ft 3 bedroom plus games room home, with all the charm of the Victorian era and the modern conveniences of today. Enjoy hardi-plank siding, maple cabinets, fresh paint, Kohler fixtures and a double car garage with lots of storage. The views will take your breath away! 

• Make a list of all the features you want in your new home such as number of bedrooms, bathrooms, proximity to schools, shopping and workplace. 

• Be sure you can afford your home. Your monthly housing costs should not be more than 32% of your gross monthly income and your entire monthly debt load (which includes other debts such as car loans and credit card payments) should not be more than 40% of your gross monthly income. 
   
• Calculate your other monthly living expenses such as food, clothing, transportation, personals and childcare to ensure you can afford your mortgage payments. 
   
• Call a REALTOR® in your preferred area. They are trained professionals with knowledge about local conditions and the housing market in general. Through the Multiple Listings Service they have access to virtually every property listed for sale in the province. Your REALTOR® can narrow down your search and provide you with information on properties for sale and those that have recently sold. This will allow you to make informed decisions about pricing. Licensed by the province and members of local real estate boards, REALTOR® must adhere to high standards of ethical behavior. 
   
• Obtain a pre-approved mortgage form the lender of your choice. This will help you determine the price range you should be looking in. With a pre-approved mortgage, your lender will guarantee the interest rate for up to 90 days. 
   
• You may wish to have an independent appraisal done of a property before you offer a price. It can keep you from paying more than the market value. 
   
• Ask your REALTOR® for a copy of the Property Condition Disclosure Statement. This document is completed by the sellers and ensures the buyer gets complete information about the property they are about to purchase, and alerts buyers when they need to do more research on a property. 
   
• If buying a new or existing condo, look beyond style and amenities and investigate whether the construction is of good quality. You can ask for a copy of the minutes to Strata Council Meetings to determine what kind of problems the condominium has had in the past, and the expenses. 
   
• To assess potential water leakage problems, visit a condominium project immediately after a rainfall and check to see if flat areas such as roof deck and walkways have large pools of standing water on them. All building surfaces except specially designed ponds should drain freely and be immediately clear of water after a rainfall. 
   
• It is always a good idea to have the home inspected from a professional home inspector. An inspector's written report should include how well-built the home is and whether any repairs are necessary and the estimated costs. 
   
• Don't forget about other costs when you buy your own home such as legal fees (they will most likely be at least $500), property taxes and the GST (if purchasing a new home).

I came across this article and I thought it was very interesting and helpful for first time homebuyers.  Hope you find this useful!

-Alisa

The Upgrade Cycle

It definitely varies by geographic area — if not by specific neighborhood — but a lot of folks in my area will buy a townhouse or condo as their starter home. After about three years, they’ll start looking for a bigger place to upgrade to, either a bigger townhouse or a single family home. Depending on the family, that upgrade cycle can go through a couple of times as people work their way up to a house that they are happy with and is big enough for their family.

The thought seems to be that if you’re making a little more money every year, by three years out you’ll be in a position to afford a bigger house. And everyone knows assumes that buying is more cost-effective than renting — as long as you’re paying down the principal on your mortgage, you’re going to come out ahead.

But with an upgrade cycle of about three years, there’s a good chance that you will lose money.

The Five Year Rule

When you purchase a house, the general rule is that you want to be sure to be in the same location for at least five years. Otherwise, financially, you’re probably going to take a hit.

The first hit is your closing costs. Every time you go through closing — buying and selling — money hits the table. Depending on where your house happens to be, the buyers and sellers pay different amounts, but everyone pays something. We can easily be talking about thousands of dollars and limiting how often you have to pay out that kind of money is always a good idea.

But you take a second hit when you look at your mortgage statement to see exactly where those monthly checks you send in are going. The way mortgages are structured, you pay much more interest in the first few years that you own a house. Usually, it isn’t until you’re about five years into paying down that mortgage that you’ve made enough progress on the principal that the math actually works out that you’ve gotten a better deal than paying that monthly check to a landlord.

David’s Note: When you take out a mortgage, you are paying an interest rate on what you owe. So, in the first year, when the principal is highest, the interests you need to pay is the highest as well. However, since the monthly payment is the same through the loan (at least with a fixed rate mortgage anyway), more of the payment will be used to cover the interests payments, and therefore less goes towards the principal. As your principle goes down, your interests payments will go down, leaving more of your check to go towards the principal.

If you can wait at least five years to move, you’re in a better position to be ahead of the game.

Defeating the Five Year Rule

Five years is a generality. If you add in a couple of other factors, you can make buying a house that you don’t plan to stay in long-term a better choice.

The biggest factor is how much you’re going to pay on your mortgage. A lot of people buy as much house as they can afford, according to what lenders offer them. That’s usually the upper end of what you can financially manage. If, however, you buy at the lower end of what you can afford and make extra payments, you can pay off a bigger chunk of the principal. You need to run the numbers for the specific house you’ve got your eye on, but you can often come out ahead.

You may also consider buying a house that you won’t stay in for five years — but that you also won’t turn around and sell. It’s not out of question to purchase a home, start paying it down and fixing it up so that you can turn around and rent it out. You do need to be careful that you’re choosing a house that you can afford even if you don’t have a renter, on top of a mortgage for your next home. There are plenty of other arrangements that can work out similarly, but you need to study up on real estate before making such a choice.

[Click here for a discussion on whether you should buy an investment property]

But if you’re buying just on the basis of what the bank says that you can afford and you don’t want to think about it, stay in the rentals until you’re ready to spend at least five years in the same home.

David’s Note: Here is a quick and dirty formula that you can use to help you figure out whether it’s better to buy or sell that works with any duration of ownership. Try to determine the answer to: Seller and Buyer Agent Fees When You Sell + Purchase Price + Maintenance Cost for the Time of Occupancy + Interest Paid on Mortgage + Investment Gains from Your Down Payment + Taxes Paid Such as Property Tax + Closing Costs – Selling Price. This number could come out negative or positive, but if it’s lower than the rents you would have paid during the same time frame, then you would be better off buying. If the number is higher, meaning that the selling price wasn’t high enough to cover all those costs, then renting would be the more cost effective choice.

Of course, the big question mark is your selling price, which you sort of have to estimate. Also, note the obvious that the higher the selling price, the more buying makes sense. The five year rule is actually pretty arbitrary, but if you assume that the long term trend of real estate is up, do you see why buying makes sense the longer you stay in the home?

Courtsey of moneyning.com
Article found here. 

---

DIY Wallpapered Side Table

---

 
Spruce up spaces big and small by covering a plain boxy table with wallpaper.

 Thought this was a useful article for first time home buyers!  

Why Do You Need a Home Inspection?

Home Inspections are an opportunity for you to learn a lot about your home before you finalize the purchase. In a Home Inspection, Home Inspectors are performing two key functions:

• Documenting The Home - Home Inspectors identify the types of building materials and the condition of those materials used in constructing your home. By providing you this information in a written report, you will learn what maintenance needs to be done and when some home systems may need replacing. Insurance companies and occasionally financing companies may want to know types of electrical wiring, plumbing materials, and that the home is in good order all of which you will know from your inspection report.

• Deficiencies - Deficiencies are concerns your Home Inspector raises in an inspection where parts of your home are beyond regular maintenance. Examples of deficiencies range from badly neglected exterior paint to failures in building structure. Deficiencies identified in a home inspection tend to need immediate attention.

When you hire a Home Inspector, you are buying an education and custom report on the home you are buying. You will know what major expenses may be coming up near future, what minor maintenance items need to be completed, and you have an opportunity to ask questions to an expert about various systems in your new home you may not be familiar with.

Does a Home Inspector Pass or Fail a Home?

Home Inspectors do not pass or fail homes. Your Home Inspector will educate you on any concerns they may find and help you understand your options. No home is perfect under the lens of a home inspection and all deficiencies, except location, in homes can be corrected. It is up to you as the buyer of the home to decide for yourself if the home passes or fails ahome inspection.

Who Gets a Copy of the Home Inspection Report?

Only you, our client, get a copy of the home inspection report. We even need your permission and direction to issue it to another party, typically your Realtor. We don’t disclose anything we find in the home (written or verbally) to the seller, the sellers agent, or anyone else unless there is some type of life safety concern such as a gas leak. When we complete our home inspection report, you are the ‘owner’ of the report and can distribute it as you see fit.

How Do I Hire a Good Home Inspector?

There are 4 things you should look for in a good home inspector:

• Communication Skills - You need a Home Inspector that can clearly communicate with you about your home inspection results and can also clearly answer your questions so that you understand the answers. A Home Inspector with 20 years of experience is not worth anything to you if they cannot articulate to you their concerns and options you have. Look for home inspectors who publish material in newspapers or blogs as this is likely a good sample of their communication in person.

• Valid License - In British Columbia, all Home Inspectors are required to be licensed by Consumer Protection BC. You can confirm an Inspectors license at the Consumer Protection BC website.

• CAHPI (BC) Member - The Canadian Association of Home and Property Inspectors is the oldest Canadian professional home inspection association and the only association that can legally give out the RHI (Registered Home Inspector) designation to its members. CAHPI (BC) members can be verified at the CAHPI (BC) website.

• Expertise - You want a Home Inspector who has the core knowledge to protect your investment and provide you a detailed report. CAHPI (BC) membership is a great way to know your home inspector has the expertise they claim to have as it tests all its members before allowing them to practice Home Inspections.

Final Thoughts

Buying a home can be both rewarding and risky. Hiring the right Home Inspector will give you confidence in your purchase and allow you to buy your home with your eyes wide open.

Courtsey of James Bell - Owner/Operator of Solid State Inspections Inc.
Article found here.