It is that time of year that you can top up your RRSP with a contribution if you have some cash. The maximum benefit would be if you had some extra room on your RRSP contribution limit and could contribute $25,000. You may have this amount saved up for the downpayment on a property this spring. You make your RRSP contribution of $25,000 and get a substantial refund. If you are in a 40% tax bracket this would be $10,000. The goverment Home Buyers Plan allows first time buyers and buyers who have not owned a home in the last 5 years to withdraw up to $25,000 to purchase a property. The funds must be in the RRSP for 90 days before they can be withdrawn and the money must be repaid over the next 13 years.
If you with draw the $25,000 and add it to the refund of $10,000 you now have $35,000 towards the purchase of your home. The minimum you would repay annually would be $2000. In any year if you do not contribute the $2000 to your RRSP you must declare the $2000 as income for that year.
Need some more information and help with buying? Call me at 604-466-4549
The relationship between you and your real estate agent should always be productive. Having an open line of communication is absolutely critical to ensuring a win-win partnership!
Once you’ve discussed and agreed on your agency relationship, start working on how you can communicate effectively. Communication is a two-way street so both parties need to be open and honest at the outset.
Start with the basics by discussing your contact preferences. For instance, be clear whether or not you can be contacted at work should your dream home suddenly hit the market. Clarifying these somewhat obvious details ahead of time will mean fewer miscommunications down the road.
Be clear on which features are essential in your new home. Ranking your priorities will help your agent conduct a more efficient search; however, always try to keep an open mind as it may be a good idea to “look outside the box” at homes that don’t completely match your criteria.
If you're selling your home, make sure you discuss any issues that could help or hinder the sale. Agents can offer great advice on staging so show them everything no matter how insignificant. That tiny crawl space you weren't even thinking of mentioning could be marketed as a unique selling feature!
Finally, let your real estate agent know if your needs change and don't ever hesitate to ask questions. If for whatever reason you're not completely satisfied with the way things are going, be completely honest so you can resolve the problem straight away.
The key to any strong relationship is communication. The partnership between you and your agent will hopefully continue for many years after you land your dream home! Please don’t ever hesitate to email or call with any real estate related questions you may have.
The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.
Last year’s home sale total ranks as the third lowest annual total for the region in the last ten years, according to the region’s Multiple Listing Service® (MLS®).
Last year’s listing count is on par with the 10 year average.
“It was a year of stability for the Greater Vancouver housing market,” Wyant, said. “Balanced conditions allowed home prices in the region to remain steady, with just a modest increase over the last 12 months.”
The busiest time of the year for the real estate market is from now until mid June. People have made the decision to move this year and want to get moved before summer vacation or to cordinate with the end of the school year.
When listing your property it will likely take 30-60 days to get and offer. This will depend on pricing and if you price too high it may take longer. The completion and possession dates (when you actually move) will be on average another 45-90 days. The whole process can be as short as 30 days (rare) or as long as 6 months with average being in the 3-4 month range.
If you are thinking of moving this year now is the time to start. We will review market value of your property, all costs to sell and buy and give you advice on staging and repairs that should be done before your house goes on the market.
The New Year provides us with an opportunity to plan a fresh new start with a powerful new attitude.
The media continuously bombards us with negative stories which can bring us down but reading inspirational quotes can help keep our thoughts positive. Here are a couple to get you started:
“A pessimist sees the difficulty in every opportunity. An optimist sees the opportunity in every difficulty.”
“Our beliefs about who we are and what we can be precisely determine what we become.”
There are various websites that send daily motivational quotes. If you post them on your fridge, mirrors and computer screen, they’ll remind and inspire you to stay positive throughout the year!
If you've finally had enough of the dated, floral wallpaper in your hallway, then it’s time to take action!
Removing wallpaper isn’t always easy but it’s well worth the effort. Here are a few environmentally friendly solutions that are just as effective as steamers and toxic removal paste:
Once the wallpaper’s been removed, wash the walls with warm water and let them dry thoroughly before prepping them to be painted. If you do it right, wallpaper can easily be removed so if your dream home’s covered in it, don’t let it deter you from putting in an offer!