Because Experience Matters

Blog › May 2009

Recently Sold Listing 7877 VICTORIA DR, Vancouver, BC

V763944 - 7877 VICTORIA DR, Vancouver, BC, CANADAI have just recently sold this listing at 7877 VICTORIA DR, Vancouver.

New Listing 5327 JOYCE ST, Vancouver, BC

V768536 - 5327 JOYCE ST, Vancouver, BC, CANADAView my new House for sale at 5327 JOYCE ST, Vancouver and currently listed at $648,000.

Prime location close to Joyce Skytrain Station. Central vacuum, H/W floor. 2 3 bdrm on main floor and basement and 4 bdrm rented $1200/mo. Meas. approximate. Baljit for showing 604-351-1772.

New Listing # 404 3680 RAE AV, Vancouver, BC

V768118 - # 404 3680 RAE AV, Vancouver, BC, CANADAView my new listing for sale SOLD at # 404 3680 RAE AV, Vancouver and currently listed at $299,000.SOLD

2 bedrooms very clean, shows well. Spacious open floor plan. 2 baths, LR has fireplace, laminate floors with insuite laundry. 2 covered parkings. Best feature: large roof deck, size approx. 14 x 16 and extra balcony. Walk to Skytrain. 1 pet any size OK. Meas. approximate.

Recently Sold Listing 1496 E 54TH AV, Vancouver, BC

V764279 - 1496 E 54TH AV, Vancouver, BC, CANADAI have just recently sold this listing at 1496 E 54TH AV, Vancouver.

Recently Sold Listing 1055 E 41ST AV, Vancouver, BC

V761885 - 1055 E 41ST AV, Vancouver, BC, CANADAI have just recently sold this listing at 1055 E 41ST AV, Vancouver.

Financing your first mortgage

Financing your first home

 TD Insurance

Even if you think you couldn’t possibly afford a home, these creative solutions can turn you from a renter into an owner.

Like many would-be homeowners, you may be wondering how you can possibly afford to buy your first home, especially if you live in a hot real estate market. But these savings and financing strategies can take you there sooner than you think.

Coming up with the cash
Saving for a down payment can be a financial challenge. Here’s how to do it.
• Make saving automatic. Set up an automatic savings plan at your bank to regularly  move a specific amount of money directly from your chequing account to a savings account  — on payday, for instance. You’ll be surprised at how quickly the “pay yourself first” approach adds up.

• Take a holiday from tax. If you open a new Tax-Free Savings Account (TFSA), you won’t pay any tax on earnings — helping you compound your savings. You can contribute up to $5,000 a year to a TFSA, and save for anything you like, tax-free.

• Borrow from yourself. The federal government’s Home Buyer’s Plan (HBP) lets you borrow from your Registered Retirement Savings Plan (RRSP) to help purchase your first home. You and your partner can each withdraw up to $20,000, provided it’s not locked-in and the money has been in the RRSP for at least 90 days.  You have to repay the loan in installments over the next 15 years to avoid a tax hit.

Review your mortgage options
With many alternatives to choose from, finding the right mortgage product and terms can make a big difference to your ability to carry the costs of a new home.

• Stretch out your term. You can now choose to pay back your mortgage over 30 or 35 years, instead of the traditional 25-year amortization period. It means you will pay more interest over the long term, but you can reduce monthly payments to get into your starter home. You can always change this later, once your income rises and you can pay your mortgage down faster.

• Look for perks. Find out about mortgage programs that may offer valuable incentives, such as cash back options, points programs or retail discounts. The right program could help you keep cash in your pocket.

Remember, once you’ve bought a home, you can look for ways to pay the mortgage off sooner, which will reduce the long-term interest costs on that home of your own.



New Listing 7638 ROSS ST, Vancouver, BC

V765619 - 7638 ROSS ST, Vancouver, BC, CANADAView my new House for sale at 7638 ROSS ST, Vancouver and currently listed at $797,000.

Spotless custom built beauty with view huge living room with gleaming hardwood floor open plan 5 bedrooms 4 bath, 2 gas fireplaces, huge covered sundeck. Bachelor suite in basement. Fully fenced. A must see! All measurements approximate, to be verified by Buyer.