real estate guide - home buyers guide 2014

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GUIDE 2014

2 Abbotsford News 2014 – HOME BUYERS GUIDE

604.820.1456101 – 7057 Beatty Dr, Mission

between Lordco & Rail Crossing

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Abbotsford News 2014 – HOME BUYERS GUIDE 3

FRIDAYAPRIL 11, 2014

All listings in this publication

are advertised by Licensed Realtors

FRESHESTLISTINGSIN THE VALLEY

Ideal retreat or your full-time residence in the Country.

This home and property is surrounded by natural

beauty and privacy. Many recent upgrades including;

appliances, sensored lighting and so much more. The

16’ x 52’ solar heated pool is great for kids and games

with a maximum depth of 6’. There is also an electrical

back-up heater for early and late in the season. Primarily

cedar fi nishing throughout including the doors. Pella

wood windows are known to be the fi nest and are used

throughout. There is so much to see including tennis

court, games room, room for your horses or livestock,

barns, shed, workshop and more. Irrigated and low

maintenance property with fruit trees, berries and lots

of fl owers, fountain and waterfall.

www.abbotsfordrealestatereview.com

Online all the time. In print Friday.ABBOTSFORD • MISSION

Lindell Beach, Cultus Lake

43705 Watt Road – $988,000Bob Edwards

604-309-7693

BobEdwards.ca

“Making dreams come true.”

®

Little Oak Realty

Each offi ce independently

owned and operated.

Technology has been a driving force behind the transformation of many industries. Consumers today have access to scores of information that can help them fi nd a property, a REALTOR® and connect all the dots in between.

Purchasing a home will likely be the most important buying decision you’ll ever have to make so it is important to do your own research, understand your rights and fi nd professionals that you are most comfortable working with.

If you’re deciding whether to buy or sell a home, it’s critical that you understand and properly assess your personal and fi nancial circumstances against current housing opportunities.

The REALTORS® of Canada and other real estate professionals have provided a wealth of information online to help you understand what opportunities are out there for you and your family to consider.www.realtor.ca

Formerly mls.ca, this is the most comprehensive and popular real estate listing website in the country.

In 2008, the Canadian Real Estate

Association rebranded and re-designed mls.ca to become realtor.ca. This change brought upgraded search functions and capabilities, which provide a streamlined experience for people using the site.

If you’re looking for a property in BC, you can search by area or MLS® number. If you’re looking for a REALTOR®, you can search the province by name, company or area of specialty.www.abbotsfordrealestatereview.com

Stay apprised of current real estate listings, open houses and recently sold properties by referring to the online version of the Real Estate Review, as published every Friday in The Abbotsford News.

View the current and past issues listed by publication date, and all advertised websites are hyperlinked to allow browsers to click through and fi nd out more about the realtors’ listings.

On this site you will also fi nd icons linking to relevant print publications published by The Abbotsford News. Watch

BC and Canadian Real Estate websites to know

www.abb

all the time. In print Friday.ayS

FRIDAJANUARY 24,

All listings in this publication are advertised by Licensed Realt

FRESHELISTINGIN THE VALL

Open HouseSat, Jan 25

1:00-4:00 pm

Spectacular Mt. Baker View! Perfect location with quick

freeway access! Your ‘almost’ 5000 sq. ft. executive

style home offers luxury, designer fl are and privacy!

Elegant living and dining room, 5 bedrooms and 4

bathrooms, large kitchen with granite countertops

and island (storage plus!), family room (up and

down), games room plus offi ce space for business or

homework central. Spacious master bedroom with

ensuite (heated fl oors) offers a peaceful and quiet

retreat. All this and so much more invites family living

at its best! Built by Udam Const, this 17,000 sq. ft.

property is located in a quiet cul-de-sac, professionally

landscaped, features irrigation, water drip system and

hot tub to enjoy year round. Situated in sought after

Everett area, beautiful setting with southern exposure

and view of Mt. Baker. Call today!!

®

Little Oak RealtyEach offi ce independentlyowned and operated.

Brenda Evans604-807-8882brendaevans.ca

abbynews.com/eeditions

Online all the time. In print Friday.

ABBOTSFORD • MISSION

Perfection on Panorama!35102 Panorama Drive - $759,900

IdTb

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deal retreat or your

This home and p

beauty and privac

appliances, senso

16’ x 52’ solar he

with a maximum

back-up heater

4343

All listings in this publication are advertised by Licensed Realt

Open HouseOpen HouseSat, Jan 25

p1:00-4:00 pm

Spectacular Mt. Baker View! Perfect location with quick

freeway access! Your ‘almost’ 5000 sq. ft. executive

style home offers luxury, designer flare and privacy! fl

Elegant living and dining room, 5 bedrooms and 4

bathrooms, large kitchen with granite countertops

and island (storage plus!), family room (up and

down), games room plus office space for business or fihomework central. Spacious master bedroom with

ensuite (heated fl oors) offers a peaceful and quiet

flretreat. All this and so much more invites family living

at its best! Built by Udam Const, this 17,000 sq. ft.

property is located in a quiet cul-de-sac, professionally

landscaped, features irrigation, water drip system and

hot tub to enjoy year round. Situated in sought after

Everett area, beautiful setting with southern exposure

and view of Mt. Baker. Call today!!

®

Little Oak RealtyEach offi ce independentlyfifi

owned and operated.

Brenda Evans604-807-8882brendaevans.ca

babbabbyneabbyneabbyney ewsws.comws.coms.com//eedit/eeditionssss

Online all the time. In print Friday.y

MISSION

ection on Panorama!Perfe

35102 Panorama Drive - $759,900

35102 Pa

FRIDAYAPRIL 18, 2014

All listings in this publication

are advertised by Licensed Realtors

FRESHESTLISTINGSIN THE VALLEY

Original owners. Gorgeous 5 acre property with

very well kept 5 or 6 bedroom home, can easily

accommodate an in-law suite. Fantastic views of

Hatzic prairie and North Shore Mountains from

the balcony. Loads of updating. Solid oak kitchen

with new granite counter tops, back splash and

laminate fl oor. Brand new stainless steel appliances.

Newer carpet. Crown moulding and fresh paint thru

out. 2x6 construction. Thermo widows. Heatilator

woodstove easily heats whole house. 2” blinds.

Spacious basement with separate entrance is fully

fi nished with 2 bedrooms, rec-room, games room

and potential kitchen area. Beautiful rural setting

only minutes from town.

www.AbbotsfordRealEstateReview.com

Online all the time.

ABBOTSFORD • MISSION

37625 Batt Road – $699,500Rick EdenLandmark/RickEdenAgencies

604-854-4888wwwrickeden.com

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Offi ce: 604-854-4888

[email protected]

continued on page 4


for this Spring Home Buyer’s Guide, and the Fall Real Estate Resource Guide, as they are published throughout the year. For listings in the Chilliwack area, look at www.chilliwackrealestatereview.com.www.rebgv.org

A wide-ranging, one-stop website for real estate information. The Real Estate Board of Greater Vancouver’s website offers visitors a 360-degree look at local real estate, providing detailed MLS® statistics, monthly podcasts, consumer guidance and other information and links related to local real estate.

On the site, you can track home prices in your area, search for a REALTOR®, read about government initiatives that impact local real estate, and learn about the

various cost-savings programs available for homebuyers and sellers.

The site also features a wealth of consumer information related to buying and selling a home, from checklists and FAQ’s to market data and community profi les. One of the most important measures of home value in real estate isthe MLS®Link Housing Price Index (HPI), and this website contains the latest HPIdata as well as a comprehensive break-down of home values across the region.www.recbc.ca

A site for consumer protection and industry regulation.

The Real Estate Council of British Columbia is the body responsible for licensing and regulating REALTORS® in BC. Their website is full of valuable consumer protection information, as

well as information on how to become a REALTOR®.

One of the most important features of this site is the Complaints and Discipline section, which allows consumers to fi le complaints against REALTORS® and inform themselves about recent disciplinary decisions.www.howrealtorshelp.ca

Built and maintained by the Canadian Real Estate Association, this site is fi lled with good information for those looking to buy and sell a home.

The site offers information for buyers and sellers on a variety of topics and includes brief videos to illustrate examples.

You can also fi nd handy tools like checklists for buyers and sellers and mortgage calculators.

Conrad Warkentin Michael Burke Kam Grewal

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Our experienced lawyers are ready to assist you with the following matters: o Buying and selling real estate

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(604) 859-7171

www.rosborough.com(604) 859-7171

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Brenda Brenda EvansCommitted to Excellence

Little Oak RealtyEach of ce independently

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Bringing Families HomeAs a fi rst-time home buyer, I was nervous ...

This is where Brenda excels: guiding you through the home buying process step-by-step from initial

viewing until all the paperwork is fi nished.– First-time Home Buyer

continued from page 3

Websites for buying and selling homes


Home ownership is a big dream for many people, and is likely the single biggest investment most of us will make in our lives. While saving for a down payment can be challenging, you can save for a down payment a little quicker by following a few simple rules.

First, examine your budget and set a savings goal. Make up a monthly budget, recording all your expenses to gain insight into where you spend your money. Also remember that in addition to your down payment you will need to save for the additional costs involved with a home purchase, which include land transfer tax, moving costs and legal fees.

Next, curb your spending and increase your savings. Even a small adjustment in your spending habits can go a long way toward helping you save a bigger down payment.

One of the most effective – yet overlooked – strategies is to put money aside before you can spend it. Set up a regular, preauthorized transfer service that moves a specifi c amount of money from each pay cheque into a savings account. Making savings automatic is a simple and effective way to stay disciplined while saving for a down payment.

Finally, fi rst time home buyers may be able to take advantage of the federal government’s Home Buyers’ Plan. Those who have been actively saving for their retirement can access up to $25,000 from their RRSPs to bump up their down payment when they purchase their fi rst home. The RRSP funds must be paid back within 15 years, so it is important to factor this repayment into your monthly budget.

First time home buyer tip for speedier down payments

Write YourSuccess Story

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SERVING MISSION, ABBOTSFORD AND THE CENTRAL FRASER VALLEY

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it s...susan pelzer & associates

RE/MAX Little Oak Realty www.susanpelzerandassociates.com9-2630 Bourquin Cres, Abbotsford | 604-859-2341 | 1-800-668-8661 | [email protected]

Each offi ce independently owned and operated.

Personal Real Estate Corporation


Susan Pelzer - Sales ExecutiveSusan Pelzer is the founder and coordinator of Susan Pelzer & Associates (Susan Pelzer Personal Real Estate Corporation). Since the start of her career in 1990 Susan has assisted more than 2,000 families meet their Real Estate needs. Susan’s love of people shows in the care and professionalism she gives to all of her clients. Her experience and dedication enables her to provide uncompromising service with a personal touch. Her team has been assembled based on integrity, care and work ethic. In December of 2008 Susan received an award for demonstrating professionalism, courteous service and high ethical standards from the Fraser Valley Real Estate Board. Susan Pelzer feels strongly about her affi liation with CMN and gives part of her commissions earned to the Children’s hospital, “Children are our future” is her philosophy. Susan is very proud to live in the beautiful city of Abbotsford and has done fund raising for many charities and individuals in her home town. Susan believes that buying or selling a home is a huge undertaking and wants her clients to feel well taken care of. Susan Pelzer and Associates have a large data base of clients and a close working relationship with Realtors all across North America. Susan Pelzer takes her responsibility to serve her past, present and future clients very seriously and strongly states that “Client satisfaction will always remain the #1 priority of this Team.”

Wendy Forcier - Buyer’s Agent

Wendy grew up in Abbotsford and graduated from Abbotsford Secondary School. Wendy spent many years in Fort St. John, a small Northern BC community, where she began her Real Estate career. She moved back to Abbots-ford in 1994 where she continued with Real Estate here in her home town. As a Buyer’s Representative, Wendy works very diligently to fi nd her clients the perfect home; actually she prides herself on the diligent service she provides to her clients. She pursues her career with as much determination as she demonstrates in all facets of her life. Wendy has been involved in business, sales and management for over 20 years and with her knowledge of Real Estate and skills as a Top Negotiator it helps her provide professional dedicated service to her clients.

Erika Whittaker - Buyer’s AgentErika has been working in the Real Estate industry for over 20 years, and has been part of Susan Pelzer & Associates for most of her Real Estate career. Erika works as a Buyer’s Agent and offi ce administrator. Erika was born in Fernheim, Paraguay but has lived most of her life in Abbotsford and is dedicated to serving her community to the best of her ability. Erika says that it’s not just about doing a good job, it’s about making clients happy.

Tara Walker - Administrative Assistant

Tara is the newest member of the Susan Pelzer Team, joining in 2012 as the team administrative assistant. She has 2 years of experience in real estate and a strong customer background. She was born and raised in the city of Vancouver but chose to raise her own family in the City in the Country. She has lived in Abbotsford for over 11 years now and wouldn’t change a thing. She loves the city and its strong family community. Tara says the nicest thing about working in real estate is assisting families and residents fi nd their homes and happiness as I did 11 years ago.

it s...susan pelzer & associates

RE/MAX Little Oak Realty www.susanpelzerandassociates.com9-2630 Bourquin Cres, Abbotsford | 604-859-2341 | 1-800-668-8661 | [email protected]

Each offi ce independently owned and operated.

Personal Real Estate Corporation


More than just another pretty facedrealtor.

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DANKEELEY604-859-2341dankeeley.com

® 604.854.3458104-1888 N. Parallel Rd. ABBOTSFORD

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Busy moving season is right around the corner so think ahead.

Planning to move this summer? Summer is the busiest time of year for professional movers, but these tips will make your transition much smoother.

■ If you're planning to use a moving company keep in mind that they usually need plenty of notice (often at least six weeks).

■ Moving always takes much longer than you think so if you want to make changes to your new home (such as painting walls, putting in new carpet or refi nishing wood fl oors) plan enough time to do it before you move in. That way, your furniture and belongings are not in the way.

■ There's no sense moving

things you don't need or want. Look through your house for rarely used items and discard anything that's beyond repair. Have a yard sale to get rid of the rest and plan to take unsold merchandise to the charity of your choice as soon as possible.

■ Make notes about your new house (room/door measurements and locations of electric/cable/phone outlets) so you'll have a good idea about where your belongings will go. Measure appliances to make sure they fi t the space available and that you're able to get all your furniture through the doorways of your new house.

■ If the previous homeowners are taking their curtains and blinds, you'll want to measure windows in places you want privacy immediately (like bedrooms and bathrooms) and

buy curtains or blinds before you arrive.

■ Start arranging now for phone and utility hookups. Phone companies usually need a few days (or even a week+) to get you connected. Arrange for the type of internet connection you want and order extra phone jacks or cable outlets if you need them. Fill out a change of address form with the Post Offi ce and if you have automatic debits on your bank accounts, alert your creditors if you're changing banks.

■ Gather packing material. Buying boxes and packing material can be expensive. Instead, ask grocery stores, electronics stores and offi ce supply stores for their discarded boxes. Also, invest in a tape gun and start saving up newspapers (ask your friends for theirs too)

so you'll have plenty of packing material if you don't want to buy bubble wrap.

■ Be sure to pack a box of essentials (such as a telephone, some clothes, toiletries, medication and a few pots/pans/dishes/utensils) to get you through the fi rst couple of days.

■ If you're using a mover, be sure to pack any small, nonbreakable, valuable items (such as jewelry) separately so you can take it with you in your own car. Large valuable items, such as artwork or electronics, should be clearly noted on the mover's inventory form in case of damage during transit and make sure you buy insurance to cover any damage that may occur.■ Clean as you pack. Unpacking is hard enough work without the added effort.

Secrets to a successful move


Selling properties inAbbotsford and surrounding

areas for 23 years.

Greenhalgh604.855.08002790 Allwood Street

Abbotsford

[email protected]

hh ll hhJeff

My Focus TodayYour Equity Tomorrow.

Call me for a FREEMarket Evaluation

Nancy OlsonSales Associate

Medallion Club Member

®

Little Oak Realty Ltd.Each Offi ce Independently owned and Operated

604.820.0555www.nancyolson.ca

What to consider when making the fi nal decision.

Do take the time to educate yourself about your own fi nances because you don’t want to pay more than the home is worth, nor do you want to take out a mortgage that’s more than you can afford. Be aware of these possible situations and consult a professional.

Buying the fi rst house you look at is kind of like marrying the fi rst person you go on a date with - not necessarily a good idea. The general rule is to walk through at least three homes before you choose. Look at several houses before you buy and make sure to invest in a professional inspection.

Sellers don’t always disclose the whole truth to potential buyers, or they might have done a band-aid job to cover up issues. Home inspectors can

look beyond the fresh coat of paint to fi nd costly underlying problems that will save you time, money and house-induced heartaches later on.

A couple other smart things to do when home buying are to research the neighborhood and to buy based on needs, not wants. It’s crucial that you think about your long-term needs when buying a home so make a list of your needs and stick to it to avoid buyer’s remorse down the road.

Since you have been informed on what do to, let’s reveal certain do nots in order to help you eliminate possible future regrets. Defi nitely do not buy a house for its decor. Look past a home’s decor and make sure the space will accommodate your lifestyle and furnishings. Are the spaces functional and effi cient for your daily routine? Focus on

the fl oor plan and the square footage to decide if a home is right for you.

Lastly, don’t trust everything you read in a real estate ad. Be a savvy buyer and make sure you read between the lines and decode the clever phrases

sellers use to draw you in. For example, if an ad says a home is “cozy”, it’s probably very small. “As-is” means there’s likely a lot of work to be done. Learning the lingo will help you keep realistic expectations for showings.

The do’s and don’ts of purchasing a home


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Take a look around your house. If you were a prospective buyer, would you be interested?

Once you’ve made the decision to sell your home, by using the Multiple Listing Service (MLS), your realtor will calculate your home’s value within your market.

As you will learn from your realtor, very few homes are ‘market-ready’ be-cause, let’s face it, we live in our homes, and we don’t tip-toe around like we’re in a museum.

Getting rid of clutter, doing a thor-ough cleaning, depersonalizing your

home and tidying up the outside of your home are great ways to prepare your home for sale.

However, you need to weigh the cost of improvements versus the potential return. Will this make my home more desirable to buyers and will this in-crease the value of my home more than it costs me to do it are two questions your realtor will help you answer before you embark on signifi cant renovations.

Some repairs are absolutely vital, like a leaky roof or an unsafe electrical problem because it’s against the law to knowingly sell your home with a

material latent defect and not disclose it to the buyer. However, it’s not against the law to leave a visible defect un-re-paired; it just may not be smart.

But how do you know which home improvements will make your home’s value jump, and those that won’t? It’s well documented that the best return is refl ected on remodeling the kitchen, bathrooms and landscaping the front yard. Basements and bedrooms can be a waste of time and money so make sure you work with your realtor to determine what is essential to complete and then set a home improvement budget.

How to prepare your home for sale


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Don’t let emotions cloud your judgment

As you fi nd yourself immersed in house-hunting mode, you may encounter a situation in which you’re torn between two houses. Sometimes the easiest thing to do is taking a pen and paper and outlining your family’s needs, your budget, and the pros and cons of each house. Making a fi nal decision and determining which house to make an offer on shouldn’t be taken lightly. The decision should be made rationally and not guided by emotion.

First of all, you’ll want to compare the neighbourhoods and schools. If the two fi nal contenders are in different neighbourhoods, evaluate the pros and cons. How close are shopping malls, restaurants,

church, and other services? Are the streets maintained? How long will your commute to work be? And, if you have school-aged children, you defi nitely want to consider the reputation of the neighborhood schools. Feeling safe and secure are essential to a living environment so research or ask about crime in your specifi c neighbourhood. You might fi nd theft or vandalism to be more prevalent in one area than another. Other smart things to take into consideration are the seller’s situations and the factor of appreciation. How long has each home been on the market? Usually the longer a house has been listed, the better chance the seller will accept an offer lower than the asking price. Why they’re selling? If it’s a job-related

move or a divorce, the seller likely wants to move out as quickly as possible, meaning you have a better shot at them accepting a lower price.

If one neighbourhood shows an annual average six per cent increase and another is skyrocketing at 13 per cent, you may have your decision made.

Some fi nal suggestions would be to take a good hard look at the homes themselves. If you want a large, open back yard for the kids, or a fi rst-fl oor

home offi ce, be sure to include that on your list and then rate how each house measures up.

Likewise, make a list of the cons associated with each house and determine how much of a negative impact each will have.

As you carefully weigh all the factors, it might become clear that one house is more enticing than the other. Once you make a decision and an offer, you can take comfort in knowing you may still have a back-up if the deal falls apart.

In love with two houses?


Independently Owned and Operated. ®/™ trademarks owned by Century 21 Real Estate LLC used under license or authorized sub-license. © 2011 Century 21 Canada Limited Partnership®™ Trademarks of AIR MILES International Trading B.V. Used under license by LoyaltyOne, Inc. and Century 21 Canada Limited Partnership.

www.century21.ca/aceagencies

Geek out with CENTURY 21

Get Plugged in

Plugged into the local real estate market, thanks to a mobile site, iPhone app and neighbourhood websites, CENTURY 21 Sales Professionals are geeking out over the technology available to them, ensuring their clients receive the most innovative services.

CENTURY 21 AGENTS ARE


Independently Owned and Operated. ®/™ trademarks owned by Century 21 Real Estate LLC used under license or authorized sub-license. © 2011 Century 21 Canada Limited Partnership®™ Trademarks of AIR MILES International Trading B.V. Used under license by LoyaltyOne, Inc. and Century 21 Canada Limited Partnership.

www.century21.ca/aceagencies

Plugged into the local real estate market, thanks to a mobile site, iPhone app and neighbourhood websites, CENTURY 21 Sales Professionals are geeking out over the technology available to them, ensuring their clients receive the most innovative services.

CENTURY 21 AGENTS ARE SMARTER. BOLDER. FASTER.

# 2 – 33555 South Fraser Way, Abbotsford, B.C. V2S 2B7

Ph: 604-853-3374 or 1-877-857-1921Fax: 604-853-2133 Email: [email protected] Agencies Ltd.

REAL ESTATERENTAL PROPERTY MANAGEMENTSTRATA PROPERTY MANAGEMENT

Use our EXPERIENCE towardsolving your REAL ESTATE NEEDS:

For your confi dential consultation to IDENTIFY and ADDRESS YOUR UNIQUE NEEDS call on any one of us to arrange an appointment.

MARKET CONDITION: is it a good time to buy or sell?

FINANCING: fi xed or fl oating rates?

FINDING THE RIGHT PROPERTY: condo, single family house, townhouse, acreage?

CLOSING COSTS: taxes, fees, commission?

MAKING THE MOVE: address change, insurance, when can I move in?

What about INVESTMENT POTENTIAL?

NEIGHBOURHOOD: amenities, schools, recreation, church.

RICHARD ZACHARIAS24 YEARS EXPERIENCE

604-309-6933

AUDREY PERRON22 YEARS EXPERIENCE

604-807-3970

T. JAY TAYLOR22 YEARS EXPERIENCE

604-309-2186

RALPH VISSER45 YEARS EXPERIENCE

604-308-7355

LEN VISSER46 YEARS EXPERIENCE

604-557-6122


Factors that might hurt a home’s value Nowadays, homeowners

looking to sell their homes know it's not as easy to do so as it might have been a few years ago. A struggling economy has made it diffi cult for many homeowners to sell their homes for a price they're comfortable with.

But the sagging economy is not the only thing that can make it diffi cult to sell a home. In fact, a host of other things, some obvious but some not so obvious, can hurt a home's value as well.

A home's location is arguably its best or worst selling point. A home in a great location won't be as diffi cult to sell as a home in a bad neighborhood. But location goes beyond a neighborhood's reputation, especially in recent years.

A home's appearance is another obvious variable that might affect its resale value. Homeowners might want their home to refl ect their own individuality, but that's not going to help when the

time comes to sell the home. If the exterior paint is out of the ordinary, then it might be wise to choose a more traditional or conservative color before erecting the "For Sale" sign out front.

Another thing to consider when selling a home is its size and style. A home that stands out on the block might be an attention-grabber, but that's not always attractive

to prospective buyers. For instance, a colonial sitting in the middle of a street fi lled with contemporary homes will stand out, but likely for all the wrong reasons. It will likely appear dated and out of place, which is something buyers might not want.

In many ways, conformity is not considered an admirable trait. But when selling a home, conformity could make the

difference between a home selling quickly or remaining on the market for months if not years. For instance, homeowners trying to sell a two bedroom home in a neighborhood fi lled with three bedroom homes might notice their home's value is not as high as that of surrounding homes, regardless of the neighborhood or how similar the home's exterior is to surrounding homes.

Older homes might have character and a sense of nostalgia, but appraisers take age into consideration when determining a home's value. And buyers tend to lean toward newer homes for a number of reasons, not the least of which is the feeling that newer homes have far more modern amenities than older homes.

When it comes to a home's value, there are a host of things that could ultimately increase or decrease that value in the eyes of prospective buyers.

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Things to consider before downsizing

Once their kids have left the nest, many men and women over 50 begin to consider downsizing their homes. Downsizing to a smaller home can be benefi cial for a variety of reasons, including less home to clean and maintain, more affordable utility bills and lower property taxes. But the decision to downsize is rarely black and white.

Perhaps the most diffi cult part of the decision of whether or not to downsize to a smaller home concerns the sentimental attachment many homeowners, especially those with children, have to their homes. The home might be too big for your current needs, but it also was the same place where your son took his fi rst steps and where your daughter lost her fi rst tooth. Saying goodbye to a place that was home to so many memories isn’t easy. But there’s more than just sentimental value to consider when deciding whether or not to downsize your home.

Personal fi nancesYour fi nancial situation

merits signifi cant consideration when deciding if the time is right to downsize your home. If your retirement nest egg is not as substantial as you would like it to be, then it would seem as though downsizing to a smaller, more affordable home is a great opportunity for you to start catching up on your retirement savings. But that’s only true if your new home won’t incur any additional expenses that are already taken care of in your current home. For example, your current home may be fully furnished, while a new, smaller home may require you to buy all new furniture because your existing items simply won’t fi t. The cost of such furnishings can be considerable. If you plan to move into a condominium, you can expect to pay monthly

homeowners association fees, and such fees are often substantial. So while the condo itself might be smaller, the additional expenses associated with the property may end up making it more expensive and prevent you from saving more money for retirement.

Real estate marketThere are seller’s markets

and there are buyer’s markets, and ideally you would like to sell your home in a seller’s market. But keep in mind that this might be the same market in which you hope to buy a new home. The nature of the real estate market depends on a host of factors, including geography. If the city or town where you currently live is in the midst of a seller’s market and you are planning on moving to a location where buyers have the upper hand, then now might be a great time to move. But if you currently live in a buyer’s market and hope to move to a seller’s market, then you may end up paying a steep price, even when downsizing to a smaller home. Things may even themselves out if you want to downsize to a smaller home within your current community, but do your homework nonetheless, researching the time of year when you’re most likely to get the most for your home and fi nd the best deal on your next place.

SpaceHow much space do you

really need? Once the kids have moved out, couples may feel like all of that extra space is going to waste. But that can be a knee-jerk reaction, and upon a more thorough examination of the space and your needs you may just fi nd that you can put all of that extra square footage to good use after all. If you have always wanted your own art studio, then now might be the perfect time to make that a

reality. Always wanted a room devoted to home theater? Get to work on converting your basement from an all-purpose game room to your own private movie theater. If, after considering the space in

your home, you fi nd that the extra square footage really is just upkeep you aren’t especially interested in doing, then you would no doubt like a cozier home that’s less of a responsibility to maintain.


EdBrown604.309.6112www.edbrown.pro

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Figuring out if you’re ready to buy a house can be a daunting task so here are some indications that you’re ready to take the buying plunge:

1. Are you familiar with the market? Pay attention to how much houses are listed for in your potential future neighborhoods and have a realistic view of how much a house will cost you.

2. Have the money for a down payment and closing costs. The down payment is a percentage of the value of the property and is usually determined by the type of mortgage you select. Closing costs include taxes, fi nancing costs, items that must be prepaid and other settlement costs. Generally, buyers will receive an estimate of these costs from their lender after they apply for a mortgage.

3. Know how much you can afford. As a general rule, your debt (credit card bills, car loans, housing expenses, alimony and child support) should not be more than about 30-40% of your income. Also, keep in mind that your income, debt and credit history go into determining how much you can borrow.

4. Know what additional expenses will come with owning a home. This includes homeowners’ insurance, utility bills, and maintenance costs (such as roofi ng, plumbing, heating and cooling).

5. Have your credit in good shape. Make sure you haven’t made any recent major purchases, particularly a vehicle. Potential lenders will view your credit history (how much debt you have, how many accounts you have

open, whether your payments are made on time, etc.) to determine whether they’ll give you a loan. And if you’ve made a recent major purchase you may have a harder time getting a loan.

6. You can make a long-term commitment. Are you ready to stay put for at least three to fi ve years? Typically, that’s how long you’ll have to keep the house in order to recoup your buying and selling costs. If you sell before then, you may lose money on the deal. And if you do turn a profi t, you’ll have to pay capital gains taxes if you lived in the house less than two years. The length of your stay becomes even more important now that home appreciation has slowed from its previous pace. If you don’t think you’d stay put for that long, you may be better off renting.

7. You are prepared to become your own landlord. Even if you can afford

homeownership, don’t buy simply

because you can. You need to make sure you’re ready to live the lifestyle.

Owning a place comes

with a fair share of new responsibilities,

headaches and costs – not the least of which is becoming your own landlord. When you rent an apartment, you simply call the landlord if something breaks. With your own home, if it’s broke, you fi x it – or you’ll have to pay someone else to fi x it. Will you have the time, energy or desire to maintain the property? How about the money for all those little extras, such as buying your own lawn mower and hiring the occasional plumber? Make sure you know what you’re getting into.

7 signs that you’re ready to buy a home


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Inexpensive ways to make your home shine.

As anyone in the real estate industry will tell you, it's important to make your home look its best when it comes time to show it. That fi rst impression is everything and even if you're in a great market, it's still key to tidy up your home and prove that it's worth every penny you're asking for.

If done well, staging makes a remarkable difference and

with these steps you'll see that it doesn't have to cost you a fortune.1. Stay on top of your lawn mowing and front landscaping.

2. Embellish your door area with nice potted plants, a welcome mat and a fresh coat of paint on your door.

3. Move all the toys and bicycles away from the front of the house.

4. Clean all your windows

until they're sparkling and clean your fi replace if you have one.

5. Repair any loose shingles and paint/repair your gutters.

6. Remove all clutter (make sure kitchen and bathroom countertops are as clear as possible, try to keep toys organized in closets and shelves, and temporarily remove any excess knick-knacks or family photos if you tend to have a lot).

7. Hang fresh towels in the bathrooms and touch up your paint if your walls have a few rough spots.

8. Vacuum your fl oor each morning and you may also want to think about getting your carpets cleaned before potential buyers view your house.

9. Make sure all your facets are drip-free and replace any nonfunctioning bulbs in your light fi xtures/vanities.

10. Thoroughly clean all

your appliances, including the inside of your oven and microwave.

11. Place a beautiful centerpiece in the center of your dining room table.

12. Eliminate odors as much as possible (place potpourri in the bathrooms and use air fresheners).

13. Let the light in - open all your blinds and curtains.

14. If you have too much furniture, place some of it in storage.

15. Add some fi nal touches, a couple of fresh bouquets of fl owers and some nice potted plants in decorative containers can do wonders.

Remember that everyone has their own style and that you're not trying to impress buyers with your particular brand of decor. Rather, you're trying to present a simple, clean, and attractive home that radiates potential for your home's next owners.

15 secrets of professional home stagers


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If you are thinking of buying or selling a house, and there isn’t a fenced yard, you may want to give it some thought before you make an offer on it. Fences serve many purposes on a property and can even add visual appeal and value to a home. A fence can effectively delineate property borders, serve as a safety barrier and keep pets and children from wandering into the street.

Erecting a fence on a property usually increases the value of the home, putting it in line with similar properties nearby. However, this may only be the case if the fence is installed professionally and matches other fences throughout the neighborhood.

Homeowners planning to install a fence should fi rst secure a copy of their property surveys. A survey of the property is often conducted upon purchasing a home and/or when the land and home is being assessed. If you do not have a survey, you can hire a professional to conduct one.

The survey will be handy because it clearly marks property lines. Depending on the local regulations, fences may need to be installed a certain number of inches or feet within the property line. Your municipality and building code offi ce will be able to guide you further as to what is legal. Reputable fencing companies that work in the community should also have a good understanding of fencing regulations.

A permit is typically needed to install a fence. Either your contractor or you will need to apply for the permit before construction can begin. It is best to follow the law so that the fence can be installed in a manner that is consistent with local

regulations and will not be subject to potentially costly removal.As a courtesy, speak with your neighbors about your fencing

plans. The fence will separate your properties from one another, and your neighbors may have certain feelings about what they want to look at. Even if a neighbor is not sharing the cost, it is a good idea to discuss fencing with your neighbors in an effort to reduce the likelihood of confl ict down the road. Fences have been points of contention between neighbors, and you don’t want a previously amicable relationship to turn sour.

In some instances, neighbors will be excited about the prospect of a fence and may want to share the cost. Fencing contractors may offer discounts for multi-home installations, so it pays to inquire with the neighbors for that reason alone.

Homes with pools may need fences as a safety precaution. Be sure they fi t the protocol. They may need self-latching/locking gates to prevent entry to the yard.

A fence can be a good investment, but homeowners must take the appropriate legal measures and consider their neighbors before erecting any fences.

What you should consider when buying a home without a fence


The importance of a home inspection revealed.

According to HouseMaster, a major home inspection company with offi ces located in 30 cities across Canada, more than 40% of the previously owned homes on the market have had at least one serious defect.

Concluding from their own observations from more than two million home inspections, HouseMaster says the most serious home defects to be on the lookout for are:1. Cracked heater exchange

2. Failing air-conditioning compressor

3. Environmental hazards (such as water contamination, lead paint & underground storage tanks)

4. Moisture in the basement

5. Insect infestation (termites or carpenter ants)

6. Mixed plumbing

7. Aluminum wiring

8. Horizontal foundation cracks

9. Undersized electrical system

10. Defective roofi ng (such as chimney settling or separation)

It depends on the specifi c problem. Even though most of these problems can be repaired, they may be quite costly and this might cause you to contemplate whether or not you choose to buy the house.

A home inspection usually costs between $250 and $400. Hire a qualifi ed inspector and once you make an appointment keep in mind that it’s important for you to be there. As the home inspector examines the house, ask him or her to explain what problems may be encountered down the road, what signs to look for, and how to prevent them. Try to learn how things work and how to maintain them. By tagging along with the home inspection during these few hours, this could prevent headaches and save you time in the future.

10 red fl ags that should raise concern

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WATERLEAFModern vibe with traditional sensibilities

Tour the display home at 36113 Waterleaf Place in Abbotsford, any day (except Fridays) from noon to 5pm. For more information visit thewaterleaf.ca or call 604.850.3694.

think Abbotsford is just fi elds of raspberries, retired farmers and agricultural trade shows? Th ink again.

Th is “City in the Country” is one of the fastest growing communities in B.C., spurred by up-and-coming young professionals who are choosing Abbotsford as the place they want to live, work and do business.

As the demographic changes, so do the real estate off erings. Homebuyers of all ages are talking about Waterleaf, now under construction in the Sumas Mountain community of Abbotsford. Its spacious one- and two-bedroom fl oor plans and Yaletown-inspired decor have people talking.

“People love the display suite,” says sales manager Janae Nicole. “Th ey say, ‘thank goodness Abbotsford is getting with the times!’ Th e fi replace is really sleek and modern and buyers love the contemporary bathroom with walk-in shower and double sinks.”

Th is fully loaded feature list comes standard! Nine foot ceilings, granite coutertops, ceiling height cabinetry, stainless

steel appliances, kitchen pantries, 50” linear-electric fi replaces, wide-plank laminate fl ooring, walk-in closets with organizers, soaker tubs, bedroom air conditioning, secure underground parking and storage.

Th e same philosophy of not having any surprise upgrade costs or extra fees applies to the pricing as well. “It’s great that we are transparent with everything we do. Th e price for each condo is posted on the website for 24/7 access,’’ comments Nicole. “I hear from many purchasers that they were able to crunch the numbers and make their purchase decisions well into the evening hours.”

Waterleaf is remarkable value for mountain view homes,” says Nicole. “It’s the smart buyers who know it’s well worth the wait. Buying during the construction stage not only gets them into the market at the lowest price, it also allows them to choose what fl oor they live on, choose their views and select the colour scheme.”

Waterleaf is built by Myriad Pacifi c Development Group, a local company with more than 25 years experience

building multi-residential, commercial and institutional developments as well as resort communities.

An outdoor swimming pool, hot tub and outdoor grill and patio are scheduled to open with the next phase of construction, and until then, those in Waterleaf ’s fi rst phase will have the enjoyment of a fully-equipped gym as well as a private park for socializing pets.

“Buyers can totally visualize how great their life is going to be here,” says Nicole. “Th ey can cancel their gym memberships, work out at home and play by the pool.”

Waterleaf is also proving popular among those wanting to downsize to one-level living or have the freedom to lock-and-go. Located close to Hwy #1, commuters can easily be on their way and, when home, enjoy the luxury of being walking distance to the Village for groceries or a bite to eat. Even parents and students fi nd the location ideal – close to Mountain Elementary, Abbotsford School of Integrated Arts and University of the Fraser Valley.


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Visit www.thewaterleaf.ca for details or stop by:

real estate guide - home buyers guide 2014

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