Blog - Knowledge Blog

Monday, April 22, 2024   /   by Janine Thomson

Facts on BC's Speculation & Vacancy Tax

British Columbia's vacant property tax, officially known as the Speculation and Vacancy Tax (SVT), is a provincial tax aimed at addressing housing affordability and encouraging owners to utilize residential properties in high-demand areas. Here's everything you need to know about BC's vacant tax:
Objective: The primary objective of the Speculation and Vacancy Tax is to target properties that are left vacant for extended periods, particularly in areas with low rental vacancy rates or high demand for housing. By imposing a tax on vacant properties, the government aims to encourage owners to either rent out their properties or sell them to address the housing shortage.
Applicable Regions: The SVT applies to designated regions in British Columbia where housing affordability and availability are significant concerns. These regions include the Metro Vancouver Regional District (excluding Bowen Island and Lions Bay), the Capital Regional District (excluding the Gulf Islands a ...

  real estate, real estate taxes

Monday, April 22, 2024   /   by Janine Thomson

Ideas for Preparing your Home for Sale

Preparing your house for sale is crucial for making a positive impression on potential buyers and maximizing its appeal. Here are some of the best tips for getting your home ready to sell:
Declutter and Depersonalize: Start by decluttering your home to create a clean, spacious environment that allows buyers to envision themselves living there. Remove personal items such as family photos and memorabilia to help buyers visualize the space as their own.
Deep Clean: Give your home a thorough cleaning, paying attention to every room, including often overlooked areas like baseboards, light fixtures, and windows. A clean home conveys a sense of care and maintenance to potential buyers.
Enhance Curb Appeal: First impressions matter, so invest in enhancing your home's curb appeal. Mow the lawn, trim bushes, plant flowers, and make any necessary exterior repairs to create an inviting entrance for potential buyers.
Make Repairs and Updates: Address any minor repairs and maintenance ...

  real estate, preparing for listing, home maintenance tips, selling a home

Saturday, April 20, 2024   /   by Janine Thomson

Top 10 reasons to move to Victoria BC

Moving to Victoria, BC can be a great decision for many reasons. Here are the top 10 reasons people often consider when moving to this charming Canadian city:

Scenic Beauty: Victoria is renowned for its breathtaking landscapes, including ocean views, lush greenery, and beautiful gardens. The city's backdrop includes the stunning Olympic Mountains and the Strait of Juan de Fuca.

Mild Climate: Victoria boasts one of the mildest climates in Canada, with relatively warm winters and cool summers. This makes it an ideal location for those who prefer to avoid the extreme temperatures found in many other parts of Canada.

Outdoor Activities: Due to its mild weather and natural scenery, Victoria offers a wealth of outdoor activities year-round. Hiking, kayaking, sailing, and cycling are popular, and there are numerous parks and trails, such as Beacon Hill Park and the Galloping Goose Regional Trail.

Vibrant Arts and Culture Scene: The city has a lively arts scene, with numerous gal ...

  victoria bc

Saturday, April 20, 2024   /   by Janine Thomson

Why Getting Pre-appoved for a Mortgage is Your Secret Weapon in House Hunting

Hey future homeowners! Let's dive into one of the savviest moves you can make on your journey to buying a home: getting pre-approved for a mortgage before you start shopping. Yes, it's like having a backstage pass at a concert, but even better—because it could lead you to your dream home.
Why Pre-Approval Should Be Your First Step
1. It's Like Having a Budget Buddy: Imagine walking into a store where everything is priced just right for your wallet. That's essentially what mortgage pre-approval does for you. It tells you exactly how much house you can afford, helping you to shop within your budget and avoid the heartache of falling in love with a home that's just out of your financial reach.
2. Makes You a VIP in the Eyes of Sellers: In today’s competitive real estate market, being pre-approved is like wearing a badge that says “I’m serious, let's do business.” It shows sellers and real estate agents that you're not just window shopping—you have th! ...

  mortgages, pre-approval

Monday, April 15, 2024   /   by Janine Thomson

What are Strata Fees and how do they work?

Strata fees, also known as strata maintenance fees or condo fees, are regular payments made by owners of units within a strata development in British Columbia, Canada. These fees are essential for covering the costs associated with the maintenance and management of the common property and shared services in the strata corporation.
How Strata Fees Work:

Calculation and Collection:
Strata fees are typically calculated based on the unit entitlement of each strata lot relative to the total unit entitlement of all the lots in the strata corporation. Unit entitlement is often proportional to the size or value of each unit.

Fees are usually collected monthly and are determined by the strata council’s annual budget, which estimates the total cost of upkeep and services for the common areas.
What They Cover:
Strata fees are typically calculated based on the unit entitlement of each strata lot relative to the total unit entitlement of all the lots in the strata corporation. Unit ...

  strata fees