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Our latest ramblings.
Enjoy! We definitely have important things to say!
Our latest ramblings.
Enjoy! We definitely have important things to say!
Potential buyers love to walk into a home and find as many updates and upgrades as possible, especially when it comes to the crowded Langley townhouse market. One of the most obvious updates to a home has got to be appliances. Nothing seems to stick out like a sore thumb than old and outdated appliances or mismatched appliances, which makes new ones a worthy investment if you’re looking to sell.
The last thing you want to do is invest loads of money in high-end appliances for someone else to enjoy, right? But at the same time; upgrading your appliances could take your entire kitchen to a whole new level and be what sets your house apart from another Langley townhouse for sale. This is why we have come up with a few tips to help you get the best deals on appliances so you can increase your home’s value without too much of an investment on your part.
Distribution centers and major retailers often offer scratch and dent savings and sales where you can enjoy some major deals on appliances simply because of a small imperfection, many of which aren’t very obvious at all.
Home improvement, department stores and most big furniture retailers put out flyers every week that you can find in your local paper or online. Check the flyers weekly for some great deals on appliances.
When shopping for appliances, there are big savings to be made if you purchase an appliance package instead of individual items. You can often get some pretty amazing savings by picking up a fridge, range, and dishwasher combo or a washer and dryer combo.
If you really only need to replace one of your appliances because it is old or a different color than the others, then consider looking into refurbished or used appliances to get what you need for less. Your local paper or online classifieds like Kijiji and Craiglist are great places to source out used appliances for next to nothing.
The goal is to spend as little as possible to upgrade your appliances and add some major value to your home by setting apart from others in the Langley real estate market.
Let’s face it; most couples who buy townhouses usually go on to outgrow them at some point and find themselves looking to upgrade to a bigger home. The key to getting the most from the sale of your townhouse so that you can afford to up-size is making sure that you make it more appealing to your target market, which is people who were where you were when you first bought it: singles or couples without kids.
Speaking with an experienced Langley real estate agent about your target market is a good place to start so that you have a better understanding of who you should be trying to impress, so to speak, when getting your townhome ready for sale. Along with insight from a real estate agent who knows the area, the trends and what people are looking, you can also use the following information to make your home more appealing to singles and couples looking for a townhouse for sale in Langley.
Young home buyers are looking for a home that works for their lifestyle, which for most doesn’t include kids. They want stylish and easy spaces that they can see themselves in relaxing, entertaining and often even working. This means removing toys and extra clutter that tends to accumulate when you have children, such as playpens, playhouses, etc.
Potential buyers should be able to walk into a space and envision their life happening there. If your only other bedroom has been decked out for a child, then removing wall decals and toning down paint is a good idea. The perfect second bedroom for appealing to your typical Langley townhouse buyer is one that works as a spare bedroom and office space. This doesn’t mean that you need to send your child to grandmas or move them into the basement. Paint out the room in a stylish and somewhat neutral color and stage it with a simple and uncluttered desk and a bed or foldout couch if space doesn’t allow for a full-size bed. This means that your child can still sleep in the room while the home is on the market—just be mindful to pick up toys and check for any hidden messes before showings.
Go through your home and pack up any knick-knacks, family photos and other memorabilia that isn’t in keeping with what your target market is looking for. They need to be able to envision themselves in the home and that’ll be a lot easier to do if they aren’t bombarded with photos of your family trip to Disney or your child’s drawings and report cards on the fridge.
Talk to an experienced Langley real estate agent for other suggestions on how to sell your townhouse for more so that you can afford to upgrade to a family home.
If your mailbox is full of credit card bills, make sure you deal with them right away. Ignoring them could have long-term effects on your credit score.
A credit score is a number that lenders use to estimate risk. While each lender may have their own way of dealing with your credit score, in general, the higher your score, the lower the risk and therefore the more likely the lender will extend a loan to you at a favourable rate.
You can get an idea of your credit score from Canadian credit reporting agencies Equifax and TransUnion. The answers to the following questions can influence your score:
• How long have you had credit, and what types of credit are you using?
• What’s your history of making payments? Do you carry a balance on your credit cards? Have you missed any payments?
• Do you have outstanding debts? Are you close to your credit limit?
• Have there been a number of recent inquiries about your credit history? (This will suggest you are trying to get more credit.)
• Do you have any record of bankruptcy? Have any of your debts been sent to a collection agency?
A good rule of thumb is if you do have to carry a balance from month to month, make sure to pay down the outstanding balance below 75% of the limit amount (ie. if you have a credit card with a $1000 limit, make sure the balance is below $750).
While a good credit score typically allows the borrower more financing options and better interest rates, a lower credit score doesn’t mean a borrower has no options – it just means the borrower needs to be open to investigating alternate borrowing options with their mortgage broker.
Give us a call with any questions you may have on credit scores, or any other mortgage related inquiries.
For other recent blog posts and market insight, click on Blog in the menu bar at the top of the page.
Selling a home? Might want to adjust your expectations on how long it will take. Below is a video from the Real Estate Board of Greater Vancouver regarding the 2012 housing market statistics. Overall sales are down along with the price of homes and its taking an average of 73 days to sell a property.
For other recent blog posts and market insight on the Vancouver housing market, click on Blog in the menu bar at the top of the page.
Have a great day!
To keep pace with rising property assessments, the BC government has raised the Home Owner Grant threshold to $1,285,000. The threshold is the maximum assessed value a property can reach to allow the property owner to claim the full Home Owner Grant.BC Assessment estimates the value of all BC homes on July 1 each year. The Ministry of Finance reviews this data and adjusts the Home Owner Grant threshold to ensure at least 95.5% of eligible home owners receive the full amount. Owners of homes valued above the threshold may qualify for a partial grant.
Basic grant for 2012 – the basic grant is reduced by $5 for each $1,000 of assessed value over $1,285,000, and is eliminated on homes assessed at $1,399,000 or more.
Additional grant for 2012 – the additional grant is reduced by $5 for each $1,000 of assessed value over $1,285,000, and is eliminated on homes assessed at $1,454,000 or more.
Canadian citizens and landed immigrants residing in their principle residence are eligible for the grant.
In November 2011, the government announced plans to create a further grant of up to $275 for low-income Canadian Forces veterans with more recent service in the event they do not already qualify as seniors or persons with disabilities. Details will be announced soon.
For information on the BC Home Owner Grant program, give us a call at 604-588-4466 or send us an email at info@brokersmart.ca
So, you’ve found your ideal apartment: a 2-bedroom basement paradise or a mid-town penthouse or a fantastic south-facing 1-bedroom condo. Now it’s time to move in right away, right? Sure, start packing, but make sure you also budget for tenant insurance.
Perhaps you think you don’t need it because you’re only renting and you don’t own any fancy stuff. But, what if something happened — would you have enough set aside to replace all your belongings and to find temporary housing?
Tenant insurance protects your property and also covers you in the event that you accidentally cause damage to the property of others. For example, if your bathtub overflowed and flooded the apartment below destroying your neighbour’s property, tenant insurance would protect you. Luckily, it’s a simple and affordable coverage. Also, if you’re a student, your parents’ policy might automatically extend coverage to you at school.
What’s typically covered by tenant insurance?
This type of insurance protects you from damage, like fire, theft, certain water damage and vandalism. If your apartment is seriously damaged as a result of an insured loss, tenant insurance would also typically cover your additional living expenses while it’s being repaired. Tenant insurance also provides liability coverage if someone gets hurt because of your negligence, like slipping and falling on a wet floor in your apartment for example.
How much coverage do you need?
The total cost of tenant’s insurance will depend largely on the value of your contents. Most renters tend to underestimate what it would cost to replace their belongings. It’s smart to take an inventory, including photos, which only takes a few minutes and will make things a lot easier if you experience a loss. Start by walking from room to room and itemize all the contents, including your closets and cupboards. You might think they’re not worth that much until you have to replace them. Keep in mind however that coverage for some insured items may be subject to exclusions or maximum limits. Read your policy carefully to determine your exact coverage.
Typical items to include on your inventory are: computer, printer, tablet, smart phone, flat screen TV, video game system and games, music player and other electronics, clothes, shoes, boots, pots, pans, other personal and household items.
For more information about choosing the right tenant insurance, give us a call (604-588-4466) or email (info@brokersmart.ca).
19978 72nd Ave. Unit 205
Langley, B.C. V2Y 1R7
P: 604-588-4466
F: 604-588-4483
info@brokersmart.ca