Houston Trail

Houston Trail is a scenic loop that is located in Derby Reach Regional Park in Langley, BC.  The forested trail is 4 km long, is open all year round and is popular with walkers, hikers and the occasional horseback rider.

So you’re buying a home?!  Congratulations!!  To make sure you don’t get blindsided by those sneaky closing costs, read on…

Required Fees:

Deposits: Have about 5% of the purchase price available in cash.  Amounts may vary but this is a good rule of thumb.  The deposit is typically taken at the time you remove your subjects and is usually placed in a real estate brokerage’s trust account.  The deposit forms part of your downpayment will be applied to your purchase price.

Legal fee: A lawyer or notary prepares all the documentation to transfer the legal title of property from one person to another.  This is called conveyancing.  For straightforward transactions you’ll pay a notary or lawyer between  $600.00-$1200.00.

Property Transfer Tax:This is a  tax payable under the Property Transfer Tax Act on the transfer of an interest in real property by the person acquiring the interest..and it’s nasty!! You’re looking at a cost of 1% on the first $200,000.00 and 2% on the balance of the purchase price so it can get pretty expensive.  Is there any way to avoid it?  Yes, there is…but only if you’ve never owned property in your name anywhere in Canada.  There are certain other criteria too such as purchasing a home under $475,000.00.  For more information please visit: http://www2.gov.bc.ca/gov/topic.page?id=BBD16E2D7C1841A7BBD420E3AC5380F1

Potential Fees:

Mortgage Application Fee:  This varies from lender to lender and some don’t charge it at all.

Mortgage Default Insurance:  Commonly referred to as CMHC insurance, this is mandatory in Canada for down payments between 5% (the minimum in Canada) and 19.99%. Mortgage default insurance protects lenders, in the event a borrower ever stopped making payments and defaulted on their mortgage loan.   How can you avoid having to buy this insurance?  Save a little longer to scrape together at least 20% down—it will save you thousands of dollars and will take years off your mortgage!

Sales Tax: This applies only to newly built homes.  If the home is previously owned —commonly called a ‘resale’—then this tax does not apply.   For new builds, you are looking at a cost of 5% GST plus 2% transitional tax depending on when the construction was completed.  Is there a rebate?  Why yes, there is….and here’s a great calculator to help you figure out what that may be:  http://www.lawandassociates.ca/hst-calculator

Home Inspection: Likely your realtor has discussed the merits of having a home inspection done on the property you’re purchasing—it’s just a smart thing to do!  You wouldn’t buy a car without kicking the tires and looking under the hood, right?  So, don’t buy a house without having a qualified inspector go through it.  The cost?  About $500.00-$700.00…but well worth the money.

Appraisal: You've found your dream home. The asking price is $500,000.00 -- an amount you've already been pre-approved for by your bank, but is the home really worth that amount? That's the question at the heart of the home appraisal. The worth, or value of the property, will determine how much a lender is willing to give you to buy that particular piece of real estate.  If your lender orders an appraisal to be done the cost will be about $300.00.

Moving expenses:  Are you packing up yourself and renting a U-haul? Or are you hiring a moving company to do the work for you?  Remember to factor these costs in.  Also, if you’re moving into a strata unit (townhouse, condo, duplex etc) then there may be move in/move out fees as well.  Information about strata move in/move out fees can usually be found in the strata bylaws.

So now you’re in your new home, who else wants access to your wallet?  Well, don’t forget about home insurance, utilities, strata fees, property tax, and the regular upkeep and maintenance to your home.

Don’t be discouraged by the costs…be smart, be informed, and be ready!  Congratulations once again on your new home, and don’t worry, your wallet will recover…:)

Britannia Mine Museum

For almost 70 years during the 1920s and 1930s, Britannia Mine was an important source of copper ore and was one of the largest mining operations in Canada.  The museum is the site of Mill 3, also called the Concentrator and in 1987 was designated as a National Historic Site of Canada. 

Fun for the whole family, learn about the history of Britannia Mine and explore the grounds with underground train tours and gold panning demonstrations. 

The Butchart Gardens

When visiting Victoria, British Columbia; The Butchart Gardens is one attraction that you don’t want to miss!  The gardens receive close to 1 million visitors each year and is recognized as one of the world’s premier show gardens.  The gardens have been designated a National Historic Site of Canada due to their international renown.

The gardens offers exquisite views and a spectacular floral display.  Started in 1904 by Jennie Butchart, the gardens feature Sunken and Japanese gardens in addition to local flora.  The Butchart Gardens are wonderful to visit at any time of the year.

Capilano Suspension Bridge

Capilano Suspension Bridge Park offers an all-encompassing BC experience. The 450 ft (137m) long, 230 ft (70m) high Capilano Suspension Bridge has excited guests since 1889.  The Vancouver landmark is rich in culture, history and nature.

The first location of its kind in North America, the park also features Treetops Adventures, ecotours, award-winning gardens and nature trails.  Observe First Nations totem posts which are North America's largest private collection, period decor and traditional First Nations costumes.  Wander through exhibits displaying the park's history as well as enjoy the surrounding temperate rain forest.  Guests also can witness a First Nations performance, showcasing their traditional Regalia (ceremonial dress), masks, dancing and storytelling.

Stanley Park Seawall

The scenic Seawall is one of the most famous parks in the world and the most famous park in Vancouver. 

The park was created in 1917, its main purpose was to help stave off erosion and took 60 years to complete. 

The Seawall loops around Stanley Park and is 8.8 km, fully paved with gorgeous views of the city, northern mountains, and Lion's Gate Bridge. 

Perfect for walking, biking, rollerblading and sight-seeing!

Home owners should interview a few potential REALTORS® before deciding on one to sell their home. Here are 10 questions to get you started but remember that your REALTOR® should be willing to answer any questions you have about the process of buying or selling your home. 

1. How long have you been in the business?

A freshly-licensed REALTOR® can do a wonderful job and will have up to date training; those in the business longer bring more practical experience to the table.

2. How will your marketing plan meet my needs?

Specifically, how will you sell my home?  Where and how often do you advertise? Will you show me a sample flyer?  How do you market online?  The REALTOR® should be able to talk about what kinds of people are likely buyers and how she will reach out to those specific people.

3. Will you provide references?

Ask if your REALTOR® will provide you with references from previous clients.  Many will have a contact sheet with the names and phone numbers of previous buyers and sellers who are happy to discuss their experiences with potential clients.   If you're uncomfortable with talking to past clients, ask if you REALTOR®  has a website with a Testimonial section that you can read instead.

4. What separates you from your competition?

Key phrases to listen for: assertive, available by phone, or email, analytical, able to maintain a good sense of humor under trying circumstances, frequency of contact, communication schedule, and how your REALTOR® cooperates with fellow colleagues.

5. Can you help me find other professionals?

Your REALTOR® may be able to provide a list of service providers who can help with things such as home inspections, staging, renovations, or legal and financial advice.  Get an explanation if you see the term 'affiliated' as it could mean the REALTOR® is getting compensation from vendors.

6. How much do you charge?

Real estate fees or commission are negotiable and may vary from brokerage to brokerage.  

7.How will you keep me informed?

It's very important to be up-to-date with the process of selling your home.  How will your REALTOR® keep in touch with you?  Will you have regular meetings?  Will they be in person?  Over the phone? Via email?

8.How has your business changed in the last five years?

If your REALTOR® doesn't talk about website tours and smart phones, chances are she is not a highly wired agent.  While low techies can still sell houses, it it getting harder.   Listen for references to social media such as Facebook and Twitter, as well marketing sites as Craigslist and Kijiji.

9. How do you qualify potential buyers?

You're looking for buyers who have the desire, means, and resources to purchase your home.  It's your REALTOR'S® job to ensure that you're not spending your time with deals that can't be closed.

10. Do you have any questions for me?

An effective REALTOR® should be prepared with specific, in-depth questions about your home and needs.

~Some information taken from the Langley Times, Home Real Estate Resource Guide