House Sized Townhouse has Plenty of Space for Your Family!

Great space for your family nestled next to the quiet walking trails of Stony Creek. This house size townhome has plenty of room for your family and is part of a fabulous community. Conveniently located close to Lougheed Mall, shopping and the Skytrain are close. Up the block from Stone Creek Elmtry and around the corner from Burnaby Mountain High and SFU. This home has nice updates including a gourmet kitchen, bathrooms, and flooring. The family room and storage downstairs will make life easy. The outdoor spaces and warm gas fireplace will make life fun and enjoyable for entertaining. Call for an appointment today or come by our Sneak Peek open Thursday 6-7pm or Open House Saturday 2-4pm.001

Tasteful Townhouse that you’re going to want to see!

002The Madison is one of South Surreys finest buildings, this classy home features an open floor plan and private entrance. The California Closets and extra storage along with the outdoor patio and garden area extend your living space for a house like feeling. Centrally located, this convenient location is directly across from a park, walking distance to White Rock, Semiahmoo mall & transit. The chef in the family will appreciate the gas cook top and spacious kitchen. This building has great amenities with a fabulous community feel makes this unit the perfect place to live. Call today for an appointment or come and see us at our Sneak Peek Open House Thursday 5-6pm or Open Sunday 2-4pm.

Find out more at: http://www.vancouverpropertyfinder.com/listing/cms/1787-154/

 

The Perfect Downsizer!

This beautifully updated unit with large rooms is the perfect downsizer! Easily move in your house size furniture and take advantage of the in-suite storage as well as a storage locker. The kitchen has updated appliances and a high-end back-splash. The Uptown location is steps to shopping, transit, and Moody Park right at your doorstep. The quiet and well-maintained building offers a live-in caretaker (in a strata owned suite) which provides a higher level of security and the building has completed a depreciation report for piece of mind. 19+ age restriction. This move in ready home is waiting for you. Come to see this great home Thursday night 5-6pm or Saturday 2-4pm or call for an appointment today.703_-_550_8th_Street-21694-001

Purchase Plus Improvements: Don’t buy your dream home! Create it!

Lego HouseDo you want to get your dream home without having to fight other buyers in a bidding war? Want to get a deal? Want to create value? Do you want a nice home but it seems just out of your reach? Do you find that places just aren’t…right? Do you ever say this would be so much better if…?

What if you found out you could make those changes and create your ideal space?

With the new mortgage rules decreasing amortizations, many buyers need a larger down payment. So then they have less or no funds available to be creative with when it comes to making that nice newly purchased home revitalized so it feels like their “own” home.

With interest rates at all time lows, look at the options of older, beat up, tired properties that no one else wants to update, and turn it into a modern comfortable home for you and your family. If you are willing to put in the time renovating an older home, using a Purchase Plus Improvements mortgage you may be able to not only get a good deal but create the space you want! There are a few different ways to do this. The basic idea is the bank will lend you the majority of your mortgage upfront and hold back a portion of the funds to cover the extra costs of your improvements.

This type of mortgage used for a property purchase does require the buyer to take a few extra steps. You will need appraisals both before and after the renovation. As well, a third party contractor’s quote (on the cost of the work before you go ahead with the project) will likely be required. This means you are going to want to have some good professionals on your side that understand this process and will work with you to achieve your goal.

Let’s work through an example:

Let’s say you buy the home that really needs updating…so you get a great deal because it has a Sunflower Yellow bathtub and toilet, with Avocado Green appliances in the kitchen and shag carpet that looks like it is ready to get up and walk away. Because of the distressed or dated nature of the property, you make a great deal and purchase it for let’s say $800,000. With your contractor and appraiser, you determine after renovations are completed, the home would be worth $860,000. So the bank agrees to funds for the future value of the home, using a purchase plus improvement mortgage allowing you to purchase the home first, with additional money set aside to then cover the costs of renovations. What the bank basically does is provides the regular funds to purchase the home at $800,000 (as they would for any normal transaction) and then allow an extra $60,000 to be held in a lawyers’ trust account to pay for the renovations. As part of this process, the updating must be verified by an appraiser, or via receipts, once all of the renovations are complete.

This type of strategy is done slightly differently by each lender but is a very real option for people in today’s market. It does take some extra work or sweat equity with good planning but it will allow you to take advantage of low interest rates when most of your money is going into your down payment. Use bank financing to your advantage and create a space you truly can call your own.