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Jack's Blog

Principal Residence and Capital Gain

Posted by Jack Barker

The designation of a property as a principal residence is a significant and important financial planning tool because the CRA allows you to shelter the profits earned on the sale of a principal residence from taxes owed.

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Updated Regulation For Building Inspection

Posted by Jack Barker

The Provincial government intent to improve the rules and regulations for Building Inspections.  Implementation of the regulations will take effect on September 1, 2016 and the updated requirements are:

  • Home inspection contracts must describe in advance what will be covered in an inspection.
  • Contractual terms that limit home inspectors liability will be prohibited.
  • New business record keeping requirements will be put in place for home inspectors.
  • Home inspectors will be required to have valid professional and general liability insurance.

The Province intends to undertake a comprehensive review of qualifications required for a Building Inspector and these new standards are intended to be implemented in 2017.

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Will Retiring Boomers Crowd The Rental Market?

Posted by Jack Barker

We are noticing a major change in America where boomers are competing with millenials in renting properties.  The changing demographics with older Canadians who are beginning to flood the market in years to come pushing up rents and pushing up the construction of rental housing.  It’s the combination of their sheer size and the increasing motivation to downsize.

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Immigration in British Columbia, Canada

Posted by Jack Barker

The BC skilled worker category was modified in January 2015 by introducing a PNP Express Entry system co-ordinating with Federal immigration programs. The most radical changes have been renewed for the business category.

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Heritage Conservation Act Impact On Property Values

Posted by Jack Barker

I have four properties that are impacted by the above Act. There are no notices on title indicating the property is protected under the above Act. If I am involved with any waterfront properties either ocean and lakes, I contact the Archaeological Branch to see if the property is impacted...

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Where Are Buyers Coming From?

Posted by Jack Barker

We constantly hear about International buyers in BC and many people think that the majority of buyers are coming from overseas and other provinces. Let’s check the real facts...

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Underground Oil Tanks

Posted by Jack Barker

If you are thinking of purchasing an older home with oil fired heating it is extremely important you ensure there are no underground oil tanks on the property. It is important that you carry out an independent environmental investigation to ensure there are no underground tanks that may be no longer in use and may have been filled with sand and received upgrade in the past from the Municipality...

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Buying Strata Properties in BC

Posted by Jack Barker

The Strata Property Act of BC will apply to your property. It is government legislation. The Act has seen some major changes over the past three years as you should ensure you receive all the correct information re: the Act before purchasing the property...

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Bear Mountain, Dream Market, Dream Plan.

Posted by Jack Barker

One of North America's most enviable communities, offering highly desirable lifestyle choices, spectacular mountain settings, strategic location, village amenities, and sheer livability . . . At Bear Mountain many high-end homes are purchased by international or out-of-town buyers. Will your home be one of them?...

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