• Victoria
  • Sidney
  • Saanich Peninsula
    250-656-4626
In your neighbourhood...
  • Victoria
  • Sidney
  • Saanich Peninsula
    250-656-4626
In your neighbourhood...

Blog

Flood Insurance Information - Category: Home Buying

Posted by Jack Barker

As the events of the past week have shown, extreme weather risks need to be a consideration when purchasing a home. While Victoria itself hasn’t been too badly affected by the floods, it’s still a good idea to keep these issues in mind, and to ensure you’re protected should the worst case scenario happen.  

This brings us around to the important topic of home insurance, and in particular, protection against extreme weather and floods. 

We’re going to look in a little more detail at one of the most important insurance protections for British Columbians: flood insurance. 

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What First Time Buyers Should Know Before Starting Their Search - Category: Home Buying

Posted by Jack Barker

Buying a house or condo for the first time is exciting, but as with anything you do for the first time, there can be a few unknown elements along the way. It can be a complex process and there is a lot to consider.

First thing is to make sure that the time is right. Do some soul searching and make sure you want to buy a home because you genuinely want a home — not because you need an investment or simply think it’s “time” to settle down.

Homes require a great deal of time, money, and energy to purchase and maintain. You want to love your home. If the timing isn’t right, you may regret the decision. If it is the right decision, then great! You can move onto the next step. 

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Avoid Money Pit Problems & Get a Home Inspection Before Purchasing a House - Category: Home Buying

Posted by Jack Barker

There are many reasons to be excited about purchasing a new home, but there are potential issues as well. Every time one thing comes to mind, you realize the money it could cost to repair or maintain it. Getting a home inspection completed can avoid blowing out your budget and make the process exciting all over again. 

If you are a first-time homebuyer, an inspection can give you a crash course in home maintenance and a checklist of items that need attention to make your home as safe and sound as possible. Whatever the situation, addressing issues early through a home inspection can save you tens of thousands of dollars down the road.

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3 Reasons You Should Consider Buying a House With a Friend - Category: Home Buying

Posted by Jack Barker

Purchasing property in this day and age seems like an impossible goal when you’re a single person. Buying a house with a friend can open you up to a lot more possibilities, including specialty loans created just for these situations.

A co-owner doubles your buying power because you’ll be combining your income and savings with someone else. There’s also the added bonus of building a closer relationship with your friend as you own your home together. 

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Record House Prices in Victoria - New Mortgage Rules Come into Effect - Category: Home Buying

Posted by Jack Barker

On July 1st the Canada Mortgage and Housing Corporation (CMHC) new mortgage rules came into effect. These changes are meant to reduce the risk of taxpayers footing the bill for bad loans, as well as protecting homebuyers who would be likely to take on too much risk in an economic downturn. 

These rules include: 

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How a Home Inspection Helps You - Category: Home Buying

Posted by Jack Barker

You’ll definitely want to get a professional home inspection before you buy a particular property as a qualified professional can identify issues you may not have noticed yourself.

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New Surveys Shed Light On The Concerns Of Young Homebuyers - Category: Home Buying

Posted by Jack Barker

With home ownership having undergone a volatile transition phase in terms of both volume and demographics, there are now emerging trends that explain what the new generation of homeowners are worried about when it comes to their property decisions.

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Local School Locations Added To REALTOR.ca - Category: Home Buying

Posted by Jack Barker

New school catchment information on REALTOR.ca will roll out nationally in phases, and is already available for Victoria and Vancouver. Coverage reached 80% of school boards in Canada by September. An additional feature allowing parents to search for a property within a particular school’s catchment area will be available later in the fall.

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What Homebuyers Should Know About BC Wildfires - Category: Home Buying

Posted by Jack Barker

As wildfires continue to burn across BC, thousands of British Columbians on evacuation alert, with firefighters working to protect communities, homes and businesses.

For those with pending real estate transactions in fire-affected areas, the situation is even more uncertain: you likely have questions about how the fires will affect your home insurance and your ability to close on the transaction.

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Bank of Canada Lending Rates On Hold - Category: Home Buying

Posted by Jack Barker

In line with financial market expectations, the Bank of Canada announced it is keeping its trend-setting overnight lending rate unchanged at 1.25%. However the Bank reiterated that higher lending rates are still on the way, with financial markets betting the next 25 basis point hike will be at the next scheduled policy announcement on July 11.

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