What are BC home hunters looking for when they purchase a home?

Different people prefer different things and especially when selecting a home sweet home to live in for the rest of your lives, priorities change. It’s not always only the price of the house that matters. Surely, some people priorities the size, the number o bedrooms, the location and lots of such things.

According to a survey, the key home features that BC residents are currently looking for is outdoor space – of course within a specified price range! 65% responded that outdoor living spaces were just as important – whether it was a small yard or just a simple balcony. Over 55% had their priorities set on the number of bedrooms and 52% made their decisions based on the overall square footage. Well, 51% also included location based features such as whether the home is at a walking distance from the most common amenities.

Here are the most important features that home buyers are currently considering before they make a purchase in BC:

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Cost of housing – This is almost always the first priority on the list. Once the cost of the housing suits budget constraints, all other criteria can be checked and worked upon.

Private outdoor space – This criterion seems to be growing in popularity over the past few years. Outdoor spaces are an interesting addition to your lifestyles.

Number of bedrooms – This usually is a criteria for growing families and families with kids. The number of bedrooms needs to be considered.

Overall square footage – the size of the house could contribute to the living experience. Well, no one wants to live in a place where you feel like the walls are closing in!

Storage space – The amount of storage space is being considered as a criterion for a number of home buyers in BC.

Walking distance to the most common amenities – Shopping centers and malls at a walking distance means a lot to some home buyers.

Garage or indoor parking – Well, many families care about a proper parking space while purchasing a home in BC.

Pet friendly – A pet friendly neighborhood is on the top priority for those who already have a pet and are planning to move or for those who plan on buying a pet in the near future.

Reputation of the developer – Checking out the reputation of the developer seems to be an increasing trend in BC before buying a house. Home buyers contact agents and do their research before making a buying decision.

Access to public transit and proximity to work – this decides how convenient their lifestyle is going to be. This has been an increasingly important factor for a number of home buyers.

Priorities often decide the type of house people select and there could be certain tradeoffs there. For example, proximity to amenities and work could mean a smaller home or a spacious outdoor area could be far away from work. Finding the right balance for families to live comfortably is the key to selecting a home in BC.

Want to buy a home in Vancouver? Tanvir Khera has been one of the most leading residential Realtors in East Vancouver and the Lower Mainland

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Rent – To – Own: A Re-emerging Strategy

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Buying a home could be your fantasy come true or a nightmare depending on how you plan for it and how you manage your finances. It’s no doubt a huge investment – if you prudently select your financing options. The recently re-emerging home buying strategy seems to be the one that was prevalent in the 1990’s also widely known as the rent – to – own strategy. It is a successfully tested win – win way of making that investment in the real estate market that you always wanted.

The rent – to – own was almost extinct for the past couple of decades due to the relaxed lending environment where mortgage was easy. In today’s date and time, it is re-emerging as a popular home buying strategy due to the tightening of the lending policies.

There are two specific parts to this strategy: 

1. RENT
2. OPTION FOR THE TENANT TO PURCHASE

In this case, generally a tenant is someone who wishes to purchase, but is unable to do so due to the lack of capital or credit to make a down payment. The investor generally has the down payment and wishes to make a fixed deposit on the property after a certain period of time.

Perfect candidates for Rent – To – Own

The investors that wish to work with the rent – to – own strategy generally work with tenants who qualify at the bank for a mortgage. These tenants have been usually turned down by the CMHC. The other lot best suited for such a deal are the ones who are new to Canada and do not have an established Canadian credit. Some tenants already own a house on mortgage and are hence not eligible for two mortgages at a time. Those who have recently started a new job and do not have an established employment record also find this strategy a great boon. The other category that are highly drawn towards the rent – to – own strategy are those who are self employed and do not have enough proof to support their income.

So, how does it work?

Investors who own a home find tenants and agree on a future price of the property. This is generally for a specific period of time say – 3 to 5 years. All this is estimated taking into consideration the current market rates and the likely price appreciation within that period of time. It’s typical to see a three percent increase per year. If the market is not so good, the buyer is stuck with the agreed upon price. They also have an option to walk away and lose the deposit. If the market skyrockets, the investor still receives only the agreed upon price putting him at a loss.

A monthly rent is calculated that includes the principle, interest and tax etc. and the option payment. The tenant also pays all the repairs and maintenance costs that may arise. At the end of the term, if the tenant decides not to purchase the house, the investor keeps the option payment. That’s how it works!
It’s however a good idea to consult with experts before any deal is made!

Tanvir Khera, is a full-time Vancouver Realtor® & Specializes in selling or buying a home in Lower Mainland, Tri-Cities,  Fraser Valley and, as well as condos in Downtown Vancouver.

What happens to your mortgage when you sell up?

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Decided to sell up? Worried what will happen to your mortgage? Here are a few questions to consider. Firstly, understand that all mortgages are not created equal. So, make sure that you read the fine print clearly. It will definitely have clauses for pre-payments and the penalties associated with it. While looking for mortgages, you generally look for the best interest rates, however, it is important to read all the clauses, terms conditions clearly. This will help you when you decide to pay before the term ends. The pre-payment penalties for fixed rate mortgages are generally the highest.

Here are a few questions you need to consider asking your lenders about their penalties:

Q. I’m selling my current home and need to port my mortgage to a new property. How long can I take to close without too much damage or avoid a penalty?

A. Some lenders expect you to close your current mortgage on the same day. There are some lenders who give you a period of 30 – 60 days to close. Make sure you understand the policies of your lender.

Q. Can I increase my mortgage amount without a penalty?

A. There are many lenders who allow you to increase your mortgage amount without any penalty. Some have the facility to blend extend. Others allow you to keep the current loan as it is and give you an additional loan for the remaining amount.

Q. Do I have to pay reinvestment fees?

A. If the mortgage is paid off within the first three years, some of the lenders do charge a reinvestment fee. You will also have to pay back the cash incentive you got during the first mortgage.

Q. What term is used to calculate interest rate differential penalty?

A. Some lenders use a shorter term that is nearest to your maturity date. This however significantly increases your penalty.

Q. Is the fixed rate mortgage penalty based on posted rate, bond yield or discounted rate?

A. Some lenders increase penalties on posted rates. This can dramatically increase you penalty. Some other lenders use the bond yield this generally depends on the bond market. Yet some other lenders use the posted rates and calculate a 3 month interest as penalty. Make sure you ask your lender about his policies and clauses.

Q. If I pay the penalty, can I get out of a fixed mortgage?

A. Sometimes you cannot get out of a mortgage before maturity unless you actually sell your home. That is why you must ask your lender for all the clauses before you finalize.

Q. If a mortgage is broken in order to stay with the lender, is a percentage of the penalty be forgiven?

A. The answer to this is that most lenders will allow you to do this in order to keep business. But be careful, make sure that you clearly understand all the clauses and all the terms and conditions before you jump to conclusions.

It is important that you ask questions and then take informed decisions while moving up and not being penalized for doing so!

Find Mortgage Calculator in Vancouver at nazproperties.com. Mortgage Calculator Find The Best Mortgage Interest Rates.

Moving to a new neighborhood? Here’s what you should look for

Moving to new neighborhoods could be an overwhelming decision. It’s always best to do your research before taking a decision and making the move. While it’s always a good idea to locate real estate agents in that locality to give you a clear picture of what you are getting into, you could do some research yourself and understand the pros and cons of moving to these new places.

So, before you buy, consider the following points:

Discovering problems and plus points

Neighborhoods are never problematic; its individual preferences that create conflicts of choices and make them seem like uncomfortable or displeasing to live in. So the topmost priority is the buyer’s choice and comfort level with the neighborhood. Some buyers are looking for home maintenance and surrounding areas that are well maintained for their family to move into. It gives you a sense of pride when you drive around your neighborhood and find it well maintained and clean! Also good points to consider are, whether the neighborhood has parks nearby or businesses nearby or some other things that make you either comfortable or uncomfortable. This could greatly influence your buying decision.

Assessing upcoming neighbors

Look for real estate which still has not crossed the ‘affordable’ mark and yet has a growing community. Your best bet for getting such information is the local agent because they are around the neighborhood more often and know all the projects in and out.

Do your homework 

Each family has different needs. So, even if you have consulted a real estate agent, you need to do some research on your own. Talk to a few neighbors. Read up on the internet and find out all that you can about the locality that you are considering buying a home in. Only you will be able to tell whether you get a good ‘feeling’ about the neighborhood or not. Other important factors that you should be looking for are the upcoming developments in that area. This greatly impacts the prices of homes there. Other than prices, it also impacts the quality of life in that locality. For example are there any transit routes planned? Or is there an upcoming business center planned within a short distance of the locality or any other such issues?

Talk to actual neighbors

One important source of information are the actual neighbors living in that locality. They can tell you how long they have been living there or how long they plant o live and why. Also, if there are any neighbors leaving, you will know why. It’s a good idea to take opinions from at least 2-3 neighbors before you finalize your plan.
In the end, however, do not let other’s opinions overshadow your preferences. Make sure that you match your requirements with the offerings of the neighborhood. There will always be differences of opinions so understand how you really feel about the place and then gather facts and finally take the big decision of buying that property!

As for investing or moving up, it is best to consult a Vancouver Real Estate agent before you make the move and decide.vancouver-single-family-home-neighbourhood-street

To DIY or to hire a Realtor®

The DIY (do it yourself) trend with offshoot ideas and discussions on everything from making things, to riding a plane or even further buying a house may sound like a pretty much good idea to you. However, skipping the Realtor® from the scene will more likely make the process stressful and annoying. Hiring a Realtor® has many advantages and here I list down a few reasons to hire one for you.

Buying and selling becomes easy. The DIY will suit some and not all! Going on your own will consume time as you will need some research like browsing Vancouver real estate listings and neighborhoods. While with an experienced agent, the results are faster, concrete and precise. With his contacts and eye for good properties, the agent will identify properties that suit not only your taste, but budget as well. These realtors drastically cut time and hassles to scan through limitless properties across the town.

More value for buyers. Buying home in Vancouver with the help of a Realtor®means more savings as a result of negotiation. As a buyer, you’re not expected to pay a commission to your agent as their commission value is the seller’s headache.

And sellers, on the contrary, will probably lose thousands in negotiation if they do not have an agent. The primary notion is that when you do not have any percentage as payable commission, that percentage of the total value becomes the scope for further negotiation. And buyers will certainly take advantage of this and will offer accordingly.

Help in finding the right value. A property for sale in Vancouver may estimate its value as XX, but is that the right value? To determine the best value that you can get or pay for a particular property is do a Comparable Market Analysis. Realtors can help you to decide an estimated final value of the property by performing an analysis on several parameters on the basis of the current market events.

Help in closing the deal. Realtors are trained professionals to identify and fulfill needs in a timely manner. Selling or buying a home in Vancouver or elsewhere is a long and a lengthy process which can take days or even a month. So, Realtors can help you sail smoothly through the process carrying much of the load and saving you the time to enjoy your new dream home.

Helps you avoid unnecessary hassles. Not so serious prospects can make your buying or selling experience a tricky one. To rebuff such prospects, you need a fully aware Vancouver real estate agent. A Realtor® can help you avoid irritants from the process like builders, buyers /sellers themselves or the authorities at the civic bodies.

They have an advantage. Online property listings that give away details of properties for sale and possible prospects are only a part of the major chunk. Many buyers and sellers prefer to keep the trade under the wraps and agents remain the only point of contact to reach such opportunities. A Realtor® in such cases proves better than just pages of listings with no real contact.

Feel Free to contact me today if you are thinking of Buying or Selling Home in Vancouver – http://www.tanvirkhera.remax.ca

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Are you looking for the best real estate agent?

With the advent of 21st century, real estate market has been developing by leaps and bounds especially in Vancouver, and this is the best time to buy or invest in a lucrative property in Canada, especially in Vancouver. Vancouver Realtor® greatly helps you buying homes, offices and corporate building within your desired timeframe.

Vancouver is always been a place of attraction. To purchase a lavish property in Vancouver adds a feather to your portfolio. Vancouver has accomplished a highly competitive real estate industry, in which it is important to hire a Real Estate agent to assist you further with your needs.

Whether you want to purchase a high-rise apartment, condo, townhouse, a professional agent provides you information that gives you real picture of present day market along with latest prices and rates.

Vancouver is been ranked the second most expensive city to live in after Hong Kong. However for those who choose to reside in this beautiful city there are a number of properties spread across Greater Vancouver; West Vancouver, North Vancouver, Vancouver West, East Vancouver, Burnaby, New Westminster, Tri Cities, Maple Ridge and Richmond. Depending upon your requirement.

Being a trusted and professional agent in the city, many of Buyers & Sellers seek our consultation before buying or selling properties. When it comes to buying property in the city, Vancouver Real Estate broker tops the list of brokers, as she is among experienced and talented agents in the city. Above all, she wears positive attitude, dealing with her client’s, and is a master of negotiating. Thus, she easily converts a deal in her client’s favor, which results in happy clients buying his/her favorite house or condos in Vancouver.

Today, it is more important to find the right Realtor® who has perfect knowledge about the builders, developers and the prices. Buying a property is a life-long investment and if it goes wrong, then whole life earning would be wasted. Therefore, it is really essential to have a professional yet friendly real estate broker who can understand your requirements before providing suitable options.

Vancouver Realtor’s are one of the most leading and experienced real estate professionals who have been catering realty needs of customers from around the world, who are enthusiastic in purchasing or selling properties in Vancouver.

After analyzing your specific realty requirements, property professional presents you Vancouver real estate listings that perfectly matches your needs and gives you your dream home in the best competitive rates.

For highly professional property dealer, client satisfaction is of highest importance. Tanvir Khera fulfills clients’ requirements through her unparalleled services and dedication.

Feel Free to contact her today if you are thinking of Buying or Selling a Home in Vancouver – http://tanvirkhera.remax.ca

Girl On Fire

“To tell a woman everything she cannot do is to tell her everything she can do.” – Spanish Proverb

Though today is International Women’s Day, I celebrate being a woman every day I wake up.  I believe that each woman is a self made piece of art all in their own way.

We all have a story in our eyes that has brought us to this day in our lives.  For me, there is a fire within me that encourages me to be all that I can be, not only for myself , but for future generation of women in today’s society.  I want to inspire others and encourage them to do anything they set their minds to and to embrace all that life has to offer.

I know what I want and I work hard for it. Where ever you are in your life at this moment, be proud of your accomplishments and give yourself credit. After all, who runs the world? ….Girls do!

Here’s to all the women in my life who support me whole heartedly and who inspire me every day to be the best I can be – Thank You for being a part of my journey and for your unconditional love! 

And to the men in my life who support, love and respect me in all that I do – I truly do love you! 

On my playlist today:

“I’m Every Woman” – Chaka Khan

“Man! I Feel Like A Woman!” – Shania Twain

“Respect” – Aretha Franklin

“Roar” – Katy Perry

“Girl On Fire” – Alicia Keys

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An Experienced Real Estate Agent can save you lots!

Whether you are willing to buy or sell a property in Vancouver, the first and foremost action you should take is getting familiar with an experienced Vancouver Real Estate agent. Yes, this is a wise step and it can save hundreds of your bucks. Don’t you love saving your capital?

Then, before you plan for selling a property in Vancouver, start looking for a smart, dynamic and native property agent who can help you in every way to sell your property with maximum benefits. Vancouver is one of the dazzling destinations and people are migrating here from all over the world everyday because of its cool and peaceful environment.

If you just want to live peaceful life or wish to run a business, this is the perfect place where you can have peace and prosperity. That is the only reason that Vancouver real estate market is booming when comparing to the other business cities in the world.

This is the right time to invest in the city through one of the trustworthy Vancouver real estate agent. The reason is an agent can guide you about each and every areas of the city and you can have real picture about business possibilities. Thus, you can choose a perfect place for your business.

Moreover, a dynamic agent is well aware about properties for sale in Vancouver with its exact prices and rates. In this way, one can buy condos and homes in your favorite areas in the city. Whether you want to live peacefully in West Vancouver or North Vancouver, you will get every possible help from such agents who have been passionate about helping persons and professionals in buying property of their choices.

Today, Vancouver has become the heart of millions because of its beauty and bounty! And days after days, more and more people are arriving in to this lovely city to stay in high amenity homes and condos.

Because of this, there are chances that you may become a pray of wrong hands. Therefore, it is well said, “prevention is better than cure”. And to save your extra money, there are many agents who guide perfectly. But, the most trustworthy agents are those who have been licensed.

Yes, licensed property agents have every piece of information about Vancouver real estate listings and therefore they can be your perfect partners in buying properties in the city. Getting your dream homes or condos in competitive rates, should be one of the best deals you have ever made in your life. Don’t you think so? Of course, it is awesome and incredible!

Instead spending months in searching right neighborhood, wise people consult with a Vancouver real estate brokers and get possession of their favorite property in the county. Also, with the help of property agents, they avoid wasting time because agents give them full details. In this way, you can quickly take decisions of owing homes or condos in West Vancouver or North Vancouver.

Live happily buying your favorite property in Vancouver saving hundreds of dollars!

Feel Free to contact her today if you are thinking of Buying or Selling a Home in Vancouver – http://www.tanvirkhera.remax.ca

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Finding the right Vancouver Realtor®

Vancouver is one of the amazing cities to live in. The housing market in Vancouver, Canada has grown into a completely lavish and an upscale market within the last few years and is considered as one of the most expensive cities in the world.

Speaking of Vancouver’s Real Estate, are you looking for your dream house? Or are you in search of an investment opportunity? Then, finding a suitable Vancouver real estate is likely to be an exhaustive affair. However, an experienced Vancouver Realtor® with deep knowledge and sense of the city’s environment and lifestyle can be the right person to help & save you a great deal of time and money.

You can search the internet to find Vancouver real estate listings. These real estate listings often showcase the best estates in the market along with some of the well known Realtors. It may also exhibit the owner’s contact details if available and can be really helpful if you’re looking for a cheaper solution. However, you will be missing a lot of advice and guidance that a Vancouver Realtor® can provide.

Metro Vancouver is home to all sorts of lifestyles and age groups. Businessmen, executives, college students and retirees, all of them are making a move towards the heart of the city. Due to this, a high volume of luxury condos and apartment are in trend and turns out to be a popular choice as well.

With changing lifestyle and trends in Vancouver’s real estate, real estate agents and builders are also assuming a great change in the market within the coming years and are consistently developing new ideas and concepts to keep up with the demands.

Since early, Vancouver real estate has been attracting a lot of interest from immigrants and lifestyle enthusiasts. With a lot of buying activities and property engagement going on all round the year, it has seemingly become difficult to trace a Realtor® who is careful, understands your sentiments and cautiously maps the perfect Real estate in Vancouver that fits you.

A good Vancouver real estate agent will help you to determine on the possible options in accordance to your budgeting, planning, requirements & facilities. Vancouver’s real estate is plentiful of various diverse and vibrant properties as to gratify one’s needs and requirements. As the market sees a plethora of opportunities in real estate, Vancouver realtors are also in abundance. Considering this, you must be very selective; find a Realtor® who listens to you carefully and lists out properties that comes into agreement to your choices.

It is suggested that you look out for a few of them, as each one of them can give a totally new perspective to the city’s real estate. They are likely to show you a number of estates around the city. It is essential that you give your feedback to them each time you see a property as this aids in the selection process and also helps the Realtor® to see the broader scope and find you the right property.

Feel Free to contact me if you are thinking of Buying or Selling Home in Vancouver – Tanvir Khera 

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Buying Real Estate Property in Your Favorite City

Have you ever dreamed of buying a property in your favorite city – Vancouver? Then, you need to look for a full time Vancouver Realtor® who can fulfill your biggest dream as early as possible. It means you need help from full time realtors because they have authentic, liable and latest information about recent rules and regulations related to buying properties in the city.

Therefore, before you start searching for your desired properties, it will be better to search for the right Vancouver Realtor® because this will save your precious time, extra expenses and of course, get you what you are looking for i.e. your dream property.

Today, most of the wealthy people love to invest in this beautiful & peaceful city. That’s the reason; one of the experienced real estate agents is a must as he/she will be well aware about Vancouver real estate listings thoroughly. Moreover, it is important to know if the realtor has been licensed. And you shouldn’t be in hurry while purchasing costly assets because in hurry there are chances that you may give higher price and get trivial home or Condominium.

As Vancouver is one of the peaceful cities in the world, thousands of property lovers are ready to invest in the city. But, they are not able to buy as per their expectations only because they met with amateur Vancouver Real Estate brokers. So, whether you want to purchase small homes or big townhouses, always consult authentic real estate persons in order to receive quality services along with your desired properties.

Vancouver is a big city and is divided into parts; North Shore, Vancouver West side, East Vancouver, Burnaby, Richmond, New Westminster, Tri Cities. If you want to buy in the northern side of the city then North Vancouver Realtor® will be the best option for you. By consulting appropriate property agents, you will come to know about the additional charges or hidden charges and above all, you know whole of the history of builders’ reputation in the market. In this way, you can buy safe and secure properties for you and your loved ones.

There is no doubt about investing in Vancouver real estate. After few years, you will 100% get more than what you did invest in any part of the city. However, it is also essential to buy property through genuine Realtor®. This will help you at the time of selling your valued property without any hassle. Even more importantly, when you buy property through agents, you get quality homes, condominium or townhouses i.e. leak-proof.

So, think about the necessary points well in advance in order to get your dream homes with minimum prices and in your desired location. Living in dream houses gives more happiness than anything else. After all, home is one of the basic needs of human beings. Therefore, you should spend time searching for trustworthy, Vancouver Realtor®. Once you’ve found the right person, everything else will fall into place with there assistance.

Feel Free to contact Tanvir today if you are thinking of Buying or Selling a Home in Vancouver – http://www.tanvirkhera.remax.ca

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