August 2024

Mold Management for Homes: Detection, Prevention & Remediation

Posted on Aug 30, 2024

Mold is a common household problem that can pose significant health risks and cause structural damage if not properly managed. It thrives in damp, warm environments, making homes susceptible to its growth, particularly in areas with high humidity. Understanding how to prevent, detect, and clean up mold is crucial for maintaining a healthy living en...

What to do with a hidden Underground Oil Tank on Your Property

Posted on Aug 30, 2024

Old underground oil tanks are a hidden legacy beneath many homes in Victoria, BC. Installed decades ago as a primary method of heating homes, these tanks have since become a source of environmental concern and potential liability for homeowners. This essay explores the history of these tanks, the reasons for their use, the modern imperative to remo...

The Dangers of Asbestos in Homes

Posted on Aug 30, 2024

Asbestos was once a widely used building material, valued for its durability, heat resistance, and insulating properties. However, it is now recognized as a significant health hazard, linked to serious illnesses such as lung cancer, asbestosis, and mesothelioma. In Victoria, BC, many older homes may still contain asbestos in various forms, posing p...

Understanding Latent Defects in a Home

Posted on Aug 30, 2024

When buying or selling a home, it’s essential to understand the concept of latent defects. These are hidden flaws or issues within a property that are not immediately apparent and may not be discovered during a standard home inspection. In Victoria, BC, the responsibility to disclose latent defects is crucial, and failure to do so can lead to signi...

What a Foreign Buyer Needs to Do Before Buying a Home in Victoria, BC

Posted on Aug 20, 2024 in Foreign Buyers

What are the Legal Requirements for Foreigners Purchasing a Home in Victoria?

One of the most important aspects for foreign buyers to understand is the legal framework governing property purchases in British Columbia.

Citizenship and Residency Status:
- Do You Need to Be a Canadian Citizen or Permanent Resident? No, you do not need to be a Canadian citi...

The Canadian Real Estate - Glossary of Terms

Posted on Aug 20, 2024 in Contracts in Real Estate

Absorption Rate: The rate at which homes in a particular area are sold over a specific period, often used to determine the pace of the market.
Adjustable-Rate Mortgage (ARM): A mortgage with an interest rate that changes periodically based on market conditions, also known as a variable-rate mortgage in Canada.
Amortization Period: The length of time...

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