What Happens During a Home Foreclosure in BC
Posted on May 01, 2024 in Foreclosures
Foreclosures in British Columbia are a legal process where a lender (most often a bank) takes control of a property due to the homeowner failing to meet their mortgage obligations. The process is designed to allow the lender to recover the unpaid balance of a defaulted loan. Here’s a detailed look at how the foreclosure process typically unfolds in...
What is the Multigenerational Home Renovation Tax Credit
Posted on Apr 27, 2024
Since 2023, Canada introduced the Multigenerational Home Renovation Tax Credit to help families adapt their homes for multigenerational living. This initiative reflects a growing trend as families choose to live together, combining resources and providing mutual support.
Key Features of the Tax Credit
- Amount: The tax credit allows for a 15% refundabl...
The Pros and Cons about Living on a Floathouse in Victoria BC
Posted on Apr 22, 2024 in Floathouse
Living on a floathouse in Victoria, BC, offers a unique lifestyle with its own set of advantages and challenges. A floathouse, also known as a floating home or houseboat, is a residential structure that is built on a floating platform instead of a traditional foundation on land. These homes are typically found in waterfront communities, such as mar...
The Impact of Heritage Designation & Guidelines on Victoria, BC Homes
Posted on Apr 22, 2024 in Heritage Homes
Heritage designation and guidelines play a crucial role in shaping the preservation and character of Victoria, BC homes. By providing a framework for conservation and stewardship, these measures ensure that the city's architectural heritage is protected for future generations. The effect of heritage designation and guidelines on Victoria homes is p...
The Challenges in Obtaining a Mortgage for a Floathouse?
Posted on Apr 22, 2024 in Floathouse
Securing a mortgage for a floathouse can be more complex than obtaining financing for a traditional land-based home due to several factors. Here's a breakdown of considerations regarding obtaining a mortgage for a floathouse:
1. Limited Lenders: Not all mortgage lenders are willing to finance floathouses. Some financial institutions may have specifi...
Advice for Sellers in Todays Market
Posted on Apr 21, 2024 in Sellers Info & Facts
In a buyer's market, where there are more properties for sale than there are buyers actively seeking homes, sellers need to be strategic and proactive to attract attention and secure a successful sale. Here's some advice for sellers in today's buyer market:
- Price Strategically: Pricing your home competitively is crucial in a buyer's market. Work wit...