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Is It wise for you to downsize?

Downsizing is something that a lot of people consider later in life. When you’re younger and have a family at home, buying a large home with a backyard makes sense, but later on, for various reasons, selling your home and downsizing to something smaller might make sense for you. If you’re thinking about it, here are some things to consider to determine if it’s wise for you to downsize.

Why are you really moving?

To figure out what the best downsizing decision is for you, the first step is to really think about why you’re thinking about moving and downsizing in the first place. Is it because you want to travel more? Is it because your current house is too big with too many empty rooms? Is it because you no longer want to do the upkeep of mowing the lawn or shovelling the snow? Once you can answer the ‘why’, you can figure out the ‘what’.

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Selling or Just Curious?

Five Uses for your home’s market value report

I’m often contacted by home sellers who want to know the value of their home because it’s vital when they go to market. However, there are other uses for a market value report whether you’re selling or staying.

Here are 5 examples:

  1. Want to renovate?
    The report can help you determine which projects will increase your home’s value the most.
  2. Why are nearby homes selling? And, for how much?
    You can see the “for sale” and “sold” signs up, but your report will give you an idea of market prices and nearby home features.
  3. What types of homes are buyers looking for today?
    The report will help you time your sale by providing insight into current home sales.
  4. Is it the right time to move up or downsize?
    See how markets are trending to get the best deal on a new home and your own sale
  5. Do I have equity that I can enjoy?
    The report can show you refinancing opportunities. I’m happy to provide home value assessment reports at no cost: it’s my job to know your market.

New Listing C1 238 East 10th Ave, Vancouver

Unique Loft space in Mount Pleasant with 1 bedroom & 2 bathrooms. One of two top level end units in this solid concrete building. Open floor plan that utilizes split-levels to separate rooms. Kitchen is spacious with oak and lacquer cabinets, laminate flooring throughout, granite countertops & stainless steel appliances. QueenSituated on a quiet bike designated street, this unit boasts 15 ft ceilings, Insuite Laundry, New hot water tank (2016) and built in storage units. Less than one block to the heart of Main Street, close to transit, cafes, shops, and community centre. Pet & rental friendly, low condo fees plus work/live zoning with significant tax deductions. Priced at $529,000.

Open Houses

Thursday July 20th 6-7pm, Saturday July 22nd 2-4pm, Sunday July 23rd 2-4pm

 

 

New Listing 18 222 East 5th St, North Vancouver

One of Lower Lonsdale’s most sought after townhome complexes. Gorgeous, private and completely move in ready! This south facing home has a separate entrance with 2 sunny patios in the front and back. Great open floor plan with tons of storage. Located in the coveted inner courtyard, this three bedroom townhouse is a quiet oasis, perfect for anyone seeking a relaxing, peaceful home. 2 side by side parking stalls in the secure garage and a full crawl space. Short stroll to the Lonsdale Quay, Shopping, Transit and entertainment.

Sneak Peek Thursday July 13th 6-7pm and Open Houses Saturday/ Sunday 2-4pm.

Virtual Tour: http://tours.bcfloorplans.com/822014

Price: $1,075,000

Listed by Maureen Seguin Personal Real Estate Corporation Century 21 In Town Realty

New Listing 2161 Mary Hill Rd, Port Coquitlam

Beautiful, Bright and Spacious, this family home is a gem! East facing living room with vaulted ceilings, large windows, fireplace and adjoining dining room. Updated Kitchen with new stainless steel appliances and neighbouring family room with fireplace. Fully fenced west facing yard that backs onto Central Elementary School. Lower level consists of a 2 bedroom suite with long term tenants, a spacious laundry room and another bedroom/office. Updated include; New flooring, New hot water tank, new roof, new blinds, new upstairs bathrooms and pot lights throughout the upstairs. First showing at Open house; Saturday July 8th 12-2pm and Sunday July 9th 2:30-4:30pm.

Link to Virtual Tour: http://real.vision/2161-mary-hill-rd-port-coquitlam

 

 

 

 

Listed by Maureen Seguin Personal Real Estate Corporation Century 21 In Town Realty

New Listing – 110 1948 Coquitlam Ave

Bright and Spacious ground floor suite priced for under $200,000!! This home boasts an efficient floor plan with a beautiful updated kitchen, King- sized bedroom & a large sunny north facing patio. Freshly painted and MOVE in Ready!! EXCELLENT investment/holding property as there are no restrictions on rentals. Close to shopping, west coast express and the new evergreen line.

Open House Saturday 230- 430pm and Sunday 12-2pm.

Listed by Maureen Seguin Personal Real Estate Corporation Century 21 In Town Realty

9 Ways to Find the Perfect Tenant for your Investment Property

Have an investment property and need to find tenants? You’ll probably want to hire a real estate agent. In Vancouver, the rental market is very competitive right now, and if you use a real estate agent, you’ll likely get a better, more qualified tenant for your investment property.

1. Get income verified.

This is tricky because sometimes, in order to get the rental, some dishonest tenants write their own letter of employment. So, always ask for a pay stub no older than 30 days along with bank statements showing their pay deposits. If they are self-employed, notice of assessments for the last 2 years will do, or ask for bank statements showing their overall monthly cashflow.

2. Get a full credit report, not just their credit score.

Just getting a credit score number isn’t enough. Always get a full credit report done so you have a full understanding of how healthy a tenant’s finances are.

3. Get their ID verified

I always ask to see their driver’s license, and get a photocopy of it. Believe it or not, tenants try to fake their identity as part of the application process just to get into a rental unit.

4. Get 10 post dated cheques.

There’s nothing worse than having to chase down a tenant for rent each month. It’s annoying, and sometimes a tenant may even end up giving you a cheque once the rent is actually past due. It’s easier for everyone involved if you have all of the post-dated cheques written and signed up front.

5. Get references.

Aways ask for at least 3 references, and I call each one of them. You want to know how they were as a tenant, if they paid their rent on time, if they kept the property clean, and obeyed the rules that were set in place in the agreement, like not smoking and obeying any rules around having pets.

6. Look at their social profiles.

It might seem a little creepy, but someone’s social profile can tell you a lot about them and how they’ll treat the unit they’re renting. A professional profile on Linkedin with recommendations? Probably a qualified tenant. Hundreds of pictures of them partying? I’d continue to look elsewhere.

7. Get a pet deposit

If they have pets, then always get a pet deposit. Even if the pet is small, they can still do a lot of damage to floors and carpeting over a long period of time.

8. Get a security deposit for the key fob, if the unit is a condo.

People lose things, and it’s definitely possible that a tenant would lose a fob. They aren’t cheap to replace, so it’s best if you get a deposit in case it does get lost.

9. Get proof of tenant insurance.

I always want to know that the tenant has their content of the unit insured. Things can happen, and it’s important to know that everything is protected in case something does.

New Listing 310 12207 224 St, Maple Ridge

Centrally located with Mountain Views! Corner suite, spacious 2 bedroom, 2 bathroom boasting over 1000sqft. Open Kitchen, large dining room and living area with gas fireplace. Serene private covered patio with lots of sun. Well maintained building with a healthy contingency fund and no upcoming assessments. Pets allowed with height and size restrictions and no rentals allowed.

Open Houses Saturday June 17  and Sunday June 18 2-4pm or call to book your own private showing.

Listed by Maureen Seguin | Century 21 In Town Realty

Price: $309,000