My blog is here to not only keep you updated on my most recent listings, but also tips and tricks for buying or selling, and events happening around Edmonton.
Parkinson SuperWalk (Sep. 8)
Johnson MS Mountain Bike (Sep. 8 – 9)
Public Art Picnic (Sep. 9)
Kaleido Family Arts Festival (Sep. 14 – 16)
Edmonton Expo (Sep. 21 – 23)
Tibetan Bazaar (Sep. 22 – 23)
Edmonton International Film Festival (Sep. 27 – Oct. 6)
You are probably feeling excited and overwhelmed as you go through the steps in purchasing a new home especially if you are a first-time buyer. Going to an open house and checking out your potential home is an essential step. Don't worry, we have provided a list of potential home pitfalls that you should watch out for.
1. The roof
3. Basement walls
5. Take the temperature
6. Windows and doors
7. Check out the land
8. Home inspection
Dinosaurs Unearthed: Down to the Bone (August 8 – November 4)
Sri Lankan Folk Dance Workshop (August 17)
Edmonton Career Fair and Training Expo (August 21)
Edmonton Metaphysical Market (August 25 – 26)
Eats on 118 (August 29)
Who doesn’t dream of a home-away-from-home vacation property on a picturesque lakeside somewhere?
A recent survey shows that sales of recreational property are on the rise across country and the prices are expected to appreciate by nearly six per cent this year, particularly in Alberta and British Columbia. Alberta is leading the way on recreational property purchases, reaching prices of $535,885 on average.
Retirees and baby-boomers are the ones driving up vacation property purchases, flocking to lakes and streams, the seaside and mountaintops, with an eye towards retirement or a secondary home to raise children.
However, a spike down in the recreational property purchases was reported due to the newly introduced speculation taxes in British Columbia.
The tax targets property purchased by those who live primarily outside of the province and second homes, causing many existing homeowners to sell their secondary homes to avoid the steep fees. For instance, although there was an increase in sales in BC, the prices actually decreased by 2.8 per cent to just over $53,000 on average across the province.
The speculation tax also encouraged Albertans, one of largest cohorts of recreational buyers in BC, to look for properties elsewhere — like closer to home in their own province. Regions like Canmore, and west of Calgary in the Rocky Mountains were especially popular this year.
But the speculation tax is only part of the equation. Some areas in B.C., like the Cariboo, saw cabin prices soar by 25 per cent for lakefront properties. This is despite the new taxes and wildfires that devastated the region last summer.
Overall, the fluctuation on recreational homes are down to people’s appetite for certain type of properties and their prices. These trends are expected to continue in the upcoming years.
Outdoor Vintage and More Market (July 7)
Oh Snap! '90s Movie Marathon (July 12 – 15)
A festival that celebrates the diverse culture of the African continent.
One bite at a time, discover this city through food.
A great way to celebrate the outdoors and explore Elk Island National Park.
Greenify your home with indoor wall planters that are not only functional but stylish as well.
Condominiums typically have an overall insurance policy covering the building but it’s nonetheless still important for individual condo owners to look into their own policies. Shared insurance doesn’t cover personal belongings, for example, or other costs that an owner could incur in the case of an emergency.
Insurance is particularly noteworthy when it comes to special assessments, a levy or financial contribution that can be imposed on condo unit owners.
Usually, special assessments and other costs like strata fees are explained and disclosed at the time of purchase. In the case of an emergency though, a special levy can be announced — usually after a strata vote.
This money is collected in instances, for example, where the shared insurance policy doesn’t cover the full cost of the damage and can add up quickly for condo owners.
Loss of assessment coverage can mitigate this.
Types of insurance:
1. Title insurance
Title insurance protects buyers against several risks, including situations like this where special assessments crop up that were not disclosed at the time of purchase.
This kind of insurance covers the condo owners’ portion of any special assessment.
2. Special assessment insurance
Problems can come up where this is needed, for example, when a condominium corporation faces a crisis where its own insurance policy isn’t sufficient enough to cover the costs and so a levy is collected.
Special assessment insurance covers the owner in this case.
These are just two examples of insurance that can cover an unexpected special assessment. Dozens of other policies exist to cover personal items and other costs, sometimes even moving costs or unexpected living costs.
Other types of condo insurances
Know how you are covered by your insurance so you can fill in any gaps as needed for full protection and peace of mind.
Foodie Bike Tour (all summer)
An exhibition all about the fur trade and how it ties into Canada’s history.
Elves 2018 Golf Tournament fundraiser (June 7)
Edmonton Pride Festival (June 8 – 17)
Eats on 118 (June 13)
Freewill Shakespeare Festival (June 19 – July 15)
The Ultimate Race (June 23)
Your credit score affects many areas of your life from your spending abilities to your stress levels.
Missing a couple of payments on a credit card can dramatically drop your score, even after years of consistently meeting payment deadlines.
Your credit report tracks your spending history for the past six years and bad credit (FICO score) makes it nearly impossible to get financing for a home, car, credit card or even cell phone.
So if, for whatever reason, your score has plummeted — there’s a few things you can do to repair it.
1. Know your score
Finding out your credit score and history is the first step to knowing what went wrong and how to fix it.
You can get a copy from two main credit bureaus in Canada: Equifax (the most highly recognized) and Trans Union. If you send it in by mail, you can receive a copy for free or you can pay for a digital version for the benefit getting it faster.
2. Review your history
Make sure that there are no errors. It’s not likely but not impossible either.
Check that no late payments have been erroneously added to your account, all the charges made are accurate and that your payments went through correctly.
3. Start making payments
This may be easier said than done but it really is the key to improving your credit score.
Set up a reminder schedule and make sure you are paying off your debt bit by bit each month — and on time. If you want, you can set up payment reminders or automatic withdrawals.
The general rule is to keep debt within 65% of your credit limit. When it comes to paying off debt, start with the one with the highest interest rate first.
It may seem overwhelming but, chunk by chunk, it is possible to pay off debt if you stay consistent with it.
Be aware of the credit limit on your card and don’t go over that limit. Also keep in mind that having too many credit cards, especially newly open accounts, can also negatively impact your rating.
5. Pay off debt as soon as possible
Although it seems strange to go into debt to pay off debt, and contrary to the previous step, sometimes taking out a loan or borrowing money is the best way to save your credit score.
Balance what the interest looks like, how quickly you can pay it off and whether a loan will ease your credit history.
Sometimes, borrowing money with a low interest rate can help pay off high-interest credit card debt. Repaying debt on a credit card will help speed repairs to your credit history.
6. Take the initiative
Check your credit at least a few months before you need to make a big purchase or re-finance something so you have time to improve your score if needed. This will help give you the best interest rates when you most need them.
Lenders make a lot of their financing decisions by looking at your history. If you pay off debt the day before, you score and reputation is much less credible.
If you absolutely cannot make the minimum payment on your card, consider calling the lender and explaining the situation.
They may have advice or ways to help you; people often look favourably at those who reach out with honesty and initiative and are therefore more willing to help in return.
7. Protect your credit score
If you have bad credit, don’t panic — it’s easy enough to repair it by paying off the highest interest rates first and being consistent with debt management.
If you have good credit, make sure you protect it — set up payment reminders and don’t fall into debt if you can avoid it.
Keep old accounts, even if you are not using them very often, and don’t open too many accounts too soon because the age of an account positively impacts your score. Use fraud alert services and be careful of who you give your information to in order to avoid identify theft.
A rose by another name wouldn’t smell as sweet, as the old adage goes, and the same can be said about homes. A wall by any other colour just wouldn’t suffice.
Choosing the right shade for your brush can be tricky, and like anything in life, paints go through ups and downs of popularity from the burgundy oranges of the ‘70s to the darker tones of the ‘90s.
In order to decide on the most up-and-coming colours, experts delve into what’s popular in the world of fashion, arts, pop culture, and even the automotive industry to create a palate of popular paints.
Consumer Reports, a non-profit organization providing unbiased product ratings and reviews, took a look ahead at the hottest colours of 2018 to paint a home.
Using their research, we’ve compiled a list of the top five trends of paint for your home this year:
In The Moment (T18-15)
River Rapids (29B-3)
Check out these paint color trends you can definitely use for your home this year.
Last March, for the first time since 2001, a NDP government delivered a budget to British Columbians for the coming year.
The name of the game in the new budget is affordability — huge investments were promised in everything from childcare to healthcare to housing.
With pledges of money, though, comes a need to generate revenue to fund it. With that came a plethora of new regulations and taxes in the property market, outlined the budget.
The main take-aways for real estate in B.C. are:
1. Speculation Tax
This new annual tax will apply to foreign and domestic property owners who are not residents of B.C.
Some exemptions may be made for principal residences or long-term rental properties but it will include properties that are left vacant.
The tax will be introduced this fall and apply initially apply to homes in Metro Vancouver, the Fraser Valley and some other capital regional districts like Victoria, Nanaimo, and Kelowna.
It will start at tax rate of 0.5 per cent of the assessed value in 2018 and increase to 2 per cent of assessed value next year.
2. Enhanced Foreign Buyers Tax
Starting this month, the previously-introduced foreign buyers tax will be increased from 15 per cent to 20 per cent. It will extend to other areas across the province and no longer cover just Metro Vancouver.
3. Property Transfer Tax on Homes Above $3M
An additional 2 per cent property transfer tax will be applied to homes above $3 million, on top of the previous transfer taxes.
4. Pre-sale Condos
The government will be cracking down on the pre-sale condo market, requiring developers to collect and report comprehensive information and building build a database on pre-sale condo assignments.
5. First Time Buyer Program
6. Affordable Housing
The province promised $6 billion over the next decade to build 114,000 affordable homes units including modular, student and social housing.
1. Doors and Windows
The same is true for windows. Dual pane windows in particular are popular and, in addition to improving attractiveness, can cut heating costs in the winter.
3. Kitchen Remodel
If major renovations are not on your to-do list, consider smaller upgrades: new appliances, a fresh coat of paint on the cupboards or more storage space.
4. Bathroom Remodel
5. Paint and Other Small Tasks
A fresh coat of paint, particularly in a neutral colour like cream or pale yellow, can immediately brighten a room and make a home appear much more current.