Owen Bigland blogs about how there are 3 different types of value that are attached to any piece of residential real estate. Appraised Value: This is done by your bank or lending institution if you are borrowing money via a mortgage to purchase the home. The banks want to make sure that the house you are buying and borrowing money for is actually worth what you are paying. Occasionally deals can collapse when someone buys an overpriced property and the bank appraises it for less than what was paid. As a result they will usually require the borrower to increase their down payment if they want to secure the mortgage and close the deal. Assessed Value: This is done by the Province (BC Assessment), they estimate the v ...

Owen Bigland blogs about how major repairs, maintenance and upgrades to your Vancouver condo will be coming out of your pocket via a special assessment. Some home owners seem to think that's what the contingency reserve fund is for. I'm here to tell you that it rarely is. You might vote to use some funds to help offset the cost of the repair or upgrade but chances are the majority of the funds will be paid by you based on your unit entitlement via a special assessment.Special levy's are NOT unusual even on newer buildings. Major components are going to need upgrading or repair on a regular basis. Some are minor like painting the walls in the hallway or lobby, upgrading some landscaping or lighting. Others are ma ...

Owen blogs about a question he is asked quite frequently. Why is it so damn expensive to by a home in the Lower Mainland? There are many things that contribute to our high prices here in Vancouver but the 2 main ones are no surprise ...it's simply boils down to supply and demand. Demand is high and getting higher all the time. Mainland China buyers love Vancouver, San Francisco and LA. The secret about living on the West coast is out. This is simply where people from all over the country, North America and even the world want to live. It's not a dream many people have to one day live in Winnipeg, which is why you can buy a detached home there for $200,000. On the other side of the equation is supply. In the Lowe ...

We are proud to announce that this Feb 12th, 2:00 PM to 4:00 PM we will be hosting an Open House at 8880 NO 1 Road in the Boyd Park neighborhood, Richmond. This is an opportunity to visit this excellent Condo for sale in beautiful Boyd Park.Please come with any questions you may have. In the meantime you can take a virtual tour of this Boyd Park Condo for sale.As always please do not hesitate to give me a call at 604 889-1118 if I can answer any questions before the open house, or if you would like to book a private showing.Owen BiglandMacdonald Westmar

We are proud to announce that this Feb 12th, 2:00 PM to 4:00 PM we will be hosting an Open House at 8860 NO 1 Road in the Boyd Park neighborhood, Richmond. This is an opportunity to visit this excellent Condo for sale in beautiful Boyd Park.Please come with any questions you may have. In the meantime you can take a virtual tour of this Boyd Park Condo for sale.As always please do not hesitate to give me a call at 604 889-1118 if I can answer any questions before the open house, or if you would like to book a private showing.Owen BiglandMacdonald Westmar

I just finished uploading this Condo for sale, 201 8740 NO 1 Road, Richmond, British Columbia"Apple Greene" bright & spacious 1 bedroom + Den. (Den easily converts to 2nd bedroom). New phase featuring hook-up for insuite laundry, 1.5 bathrooms. 1118 sq ft including the enclosed balcony. Loads of storage space plus a locker. Undercover parking. Great rec. facilities with indoor & outdoor swimming pools and more. Near Seafair Shopping Centre and transit.

I just finished uploading this Condo for sale, 229 8860 NO 1 Road, Richmond, British Columbia"Apple Greene" 2 bedroom 2 bathroom apartment. Freshly painted and new carpet throughout. Over 1030 sq ft including the open balcony. in suite storage plus a locker space. Undercover parking. Great complex with indoor and outdoor swimming pools. Seafair shopping center across the road and transit at the door, heat, water and sewer included in the maintenance fee.

Here's some great advice from an online financial magazine caled Moneyning. It reccommends that if your going to buy a home or condo make sure you plan on staying for at least 5 years or more.  With all the  up front costs and commissions assosiated with buying and selling you need at least 5 years via appreciation to get that money back. One of the great things about Real estate is that it's forgiving if you keep it. Here's a link to the article.http://moneyning.com/housing/the-five-year-rule-for-buying-a-house/

Vancouver Realtor Owen Bigland blogs about one of the best ways for a first time home buyer to get into their first home. The RRSP home buyers plan allows you to borrow up to $25,000 per person and up to $50,000 per couple interest free and penalty free from your RRSP. They also give you an initial grace period of the year in which the withdrawal was made plus 1 more full calendar year before you need to start paying it back. Then you must pay it back over the next 15 years by depositing 1/15th of the amount withdrawn annually to your RRSP. Prepayments are allowed at anytime without penalty.   FIRST TIME BUYER: You must be a first time home buyer or you (or your spouse or common law spouse) must not have owned a home t ...