Chris Estrada

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I have listed a new property at 15 16655 64TH AVE in Surrey.
Northview Golf Club, Ridgewood Estates. Updated 2227 sqft townhouse. Tastefully decorated 3 bedroom and den, plus flex room and 4 bath/pdr rms. Nothing to do here but move in and enjoy. Some of the features include gourmet kitchen, with gasstove top, built-in oven and microwave, double stainless steel sink with wrap around tile backsplash with under the cabinet lighting. Original hardwood floors throughout kitchen raised eating area and dining room. The super sized master bedroom has a sitting area with a gas fireplace off to one side. The Ensuite has deep soaker tub, a stand up shower and infloor heating. Amenities include high end clubhouse with pool table, foosball big screen TV, Exercise room, guest room, board room.
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I have listed a new property at D305 9838 WHALLEY BLVD in Surrey.
1 bedroom condo at the SKYTRAIN. A concrete building. Rain-screened. West facing unit. Looks out onto the completely private and treed courtyard. Great location in the building and building is situated nearest the access lane, not at the rear of the development. Lots of recent work done to the building, including rainscreening, new windows and new carpets in the common areas. Some features in the unit include Gas Fireplace with wood and tile mantle and tile hearth. Fan/light fixture over the dining room table, sunshine ceiling in the kitchen. Huge 20x8 deck with transparent glass surround. Insuite laundry and a walk-thru ensuite. 2 blocks to SFU and Central City Mall and T&T Market. Tons of restaurants and shops.
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Please visit our Open House at 43 11860 RIVER RD in Surrey.
Open House on Saturday, November 22, 2014 1:00 pm - 3:00 pm
End unit with a VIEW VIEW VIEW. Tastefully decorated. Just move in. Nothing to do here. Family room, and living room (with gas fireplace) on the main floor. MASTER BEDROOM ON THE MAIN FLOOR also. Open great room concept for the kitchen,family room and nook. Kitchen with lots of maple cupboards with under the cupboard lighting, pantry, double sink and garburator and stainless steel appliances, including 1 year old dishwasher, and tiled backsplash. En-suite has double stand up shower. Main bath has been upgraded to decorative tile tub surround etc. Double glass sliders to FENCED GRASSY BACKYARD. Double French doors to front 12x9 patio with a view of New Westminster. New top end Maytag steam washer and dryer set.
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Please visit our Open House at 15033 96TH AVE in Surrey.
Open House on Saturday, November 15, 2014 1:00 pm - 3:00 pm
First time on the market. Super clean, builders own home. 2X6 construction. Big bedrooms. Family room and living room on the main floor. Plenty of oak cupboard space in the tiled kitchen. Deep soaker tub and tub surround in main bathroom,accented with black tiled backsplash, and modern updated bathroom in the basement. Ceiling fan in the master bedroom. Built-in vacuum system. Approved wood stove. Great Guildford location. 5 blocks to Guildford mall, movie theatres and T&T Market. Bonaccord and Johnson Heights schools a few blocks away. Bus stop one block away.
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I have listed a new property at 43 11860 RIVER RD in Surrey.
End unit with a VIEW VIEW VIEW. Tastefully decorated. Just move in. Nothing to do here. Family room, and living room (with gas fireplace) on the main floor. MASTER BEDROOM ON THE MAIN FLOOR also. Open great room concept for the kitchen,family room and nook. Kitchen with lots of maple cupboards with under the cupboard lighting, pantry, double sink and garburator and stainless steel appliances, including 1 year old dishwasher, and tiled backsplash. En-suite has double stand up shower. Main bath has been upgraded to decorative tile tub surround etc. Double glass sliders to FENCED GRASSY BACKYARD. Double French doors to front 12x9 patio with a view of New Westminster. New top end Maytag steam washer and dryer set.
Read full post

Please visit our Open House at 43 11860 RIVER RD in Surrey.
Open House on Saturday, November 15, 2014 1:00 pm - 3:00 pm
End unit with a VIEW VIEW VIEW. Tastefully decorated. Just move in. Nothing to do here. Family room, and living room (with gas fireplace) on the main floor. MASTER BEDROOM ON THE MAIN FLOOR also. Open great room concept for the kitchen,family room and nook. Kitchen with lots of maple cupboards with under the cupboard lighting, pantry, double sink and garburator and stainless steel appliances, including 1 year old dishwasher, and tiled backsplash. En-suite has double stand up shower. Main bath has been upgraded to decorative tile tub surround etc. Double glass sliders to FENCED GRASSY BACKYARD. Double French doors to front 12x9 patio with a view of New Westminster. New top end Maytag steam washer and dryer set.
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How to Turn Your Home into an Investment Property

If you can afford not to sell your original home when you buy a new one, but keep it as an investment instead, you're in a great position. Atrina Kouroshnia explains what you need to do....

November 12, 2014


 




 
House mortgage investment

Most move-up buyers decide to sell their home and put the equity they’ve built up towards their new purchase. But others – those who can afford to – choose to retain their current residence as an investment property when they purchase a new home.

There are advantages to owning an investment property. For example, even though the mortgage interest on your primary residence isn’t tax deductible, you may be able to deduct interest on an investment loan. (Talk to your accountant about whether this applies to your situation and whether your finances can sustain multiple properties.)

If you choose to go this route, here’s what you need to know:

  • Down payment: In order to get the highest possible equity out of your current home, you might consider a cash-out refinance, where you take out equity from your existing property and use it as a down payment on your new home. In some cases, you might be able to stretch the amortization out to 30 or 35 years, lowering your monthly carry costs but resulting in more interest paid over the life of the loan.
    If you are unable to refinance because you don’t have enough equity in your current home, and you are putting less than 20 per cent down on your new home, you are required to get mortgage insurance from Genworth or Canada Guaranty because CMHC will not allow two insured mortgages.
    If the potential rental property was recently purchased as a high-ratio mortgage (meaning you put down less than 20 per cent), another lender and insurer may not feel comfortable lending on a second high-ratio mortgage, so it’s ideal to have at least 20 per cent equity in the first property.  
  • Income qualifications: Whether you refinance your old residence or not, you will still need to demonstrate enough income to carry both mortgages. Rental income can help, but it’s likely you won’t have a tenant until after you’ve closed on your new home. Some lenders only accept rent as income if that income is declared on your tax return and will ask for your T1 Generals to show the breakdown. However, some lenders are more lenient and will allow lease agreements or even a schedule A (estimated rent from an appraiser) if the place is rented without a lease or if the property is currently owner-occupied but will be rented once the clients move into their new home. It is important to note that contrary to popular misconceptions, no lender will use one hundred per cent of your rent as income.
    Beyond qualifying for a mortgage, you and your mortgage broker should run the numbers to make sure that you can realistically afford two mortgages. Hopefully your income has increased since you purchased the original property, but you want to give yourself a buffer in case the unexpected happens. Make sure your costs are covered – research market rental rates, account for all of your expenses and factor in vacancies, repairs and maintenance. If the equity and your monthly cash flow are too low, carrying two mortgages could be risky.
 

- See more at: http://www.rew.ca/news/how-to-turn-your-home-into-an-investment-property-1.1548567#sthash.SDB5aqWK.dpuf

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Please visit our Open House at 15033 96TH AVE in Surrey.
Open House on Saturday, November 8, 2014 1:00 pm - 3:00 pm
First time on the market. Super clean, builders own home. 2X6 construction. Big bedrooms. Family room and living room on the main floor. Plenty of oak cupboard space in the tiled kitchen. Deep soaker tub and tub surround in main bathroom,accented with black tiled backsplash, and modern updated bathroom in the basement. Ceiling fan in the master bedroom. Built-in vacuum system. Approved wood stove. Great Guildford location. 5 blocks to Guildford mall, movie theatres and T&T Market. Bonaccord and Johnson Heights schools a few blocks away. Bus stop one block away.
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I have listed a new property at 15033 96TH AVE in Surrey.
First time on the market. Super clean, builders own home. 2X6 construction. Big bedrooms. Family room and living room on the main floor. Plenty of oak cupboard space in the tiled kitchen. Deep soaker tub and tub surround in main bathroom,accented with black tiled backsplash, and modern updated bathroom in the basement. Ceiling fan in the master bedroom. Built-in vacuum system. Approved wood stove. Great Guildford location. 5 blocks to Guildford mall, movie theatres and T&T Market. Bonaccord and Johnson Heights schools a few blocks away. Bus stop one block away.
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How a Home Inspection Helps You
Whether you're considering buying a particular home, selling your current
property – or both – a home inspection can help.
A home inspection is an inspection by a qualified professional who takes a
close look at every aspect of a home – structure, wiring, plumbing, and
more – and identifies issues you may not have noticed yourself.
For example, a home inspection can reveal that a furnace will need to be
replaced soon, or that there is a water leak into the basement that needs to
be fixed.
You'll definitely want to get a professional home inspection before you buy a
particular property. That's why most offers to purchase a home are
conditional upon passing a home inspection. (The last thing you want is to
buy your dream home only to discover that the wiring needs to be updated!)
You may also want to get a home inspection on your own home before you
list it for sale. A certificate from a qualified professional that states that your
home passed inspection will make your property more attractive to buyers.
Many reputable home inspectors are members of a professional industry
association.