Brendan Connolly

Vancouver Real Estate: Westside, Eastside & Downtown

Residential Real Estate Consultant

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Liability for strata insurance deductibles

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Many strata owners do not know they may be personally liable to reimburse their strata corporation for its insurance deductible, the portion of the loss the insured must pay in an insurance claim, which can be many thousands of dollars. The British Columbia Law Institute's formidable committee of strata experts (the "Committee") recently recommended changes to the Strata Property Act, which would require most owners to insure themselves against this liability.1 The Committee … [Read more...] about Liability for strata insurance deductibles

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31 ways home buyers, sellers and owners can save money

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Are you looking to save money? We can help! Here's 31 ways BC home buyers, sellers, and owners can save money. 1. BC Property Transfer Tax (PTT) First-Time Home Buyers’ Program Qualifying first-time buyers may be exempt from paying the PTT of one per cent on the first $200,000 and two per cent on the remainder of the purchase price of a resale home priced up to $500,000. There is a proportional exemption for homes priced between $500,000 and $525,000. At $525,000 and above exemption is … [Read more...] about 31 ways home buyers, sellers and owners can save money

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Fall home maintenance checklist

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Vancouver's rainy season is almost upon us. The days are getting noticeably shorter, and the leaves are beginning to turn. Use this handy list to prepare your home for autumn weather and help prevent damage and losses. Do you need help finishing any lingering yard work or home repairs? Give me a call! I can recommend professionals in almost any home related field – like contractors, designers, landscape companies, junk removal services, handy people, and more. Out … [Read more...] about Fall home maintenance checklist

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Foreign buyer tax impact

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On August 1, 2016, the provincial government implemented an additional 15 per cent Property Transfer Tax on all residential sales transactions by foreign entities in Metro Vancouver. Home sales had already been cooling since spring 2016, and simply comparing a lower level of sales in August to the heights of the market in the early part of the year would dramatically overstate the impact. To analyze the impact in a more meaningful way, BCREA simulated how home sales in the Real Estate … [Read more...] about Foreign buyer tax impact

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Checklist for buying and selling property with an oil tank

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Is there an underground storage tank (UST)? Oil tank detection and removal is a big deal in North America. Whether you are in Vancouver or Virginia, local authorities will have regulations in place to unwind mistakes of the past and make this planet great again ;)  Virginia based Willard Environmental Group have some outstanding information on their website and kindly provided this handy checklist outlining what to look for if you are buying or selling a home that may contain an … [Read more...] about Checklist for buying and selling property with an oil tank

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Housing needs vs. housing wants

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As the Canadian real estate market becomes even more competitive,  buyers are having to make tough choices when it comes to choosing between their housing needs and wants. Before you lose out on purchasing that potential dream home, learn how to weigh your wish list against a reality check. Weigh it up [su_accordion] [su_spoiler title="Big yard vs. small yard" style="fancy"]If you harbour visions of hosting neighbourhood barbeques in a big backyard complete with a bubbling water … [Read more...] about Housing needs vs. housing wants

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Summer home maintenance checklist

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Summer is almost officially here and no doubt you can't wait to spend time outdoors. Before you head off for a well deserved holiday, take the time to check the following home maintenance tasks off your to-do list. Do you need help with yard work or home repairs? Give me a call! I can recommend professionals in almost any home related field – like contractors, designers, landscape companies, junk removal services, handy people, and more. Out in the … [Read more...] about Summer home maintenance checklist

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Countdown to closing. What you can expect to pay beyond the purchase price.

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If you’re buying a home, it’s important to understand all the costs involved in completing the deal, in addition to the price you’re paying for your new home. Here’s an overview. Mortgage application Lenders may charge a mortgage application fee, which will vary depending on the lending institution. If you are borrowing part of your down payment through the BC Home Owner Mortgage and Equity (HOME) Partnership Program, there will be … [Read more...] about Countdown to closing. What you can expect to pay beyond the purchase price.

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6 mistakes home buyers make

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Are you thinking about buying a home? Vancouver is experiencing a hot market, especially for condos and townhomes. There is a lot of competition among buyers so be well prepared before you find the home of your dreams. Here are a few of the mistakes that homebuyers make: Mistake #1. Not getting pre-qualified for a mortgage Before looking for your next home take the time to get pre-qualified by the bank or mortgage broker you choose. This can save you hours of searching for homes in the … [Read more...] about 6 mistakes home buyers make