Gillian Escalante

 

finance

Mortgage Rates and Calculator

First things first: Let’s get that mortgage approved!  This will ensure we are ready to make a quick move on a property when we find your perfect home.  I can refer you to a few very good mortgage brokers to help with this part of the process if necessary. Use this link to get an idea of how much mortgage you can afford.

Search

Let’s meet at my office to discuss exactly what you are looking for when it comes to your perfect home. We'll cover everything from location to square footage, restrictions and construction. I will arrange the showings and pick up or meet you for each appointment and open house tour.

Use the search tools to find your new home. Sign up for first alerts on new listings and price changes before they are released to the general public.

Make an Offer

Contract of Purchase and Sale

  • We will determine a price we are comfortable with and produce a contract of purchase and sale which will include closing dates, deposit amount and subject clauses to insure that the property is in great condition.
  • These will include Inspection, read and approve all documents, confirm financing, arrange insurance, a copy of the title search, review the property disclosure, etc.
    • Read more about components of an offer.
  • When we are all satisfied that all the subjects have been met, we will meet to sign removals. At this poing in the process we will arrange for and provide the deposit.
  • Multiple Offers - sometimes when in a competing situation you may have to consider a "no subjects" offer. Read more about how to win in a multiple offers situation.

Moving In

Transfering Title

  • Prior to completion we will need to arrange for a lawyer or notary, book movers and notify the strata property management.
  • Approximately 2 weeks before you move into your new home we will arrange to change your address with Canada post, change over cable, hydro, internet and phone, etc.
  • Final step will be meeting with the lawyer and then meeting with me at your new home to get the keys!
 
modern kitchen

Investing in Real Estate

Investing in Vancouver Real Estate can be a wise move

Rental Properites - According to the Investment Rental Property Survey by Blue Shore Financial, more than 40% of local Vancouverites plan to invest in rental properties to support their retirement incomve. The rental market will always be in high demand with vacancy rates hovering around 1 - 2 %. The Simon Fraser University, Brentwood and Highgate areas are all prime investment areas because of their convenient locations and price per square foot to rent per square foot ratio.

The goal is to achieve a monthly positive cash flow. For example:

  • One Bedroom Condo - $300,000
  • Monthly Mortgage Payment - $1,100
  • Rent per month - $1,500 to $1,800

Long Term Investments - Brentwood Park, Vancouver Heights and Willingdon Heights continue to show promising investment opportunities. These neighbourhoods are conveniently close to Vancouver and offer great communities and outstanding views.

 

COSTS

Above the 5 percent down there will be other costs when it comes to buying.

  • Inspection: Highly recommended.
    From $400 to $800.
  • Appraisal: If required for financing.
  • Lawyer or notary fees
  • Moving costs

Tax

  • Property transfer tax which is 1 percent on the first $200,000 and 2 percent on the balance.  If the home is new product or a new build there will be a Government sales tax of 5 percent. To calculate the taxes on your purchase click here.

Grants

The governments provides grants and rebates to property buyers. From the RRSP Home Buyers Plan, First Time Home Buyers, New Home Buyers, tax credits and more. View Grants & Rebates