Real estate investing has long been considered a smart long-term strategy for building wealth. While it may not offer the quick returns of some other investment options, such as stocks or cryptocurrency, real estate has the potential to provide steady income and substantial appreciation over time. In this blog, we'll explore why real estate investing is a smart long-term strategy. Appreciation One of the biggest advantages of real estate investing is appreciation. Appreciation refers to the increase in value of a property over time. In most markets, real estate tends to appreciate in value over the long-term. This means that if you invest in a property today, it's likely that it will be worth more in 10, 20, or 30 years. While there may be ups and downs in the short-term, over the long-term, real estate has historically proven to be a reliable investment in terms of appreciation. Cash Flow Another advantage of real estate investing is cash flow. Cash flow refers to the money you receive from your investment property after expenses such as mortgage payments, taxes, and maintenance have been paid. If you invest in a rental property, for example, you can generate cash flow by renting it out to tenants. Over time, as the property appreciates in value, your cash flow may also increase. This can provide a reliable source of income over the long-term. Diversification Real estate investing can also provide diversification to your investment portfolio. By diversifying your portfolio, you spread your risk across different asset classes, which can help reduce the impact of any one investment on your overall portfolio. Real estate can provide diversification because it often has a low correlation with other asset classes such as stocks and bonds. This means that real estate may perform well even when other asset classes are not. Tax Benefits Real estate investing also offers tax benefits. For example, you may be able to deduct expenses such as mortgage interest, property taxes, and depreciation on your rental property. This can reduce your taxable income and help you save money on your taxes. Additionally, if you hold your investment property for a certain period of time, you may be able to take advantage of capital gains tax rates, which are typically lower than ordinary income tax rates. Inflation Hedge Finally, real estate can also serve as an inflation hedge. Inflation is the gradual increase in prices over time, which can erode the value of your money. Real estate, however, tends to appreciate in value at a rate that keeps up with inflation. This means that your investment in real estate can help protect your purchasing power over the long-term. In conclusion, real estate investing can be a smart long-term strategy for building wealth. By investing in real estate, you can benefit from appreciation, cash flow, diversification, tax benefits, and an inflation hedge. While it may not offer the quick returns of some other investment options, real estate can provide a reliable source of income and substantial appreciation over time.

Selling your home can be a daunting task, especially if you're looking for a quick sale. However, with the right strategies in place, you can increase your chances of a speedy sale. Here are the top 10 tips for selling your home quickly: 1. Declutter and Depersonalize: A cluttered home makes it difficult for potential buyers to envision themselves living in the space. Decluttering and depersonalizing your home can help buyers see the potential of the space and make it easier for them to imagine themselves living there. 2. Price It Right: Pricing your home right is crucial to a quick sale. Your real estate agent can help you determine the fair market value of your home and set a competitive price. 3. Enhance Curb Appeal: First impressions matter a lot when it comes to selling your home. Make sure your home's exterior looks clean, well-maintained, and inviting. 4. Consider Staging: Staging your home can help potential buyers see the potential of the space and help them imagine themselves living there. Consider hiring a professional stager to showcase your home's best features. 5. Make Necessary Repairs: Fix any noticeable repairs before listing your home. Buyers are not likely to make an offer if they see that your home needs major repairs. 6. Hire a Professional Photographer: Professional photos can make your home look more appealing online, which is where most home buyers start their search. 7. Be Flexible with Showings: Make your home available for showings, even if it's inconvenient for you. The more potential buyers that see your home, the higher the chance of a quick sale. 8. Utilize Social Media: Share your listing on social media to reach a wider audience. Your friends and family might know someone looking for a home like yours. 9. Offer Incentives: Consider offering incentives to potential buyers, such as a home warranty, to sweeten the deal. 10. Work with a Trusted Real Estate Agent: A trusted real estate agent can guide you through the selling process and help you make informed decisions that lead to a quick sale. In conclusion, selling your home quickly requires a combination of factors, including pricing it right, enhancing curb appeal, decluttering, and working with a trusted real estate agent. By following these top 10 tips, you'll increase your chances of a successful sale in no time.

Spring is one of the best seasons for selling your home. With the weather getting warmer and the flowers blooming, potential buyers are more likely to come out and take a look at properties. Here are five tips to help you sell your home this spring:1. Spruce up your curb appeal: First impressions are everything, and your home's curb appeal is the first thing a potential buyer will see. Make sure your lawn is mowed, bushes are trimmed, and the exterior of your home is clean and fresh. Add some flowers or potted plants to add a pop of color.2. Declutter and depersonalize: Buyers want to envision themselves living in your home, so remove any personal items, such as family photos, and declutter each room. This will make your home look more spacious and inviting.3. Make minor repairs: Fix any minor issues, such as leaky faucets, torn screens, or squeaky doors. These small repairs can make a big difference in how your home is perceived.4. Price your home competitively: Research the local market and price your home competitively. Overpricing can turn off potential buyers, while underpricing can leave money on the table. Work with a real estate agent to determine the best price for your home.5. Stage your home: Staging your home can help it sell faster and for a higher price. Consider hiring a professional stager to help you showcase your home's best features and create an inviting atmosphere.By following these tips, you can help your home stand out in the spring real estate market and attract potential buyers. Don't forget to work with an experienced real estate agent who can guide you through the selling process and help you achieve your goals.

For all you sellers, selling can definitely be an intimidating process. There are many potential mistakes one can make, but no worries because I am here to help you catch them! Here are ten mistakes to AVOID when selling your home!  1) Do not spend big money on improvements! That does not mean to avoid trying to set yourself in a good competing stand point in comparison to other sellers. However, you do not want to over spend. To know if your investment would be worth it, look at how much it would cost to do the repairs in relation to how much you would get back! If spending 10k will get you back 80k, it’s a no brainer! Go for it! 2) Landscaping Do not underestimate the power of landscaping! This can really impact and improve a potential buyer’s first impression of your house! Landscaping comes at a lower cost too! Get some fresh mulch, your trees trimmed, get some weeds removed, or even spend a weekend doing some gardening work yourself. Also, if you know that your property looks the best in the summer but you are planning on selling in the winter, make sure to take photos of the property during its prime time! 3) Do not ask more for your home than it’s worth Some people think “okay, I’ve spent a lot on improving the house, now I need to ask for more”. This however, is one of the biggest mistakes one can make. Buyers tend to search for properties in a block of pricing, so if you have priced yourself outside of that range, you may not even be seen by sellers. 4) Do not forget odors! Odor is a very big deal. I have listed homes that have pets, and I dearly love them myself! However, you must make sure to not offend any potential buyers who are not so pet loving (e.g. those with pet allergies). If the estate gets locked up for a while, there can be some stale odors. If someone smokes, this is a big thing too. You can rent ozone machines to help with the smell. Some think that putting in air fresheners will be helpful, but some people can be offended by added perfumes as well. So, make sure to be conscious of the odor! 5) Do not leave clutter in your closet! A lot of people think that you can shove everything into the closet and then no one will know. But buyers will look into your closet, and the organization. If everything is just stuffed into a closet, it may also give the impression that there is not enough space. They also look into your fridge, not just to check out the appliance, but also to just see what type of people are living there. 6) Make sure to catch all the details When buyers come in to look at your home, they are looking at the details. Make sure your light fixtures work, your appliances look sharp, your doors are not hanging off the hinges, and that the windows are clean. You can easily take a weekend off to go around the house and paint your baseboards or recaulk the bathtub. This makes a big difference, especially since buyers tend to think that things cost 3X more than it actually does to repair. 7) Do not decorate with political affiliations, family portraits, or bear rugs! I once had strictly vegan clients who were very passionate about the ethical treatment of animals, and we went to visit a seller who was a hunter. The seller’s house had animal heads hung up everywhere on the walls and the fireplace, and needless to say, the clients were mortified. So be careful with what type of personality you give the house with your decorations. decorate with a neutral palette!   Now on to some more surprising ones! 8) Do not add a urinal to your bathroom upgrade I have not seen many urinals in the houses I have shown, but if you are thinking of putting one in, DON’T! Apparently, a urinal will not provide much return on your investment.  9) Do not add a sunroom/do not close your deck Sunrooms require a lot of maintenance, risks leaks, and means you lose a lot of outdoor space. If you are thinking of adding a sunroom to enhance your square footage, this is not a good idea for resale. A deck or patio is much better! 10) Do not get too trendy Maybe you want to get hip by following the latest brightest colors! You can paint and stage and spruce up some things, but it is important to not always go with the hottest paint colors for the time. You want the house to act like a blank canvas for the buyer to envision their own painting on! If you want any additional DIY tips for sprucing up your house, feel free to contact me! Send an email to natasha@vancityhometeam.com 

There are slow property markets all over the world. However, that’s not really a bad thing. Here’s how to outperform slow markets!  YOU WANT TO OUT PERFORM THE AVERAGEYou are buying an independent property, not the market, so buy “investment grade” properties. These are properties that are owner occupied, and will have their price driven up based on emotional investment. These are the ones that will make you the most money. How to spot “investment grade” properties: You want to buy a property that is at the right stage of the property cycle, so know where you are in the property cycle. Also look at the big picture and see how the economy is performing. You want to look at the right state in which you should invest. Look for the one which will deliver economic growth, and as a result, job growth and population growth. Capital cities are an area that will experience lots of growth, so choose a capital city! Once you have chosen a capital city to invest in, choose a nice suburb within the city. Look at its history, and see if it has outperformed the averages. Look for the right property within the suburb you have chosen! Do not just look for just cheap property, look for something worth a long-term investment. DO NOT TRY TO OUTSMART THE MARKETYou may think “Oh look a cheap area to buy, lets focus on them, I hear it's going to boom”. I’m guilty of this myself, but you don’t want to try and outsmart. Pick something that you know is solid like... INVEST IN THE INNER/MIDDLE RINGHow do you spot the inner middle ring? This zone is close to the city center where it is a bit more expensive but closer to the resident’s workplaces. This zone is also where residents have a higher income bracket, so they don’t mind upgrading to a more premier property. This area also tends to have lifestyle attributes, and is usually downtown in city centers. “FREE ADVICE” One of the worst things that can happen to a new investor is for everything to go right. If you make $1,00,000 on your first investment; you're going to think that’s the way it always is. However, that is a lucky investment, and these people gain a false impression of the business.So when the market is flat, make sure to look to people with solid experience and investments without influence from fluctuation. Do not just take “free advice” from a lucky first-time investor.  HORIZON MATTERS If you look down when on a boat, you will get seasick. But if you focus on the horizon instead, you won’t get seasick! In the same way, investments take a long time, and people may think that just because real estate fluctuates that you can easily jump in and jump out. However, investment strategies should be long-term (~10 years). Ignore the short-term market fluctuations. Keep your eye on the horizon! If you have a strategic investment, fluctuations are no problem for you.   STRATEGIES Focus on properties that.... appeal to the owner. Also, owner occupied areas retain their value and its value is pushed up automatically. Are below intrinsic value. Avoid new builds as they often come at a premium price.  has a high land to asset ratio. Take a look at tax assessments and how much value is allotted to the land. are in areas with a history of strong capital growth, and are continuing to outperform the averages. have something special and more rare are a place where you can manufacture capital growth through refurbishment and renovations. If you want to upgrade the property, you can make some money in a certain area based on those improvements.  are in a good location. 80% of your property’s performance is based on location! It is tempting to think there are new areas that will boom, but why would you look at something that MIGHT work instead of one that has ALWAYS worked?  Also... know your finances, make smart decisions, and make sure you have a line of credit for when you don’t have rental income or need to do renovations.  never set it and forget it. We think we can just set everything and then forget it, and it will be automated. However, if you really want to have an investment, you have to manage, modify, and get rid of what is not working (no point in hanging onto a property that’s not working well).   The Bottom Line:  Successful property investment doesn’t have much to do with the market. If you follow a proven strategy, you can’t really lose! With a strategy, you are not relying on an upswing of the market. Just keep your eye on the horizon and you’ll come out on top!

We are talking all about the upcoming millennial buyers and what they're looking for in a home. So if you're thinking about selling your home and you wanna appeal to one of these buyers, which you should because there's going to be a lot of them, here are the five features that millennial buyers are looking for in a new home.  Millennial buyers want their homes to be social media ready. Now, I don't mean social media ready that they wanna be on social media and they want to have good Wi-Fi, which is maybe what you were thinking and I thought so too, but it actually means that they want it to be attractive enough for social media. They want their place to look cool because most people are gonna be posting photos of their Insta-worthy digs and 47% say that they use social media to decide on what changes to make to their home and asking their friends and people out there what tips they might have for upgrading. So it's gotta be social media ready.  Urban amenities and quick commuting options. So contrary to popular belief, millennials actually are not killing the suburbs. They're just demanding more from them. So neighborhoods that offer reputable schools, access to public transit, daily conveniences like Starbucks on the corner, those are all super important to the 25 to 39 year olds.  They require homes that are pet friendly. Millennials love their fur babies. So a whopping 77% of recent millennial buyers own at least one pet, if not two, and it actually does shape their shopping preferences. They need a fenced small yard or patio, and proximity to dog parks. Central vacuum systems are great for picking up the hair. I have fur babies, so I know I love my central vac. And so this could win over a pet lover buyer.  Entertaining.  We haven't been doing much of that lately but let me tell you, they frequently entertain and we need a space for entertaining. HGTV "House Hunters," which, by the way, millennials love that show and so do I, seems to have done a poll that 89% of millennial buyers say that they plan to entertain or host a holiday gathering in their new homes, beating out the Gen Xs and the baby boomers. The word out is that with their youthful optimism, they're gonna be hosting Thanksgiving dinner for sure in their new place, and you'll see it on social media. Luxurious Features and if they have a bigger budget, because we know that in the Greater Vancouver area, you have to have a pretty big budget to get into the market, but their dream home not only includes a state-of-the-art kitchen but maybe an outdoor pool in the complex or even an indoor pool or a hot tub and his-and-hers bathrooms, or at least sinks. If you can't get a separate bathroom altogether then at least you can get a sink. The difference between millennials wanting a his-or-her bathroom and the Gen X crowd who wanted the media room and the baby boomers who want the three-car garage, millennial buyers, all they want are two sinks. I don't know if that's a toothpaste thing or what that is but it's definitely important. So if you don't have two sinks in your bathroom or two bathrooms for them, maybe you can find a way to alter it. So hopefully you found these tips helpful. Obviously you can't change the location of your place but you can definitely make some modifications to appeal to the millennial buyer and I hope that you found this Tuesday tip to be helpful. If you want an idea of what your property valued at, please reach out to us. You can call me any time at 604-862-7619 or email us at natasha@vancityhometeam.com. And if you just want to say hi, please do that too.

Typically, a new buyer will enter the market and buy a one-bedroom condo because that is what they can afford and they are still single. However, as they get into relationships and their family grows, they start considering upgrading to a bigger unit. This itch to upgrade tends to come around the 3-year mark. Many also assume that buying is ALWAYS the right thing to do instead of renting, but that’s not always the case.  With this three-year itch in mind, I will cover how you lose money when you get this itch! So, the 5-year rule means you should intend to stay in your purchased property for at least five years. Here is why: CLOSING COSTS (E.g. legal fees, disbursements) You would also do an adjustment and a lawyer or notary would handle the discharge from your name on your title. These charges can go up to a few thousand dollars $$$. MORTGAGE COSTS When people take out a mortgage, the longer you term, the better your rate will be. If you have a 5-year mortgage, you may have signed the contract without reading the fine print that says breaking the mortgage before a five-year term results in a 3-month penalty.  So, when you decide to move after 3 years, you have to pay this penalty. Though your mortgage decreases interest over the years as you stay longer in the property, the interest penalty is quite a big chunk of money nonetheless. HOW TO DEFEAT THE 5 YEAR RULE Usually a mortgage broker will give you the top end of what you can afford, but that does not mean you should buy in the top end of your range. If possible, in your current market environment, buy in the lower range! That way, you can save more money, and use that saved money to make extra payments on your mortgage. So, if you sell in three years, you can come out a little more ahead, and defeat the 5-year rule! Turn the property into a rental! Some buy and intend to stay, but then circumstances change and they cannot stay a full five years anymore. So, if you’re buying a condo, make sure that the condo is rentable (check rules, regulations, and strata bylaws), and if you’re buying a house, make sure you have a good neighborhood and can get rent pay high enough to cover a good chunk of your mortgage rate.   HERE IS A GO-TO FORMULA TO DECIDE IF YOU SHOULD RENT OR BUY Let's pretend you already own a property. Now, add up the following:  the commission the purchase price any maintenance you’ve done on the property any interest on the mortgage you have already paid the investment gain on the down payment any property taxes closing costs Finally, subtract the selling price. You should now have either a positive or negative number. If its lower than what you would have paid for rent, go for it! BUY! But if you end up spending more for buying than renting, and you’re only there for three years, just rent! On the flipside, sometimes people do plan to live there for five years, but circumstances change and they have to sell quick! So here is... HOW TO SELL FAST Get an Appraisal It's not just getting a realtor to come out and give an appraisal, there are actual appraisal companies that banks use to appraise properties. Realtors use market evaluation, and that’s based on market statistics ONLY. Appraisers tend to go more in detail and are more conservative with their appraisals. You may ask, why would you want to be conservative? WELL, you want to... Sell BELOW Market Value  In short, to sell quick, you need an attractive price, which means a lower price. Declutter  We have some pretty small condos in Vancouver. Make sure to show someone the potential of the rooms, by making it look airy and clean. No cluttering! Pick an Experienced Agent Especially if you are anxious to sell in our difficult real estate market. People sometimes pick agents with similar listings to yours. DO NOT DO THIS! It is very difficult for an agent to push people to look specifically at your listing when they have another five identical listings! Pick an agent that will treat your property like the unique property it is!  Give the Agent More Commission When we’re in a tough market, its supernatural to start holding back and wanting to save money. DON’T DO IT! Your property is your biggest asset, you want to make as much as you can! So make sure to invest and further incentivize the person marketing it with commission (note that the average commission is 5-6%)!

19 years ago, when I first got into real estate, I encountered a “for sale by owner contest”. It was a contest for whomever could list as many for sale buy homes as possible and convert them to list with an agent. I actually won that contest within my first few months doing real estate. Why should for sale buy owners want to sell by themselves? The number one reason is saving on commission. Commission varies but is usually on average, if you were selling a $400k house, you would be paying about $24k in commission. $24k, when you are negotiating, comes out of your equity. Your equity is the left-over amount after you have payed the bank if you have a mortgage on your house. So, if your house is worth $400k and you have a $250k mortgage, your net equity is $150k. Then you’re the $24k commission that will come off of that, so you are netting $196k. If you have mortgage penalties closing costs, or any repairs found by building inspection by the buyers on top of the commission, this will eat at your net profit. So that is big reason why someone would try to sell it themselves. Here are the steps on how to sell your home yourself: 1) DETERMINE THE MARKET VALUE This is the most important step, so you have to do this right! If you price too low, you’ll lose profit and if you price too high, your property will sit on the market. It is super important for you to get it assessed properly, so here are three options. - For research, you can use online sites! I have two sites with free online market evaluations, 1 for New Westminster and 1 for Vancouver and the rest of the tri cities. If you are from US, I recommend Trulia.com and Zillow. For those in Canada, I recommend Zolo.ca and Evalue. - Another option is to get a realtor in. Make sure you tell them that you are planning to sell the property yourself in advance. Or else, they may try to get the listing and overvalue the property just to get your business. You want to avoid this situation to ensure you get an accurate number. - A final option is hiring an appraisal company. Banks usually use the top companies, so if you want to use those, you can ask for recommendation from a mortgage broker who works at a bank. This usually costs about $300-$500, and ensures an accurate appraisal. 2) PREPARING YOUR HOUSE FOR SALE Start simply by slowly walking through your home and looking at it from the perspective of a potential buyer. Be as critical as possible. This is difficult for most sellers because they do not want to admit there are faults with their home but the chances are that a buyer would point those faults out.  Get rid of things that are negative to a buyer like clutter and smells. Do little repairs to things like windows, patio slides, wiggly doorknobs, and broken light switches. The little things count!  If don’t have time to do this, hire a staging company or handyman to come and do a list of things. Staging companies usually have someone that can do minor repairs. 3) MARKETING You want to start out with a good sign on your lawn. Something substantial, not flimsy. Maybe 2-3 signs on the yard because you want to make sure you stand out! Have flyers and brochures that include your address and crucial info that points out pros of that house. Photos of the property are essential to helping your audience visualize the home, so make sure to have as many as you can.  When marketing online, you are selling yourself, so you won't be getting the MLS presence. However, you can use many good platforms like the Facebook market place, craigslist, and you can even work with agents by having them do exclusive marketing for you.  Lastly, host some open houses to get some excitement about your house! Offer some refreshments and invite some neighbors. Some don’t like to invite their neighbors, but keep in mind that neighbors likely know other people looking for homes that they would like to have as their new neighbor!  4) NEGOTIATION This is toughest part when selling yourself. This can be a sensitive process when someone is not going to offer you exactly what you would like for your home. The reasons may not be to your liking either. This is biggest reason why people have realtors because we are neutral third party.  You want to be quite careful because for sale by owners tend to negotiate verbally initially, and though verbal communication is legal and binding, this can change. Make sure whatever negotiation you do verbally, get it finalized in writing. If you don’t know how to write your own contract, get a lawyer to help you. Or, you might be able to enlist a realtor with a fee to do that for you, which can take some pressure off for you.  Lastly, a buyer might think they are pre-approved, but not get their mortgage approved at the end of the day. This is the biggest obstacle, so make sure they are approved and can actually go forward and buy your house. 

Pride of Ownership:  You can paint the walls, play your music whenever you wish, and attach your own things to the walls! You can also improve the property not to the benefit of your landlord, but for simply your own benefit. In summary, you have a feeling of accomplishment, and you feel good! Appreciation of value:  Many use their home to hedge inflation which is a smart long-term decision. Regardless of recession, your property value always goes up! Mortgage interest deductions:  If you own your own business/independently employed, and have an office in your home, there are many write offs you can do such as on your supplies, internet, phone, cleaning supplies, office furniture, etc. There are many ways to get creative for more savings! Property tax savings:  you can make savings on whatever you pay for your property tax and your mortgage interest. Exemption from Capital Gains:   If you sell your property and it has increased in value, you are exempt from paying taxes on the gain! However, when you own rental property, you DO. Equity loans:  This is for those who are cutting back after realizing they’ve overspent on credit cards, and are struggling to pay back the interest. If you have equity in your home, talk to a mortgage broker! Get your place refinanced, and get a home equity loan so you can consolidate some of your debt and then pay it off. So, if you are getting behind on payments on your interest, your house is a great thing to tap into. Eviction: As a houseowner, you don’t have to worry about eviction! Forced savings:  If you are a bit of a shopper and not that good at budgeting, this is a good way to force yourself to save money. This is because as your property increases value, you are also paying down the mortgage and you’re ultimately saving your money every month.   It is always good to buy relative to the time, so make sure to wait for the right moment in the market (hint hint, NOW!).