Kamloops This WeekyT130701

first time

HOME BUYER’S

GUIDE

2013/2014

Find a REALTOR who WILL WORK FOR YOU! ®

Step-by-step guide for purchasing your new home How to arrange for a mortgage & avoid common mistakes

PUBLISHED BY

NEED HELP FINDING YOUR DREAM HOME? Just tell us what you’re looking for and we’ll do the rest • We listen carefully to understand your goals and guide you through the process of purchasing your new home.

• In-depth knowledge on all facets of home buying & selling.

• Proven track record.

• Local, professional experts.

CONTACT US TODAY!

Kamloops REAL ESTATE

250-374-3331

258 Seymour St. Kamloops, BC. V2C 2E5

BERTIECOLLINS.COM bertiecollins@telus.net

2 ❖ First-Time Home Buyer's Guide 2013/14

|

HANKCOL@telus.net

WELCOME TO YOUR NEW HOME! While interest rates have crept up ever-so-slightly in the past few weeks, the posted rates remain as low as we have ever seen, which means it is an advantageous market for firsttime home buyers.

It's a cliché, but true: A home is the most-expensive purchase you will ever make and, as such, deserves all your attention — and more.

This is where Kamloops This Week's First-Time Home Buyer's Guide comes into play.

Buying that first home is an exhilarating experience, but one that can be daunting, considering it is a time-consuming and, at times, complicated process.

From knowing where to look for prospective homes to finding the right realtor to agreeing on a lawyer to ensuring all paperwork is in place, the process is intricate.

So, sit back, relax and take your time exploring this publication.

In it, you will find all the information you need as you take that first step toward home ownership.

Anchoring the information is a comprehensive, 11-step guide to buying your inaugural home, around which we have included a plethora of complementary data, such as questions to ask, mistakes to avoid and a moving timeline.

Happy reading — now, turn the page and take the first step in finding your dream home!

Jennifer

HUSEBY

KAMLOOPS REALTY 250-374-3022

My commitment as your

LOCAL REALTOR® is to provide you with the specialized real estate service you deserve. Whether buying or selling, I invite you to contact me with any questions that you may have. My promise to you is that your experience will be both stress-free and enjoyable.

Cell: 250.318.5071 | YourKamloopsHome.com Ce EEmail: jenniferhuseby@royallepage.ca | 322 Seymour St. Kamloops, BC V2C 2G2 First-Time Home Buyer's Guide 2013/14 v 3

THE TRUE VALUE OF A REALTOR Realtor and real-estate agent are not interchangeable terms, although some real-estate agents might like them to be.

The term realtor is a registered certification mark that identifies the quality of services rendered by licensed real-estate agents who are members of the Canadian Real Estate Association (CREA).

All real-estate agents are not realtors, but all realtor members are real-estate agents.

Realtor members are committed to a strict code of ethics known as the Realtor Code and are the only ones who have the right to list your property on the MLS systems of their local real-estate boards.

To correctly be referred to as a realtor, a real-estate agent must be a member of the CREA. You are trusting a realtor with your most valuable possession — your home.

Realtors take this responsibility very seriously: 1. Your realtor is a trained professional: Realtors take extensive pre-licensing courses in order to obtain credentials for practising in real estate.

2. Your realtor is continuously trained: Realtors keep pace with the times by taking continuing education courses to upgrade their

knowledge on a broad range of real estate-related issues in order to be able to continue to provide consumers with current advice.

3. Your realtor does everything by the book: A realtor must be registered under provincial laws that govern exactly how real estate can and cannot be traded. These regulations are your legal guarantee of professional behavior.

4. Your realtor is an ethical businessperson: Realtors must adhere to the extensive code of ethics of the Canadian Real Estate Association. Several provinces have additional codes of ethics governing real-estate professionals. Your interests must always be put first.

5. Opportunity for recourse: Should you have concerns about the professional behaviour of a realtor, provincial regulators and your local real-estate board or association take these matters very seriously and work quickly to resolve any issues.

6. Your realtor has access to a local board’s MLS system: A board’s MLS system is the single-most powerful tool for buying and selling a home. Your realtor can provide you with exclusive features of the board’s MLS system, such as immediate notification when new properties are listed. You don’t have to wait for it to be posted on a web site.

MY MOTTO IS “A PASSION FOR PEOPLE”

I truly believe that I up hold this statement. Whether it is as a volunteer coach with para athletes at the Sun peaks Alpine Club or putting together a 10,000 name petition to save the buoys for the safety of those who use the river, I am just as loyal and concerned about the first home that you purchase. You do not need headaches during or after your purchase. You need guidance! Even before we make an offer we need to get rid of the homes that don’t meet some of my basic standards; Resale ability, market value today, area and condition. Hidden faults are another main concern when we begin viewing hopeful homes…. Faults that may only be found by ferreting out information from the City of Kamloops, RCMP or elsewhere. We don’t want a house or condo that has poor resale or none at all due to the fact it is/was sliding down a hill or once a grow op! With my many years of experience, thoughtful approach, shrewd negotiating skills and thorough due diligence I promise you a happy experience on your first purchase and the next.

Best wishes – JIM

DEAR JIM: I just want to thank you for your exceptional service throughout the sale of our Dad’s house. On a recommendation from my good friend, I was able to meet with you in September and then put you in contact with the rest of our family team – mainly our brother. We are very pleased that the sale of this house eventually went to a young couple, just starting out in life. Thank you for all the ‘above and beyond’ that we knew about (thank goodness you knew how to light a furnace that had not been in service for many years), and thank you for all the ‘above and beyond’ that we may never know about. Finally, we thank you for acknowledging our niece with a generous token of appreciation. For all of us, she certainly looked after the house. You were certainly the right real estate agent for us and we have been very pleased with your services throughout.

Thank you for taking care of this sale. - S 4 ❖ First-Time Home Buyer's Guide 2013/14

The

Personal Real Estate Corporation

Kirsten Mason Team BUYING OR SELLING A HOME? Great Service! Proven Results!

Kirsten Mason and Buyer Specialists Meryl Grant, Trudy Nichol-Dagere, Erica Harding and Lisa Villamo are dedicated full time professionals. We can guide you through the process and be counted on to answer any questions you may have along the way. Whether you are buying, selling or wish to investigate the possibilities.

We care about your needs and we promise to provide the most professional, ethical and informed real estate service in the Industry.

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Call: 250.377.3279

Buying or Selling a home? Great Service! Proven Results!

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MULTIPLE LISTING SERVICE

Trudy Nichol-Dagere Realtor

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Crystal Unlicensed Assistant

Heather Unlicensed Assistant

Alyissa Unlicensed Assistant

kmason@kadrea.com

First-Time Home Buyer's Guide 2013/14 v 5

SELECTING A REALTOR There are plenty of ways to find a realtor.

As you drive through prospective neighbourhoods, jot down the names and numbers of realtors on the "For Sale" signs.

Open houses are a great way to meet face-to-face.

Maybe friends or family members have a realtor they love.

If you are browsing properties on realtor.ca, you can also contact a realtor directly through that website.

Interview two or three and pick the one you think will be your best “business” partner.

Here is how realtors can help buyers like you: ≈ Review your list of wants and needs to help you determine your price range. ≈ Answer questions about the markets you’re interested in and help you compare homes and neighbourhoods. ≈ Use the local real-estate board’s MLS system. Your realtor can give you access to exclusive features of an MLS system to which the public is not privy. ≈ Preview properties to ensure you’re only shown homes that meet your needs and budget. ≈ Make appointments and walk you through potential

B U Y

or

homes, answering all your questions. ≈ Give up-to-the-minute information on financing and explain your mortgage options. ≈ Negotiate with the seller, smooth out any potential conflicts and draw up a legally binding contract.

Your realtor can become an expert on your specific needs and tastes.

Scattering your time and energy amongst multiple realtors will work against your goal of finding your best home.

And because most realtors have equal access to the same property listings, there is no real advantage to having multiple realtors.

Homeowners should interview a few potential realtors before deciding on one to sell their home.

Here are some smart questions to ask: 1. How long have you been in the business?

2. What is your average list-to-sales-price ratio?

3. How will your marketing plan meet my needs?

4. Will you provide references?

5. What separates you from your competition?

6. May I review documents that I will be asked to sign?

7. Can you help me find other professionals?

8. How much do you charge?

9. What if I’m unhappy with the service?

10. What haven’t I asked you that I need to know?

MAG G I E S C H MA LT Z

REALTOR®

Make Your Move with Maggie

S MR. CARSWELL L L (KEVIN)

B.P.E./Ed.

ROYAL LEPAGE KAMLOOPS REALTY

Cell: 778-220-5432 Off: 250-374-3022

mrcarswell@royallepage.ca 322 Seymour St. Kamloops, BC V2C 2G2

6 ❖ First-Time Home Buyer's Guide 2013/14

250-852-1162 • maggieschmaltz@shaw.ca

MORTGAGE QUESTIONS? We’ll be right there Franco Caputo

Mobile Mortgage Specialist 250-682-1223 Franco.Caputo@bmo.com

Lisa Krauss

Mobile Mortgage Specialist 250-318-9334 Lisa.Krauss@bmo.com

As BMO mobile mortgage specialists we can meet with you in-branch or bring our expertise to your door, whenever it’s convenient for you. Whether you are purchasing a first home or your next home, choosing the right mortgage is an important undertaking. We are committed to helping you find the right financing to suit your needs and to make your mortgage experience as uncomplicated as possible.

Let’s set an appointment for a time and place that is convenient and get started.

With competitive borrowing solutions, we can help you understand your options and find the right solution for your unique needs.

For any home financing related questions, contact us today!

Bev Wassen-Hunter Mortgage Specialist 250-572-6847

Bev.WassenHunter@bmo.com

101F - 1180 Columbia St. West • 29 - 750 Fortune Dr First-Time Home Buyer's Guide 2013/14 v 7

BUYING A NEW HOME STEP 1: BE READY TO PURCHASE If you’re thinking of buying a home, you’ve come to the right place. These pages can turn you into a house-hunting master.

But, before we jump right in, you have to make sure three things are ready — you, your bank account and the realestate market.

Are you ready? Be sure: Few joys can match the pride of owning the roof over your head, but you will have to make some sacrifices.

There’s the obvious financial responsibility, but your home will also require constant care. That’s what real pride of ownership is all about.

Is your bank account ready? Check it twice: Your first home will be the biggest financial obligation you’ve ever faced. You should ideally have saved up some money for a down payment and are managing any debts, such as student loans or credit cards.

In a couple of steps, you can determine how much you can afford.

Is right now a good time to buy?

Markets go up, markets go down and even the smartest experts can’t accurately predict when a market will peak or bottom out.

If you’re buying a home as a long-term investment (and for long-term enjoyment), you should be protected from shortterm changes in the market.

Pick a home that meets the needs of you and your family.

Then you’ll enjoy living in your investment as it grows in value.

BUYING OR SELLING? zy

I would love to work with you!

Let’s make that happen!

Patricia Love REALTOR®

CENTURY 21 Desert Hills Realty lty 867 Victoria Street Kamloops, BCV2C 2B7

Cell: 250-319-9448 Office: 250-377-3030

patricia.love@century21.ca • Work With Me Online 8 ❖ First-Time Home Buyer's Guide 2013/14

THOMPSON RIVERS APPRAISALS & Real Estate Consultants Inc. We are a leading provider of Real Estate Appraisals and Depreciation Reports in the Kamloops region Web: Trappraisals.ca • Email: office@trappraisals.ca

Contact us for a Pre-Purchase appraisal report or Depreciation Report for strata properties.

All our appraisers hold the AACI P.App and CRP Accredited Appraiser and Certified Reserve Planner Designations

919 Dominion Street Kamloops, BC Phone: (250) 372-2599 Fax: 1-877-542-4845

TRAPPRAISALS.CA

BUYING A NEW HOME STEP 2: DECIDE WHAT YOU WANT Nowadays, there are many different types of homes from which to choose and there are pros and cons to each. Take a minute to reflect on your lifestyle and, based on that, decide what best fits you.

First, decide where you want to live : Urban: Ahh, the big city. Sure ,the prices are generally higher, but you can walk to a restaurant, maybe even to work.

You’ll also have the widest range of housing options.

Suburban: Newer schools, newer shopping centres, bigger yards, bigger homes — no wonder so many people love the suburbs.

Smaller cities and towns: Canada is dotted with thousands of wonderful self-contained communities and, compared to the big city, you can save a bundle.

Rural: If you like the idea of owning land, how about a few acres all to yourself? Seclusion is not for everybody but, for some, it’s heaven.

Next, decide what type of home you want: Single-family detached: As the name implies, the home is not attached to the home next door. Styles range from a single-story suburban bungalow to a three-story Victorian.

Semi-detached or linked: Two houses that share a common wall. Usually less money than a fully detached home.

Duplex: A building zoned for two families.

Townhouse: Also known as terrace or row housing. Several homes with a common style and joined in a row. They usually share walls on both sides.

Condominium: You’ll own 100 per cent of your unit and a share of the common areas, which include the necessary plumbing, electrical systems, hallways and elevators. They may also include lots of fun stuff, such as a private gym or party room.

Membership has privileges — and costs. On top of your mortgage and property taxes, condo owners also pay a monthly fee to operate and maintain the common areas. Be sure to look into condo fees and how well they are managed before signing anything.

Next, decide on new or resale.

Resale: Previously loved. Nothing can match the charm and character of an older home. As a bonus, the previous owner may have made improvements and upgrades and you get them with the house, usually for less than the cost of putting them in yourself. However, some may have a little too much "character," like a leaky roof. Know what you’re getting into.

New: If you’re having a new home built from the bottom up, carefully examine the property, the blueprints and visit other homes built by the same company. Have your realtor and/or lawyer review everything before you sign. While your home is being built, stay on top of the process. And remember, you have a legal right to make a full inspection of the house before you accept it as complete.

WONDERING HOW TO GET FROM HERE

TO HERE?

Are you a 1st Time Home Buyer?

Don’t understand Real Estate jargon?

Scared to speak with a Real Estate agent?

Don’t know which way to turn?

LET CAROL & TANYA SHOW YOU THE ‘INS & OUTS’ Call Carol Johnson: 250-377-1156 or Tanya Cokran: 250-819-4595

Green Door on St. Paul 135 St. Paul Street

Open house details online at

w w w.mcmrealestate.ca First-Time Home Buyer's Guide 2013/14 v 9

BUYING A NEW HOME STEP 3: HOW MUCH CAN YOU AFFORD? Before you start looking for your dream home, let’s find out how big you can dream.

Knowing your true budget is the first and most important step in buying a home.

A home is a big purchase, probably the most expensive thing you’ll ever buy, and there are lots of expenses you might not even know about.

Some of them include: One-time costs: Down payment, legal fees, title insurance, inspection fees and property-transfer taxes.

Monthly costs: Mortgage, utilities, maintenance, insurance and property taxes, Everybody's total costs are different, but it's almost guaranteed you won't have that much money saved up.

Hopefully, you have enough for a nice down payment, but for the rest . . .

Yes, you need a mortgage.

So, determine how much a bank will lend you.

Head over to the next step, where you will find helpful tips on arranging your mortgage.

But, the first step in determining how much a bank will lend you is to understand how much you can afford each month.

L

inda ove

This iis d determined t i d using i ttwo llending di principals: i i l 1. Gross debt-service ratio (GDSR) calculation: This lending principle simply states that your monthly housing cost should not exceed 32 per cent of your gross monthly family income.

2. Total debt-service ratio (TDSR) calculation: This lending principle summarizes that your monthly housing cost and payments on all of your other debts (including loans, credit cards and lease payments) should not exceed 40 per cent of your gross monthly income.

250.374.1461

Jan Bombardier Whether you are purchasing, selling or wish to investigate the possibilities, I care about your needs and will take the time to provide personal attention and 100% client satisfaction.

Kamloops Realty 250-374-3022

Love

I would to help you buy or sell your home!

778-220-1227 • lovekamloops.ca • lindalove@lovekamloops.ca 10 ❖ First-Time Home Buyer's Guide 2013/14

I promise to provide the most professional, ethical and informed real estate services in the Industry. My most important assets are honesty and integrity. Feel free to review client testimonials on my website.

250.819.2557

MASTER SALES AWARD

movinginkamloops.com • janbombardier@royallepage.ca

A NAME YOU CAN TRUST

BUYING A HOME STEP 4: ARRANGE A MORTGAGE Money makes the world go round and a mortgage gives you the power to buy a home. This isn’t the most fun step in buying a home, but it’s vital.

Who do you talk to?

There are hundreds of banks, credit unions and other lenders out there who would love your monthly mortgage payments. So, talk to everybody and don’t be money-shy!

Talk to your banker, other banks and people you know.

Call a mortgage broker: Mortgage brokers are a great resource. They find low rates for a living and they usually don’t get paid unless you sign a mortgage through them, so they’re highly motivated to get you the best deal.

Your best mortgage might be the seller’s mortgage: Often, you can take over or "assume" the seller’s mortgage.

This is a great idea if the seller is locked into a lower interest rate than you can get right now. Your realtor may have additional information.

Mortgage terminology Mortgage term: Refers to how long the bank has agreed to lend you the money— typically from six months to five years. At the end of the term, you usually re-negotiate a new term.

CAROL CANDY AMP 250-318-7048 carolcandy.ca

STARR WEBB AMP 250-574-0115 starrwebb.ca

Amortization: The length of time it will take to pay off the whole mortgage, often as long as 25 years. The longer your amortization, the lower your monthly payments, but the more you pay in interest over time.

Interest rates: Interest is the cost of borrowing money and the interest rate tells you exactly how much. The interest rate not only affects how much you pay, it also affects how much you can borrow. So, keep searching for the best rate!

How big a down payment?

You want as small a mortgage as possible, which means making the biggest down payment possible. Just remember to set money aside for all the fees associated with buying a home. Not to mention moving, repairs, renovations, new furniture . . . think ahead.

The Home Buyers’ Plan — a little sweet relief: If you’re a first-time homebuyer with money in an RRSP, you can withdraw up to $25,000 without paying income tax.

If your spouse is also eligible, that’s $50,000. Ask your realtor how to best take advantage of this plan.

Lock into an interest rate? For how long?

It’s a tough question. What if you lock in for five years and the rate goes into a period of decline? That could mean you’re stuck paying more than you had to for a long time. But, if rates were to steadily climb over the next five years, locking in for five years now would be a great move.

Call a Dominion Lending Centres mortgage broker first!

MARY-ELLEN COLMAN* AMP 250-371-4868 colmanmortgages.ca

• FREE NO OBLIGATION MORTGAGE PRE-APPROVAL AND RATE HOLD

BRIAN DELANY

• FLEXIBLE DOWN PAYMENT OPTIONS • ASK FOR A FREE COPY OF OUR HOME BUYER’S GUIDE

We Make Mortgages Easy…

Really Easy!

250-819-8176 briandelany.ca

250-434-8900 Toll Free: 1-877-556-8488 376 Seymour Street, Kamloops, BC V2C 2G2

Western Lending Source First-Time Home Buyer's Guide 2013/14 v 11

BUYING A NEW HOME STEP 5: FIND A REALTOR RIGHT FOR YOU Realtors aren’t just people who help find you a home.

They’re an invaluable resource for knowledge, contacts and advice who help turn buying a piece of property into a home.

Here is what you can expect when you enlist the help of a realtor: There are a number of different kinds of relationships you can develop with your realtor; however, they all fall primarily under two categories — agency relationships and nonagency relationships.

Single agency: An agency relationship is one where the realtor represents you exclusively. In that respect, the realtor's primary obligation is to you and they are required to act only in your best interests. Anything you tell your realtor agent is strictly confidential and the realtor has an obligation to disclose to you any information he or she has that is related to the transaction.

Dual agency: Dual agency refers to the situation where the realtor represents both the buyer and the seller as agent at the same time.

In this case, both parties are required to sign a dual-agency contract setting out the obligations of the realtor to both

parties and obtaining the consent of the parties to this type of representation.

Non-agency: It is possible for a realtor to work with you without being your agent.

In this case, the realtor can give you information, but cannot provide you with advice. There is a big difference between these two concepts.

Nothing you say to a “non-agent” is confidential, so you have to be careful what you confide. As a buyer, you will likely want your realtor to act as your agent, but that decision is up to you.

Remember, the Realtor Code requires realtors to disclose the nature of the relationship they have with you and the duties and obligations associated with that relationship. Make sure you have this discussion with your realtor.

Selecting a realtor: There are lots of ways to find a realtor.

As you drive through prospective neighbourhoods, jot down the names and numbers of realtors on the "For Sale" signs.

Open houses are a great way to meet face-to-face.

Maybe friends or family members have a realtor they love.

If you are browsing properties on realtor.ca, you can also contact a realtor directly through that website.

Interview two or three and pick the one you think will be your best “business” partner.

GREAT FOR INVESTORS!

138  1555 HOWE ROAD

2460 AGATE BAY ROAD

415  554 SEYMOUR STREET

Call me for current pricing on these listings!

Or any property you’re interested in!

12 ❖ First-Time Home Buyer's Guide 2013/14

302  751 GRANDVIEW TERRACE

BUYING A NEW HOME STEP 6: SEE WHAT'S OUT THERE Now’s the time to pound the pavement and see what’s available.

This step can be either incredibly fun or incredibly exhausting. But, with an expert realtor at your side, you’ll be able to sift through to your dream home much more effectively.

Read and see all about it: ≈ Start reading real estate ads in Kamloops This Week. ≈ Visit the areas you’re considering to get a feel for them. ≈ Make note of surrounding schools, shopping and recreational areas. ≈ Keep an eye out for not-so-great things like large industrial areas, railway tracks and airports. ≈ Visit during the day and at night.

Open Houses, come on in: Open houses are a great way to see inside the homes of

Real Estate for the real world Desert Hills Realty • 867 Victoria St, Kamloops

y your potential neighbourhood. If a realtor is hosting the open house, he or she probably knows the local market inside p aand out and will be happy to answer your q questions.

Don’t be afraid to ask!

Realtors have access to incredible house-hunting tools called MLS systems, h which are operated by real-estate boards w aacross Canada.

You can view publicly available information about MLS listings at www. in re realtor.ca. Your realtor can start sending yyou listings of potential homes right away.

Most listings will have multiple photos — and some even have moving p 3360-degree views! And, with the interactive mapping feature, you’ll be in aamazed how fast and easy it is to zero in on your favourite few homes. o Stay objective when visiting potential homes: h Walking through a potential home is a thrill, but try not to lose your head.

Don’t let a giant kitchen island or swanky hot tub distract you from your real goal, which is finding a home that meets all your needs and fits your budget.

DEB FEHR

CELL: 250-571-2472

DEBORAH.FEHR@CENTURY21.CA WWW.CENTURY21.CA/DEBORAH.FEHR

I MAKE REAL ESTATE EASY…

WHAT THAT MEANS FOR YOU…

Whether you are buying or selling, using me as your Buying and Selling Real Estate is many things. It can be Real Estate Professional means you get over 25 years of exciting, confusing and stressful all at the same time, Real Estate, Mortgage and Financial experience. That as it represents the largest transaction most people combined with my love of Real Estate and knowledge of and families will ever make. the Kamloops area means that you will get the highest With me, you can focus on the exciting, while I remove level of professional service. the confusion and the stress… because I make Real My goal is your referral. When our business is done, If Estate Easy!

I get that, then I’ve done my job.

HOW I’M DIFFERENT… As both a Real Estate agent, and a Licensed Mortgage expert, I’m different. I prefer to tackle financing first, so working together we can determine exactly what you can afford, and build a plan based on your needs and objectives. That way, there are no surprises. Now the house hunt can begin in earnest, and when you find your dream home, its yours.

SO LET’S GET STARTED… Together we can do a comprehensive review of your finances, as they relate to Real Estate. From there we can come up with an action plan, and review all of the variables and possibilities with a view to making your Real Estate dreams a reality, either today or with careful planning, tomorrow.

CALL ME TODAY FOR YOUR FREE, NO OBLIGATION HOME EVALUATION AND/OR MORTGAGE FINANCING REVIEW

DEB FEHR CELL: 250-571-2472

DFEHR@DOMINIONLENDING.CA • WWW.DFEHR.CA

WESTERN LENDING SOURCE First-Time Home Buyer's Guide 2013/14 v 13

ESSENTIAL INSURANCE TIPS From mortgage approval to making an offer to paying closing costs ‚ buying your first home is both exciting and scary.

At the top of this list, for example, is home insurance.

Not only will insurance protect you should anything happen to your home or its contents, but it is also necessary to secure a mortgage.

“First-time home buyers can become overwhelmed with all the steps required to purchase a home and often need to make a quick decision about home insurance,” says John Jenner, vice-president of marketing and communications at Western Financial Group.

“But, a quick decision might not be the right decision and first-time buyers should be aware of the important choices they need to make.”

As a starting point, here are three concepts that first-time home buyers should understand: ≈ All perils vs. named perils: A named perils policy provides protection against hazards or events, such as fire or vandalism, which are specifically listed on your policy.

Named perils policies are usually less expensive, but you run the risk of being struck by a calamity that isn't on your list.

An all-perils policy will cover you against everything expect perils that are specifically excluded in your policy.

Check over your insurance policy to ensure you have adequate coverage and consider taking safeguards, such as installing a sump pump, to prevent disasters that aren't included in your policy. ≈ Contents insurance: Your insurance policy will likely cover more than just your home. It will cover your possessions as well.

There are two typical types of coverage that apply to the contents of your home — actual cash value or replacement cost.

The actual cash value coverage will reimburse you for how much your possessions were worth when they were lost or damaged. For quickly depreciating items such as TVs or computers, you may not receive enough money from your insurance claim to actually replace the item that was lost.

If you have many items that have depreciated quickly, but you would be forced to replace if disaster struck, you should consider a policy that covers the actual replacement cost of your possessions. ≈ Loss of use: Make sure you understand the loss of use section of your insurance policy.

It outlines the living expenses you'll receive should you be forced to leave your home because of a disaster.

It often will cover your increase in cost of living while you are displaced from your home.

More information is available online at www. westernfinancialgroup.ca.

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14 ❖ First-Time Home Buyer's Guide 2013/14

No need to travel to Vancouver or Kelowna to find the perfect furniture for your home!

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Spend the day shopping several local stores, just steps away

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Visit our show suite to learn about current promotions to save you money!

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WWW.TOTALCONCEPTDEV.COM 16 ❖ First-Time Home Buyer's Guide 2013/14

KAMLOOPS REALTY

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KAMLOOPS REALTY

First-Time Home Buyer's Guide 2013/14 v 17

110 www.Team110 www.Team 110.com .com 2 5 0 - 8 51 - 3110 703 St. Paul Street

Jeremy Bates Realtor®

Tanya Ney

Unlicensed Assistant

info@Team110.com Robert J. Iio Personal Real Estate Corporation

Bobby Iio

REALTOR®

If you are looking to Buy or Sell Real Estate in the Kamloops Area, then you have come to the right place.

River City Realty’s Team 110 pride’s itself on superior customer service, knowledge, professionalism & expertise.

INFORMATION FOR BUYERS

If you are interested in buying real estate in the Kamloops area then we can help you.

Whether you are looking for property in the City center or in the outlying area, one thing is for sure, you need the advice of local Real Estate Experts.

We have access to all listings throughout the Kamloops area and stay up to date on all the latest Real Estate trends in our entire region.

As REALTORS® we will be able to help you: Select a Property • Identify desirable types of properties to acquire • Choose what area suits your individual needs • Locate properties for sale in your desired location • Guide you on viewing the properties you are interested in • Help you select the right property to make an offer on Make an Offer • Negotiate favourable terms and conditions • Prepare a Contract of Purchase & Sale containing clauses for your protection & benefit • Help arrange suitable financing if necessary Finalize an Accepted Offer • Assist in arranging final property inspections • Prepare the Transfer of Title contact with your solicitor • Ensure the completion & possession process goes smoothly • Follow-up in the future to ensure issues are handled properly

18 ❖ First-Time Home Buyer's Guide 2013/14

BUYING A NEW HOME STEP 7: MAKE AN OFFER You’ve found a home? Congratulations!

Now, if you actually want to make it yours, you have to make a successful offer, one that the seller will accept.

Preparing the offer: Realtors can prepare the offer for you.

Here are some terms you’ll see in the offer: Buyer: That’s you.

Seller: The present owners.

Purchase price: The most important number. Let’s hope the seller goes for it!.

Deposit: A cheque you write to the seller or the seller’s broker. This is your way of saying, "My offer is serious."

The size of the deposit is up to you.

Chattels included and fixtures: Be sure you know what is included with the house — the washer and dryer, the microwave, draperies, light fixtures.

Don’t leave anything to chance.

Irrevocability of the offer: The length of time you give the seller to consider your offer. Usually less than 48 hours.

Completion date:

The glorious day you take possession!

Often 30 or 60 days after signing.

Clauses particular to this agreement: Every transaction is unique and you may want to add conditions that are important to you, such as a proper home inspection.

Your realtor can help ensure no details are overlooked in your offer.

Submitting the offer: You’ve signed on the dotted line and your realtor has provided your offer to the seller.

The seller can accept your offer .

Fantastic, when do you move in?

The seller can reject your offer.

It’s not common for an offer to be completely rejected.

If it was, your realtor can investigate why and see if there was some misunderstanding.

The seller can "sign back" or counter your offer.

The seller wants to alter some part of your offer — most likely the price.

The seller will cross out the price on your offer and write a higher number — or delete or alter some conditions.

Now it’s your turn to sign back with any additional changes or your acceptance of the counter-offer.

Good luck!

First-Time Home Buyer's Guide 2013/14 v 19

BUYING A NEW HOME STEP 8: FIND A HOME INSPECTOR Purchasing a home is a big decision that requires a large financial investment.

A buyer requires all the pertinent information available to them. The best way to learn more details about your new home is to have it inspected beforehand.

Make a conditional offer based upon a satisfactory home inspection as this is an increasingly standard condition on any resale home.

If the seller doesn’t want you closely examining the home before you take possession, you have to wonder why.

Go with a qualified professional: Make sure your inspector is a member of a recognized professional organization. It helps provide some assurance they have the training and experience for the job.

What will they check during the inspection?

Lots of stuff. Plumbing and electrical systems, the roof, visible insulation, walls, ceilings, floors, windows and the integrity of the foundation.

They also check for lead paint, asbestos, mould, outdated and dangerous wiring and evidence of pests like mice or termites.

Join the inspection: Get up close and familiar with yyour new home.

If any problems are detected, yyou’ll see them first-hand and learn ssome maintenance tips from a pro.

You’ll get it in writing: Their report will summarize the ccondition of your home.

If there’s anything that needs work, the home inspector will w provide an estimated cost for the p rrepairs.

Home inspection for a new home? h New does not equal perfect and cconstruction quality can vary greatly ffrom builder to builder.

In some provinces, repairs and ccorrections in new homes may b be covered by a government- or iindustry-sponsored warranty program.

Bad news doesn’t necessarily mean it will have to cost you.

QUALITY HOME INSPECTIONS We p We pride ride ride ri eo ou ourselves urrse u selv lve ess o on np pr providing rov ro ovidin ng the peac peace ce of of mind people have come to expect from Canada’s Leading Home Inspection Company.

We provided homebuyers, home sellers and real estate professionals with quality home inspections and valuable energy efficiency evaluations. The home buying and selling process can be very stressful. An AmeriSpec home inspection can help a homeowner better understand the condition of the home they are buying or selling.

Our professional and knowledgeable home inspectors can make you feel more secure with your home purchase or selling decision.

BILL JOHNSON CMHI, CEA

Ph: 250-377-0026 Email: bill.johnson@amerispec.ca Canada’s Leading Home Inspection Company 20 ❖ First-Time Home Buyer's Guide 2013/14

www.amerispec.ca/kamloops

BUYING A NEW HOME STEP 9: ADD A LAWYER TO YOUR TEAM Buying a home involves piles of legal documents.

You need someone to translate the "legalese" and ensure your best interests are protected.

Finding a lawyer: There are lots of experienced real estate lawyers out there.

Ask your friends or co-workers.

Realtors will happily give you the names of several lawyers experienced in real estate.

Be sure you ask your lawyer how they structure their fees and get an estimate of the other legal costs you can expect.

How your lawyer will help: There are many, many legal steps to transferring ownership of land from one person to another.

Even if pitfalls like fraud, government legislation, zoning issues or unpaid taxes don't come up, your lawyer will more than earn their pay by making the legal transfer of the home a smooth one.

Have confidence in your lawyer: He or she is here to help you.

Ask questions if you don't understand anything.

Explaining legal jargon in plain language is a big part of their job.

YOUR SPECIALISTS IN REAL ESTATE LAW Gary Woitas and Rod McLeod offer a full range of legal service including formation of corporations, advising on business legal decisions, wills, drafting and estates, real estate services, and in particular residential and commercial conveyancing/mortgages.

WOITAS MCLEOD

& ASS O C IAT ES

ROD McLEOD

GARY WOITAS

Phone: 250-374-3337 Fax: 250-374-3037 243 Seymour St, Kamloops First-Time Home Buyer's Guide 2013/14 v 21

4. Contact your lender and have them finalize your mortgage documents. Have your lawyer review them before you sign.

BUYING A NEW HOME STEP 10: CLOSE THE PURCHASE Your offer has been accepted and you can’t wait to move in — but, don’t break out the bubbly just yyet.

You have to close the deal.

Your realtor and lawyer will do most of the closing work, but here’s your checklist:

6. If yo you rent, give notice to your landlord or sublease your apartment.

7. Begin Be planning your big move! Where are those cardboard boxes?

1. Immediately begin satisfying any conditions of the agreement that require action on your part. Your realtor can fill out the documents stating the conditions have been satisfied.

8. Send out your change of address information and fill out a card at the post infor office. c Contact the government about changing information on your driver's cha licence. lic

2. Have your lawyer begin searching title to the property. This can take a while, ile, so make sure you allow ample time.

9. Walk through your new home one more time with your realtor. m

3. Well before closing, get your homeowner’s insurance to be effectivee on your closing date. Your insurance broker er will give you a "binder" letter certifying you are covered.

You can’t get a mortgage without this letter!

ARE YOU A FIRST TIME HOME BUYER & HAVE A

BAG FULL OF QUESTIONS? Do I Need A Home Inspection?

5. Your lawyer will transfer essential utilities, like hydro and water, but you’ll have to make sure telephone and companies switch their services to your name. cable com

10. A day o or two before closing, you’ll meet with your lawyer to sign tthe closing documents. Your lawyer will tell you in advance what certified cheques you’ll need to seal the deal.

RUBY SAYS:

Whether you’re a first time home buyer, new to Kamloops or just moving, call Kelly for all your real estate needs

Should I buy New or Pre-Owned?

How Does The Buying Process Work?

RAT What ES C I Affo an rd?

ES COSTS/FE st o What Are M as? re Desirable A

SOLD

LET US HELP YOU EVERY STEP OF THE WAY

Marvin

Jessica

250-319-8784

250-374-3022

MATT

mmatt@shaw.ca RealEstateKamloops.ca Member of Kamloops Chamber of Commerce

MATT

je-matt@hotmail.com JessicaMattRealEstate.com

22 ❖ First-Time Home Buyer's Guide 2013/14

Kamloops Realty 250-374-3022

Kelly Provencher 250.571.9422

www.realestateforsalekamloops.com

BUYING A NEW HOME STEP 11: MOVE IN!

Have a garage sale l or give it to charity. h Once you move in: The boxes are mostly unpacked and you’re settling in nicely.

You will now feel a strange urge to begin making changes and improvements right away. That old carpet has to go, a bigger deck would be great for entertaining . . . slow down!

Take time to get a feel for your new home and, more importantly, your new budget.

Take a deep breath and enjoy what you have — your new home.

&CHIC

BUYING? LET ME HELP! HELPFUL BUYER TIPS Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture; it leaves with the owner.

Plan For Flexibility Closing dates are not written in stone. Allow for contingencies and have a back-up plan.

If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you.

Do a Final Walk-through

Be a Detective Check out all costs and expenses before you sign, including utilities, taxes, insurance, maintenance, and home owner dues if applicable. Ask lots of questions and be very detail conscious.

Income + Lifestyle = Mortgage Payment Sit down with your real estate agent and honestly discuss your income levels. Take into account future considerations, children, add-ons, amenities, and fix-ups.

Visit the property after all furnishings have been moved out to be sure there are no surprises.

View Several Homes See at least 7-10 properties. Don’t move too slowly, but don’t move on the first property.

If It’s Not In Writing, It Doesn’t Exist All promises and discussions should be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your

NEAT

professional keep an ongoing log in writing of all discussions and get the seller’s written approval on all agreements.

Call today to be included on my Private Client Services (PCS) for Buyers where I set all my clients up with their very own personalized search of all MLS® listings. When ready, we can start viewing any homes of interest!

Jackie Brommeland 250-574-3701 Call or email today for further information.

Kamloops Realty 250.374.3022

SellingKamloopsHomes.com • Jackie Brommeland@gmail.com

Home Staging

CERTIFIED PROPERTY STYLIST BEFORE

Imagine the Property Vacant

AFTER

Moving day will come sooner than you think, so get planning now.

"Closing date" may or may not mean moving date: It may or may not be practical to move in on the closing date. You may not get the keys to your new home until late in the day.

So, you may want to try to schedule the actual move for a day or so after closing. If you intend to move at the end of the month, contact a moving company or truck-rental company now before they’re all booked. If you can move mid-week or mid-month, a moving company might cut you a deal.

Go with a reputable moving company: We’ve all heard moving horror stories. Go with an established, insured mover, so your items are protected.

Pack it yourself and pack early: Nobody will take the same care you will. Start early and spread it out over many days. Label all your boxes by room so movers know where to put them — and label anything that’s fragile.

Do you really need to take that with you?

A new home is a new lease on life and a chance to liberate yourself from stuff you simply don’t need. If you haven’t used it or worn it in the last year, you probably don’t need it.

Styling Your Home to Sell

ORGANIZING YOUR LIFE & HOME WITH STYLE

250.819.8333 felicia@neatandchic.com www.NeatAndChic.com First-Time Home Buyer's Guide 2013/14 v 23

WHAT ABOUT SELLING? DO I NEED A REALTOR? Many people who try to sell their own home end up using a realtor in the end anyway.

Before anybody decides to fly solo through this complex, timeconsuming and financially perilous process, they should consider these questions: Will you really “save” the real-estate commission?

When buyers see a home for sale "by the owner," they see a bargain. They imagine the realtor's fee going into their pocket, not yours.

How many potential buyers will you reach?

Selling a home takes more than just hanging a “For Sale” sign.

How will you promote your home? Will you write your own ads?

How will you use the Internet? MLS and the corresponding website, www.realtor.ca, have changed the way people search for homes and it’s hard to court buyers without it.

Do you have the time?

Promoting a home is a full-time job and you may already have one. Will you be able to take calls at any time? How about screening the callers to figure out if they’re suitable candidates?

Not everybody who calls is even suitable to walk through your home, but how do you tell?

Do you know the market well enough to get the most for your home?

Lacking years of experience, the average do-it-yourselfer is merely guessing at their listing price.

Often they set the price too low and miss out on thousands of dollars or they price their home too high and drive away willing buyers.

Do you have the negotiation skills to keep a deal on track?

When an offer comes in, emotions can run high with so much money on the line.

This is why direct seller-to-buyer deals often end in disaster.

Realtors keep it professional and are indispensable when it comes to bargaining with buyers.

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24 ❖ First-Time Home Buyer's Guide 2013/14

MOVING CHECKLIST Moving always brings mixed emotions. It can be very exciting and stressful at the same time.

To help, here are some useful tips that will help make your move efficient and trouble-free: 4 to 6 weeks before moving: ≈ Contact Canada Post to have your mail forwarded to your new address.

2 to 3 weeks before moving: ≈ Get boxes and moving supplies. ≈ Arrange phone service at your new home. ≈ Take unwanted items to charity and/or dump. ≈ Arrange the return of any cable TV equipment. ≈ Complete necessary change of address forms, including drivers’ licence, health card, insurance companies, employer, doctor, dentist, gym/club memberships, bank accounts, credit

cards, Canada Customs and Revenue Agency, etc. ≈ Notify kids’ schools, transfer records. ≈ Register at new school. ≈ Get copies of medical and dental records; if you have pets, get copies of veterinary records.

8 to 14 days before moving: ≈ Return borrowed items. ≈ Arrange connection of utilities at new place. ≈ Retrieve loaned items. ≈ Arrange disconnection of utilities at old place. ≈ Arrange for major appliances to be moved, if necessary.

2 to 7 days before moving: ≈ Pack a suitcase with the clothes and toiletries that you’ll need the first day in your new home. ≈ Prepare “installed items” that you’re bringing. ≈ Pack a special box with other essentials you’ll need for the first few days and marks this box “Do Not Move”.

The day before moving: ≈ Pack your personal belongings, except your alarm clock, necessary clothes, jewelry and bedding. ≈ Empty, defrost and clean refrigerator. Clean the stove.

Moving day! ≈ Keep paperwork accessible. ≈ Collect all keys and keep them in a safe place. ≈ Clean premises that you are leaving, inspect with the landlord. ≈ Final walk-through. Check all closets and cabinets. ≈ If using a moving company, confirm the new address and delivery time with the driver. ≈ If using a moving company, walk about with supervisor and sign inventory forms.

After moving: Contact city/municipal offices to find out about garbage pick up, recycling facilities and local regulations and information.

First-Time Home Buyer's Guide 2013/14 v 25

A QUICK SUMMARY In KTW's First Time Home Buyer's Guide, we have presented 11 crucial steps to purchasing your first home.

Below you will find a quick guide to reference when you start your journey, ensuring you don’t miss a thing!

STEP

PAGE

1. Make sure you're ready 2. Decide what you want 3. How much can you afford?

4. Arrange a mortgage 5. Find a realtor 6. Find out what is out there 7. Make an offer 8. Find an inspector 9. Find a lawyer 10. Closing your purchase 11: Move in!

8 9 10 11 12 13 19 20 21 22 23

Your “Household” Name in Real Estate

Linda Turner Personal Real Estate Corporation

Children’s Ch Child dren’s d ren’s M Miracle racle Networ Network

250-374-3331

Real Estate (Kamloops)

www.LindaTurner.bc.ca

MULTIPLE LISTING SERVICE

Linda_Turner@telus.net

WHEN YOU ARE READYY...we wouldd love ove to help e p you buy or se sell your home” ome” 26 ❖ First-Time Home Buyer's Guide 2013/14

OTHER QUESTIONS TO ASK YOUR REALTOR: Is a property-disclosure statement available?

In British Columbia, sellers may have completed a propertydisclosure statement. This statement provides information about the state of the home to potential buyers.

What is the zoning on this home?

The zoning on a home is established by the local government.

Zoning sets the type of buildings that may be built on any particular piece of property and how those buildings may be used: Single-family residential, duplexes, multi-family residential, commercial or industrial.

Is a land title search available?

A land title search will allow you to see who is registered as the current owner of the home and if there are any registered mortgages, easements, restrictive covenants, rights of way, etc., which may affect the use or value of the home.

Are there any restrictive covenants?

A restrictive covenant places a specific limitation on the owner’s use or occupancy of the property.

Are there any easements?

An easement is a right or privilege one party has to use the land of another for a special purpose How much are the property taxes?

The amount of property taxes payable will figure in the

calculation of how much money you can borrow to finance your purchase.

Is the structure covered by any warranty?

Homes built by a licensed residential builder under a building permit applied for on or after July 1, 1999, or where construction began on or after July 1, 1999, in areas where no building permit is required, are subject to the mandatory third-party warranty insurance provisions of the Homeowner Protection Act, unless there is an applicable exemption.

Fixtures vs. chattels: Things contained in a building or on the land are classified as either fixtures or chattels. The difference between a fixture and a chattel is very important to you because fixtures stay with the home when it is sold, but chattels depart with the old owner.

Are there permits in place?

Are there permits in place for building and/or renovation work and for the electrical and gas systems including original and alterations/additions?

What about strata properties and co-operatives?

If you are contemplating the purchase of a home that involves strata, there are some additional points to consider: ≈ What are the monthly charges for common area maintenance (strata fees)? ≈ Does the building have a good reputation for honesty and successful operations?

Are units not controlled by the developer being successfully resold?

experience the

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DREAM HOME CHECKLIST WANTS

NEEDS Exterior: ≈ Single family detached home ≈ Fenced backyard ≈ Semi-detached home ≈ 1-storey home ≈ 2-storey home ≈ 3-storey home ≈ Condominium ≈ Townhouse ≈ Mature trees/landscaped yard

Exterior: ≈ Large lot and yard ≈ Swimming pool ≈ Low-maintenance landscaping Interior: ≈ Fireplace(s) ≈ Walk-in closet(s) ≈ Closet in entranceway ≈ Eat-in kitchen

Interior: ≈ 1 bedroom ≈ 2 bedrooms ≈ 3 bedrooms ≈ 4 or more bedrooms ≈ 1 bathroom ≈ 1.5 bathrooms ≈ 2 bathrooms ≈ 3 or more bathrooms ≈ Separate dining room ≈ Separate family room

I CAN HELP WITH… (Kamloops) Real Estate SENIORS REAL ESTATE SPECIALIST

When you make the important decision to buy or sell a home in the Kamloops area, I am committed to going the extra mile to ensure that all of your needs are successfully met in a professional and honest manner.

For Service and Commitment with your Kamloops Real Estate transactions let me be your guide.

• First-time Home Purchase • New Immigrant Financing • Renewals • Refinancing Your Home • Purchasing • Self-employment Programs

JOANNE RICHARDS MORTGAGE CONSULTANT AMP, PFP

Cell 250-319-3876

Mobile 250-320-4214 Toll-free Fax 888-594-9123 Website www.joannerichards.ca Email joannerichards@invis.ca

dbinkamloops@shaw.ca denisebouwmeestersales.com

Joanne Richards

Denise Bouwmeester 28 ❖ First-Time Home Buyer's Guide 2013/14

Canada’s Mortgage ExpeArts™ DBA-Brenda Colman Mortgage Consultant AMP, PFP

SEVEN COMMON MISTAKES AND HOW TO AVOID THEM Becoming a homebuyer and applying for a mortgage can seem overwhelming, especially if it’s your first time.

With the help of an RBC expert and dedicated mobilemortgage specialists, it can be easy.

To help you feel more confident and prepared for becoming a first-time homeowner, we’ve put together a list of seven of the most common pitfalls: 1. Thinking you won’t qualify for a mortgage Dreaming of owning your own home, but not sure if you qualify for a mortgage? Even if your credit history is less than perfect, we can help you find a solution.

2. Not knowing all the down payment choices You’ll be glad to know that there are different options available, depending on how much of a down payment you can afford: ≈ Conventional mortgage or RBC Homeline Plan (20 per cent down payment). ≈ Low down payment mortgage (minimum five per cent down).

3. Focusing too much on the interest rate, rather than the overall solution All too often, first-time home buyers give more thought to interest rates than the mortgage solution itself. ≈ Fixed-rate mortgage: Fixed-rate mortgages offer the security of locking in your interest rate for the term of your mortgage and your payment amount stays the same, providing ease of budgeting. The main advantage is that the interest rate stays the same during the term of the mortgage and that you know exactly how much of your payment is applied to principal and interest.

Variable-rate mortgage: With a variable rate mortgage, your payments remain the same, regardless of fluctuating interest rates. When rates go down, more of your payment goes to pay the principal and less to interest, enabling you to pay off your mortgage sooner. When rates go up, the reverse happens as less of your payment goes toward the principal and more to interest, extending the amortization period.

≈ Combined fixed- and variable-rate mortgage: With the RBC Homeline Plan, you can enjoy the advantages of both variable and fixed rates by diversifying your mortgage. That means the variable portion allows you to take advantage of potential long-term savings, while the fixed-rate portion protects you if rates rise.

4. Being unrealistic about how much you can afford to pay for your home You may be under- or over-estimating how much you can afford to pay for your home. Our online mortgage calculators make it easy for you — all you need to do is log in to www. rbcroyalbank.com/mortgages and click on the “How much home can I afford?” link.

5. Not considering a mortgage pre-approval Knowing the amount you will be approved for gives you the confidence to begin looking at homes within your price range.

6. Not choosing your own mortgage payments schedule Customize your amortization period depending on how much you can afford. Paying off your mortgage sooner saves you interest costs, while a longer amortization period reduces your regular payment amount and gives you more room to manage your cash flow. Because extended amortization means increased interest costs and paying down a mortgage more slowly, this option isn’t for everyone.

See www.rbcroyalbank.com/products/mortgages/home_ protector_insurance.html for details of coverage.

7. Not knowing your credit rating A credit rating is a record of your credit history and current financial situation, which typically translates into a credit rating score. Lenders can use your credit rating to verify your repayment history. Checking your history is easy! Simply ask for a copy of your credit rating at either www.equifax.ca or www.tuc.ca.

To learn more: ≈ Talk to an RBC mobile mortgage specialist. ≈ Visit your local branch. ≈ Call 1-800 ROYAL 70 (769-2570) ≈ Visit www.rbcroyalbank.com/products/mortgages/first_ time_home_buyers.

SO YOU’VE DECIDED TO BUY A HOME...THEN YOU SHOULD ATTEND OUR

FIRST TIME HOME BUYER’S SEMINAR! JULY 25TH 78PM • 615 VICTORIA ST, CHAMBER OF COMMERCE IN ATTENDANCE: • Gary Woitas, Real Estate Specialist (he is a lawyer) • Kevin Carswell, Royal Lepage Kamloops Realty • RBC Mortgage Specialists

LIMITED SEATING

e Home Buyer’s series!

Please join us for the first seminar in our First Time

CONTACT LEE ANDREWS TO BOOK YOUR SPOT!

778-257-7099 • lee.andrews@rbc.com

First-Time Home Buyer's Guide 2013/14 v 29

LAST, BUT NOT LEAST . . .

A VERY USEFUL RESOURCE The New Homes Registry, which can be found online at http://www.hpo.bc.ca/new-homes-registry, provides prospective home buyers with information that will help make more-informed decisions when buying a new home.

It’s a useful resource for home buyers, realtors, lawyers, local governments and others interested in quickly checking the status of a new home or a new home under construction.

Use it to find out if a new home or new home under construction has a policy of home-warranty insurance and is built by a licensed residential builder.

You can search for single-detached homes and multi-unit (including duplex) buildings.

If the home does not have home-warranty insurance, it may have been built under an owner builder authorization or it may be exempt because it is a rental building.

This information is also available on the registry.

The New Homes Registry can be searched using the civic address or legal description.

Only homes registered with the HPO since Nov. 19, 2007, are searchable on this registry.

If you cannot find the home you are looking for, call, tollfree, 1-800-407-7757 for assistance.

Quality, Affordable Living

KOKANEE COURT

Tired of Paying Rent? $

891/month

Based on 5% Down Payment

Show Home Hours

11am - 4pm Monday - Sunday 7805 Dallas Drive • 250-573-2278 30 ❖ First-Time Home Buyer's Guide 2013/14

• Well appointed, energy ef¿cient homes • Wonderful community • Bus service in front • Close to amenities • Beautiful landscape plan • Community garden area • Flexible ¿nancing

RJ TOOR 778-220-7653

RJ says Congratulations on your decision to become a homeowner!

Buying a home is one of the most exciting — and important — moments of your life. Your home is not just the roof over your head, where you live, eat, sleep, play, and raise a family; it’s also one of the most important investments you’ll ever make.

As a first-time homebuyer, it’s important that you find someone you feel completely comfortable with, who you can trust, and who listens to you and respects your views.

They have the market knowledge and expertise, but at the end of the day, it’s your home and your investment, so you must be able to work well with your agent.

RJ is an experienced, professional RE/MAX agent who understands and excels at this.

A few of the reasons to choose RJ to help you through the process...

• Provides you with the highest standard of care and extreme loyalty to you as the client.

• Understands your specific needs and wants, and locates appropriate properties.

• Assists you in determining how much you can afford.

• Helps you get pre-approved for your mortgage.

• Previews and/or accompanies you in viewing properties • Believes the whole process is all about you • RJ has 25 years of sales and negotiating experience which he will put to work for you • RJ uses all the latest technology and tools to help you with your purchase Call or email RJ for your Free First Time buyer’s guide. This guide explains the complete step by step process to purchasing a home.

Choosing the right REALTOR® does make a difference!

rjtoor.com | rjtoor@remax.net First-Time Home Buyer's Guide 2013/14 v 31

Advice you can bank on™

BUYING YOUR FIRST HOME? LOTS OF QUESTIONS? WE’VE GOT ANSWERS. à Professional consultation — free professional advice, seven days a week, at a time and place most convenient to you à On-the-spot mortgage pre-approval

LEE ANDREWS Mobile Mortgage Specialist

JULIA DEBRA SUSAN HOLMES CLEARWATER HUTCHINSON Mobile Mortgage Specialist

Mortgage Specialist

Mobile Mortgage Specialist

778-257-7099 250.299.9451 250-320-2426 250-319-7260 lee.andrews@rbc.com Julia.holmes@rbc.com Debra.clearwater@rbc.com susan.hutchinson@rbc.com mortgage.rbc.com /lee.andrews

mortgage.rbc.com /julia.holmes

mortgage.rbc.com /debra.clearwater

mortgage.rbc.com /susan.hutchinson

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