THURSDAY, AUGUST 11, 2016
VANCOUVER EASTSIDE
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R E A L E S TAT E W E E K LY
Should Being Mortgage Free Be Your Plan for Retirement? By Alisa Aragon, mortgage expert
I
f you are like most people, you probably believe that being mortgage free is your best plan for retirement. That means paying off your mortgage as fast as possible becomes your priority and having other forms of investments are considered only after your property is paid off. But this is not necessarily the best approach. It is important to decide which options will give you the balanced diversification to protect you from real estate market and economic fluctuations. Many Canadians think of retirement as time filled with traveling, spending more time on hobbies and interests. But in order to be able to do that, there are a lot of factors that need to be taken into consideration when planning for your retirement. Too many Canadians are thinking of their current financial needs and not as much about
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retirement until the later years. There has also been an increase in life expectancy as health-care technology is advancing. Canadians are more aware about their health and are taking better care of themselves, which means seniors are living longer. As a result, seniors now have to save more for their retirement than their predecessors. It is important to have a retirement strategy that works for you by exploring different ways that work with your lifestyle and goals. One strategy is to be mortgage free, so that you will have minimal property expenses when you retire and have 100 per cent of the value of your home in equity. You will then have extra funds when you decide to downsize to a smaller home. But, by putting all of your eggs in one basket, you could be limiting the ability to use other investment options that could give you a higher return on investment, and would help you achieve your retirement goals faster.
Real Estate Deals Collapse as Foreign Buyer Tax Takes Effect: Local Agents
Alternative Strategies By focusing on making extra payments towards your mortgage or increasing your payments regularly, you will shorten the life of your mortgage, yet you are not investing as much as you could into your RRSPs. Here is the best of both worlds. By investing in your RRSPs, you pay less tax and you’ll get a refund and with that money you could make a lump-sum payment on your mortgage every year. Another option would be to put the equity in your home to work for you by using a HELOC (a home equity line of credit). This will give you access to your equity whenever you need it and would be a perfect investment vehicle. Having a HELOC separate from your actual mortgage gives you the flexibility to use it for investment purposes. Therefore the interest you pay on funds that are drawn from the home equity line of credit are tax deductible. Here are some investment ideas: Use
Home Sales in the Fraser Valley Fall but Demand Stays Strong: FVREB
the funds from the HELOC to purchase an investment property, and with the rental income you could cover the mortgage payments and property costs. The rental property would then pay for itself and you have vehicle to help with your retirement goal.
The Smith Manoeuvre Another idea is doing the Smith Manoeuvre. This means using the HELOC for short- and long-term investments. If you do short-term, these would be highreturn investments that when cashed, help you pay off the line of credit. Any extra money you have made will allow you to make a lump-sum payment on your original mortgage. Since life expectancy has increased, long-term care costs need to be taken into consideration. Pensions are low and most people are not saving enough for retirement. A comprehensive strategy can be put in place by working with your mortgage expert, financial adviser and accountant.
BC Not Alone in Seeing Foreign Real Estate Investment: US Realtor Association
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Bob Bracken
604.263.2823
bobbracken.com bob@bobbracken.com
Real Estate Services Each office independently owned and operated.
410-650 W 41ST Avenue, Vancouver, BC V5Z 2M9
Real Estate Investment Think Bob Bracken
CITY HALL MULTIFAMILY BLDG ON BIG LOT KITSILANO NORTH OF 4TH MULTIFAMILY BLDG MAIN / FRASER CHARACTER FOURPLEX SOLD OPEN 4+ 6+ NORTH 4 OVER SAT UNITS! UNITS! OF 4TH UNITS! ASK! 2-4!
225 WEST 15TH AVE
3536 WEST 1ST AVE
*** NEW LISTING! *** 506 EAST 43RD AVE
• Edwardian Character Multifamily Bldg, 4361 SF, 4+ Units • Suite Mix: 1X1 Bdrm, 2X1 Bdrm & Den, 2X2 Bdrm • Big 50’X125’ RT-6 Lot, Gr Inc $91,000, Excellent Condition • Investors, Owner-Occupiers, Developers Asking $2,988,000
• Kitsilano, Big 3700 SF Character Multiplex, 33’X122’ RT-8 • 1st Class Loc, Mtn Views, 1 Block to Beach, Double Garage • Gr Inc $125,688/yr, Great Tenants & Suite Mix, 6+ Units • Investors, Owner-Occupiers, Developers Asking $3,339,000
• Char 4 Suites, 3483 SF, 3 Lvl Multifamily Bldg, Great Cond • 2 Bdrm Owner Suite, 3X1 Bdrm Suites, 5 Meters, 3 Furnaces • $2750/mo mtg helper, Pot Inc $5550/mo, Corner RM2 LOT • Investors, Owner-Occupiers ,Developers Asking $1,798,000
MOUNT PLEASANT LEGAL TRIPLEX
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HOUSES WITH SUITES DUPLEX, TRIPLEX, FOURPLEX 5PLEX, 6+ UNITS APARTMENT BUILDINGS LAND FOR RE-DEVELOPMENT IF YOU ARE THINKING OF SELLING OR BUYING INCOME PROPERTIES CALL BOB BRACKEN 604-263-2823
4 UNITS!
628 EAST 12TH AVE
2670 - 2680 WOODLAND DRIVE
• Big 4 Level, Great Character Legal Triplex, 2728 SF • Suite Mix: 2 lvl 3 Bdrm, 2X1 Bdrm, 33’X122’ RT-5 Lot • Gr Inc $48,000yr, Fenced Yard, High Ceilings, Views • Investors, Owner-Occupiers, Developers Asking $1,398,000
• Commercial Drive, Side-by-Side Strata Duplex w 4 Suites • Each Side has Top Flr 3 Bdrm Unit & Main Flr 2 Bdrm Unit • Total 3568 SF, Gr Inc $79,980/yr, Corner 50’X122’ RT-5 Lot • Investors, Owner-Occupiers ,Developers Asking $2,498,000
HOUSES DUPLEX TRIPLEX 4PLEX 5PLEX 6+ UNITS APARTMENT BUILDINGS DEV SITES
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604-275-9787 patsy@patsyhui.com WESTCOAST
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6688 CULLODEN STREET Lovely 2204 sqĘź BRIGHT & SPACIOUS family home in desirable SOUTH VANCOUVER location. 9Ęź ceiling on main oor. MAPLE FLOORING in living & dining room. MAPLE CABINETS & GRANITE COUNTERTOPS in kitchen. Gas ďŹ replace in living room. TILE ROOF & RADIANT HOT WATER HEATING THRU-OUT. 3 bedrooms, 2 full baths on main. Downstairs has a 1-BEDROOM SUITE & 2-BEDROOM SUITE WITH SEPARATE ENTRANCE. Close to transit & schools. A pleasure to show!
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*Some conditions apply. The Annual Percentage Rate (APR) is for a mortgage of $100,000 with monthly payments and a 25-year amortization, assuming no fees apply. If fees and/or charges apply, the total Cost of Credit and APR would increase. This promotion is subject to member(s) being approved by Prospera Credit Unionâ&#x20AC;&#x2122;s lending guidelines. Limited time offer. **Mortgage must be approved by September 30, 2016 to qualify. Offer and rate may be changed, extended, or withdrawn at any time without notice. Available O.A.C.â&#x20AC; Prospera will reimburse up to a maximum of $1,000 the discharge fee charged by the memberâ&#x20AC;&#x2122;s current ďŹ nancial institution and/or any new legal and appraisal fees. For full details on the myStyle mortgage and Prospera Perks, please visit www.prospera.ca, talk to us at a branch or call 1.888.440.4480.
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Each office independently owned and operated
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“Your East Vancouver Real Estate Experts!” 1785 E.14TH AVE.
$1,149,900
Lisa MacIntosh
3•
Diane Kunic-Grandjean
STEPS AWAY FROM TROUT LAKE, SOUTH FACING FRONT ½ DUPLEX – 3 BED UP, 2.5 BATH & DETACHED GARAGE This is not your usual South facing ½ duplex: step inside to a well-laid out floor plan offering a refreshingly expansive living room with fireplace, a dining area able to host numerous guests & a wonderfully appointed kitchen with shiny white cupboards, s/s appliances & beautiful black granite countertops. The top floor will wow you with its 3 bedrooms & 2 bathrooms of unusually ample size – especially the master bed & its ensuite! Fantastic amount of natural light throughout, storage galore & a powder room on the main floor. BONUS: detached garage turned into a storage & office space! Feel right at home with its Westcoast flair, covered porch, large front garden and a short walk to Trout Lake & its Farmer’s market.
1925 CRAFTSMAN BEAUTY IN THE HEART OF KITSILANO – 4 BED, 2.5 BATH W/LEGAL SUITE 3444 W. 5TH AVE.
$2,950,000
Sitting across from McBride Park in the heart of Kitsilano, this 1925 Craftsman offers yesterday's cachet with today's comfort. Beautifully restored character home with all of the original Fir trim work lovingly refinished. The foyer's wainscoting sets the tone for the main floor: a spacious front reading room/den, a large living room with fireplace opening onto a dining room designed for entertaining. In the mood for a BBQ? Open your French doors and step onto your gigantic South facing deck! Upstairs offers 3 sizeable bdrms, the front bdrm has a unique attached crafts room. BONUS-a full height basement with a self-contained 1 bdrm suite (done with permits) with its own south facing patio. The front & back gardens are enjoyed from every window, creating an Urban Oasis on this 46x120 lot.
VERY UNIQUE 1 BEDROOM CORNER UNIT OF 702 SQ.FT. W/ FANTASTIC & PRIVATE OUTDOOR SPACE! 107-925 W. 15TH AVE.
$484,900
Set on the quiet North East corner, this 720 sq.ft. split-level 1 bedroom shares only one wall with its neighbor & is sure to impress you with a functional U-shaped self-contained kitchen, sizeable bedroom offering 2 closets & a window overlooking your very own deck. Step up to a sun-filled open concept space with beautiful Brazilian hardwood flooring throughout, a dining area easily hosting 10 people without forgetting an ample living area with a woodburning fireplace. UNIQUE BONUS: your very own private semi-covered wrap-around deck of nearly 300 sq.ft. overlooking the yard of a house! Where do you get this in the city? Insuite laundry, 1 parking, 1 cat or 1 dog (max 40lbs). All balconies done & depreciation report available. A delight to show!
TROUT LAKE & THE DRIVE – FANTASTIC FRONT ½ DUPLEX - 3 BED & 2.5 BATH! 1656 East 13th Avenue
$1,149,900
Fabulous front 1/2 duplex on a 33x127 lot, a stone throw away from Trout Lake and The Drive! It has it all: 3 spacious bed on the upper floor, including a master bed with large window with North Shore Mountain views, a newly renovated en-suite and 2nd full bath with jetted tub. The main floor offers a unique layout: very airy, spacious living room with substantial ceiling height, gas fireplace and a bay window overlooking the front yard. Sizeable dining area easily welcoming a party of 8, adjacent to a well-appointed U-shaped kitchen with plethora of storage and granite countertops. Separate large pantry-laundry room. Enjoy the front & side gardens which sizes can rival that of a house. New windows throughout, new fence & front stairs. Transit, Restaurants, Fun, Parks all at your doorstep. This is East Van living at its best!
HASTINGS SUNRISE UNIQUE 1914 CRAFTSMAN BUNGALOW IN SUPERB CONDITION 2733 FRANKLIN ST.
$1,699,000
What a beauty! Welcome to this 1914 Craftsman Bungalow Heritage "B" lovingly & patiently restored to its current glory! The large foyer gives the tone w/its beautiful wainscoting, 9'4" ceiling height & hwd flooring. Cozy up by the fireplace in your comfortable lvg rm drenched by natural light, host your loved ones in the adjacent large dng room while marvelling at the Tudor ceiling & superb built-in dresser. The 3 sizeable bed & charming 1,5 bath w/claw foot tub will house your family for a very long time. Airy modern kitchen & eat-in area from which to access a lush fenced backyard & detached garage. The bsmt offers 2 bed suite & a large separate area which could be a rec/family room for you. A unique gem in beloved Hastings Sunrise!
L i s a M a c I n t o s h Te a m - D e x t e r A s s o c i a t e s R e a l t y Medallion Club - Top 10% of Realtors in Greater Vancouver Photos & Visual Tours at: www.lisamacintosh.com Email: lisa@lisamacintosh.com Tel: 604-263-1144
Crest Realty
www.dexterrealty.com
604.988.8000
604-689-8226 Yaletown 604-336-3539 Main Street 604-263-1144 Kerrisdale 5168 RUBY ST
$1,328,800
A solid and well maintained home from the 1950's. This home is in very good shape and would make a great starter home or rental investment (suite potential). A large lot size for the area (50ʼx103ʼ). Rezoning in the Joyce / Collingwood area for higher density would make this a good holding property for future redevelopment. Quiet street close to major shopping and transportation. ROBIN HILL & GRACE KREYKENBOHM 604-340-4000 778-998-4523
104 – 228 E14th Ave
Taking our Listings Global $599,000
WATERFRONT LIVING!
$365,000
RENOVATED VIEW CONDO FABULOUS PATIO
★
OPEN SAT/SUN 2-4PM HUGE GARDEN PATIO!
• Unbeatable location! • A new life? • A new relationship? • A new baby? • Rarely available! Philip Rogers 604-808-4623
Waterfront VIEW condo along the Fraser River! Spacious 1 bed with huge patio and lots of modern updates! In-suite storage, laundry, parking. Well-maintained RAINSCREENED freehold building with resort style amenities! Steps to transit, parks, river walkway. A Must see! Call to view. 108-2020 E.KENT AVE S. LORI PETTIGREW & ALAN YASIN 604-649-7040
Amazing value! Location second to none! Original family home and never been up for sale. Immaculate, bright, well maintained 3 bdrms, 2 bathrooms home all done right the first time. Fully finished downstairs. Original gleaming hardwood floors, some updates, roof 15 yrs approx., double glazed windows, 2 wood f/p, hot water heat on demand. Double garage and covered carport. Located in quiet and safe and yet a walk away to everything important in the area. Call me immediately for more information.
3255 East 7th Avenue, Vancouver
OPEN HOUSE SAT/SUN 1-3 PM
NEW LISTING
$1,399,000
CALL MARIO NOW FOR SUCCESS - AND DON’T WORRY, YOU’LL BE HAPPY!! Pager: 604-988-8000 www.mariodaroza.com Email: mario@mariodaroza.com
â&#x20AC;˘4
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Over 35 years of experience in selling and custom building houses in B.C. 15 years Diamond Master Medallion Club Member, Top 1% President Club Award of All Realtors in Real Estate Board of Greater Vancouver.
BALDEV SANDHU & JULIANA HO TEAM Top New Home Construction Award
Free Market Evaluation. Sell your house fast. Custom build your dream house.
Diamond Master Medallion
BALDEV SANDHU 604-880-9571 www.BaldevSSandhu.com DaveSandhu@royalpaciďŹ c.com
MASTER
JULIANA HO 778-869-9688
ROYAL PACIFIC
www.JulianaHo.com Juliiho@gmail.com
R E A LT Y
Vancouver East, Collingwood
Vancouver East, Collingwood
Vancouver East, Victoria
Side by Side Duplex, BRAND NEW 2 storey with basement
SxS Duplex BRAND NEW 2 storey with basement
Presale, Build to Suit - 3 storeys plus LWH
2359 & 2355 East 41 Avenue
5508 Dundee Street and 5502 Dundee Street
$1,228,000 - A south facing S x S 1/2 duplex, 3-storey, spacious 1975 sf with finest built - 5 bdrms, living room, family room & kitchens
OPEN HOUSE SAT & SUN 2-4 PM
NEW LISTING
- Granite countertop, hardwood floor, maple wood kitchen cabinets - Radiant heat & HRV system, high efficiency heating system, garage
- A quality built 2000 sf duplex under construction - 3 bedrooms above, living room, dinning room, kitchen, OPEN HOUSE 2 bedroom suite in basement SAT & SUN 2-4 PM - 3.5 bathrooms, granite countertop, maple wood cabinets, hardwood floor, HRV system, inter-telecom 5508 5502 $1,215,000 $1,250,000 Single garage
NEW LISTING
2073 East 27th Avenue $2,180,000 - A fabulous South facing in Victoria
NEW LISTING
area - Total area 3250 sf on lot size 33 x 118.50 - 2 storey with basement plus LWH - Granite counter top, maple wood cabinets - Radiant heat, HRV and security system - Buyer to provide own plan & choice are welcome
Vancouver East, Grandview
Vancouver East, Collingwood
Vancouver East, Collingwood
Front & Back 1/2 Duplex
Duplex lot for sale
Single family in 2 storeys
2118 Graveley Street
5651 Earles St Vancouver
$1,310,000 A brand new ½ duplex, is almost finished at a desirable area of Grandview neighbourhood. This 2-storey, 1206 sf unit with detail finishing and mordern design; living area, dining area, kitchen, 3 bedrooms at above, 2.5 bathroom, granite counter top, single garage.
Susan Ninow Personal Real Estate Corporation
OPEN SAT 2-4!
5512 Dundee Street
$3,200,000 Builder or investor alert! A duplex lot, RT11 zoning, lot size 60 x 117 ft, ready to build 4 duplex each 1500 sf, building plan already submit to the City for approval. Existing is an very beautiful 10 years new house. Good to keep and build later. Donâ&#x20AC;&#x2122;t miss!
NEW LISTING
NEW LISTING
$930,000
- First time buyer alert! strata fee
No
- A single family infill in 2 storeys, - 1330 sf living area features 3 bedrooms, 2.5 bathroom, kitchen, living room
OPEN HOUSE SAT & SUN 2-4 PM
- Open parking - Donâ&#x20AC;&#x2122;t miss!
604-909-0111 www.SusanNinow.com Susan@SusanNinow.com TOP 10 OF ROYAL LEPAGE NATIONAL NETWORK OF REALTORS
NEW LISTING
Westside 604-263-8800 201-2107 West 40th Ave.
MASTER 6 Years
Renovated Vancouver Special! 549 East 56th Ave $1,498,000
NEW LISTING
Centrally located between Main and Fraser, in the emerging S. Vancouver neighbourhood. Stroll to the Fraser St Village to the green grocer and restaurants! Walk to Sunset Community Centre & Sunset Park! Featuring 2104 SF, 5 Bedrooms, 4 bathrooms! The 2 levels have been renovated with granite kitchen tops, cabinets, ďŹ&#x201A;oors. Perched high on the street, with a wonderful VIEW of South Vancouver and Richmond! Ideal 2 bedroom suite can be used for the in-laws or extended family! Enjoy the large 208 SF Deck! Bonus-Attached 2 car 506 SF Garage! just an quick drive to Langara, West Side, downtown, UBC, YVR & Richmond. View www.SusanNinow.com/404. Call Susan for your private viewing!
Modern Vancouver Special! 4775 Victoria Drive $1,498,000 Kensington-Cedar Cottage ONE-OWNER family home! Featuring exceptional living space with over 2350 SF of comfort on 2 levels! Fabulous space for your extended family with 5 Bedrooms, 4 Bathrooms. Great Potential for 2 mortgage helpers! Boasting toasty radiant heated ďŹ&#x201A;oors & 9 Foot high ceilings. Bonus-DOUBLE HEIGHT Attached Garage for all the Car Guys! Ready for you to move in! Just steps to shopping and Vancouverâ&#x20AC;&#x2122;s 2nd Chinatown in this new up & coming Victoria Drive Neighbourhood! Steps to transit, restaurants, groceries and banks! Be anywhere in 10-15 min! View www.SusanNinow.com/402. Call Susan for your private viewing!
â&#x20AC;&#x153;Results through Experience and Integrityâ&#x20AC;?
Rent Incomal e!
Sun Open 2-4
IN PRINT AND ONLINE
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$1,588,800
Vancouver Rentals are in demand! Your investment will pay for itself! Legal, non-conforming 2-family home, over 3000 sq.ft., 3 suites total, all above ground level. Located on a 40.9x110 lot in a quiet neighorhood close to shopping, Sky Train and schools. Renovated 2011, views from top ďŹ&#x201A;oor, spacious back and side yards. Must see to appreciate!
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MOVE IN THIS YEAR!
Higher Living. Higher Learning. Nestled on the hillside at Simon Fraser University, Veritas by Polygon is a limited collection of one plus den and two bedroom apartment residences in the unique campus community of UniverCity. Enjoy mountainside living in an environment of academia and nature, with move-ins this year! Two bedrooms priced from $389,900
8999 Cornerstone Mews, Burnaby Open Noon to 6pm Daily (except Friday) 604.298.9965 veritas@polyhomes.com
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Beautiful spacious cottages in a natural setting, an exclusive clubhouse with pool, and abundant recreational possibilities makes Bridal Falls a one-of-a-kind resort ownership opportunity in Canada
IF YOU’RE READY TO DOWNSIZE, BUT NOT READY FOR A CONDO, OR LOoKING TO PURCHASE a second home getaway, WE have it all. COTTAGE SHOW HOMES OPEN DAILY 11 - 4 53480 BRIDAL FALLS RD, BRIDAL FALLS, BC 604.745.4104
224,900
DiscoverBridalFalls.com
Intelligent living BY ZENTERRA DEVELOPMENTS
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VANCOUVER EASTSIDE
THURSDAY, AUGUST 11, 2016
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R E A L
E S T A T E
W E E K L Y
Vancouver Policy Changes to Affect New Housing Developments
V
ancouver City Council last month approved a new housing mix policy for rezoning projects and the Zero Emissions Building Plan, both of which will usher in changes to new housing development in the city.
New Housing Mix Policy The housing mix policy increases the required minimum supply of family units to be included in all new strata and rental buildings created through rezoning. Previous policy typically targeted a minimum of 25 per cent two- and three-bedroom units in new strata and rental buildings. The new policy, approved July 13, requires a minimum 35 per cent family units (25 per
cent two-bedroom and 10 per cent three-bedroom units or larger) in residential strata projects, and stipulates a minimum target of 35 per cent two- and three-bedroom family units in secured market rental buildings. “Vancouver is growing and we need more housing built for families – historically the city didn’t ensure enough was built to meet demand,” said Mayor Gregor Robertson in advance of the council meeting at which the policy was approved. “This important policy will help make our neighbourhoods more family friendly and vibrant, and ensure that as Vancouver grows, families can find housing options that work for them.” City staff’s
presentation to council noted that 8,000 families in Vancouver were living in studio and one-bedroom homes in 2011, and that since 1991, only five per cent of net additional housing has had three bedrooms. The new policy applies to all new rezoning projects, but the director of planning may relax the requirements in certain exceptional cases.
Zero Emissions Building Plan Council also approved a phased approach to reduce carbon emission from newly permitted buildings by 70 per cent by 2020, 90 per cent by 2025 and 100 per cent by 2030. The plan mandates all new buildings to be built to a zero-emission standard like the Passive House standard or to connect to a neighbourhood energy utility to increase
renewable energy supply. Council also approved building all new city facilities to a zeroemissions standard and developing tools to support the public sector to do the same. City staff will work with community and industry stakeholders to create a Zero Emissions Building Centre of Excellence to allow builders, developers, designers and homeowners to share information and lessons learned. The plan, which city manager Sadhu Johnston called “ambitious yet achievable,” is the first major policy change following the city’s adoption of the Renewable City Strategy in November 2015. The strategy commits the city to derive 100 per cent of its energy from renewable sources before 2050.
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