Home Selling Blogs – Kelowna

Home selling advice for Kelowna, British Columbia residents.

Found 29 blog entries about Home Selling Blogs – Kelowna.

Capital Gains Tax in Canada

Capital gains tax is the tax you pay on profit from selling property or investments. In simpler terms, this tax directly affects how much money you'll keep after selling your home.

In Canada, only a portion of your profit (currently 50%) gets added to your taxable income. This means if you sell an investment property and make $100,000 profit, only $50,000 gets taxed. The actual tax you pay depends on your income bracket. Higher earners pay a higher percentage on those profits.

The Principal Residence Exemption lets you sell your main home completely tax-free, which means capital gains tax becomes especially important for people with a second home or an income-earning property.

If you're getting ready to sell a home that may be eligible for

1,507 Views, 0 Comments

How to Sell Your Home in a Buyer's Market

Selling your home when buyers have all the power? Not fun. In a buyer's market, supply exceeds demand—meaning too many houses and not enough potential buyers.

But don't worry! The right price and smart marketing can still attract buyers to your property.

Working with a good real estate agent makes all the difference in tough market conditions. They'll help you navigate these challenging real estate market trends.

So what can you do to make sure your house doesn't just sit there while others sell?

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Quick Tips to Save for Later

  • Find a real estate professional who knows how to sell in tough
3,417 Views, 0 Comments

Pros & Cons of Selling FSBO

Is selling your house in British Columbia without a real estate agent the key to a profitable sale or a potential disaster? On one hand, you can save on commission fees and maintain full control over the process. On the other, you may face limited marketing reach and the challenge of pricing your home competitively—two of the keys to marketing your home to sell. Steering through these waters requires thorough preparation and strategic planning. 

Have you considered the pros and cons between cost savings and potential pitfalls? Understanding the intricacies of BC's real estate market is the key to a successful sale. Dive in and discover whether selling your house without a real estate agent is right for you. 

For informational purposes only.

2,623 Views, 0 Comments

Should I Sell My Old Home or Rent It Out?

Deciding to sell or rent your property involves a complex set of decisions. On the one hand, renting out your old home could offer a steady income stream and potential appreciation, but it also means landlord responsibilities and susceptibility to market fluctuations. Plus, in order to secure a mortgage for your new house, you’ll need to keep your debt-to-income ratio in mind. Selling, meanwhile, can provide immediate funds but might not maximize your property's value. How do tax implications, financial goals, and lifestyle ambitions weigh into this decision? It's essential to assess these factors thoroughly to determine the best path for your situation.

For informational purposes only. Always consult with a licensed real estate professional before

2,339 Views, 0 Comments

What Is a Special Levy in a Condo?

When you own a condo, you might encounter a special assessment, an additional fee your association can impose for unexpected expenses. These assessments, also called special levies, typically result from significant repairs or upgrades exceeding the regular budget. Understanding how these fees are calculated and what they mean for your ownership is essential. If you're wondering what could happen if you don't pay a special assessment or how special assessments impact your investment, keep reading to uncover the implications for you and your property.

5 Things to Know About Special Assessments

  • A special assessment is an additional fee condo associations impose for unexpected expenses not covered by reserve funds.
  • Each unit owner's assessment
553 Views, 0 Comments

Paperwork Associated with a Home SaleThe paperwork is one of the most confusing parts of the home-selling process. Selling real estate is a process that requires extensive documentation, much of it written in confusing legal language. Knowing what to expect when you sell your home can quell any nervousness about the selling process and help you make the right decisions when trying to sell. Once you understand it all, preparing the right paperwork before putting a home on the market can help make the process smoother and more efficient.

Listing Contract

A listing contract is an agreement that you make with your listing brokerage. Once signed, the contract cannot be broken or taken back unless specified in the contract. The listing contract names the responsibilities of the licensee

12,509 Views, 0 Comments

How Buyer Motivations Influence the Sale of a Vacation HomePlanning to sell a vacation home can be an exciting time. However, there are a few differences when selling a vacation home that sellers should be aware of, as the process differs from selling a primary residence. Those who have only sold their primary residence in the past may be surprised at how buyers approach the purchase of a vacation home. Sellers who understand the minds of vacation home buyers may be able to more easily motivate an approved potential buyer to make an offer. Get inside the minds of potential vacation home buyers and speed up the sales process today.

Vacation Home Buyer Profile

Surveys over the years have provided a number of details that may be useful for sellers of vacation homes, though like the primary residence market,

1,420 Views, 0 Comments

How Do I Start an Alberta Short Sale?Short sales in Alberta are typically undertaken by homeowners looking to prevent their home from going into foreclosure. However, not everyone understands how they work or what they ultimately mean for the sellers of the property. From credit scores to final sale price, find out more about how Alberta short sales operate for the lenders, buyers, and sellers.

For informational purposes only. Always consult with a financial advisor before proceeding with any real estate transaction.

Striking a Deal with the Lender

When a home is getting ready to go into foreclosure, it's the lender's job to take back the property and sell it. The lender is in the business of finance—not in the business of real estate. The last thing they want to do is hire a

5,816 Views, 0 Comments

What Do I Need to Disclose as a Home Seller?Home sellers may have very different ideas about what they need to share with potential buyers. Some may want to give the buyers all the information they could ever want to know, while others would prefer to keep the conversations to the bare minimum. It's why local legislators decided to impose a few guidelines to protect the buyers and promote honesty among the sellers. Those getting ready to put their home on the market and market it to sell should keep the following in mind.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Types of Disclosure Documents

A disclosure document is one that lists the defects of the home straight from the sellers' mouth,

1,411 Views, 0 Comments

4 Buyer Red Flags All Sellers Need To KnowSelling a home is a big endeavour that no homeowner takes lightly. But sometimes, finding a buyer can be difficult. If the market is cold, that can make homeowners feel like if they don’t sell to the first person who makes an offer, the home won’t get sold. This is a common but misinformed mindset because not every buyer is a good buyer, and sellers need to be aware of the signs that a buyer may cause trouble and hurt the sale of the home. Here are some telltale warning signs that all sellers need to know when considering offers.

For informational purposes only. Always consult a licensed real estate professional before proceeding with any real estate transaction.

The Buyer Is Only Pre-Qualified For a Loan

When setting out to buy a new home,

1,181 Views, 0 Comments