There are reasons to rent your suite, but there are also reasons not to rent your suite.
Understand the Tenancy Act and plan ahead of selling a tenanted property.
In my opinion, no.
Is truss uplift a carpentry problem or a drywall problem….more like a physics problem.
A lot cheaper and lot easier to repair in the event of a failure.
I am predicting relatively flat, but who knows?
Some buyers may find it more difficult to complete on contracts with the new mortgage rules kicking in January 1st, 2018.
Advantages of having a suite above a garage versus in your basement!
The numbers are all over the place!
Consumers seem to be more interested in the colour of the kitchen than the actual quality of construction.
In my opinion, instead of spending your money inspecting during construction or on completion a better choice would be to inspect the home before the various 2-5-10 year stages of the warranty expire.
If I had any clue I wouldn’t be selling real estate.
Update for 2017 – In terms of construction costs (land excluded) you can build a solid home for approximately $150 to $160 per square foot. At $200 per square foot you should be getting into a very nice home and beyond $300 per square foot is for the pure custom homes. Prices can be dramatically affected by type of building lot, heating system, and finishing. For example, you can spend $8,000 on Milgard windows or $40,000 on Pella windows. Pricing can also vary by municipality and make sure to add the square footage of the garage into calculations.
Personally, I’ve had good experiences renting my units furnished for several reasons outline in the video.
What no one has bothered to bring up is garden suite building permits will require a BC Housing owner-builder authorization which involved an impossible to pass exam, so good luck with the process 🙂
Evaluating a buyer demographic is important in sale, but the problem in real estate is all buyers whether young or old are using the same tool to find a home; MLS®.
In my opinion this is the most exciting pre-sale since the Encore by Bosa!
2016 was a crazy year…..what will 2017 bring?
With the parking crunch, downtown Victoria parking spots will become increasingly valuable!
Depending how fast the market is appreciation you could potentially be losing money on your suite each month, if you have to pay capital gains on the portion of the home which is your suite.
***THIS IS NOT TAX ADVICE, CONSULT A PROFESSIONAL ACCOUNTANT***
When shopping for houses, it helps to treat them as direct substitutes such as Coke and Pepsi. If you are set on Coke and won’t consider Pepsi you are more likely to make a bad financial decision.
What do I personally look for?
As a REALTOR® it is not very difficult to influence your average online REALTOR® review.
Assuming the city zoning allows for Airbnb and the current bylaws don’t restrict vacation rentals is there really a legitimate need to amend the bylaws to restrict Airbnb and vacation rentals?
Why doesn’t the government crack down on strata corporation that don’t allow any rentals in their complexes? Because it wouldn’t be a popular political move. Housing inventory used for Airbnb or vacation rentals is well below 1%; therefore, there isn’t too many people to piss off with the crackdown from a political perspective.
It’s still hot.
Tesla shows that the traditional model is not always the best model.
It really doesn’t make sense to cancel a mere posting and re-list for a lower price with a full commission brokerage!