If you spend most of the winter outside Canada, you may want to explore the opportunity to rent out your Canadian home while you’re away. 

Renting out your Canadian residence can have a number of benefits, including helping to cover the costs of your winters away. The extra income can be used to supplement or even offset the cost of your winter home or rental. Another benefit is that your home will be lived in and therefore you won’t have to find someone to inspect it daily or every other day, to meet your insurance requirements.  Finally, your home will be occupied, which will deter break-ins, and any damage due to non-use, such as your pipes freezing or bursting, and other risks.

However, renting out your home isn’t for everyone. You have to be

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So how does everything effect the real estate market?

The B.C. government’s 2020-2021 budget envisioned about $1.6 billion in revenue from the property transfer tax, and the real estate sector, which employs tens of thousands of people, is worth more than $22 billion annually to the province’s GDP, according to the industry

Follow This Simple Recipe to Safely Age in Place

Written by Karen Weeks for Kamloops Property For Sale.

Most of us want to remain in our homes throughout our senior years. Thankfully, there are often simple home modifications to help turn that goal into reality. Here are some key ingredients in creating or finding an appropriate home for aging in place.

Older and Better

As the general population ages, the housing market is working to keep up, and many people are choosing to remain in their homes throughout our golden years.

In order to realize that goal, many people are making their homes more accessible to accommodate the changes minds and bodies experience with age. Some people are referring to the trend as “aging in place,” some call it

Guest article written by Karen Weeks from www.elderwellness.net

Aging in community is a popular way for seniors to focus on their health by staying active and social, but what exactly is it?

The definition can vary from person to person, but generally it simply means living at home or in a senior community that isn’t assisted by nurses or other caregivers. For many seniors, this is a big deal, as it means that they can continue to make decisions for themselves and live life on their own terms.

“As a matter of fact, a growing number of baby boomers are turning to shared living as an aging in place housing option. A 2014 AARP analysis of census data found approximately 132,000 households and 490,000 women over the age of 50 living with non-romantic

Eighty-eight percent of people 65 and older wish to age in place, according to an AARP survey.

For many people, this will involve staying in the home in which they have been living for many years. For others, it may be necessary to move into a new senior-ready home. Either way, this will probably involve some work as you strive to create an environment that allows you to live comfortably and independently.

Buying vs. Renovating

Many people’s current house may not be ideally suited to their needs as a senior citizen. Some people may live in old family homes that have become too large for their needs, while some have layouts that are not designed for the comfort of elderly people. For instance, according to Forbes, 60 percent of homes occupied by

Now that the kids are grown and moved away, do you really need all that square footage in your home?

While it’s nice to have a little extra space for entertaining guests, a house that’s too big just becomes a hassle to maintain. And if you’re like most people, you probably don’t want to spend your retired years racing to keep up with chores.

That’s one of the reasons downsizing in retirement is so popular with the Baby Boomer generation. Nearly 40 percent of adults aged 50 to 69 plan to move in retirement, and of those, 54 percent of those plan to downsize into a house that’s either smaller or cheaper than their current home, or both.

Despite the appeal of a more manageable home, many seniors are scared away from moving because of the effort it

Online Learning Opportunities for Your Golden Years

Written by Karen Weeks for Kamloops Property For Sale.

Your senior years are a time not only for savoring your accomplishments but also for embracing new challenges. Thanks to technology, options for personal growth and learning are just a mouse click away.

 Opportunities abound.

The internet isn’t just for younger people, and thanks to the ever-expanding number of resources available your options for what you can discover are nearly unlimited. Your need to grow, connect and learn continues throughout life, and now you are free from the requirement of learning to satisfy a job or to earn grades. If you think you aren’t qualified or are intimidated by using the internet for learning, don’t be.

FAQ Sheet on Getting a Mortgage

Getting a mortgage is a big thing. For first time buyers this can be a tough and complicated process. Here are some common questions that get asked and some answers that may help with your mortgage application process.

SEE OUR MORTGAGE BROKER DIRECTORY HERE

Q: What is the minimum down payment on a home in BC?

A: A minimum down payment for someone who is fully income qualified is five per cent. However, if the purchase price of a property is over $500K, a minimum down payment of five per cent on the first $500K is required. After that, you will be required to come up with 10 per cent on the remaining amount. For example: The down payment for a property valued at $600K would be five per cent of $500K ($25K) plus

As many Baby Boomers near retirement age, the stage is set for social shifts nearly as dramatic as the ones that shaped the 1960s – shifts that are already affecting housing patterns. People in their late 50s and 60s will be asking themselves important questions about the suitability of their living situations to changed professional, personal and financial circumstances – and the current market offers a number of intriguing possible answers to those questions.

Of course, one of the wonderful things about home ownership is the way we become attached to the places we own, especially when we’ve raised our children in them. In some cases, that attachment will trump any other considerations. However, those other considerations can be very persuasive,

Downsizing to a condo in Kamloops

There’s a big trend in real estate right now, and it will continue for the foreseeable future. This trend is for empty-nesters and baby-boomers to sell the large home with the goal of downsizing to a condo. Many owners are finding themselves in 3, 4 and more bedroom homes, the kids have moved out, and they no longer have the desire to maintain a large home where they are only using a small part of.

But condo living can be a major lifestyle change, both an extremely positive change for most but can also be a huge disappointment for some. Before taking the decision on downsizing to a condo, you owe it to yourself to answer these 4 questions to see if condo living makes sense for you.

See our search box for condos