From time to time in my travels throughout Victoria I encounter people who really stand apart form the rest. Best described as ‘Awesome’ local designer Angelique Bulosan really shines in her commitment to her craft and the happines of her clients. Creative, Chic, Classic, Funky and Environmentally Conscientious all at once isn’t easily balanced but Angelique has found the platform on which they stand in unison.
I’m not the only one who thinks so…did I mention one of her latest designs is a FINALIST for the very prestigious CARE Award! A description of Angelique’s design in her own words:
Kitchen was nominated as a finalist in the 2011 Care Awards
Kitchen
My statement about the kitchen design: The island gables play with the juxtaposition of the two finishes while thoughtfully placed stainless steel accents add to the sleek look. The “ice glass” backsplash, which was carried through the space to the beverage center’s cabinet doors, is a green product made from repurposed glass. This kitchen has all the bells and whistles boasting multiple roll out pantries, small appliance lifts, integrated tv on a swing arm concealed by a stainless steel look tambour door, built in step stool, motion sensor puck lights, three sinks – all made from a durable granite acrylic composite – coloured to match the quartz counters and the double dishwashers, fridge and freezer are concealed with integrated panels.
Beverage Center
Powder Room
Remember when you looked into your mothers jewellry box for the first time? I recreated that awe and wonder for this tiny and angular powder room. The challenging shape was the foundation of my creativity.
Powder Room Cabinetry
I put extra storage in every nook and cranny I could. The space from an awkward and small hallway closet beside the powder room was used to create this vanity with extra storage tucked behind the door.
Master Ensuite Vanity
Fireplace in family room by kitchen
Metallic paint on the columns relates to the stainless accents and lowered costs while achieving the look I wanted.
Fireplace in living room
Front Door
I designed this custom entry way to relate to the inside renovation perfectly. The post lights up! Will post a picture of that soon!
“There was an ease to working with Angelique… she made the whole space flow together… she presented us with solutions we didn’t even think of, like how to modernize the old bay window; that part was a bonus… We love the space and feel that working with her really took the stress off of us.” – Rosalyn
During the course of this renovation I lent my design knowledge to my clients for other various parts of the house so the entire three floors and exterior would relate to each other. I had a blast working on this project and could not have asked for better clients to work with.
To connect with Angelique Bulosan and see more of her design visit http://angeliquebulosan.blogspot.com/.
Check back with us for progress on the 2011 CARE Awards.
Often times when you have purchased a new home, it can be difficult to know where to start when it comes to home decor. Which table will you buy and how will it affect the rest of the room and the furniture you already own?
Navigating the internet for usable tips on decorating your kitchen or bathroom can be overwhelming if you don’t have a lot of time.
So we thought we would do that for you!!
The following websites are the best tips online (in our opinion) for home decor –
Style at Home is a great website that provides its readers with tips and tricks as well as informative trend watching on kitchen and bathroom decor.
The website recently did an article on kitchen trends and how they are going to evolve in the future. Here is what some of their experts had to say:
“Gray will continue to be a prevalent colour in paint and in kitchen cabinets. It can be used in a traditional way with a Shaker-style front, or in very modern high-gloss applications. Gray is definitely here to stay, commonly paired with brown and white.”
Lisa Canning, Lisa Canning Interiors, Toronto
“Inspired by exotic destinations like Africa, India, Peru and Turkey we are seeing bold colours and prints in pinks, oranges, turquoise and greens. Bright colours and bold patterns paired with the classic earthy and neutral accessories create a well-balanced combination of colour for a visual feast in your home.”
The residential team of Sizeland Evans Interior Design, Calgary
In the 2011 Edition of Victoria Homes there was a very interesting article called “To Make a Successful Flip”. The article outlined some strategies and considerations that those hoping to turn a profit from purchasing a property, renovating it and then reselling it in a relatively quick time frame should keep in mind. I thought it made some really great points and wanted to share a few key tips.
- “You need to know the costs before you start.” -This is the key to every successful flip. Surprise expenses will cut into your profit margins. Having a clear picture of what renovations will cost is important but don’t forget to factor in the costs of carrying a property until it sells and the dispersal fees as well. Have your REALTOR® go over all the costs associated with the transaction on both ends with you. This will allow you to budget for things like property transfer tax and whether or not there are any exemptions that apply to you.
2. “Get to know the neighbourhood. In the end the smallest house in a more desirable area will sell for more than a larger house in a bad one.” – The golden rule of real estate: location, location, location. Especially in the case of a flip because you don’t want to be stuck with a property that will take a long time to sell or will force drastic price reductions. Both a long selling time and reduction in sales price will eat into your profits.
3. “Invest some time and money staging your home for sale.” – This is an especially important tip given the current market environment. You’ve invested time and money (and if you’ve done some of the work yourself: sweat and tears too) into this project and as mentioned above you need it to sell as quickly as possible to realize maximum profitability. While it’s my belief that staging will not necessarily get you higher offers it will help your property outperform the other product on the market which ultimately leads to a quicker sale.
Beyond the tips mentioned here the article had a plethora of helpful information. For a tailored project specific analysis of the costs and viability of your flip contact us today.
Here is a little home purchasing advice for our readers from a great real estate website and blog called The Red Pin.
The writer is Joe Ragona and we think he is giving great advice!
A novice real estate investor may think the only way to make a profit on their investment is in buying low and selling high – appreciation … and although this is a definite way many investors make money, it’s not the only one.
If you are only buying Real Estate with the intention of it going up in value, you will eventually pay the price when markets correct, as so many have learned these past few years … especially in Alberta. Yes, you can make money if you get lucky in a hot market, but also lose just as much on the other side.
However, if you approach your investment from the long term growth side, making sure you buy a self-sustaining property with cash flow after all expenses and a buffer built in, you will benefit from the compounding growth in the long run.
This is the reason I personally don’t panic when markets correct or fluctuate. My properties still bring in cash flow while the debt continues to shrink. Sure it may be worth less than last year but who cares, I have no intention of selling today or even tomorrow anyway.
Buying for long term and in the correct market gives you four income streams:
Positive monthly cash flow
Mortgage loan reduction
Tax advantages / deductions
Appreciation
My intention is to never sell my properties, but if one day the market does decide to throw me a bone, you never know, I might catch it!
Mr. Ragona makes a good argument for the buy and hold strategy that is sometimes over looked by real estate investors.
I myself am a fan of this approach if it fits with the overall investment strategy of the individual and if the investor has a long enough time horizon.
Contact us for a free personalize portfolio review and more information on real estate investment strategies.
I came across this great article that explain what title insurance is. The article is informative and easy to understand. We will have a lawyer comment further so stay tuned and in the mean time contact us with your questions. Click on the image to read further.
One of the best ways to learn about something is to speak to others who have had a similar experience. As full service real estate agents we walk our clients through any number of situations and are available throughout the entire home sale and purchase process but it’s helpful to know what effort, time, emotions and thoughts people encounter . If you’re just at the very beginning of a real estate transaction below is a taste of what it’s really like when looking for the right home.
I asked Mr. K. Ng one of our past clients to share his home purchase experience and to tell me frankly what went well and what could have been better.
I learned from his answers and hope you do too!
1. How long have you been in your home? 8 Months
2. What type of home were you looking for? Condo
3. Why did you choose to work with Christina and Patricia? Christina and Patricia are both competent, patient and are always up for the challenge. When I have a difficult question they did not turn their back or convince me that it’s not important, they did the proper research and get back to me with an answer. This speaks value.
4. What was the biggest factor that influenced your decision to buy a home? Investment
5. Describe some of the things that you thought were easy about the home buying process. MLS listing provide statistics on the market and price difference in locations.
6. What were some of the things you found hard about it? Negotiation, because a fair price value for both the seller and the buyer is difficult to establish.
7. What advice would you offer someone buying their first home? Do extensive research, do not over look the obvious due to emotions.
8. Describe the funniest thing that’s happened to you in the purchase process. A fridge was missing from one property.
9. Describe the worst thing. Nothing, overall a very pleasant experience.
10. What are the qualities about your home that make living there enjoyable? Excellent location,walking distance to work, shops, and groceries. Water view and height ceiling.
Here are my top 4 tips for a first time buyer taking steps to get ready to buy their first home!
1. Get Informed – learn about home ownership and whether it`s right for you. Some great resources are available at CMHC (Canadian Mortgage and Housing Corporation) PLUS I we are always available to take you out for coffee to talk more about the realities of home ownership and the steps involved just email, tweet, facebook or call!`
2. Talk to your bank or mortgage broker (or both) – setting your budget is key. Brokers and bankers are very helpful in teaching you about mortgages and coaching buyers through the process of applying for a loan. For a list of pre screened brokers and bankers at all major banks in Victoria just get in touch.
3. Find a good Realtor to represent you, and help in your search – Realtors are key in the buying process, we educate buyers about the current market, show properties, answer all questions about available properties, negotiate the sale, do all the paperwork, and help ever step of the way. I always encourage clients to interview their Realtor and I will make sure to post some great interview questions soon. If you want a copy of them early then just email, tweet, facebook or call.
4. Start shopping!! – this is the FUN part and can be a long process or a relativity quick one depending on the buyers needs and personality.
If you have any questions we`re always available and happy to connect.
Earlier this week there was an article published in the Scotsman Guide discussing down payment wedding registries as a tool for couples wanting to register for a financially responsible wedding gift-sorry silver gravy boats.
We received some feedback from mortgage broker Jason Roy of The Mortgage Group Canada Inc. and of Philip Bisset-Covaneiro of Investors Group Financial Services Inc. with some great strategies on what to do with your down payment registry funds once they are all collected.
Jason Roy, the Mortgage Group Canada Inc. - The best part about a down payment registry is that having the gifted funds for your down payment gives you options. If you already have money saved up to purchase your first home, these new funds can help you to perhaps move up from purchasing a condo to being able to afford to purchase a house. If you do not have any money saved for a down payment this just may be the way to collect the minimum you need to get into the housing market. Or perhaps you have some money saved up (if you have not spent it all on the wedding) and you just need a bit more to top you up. Really the options are endless when you factor in possible lender cash back options that can be combined with the funds received through homeforthehoneymoon.com.
Talk to homeforthehoneymoon.com and talk to your local accredited mortgage professional to find out how you can turn the money received from your down payment registry into home ownership.
Home for the Honeymoon clients have raised thousands of dollars towards the purchase of their homes. In some cases, just as Jason mentioned, couples were able to buy a more valuable property than if they hadn’t used the registry. Sometimes however couples aren’t ready to purchase their homes right away and need to take some time to plan. In this case Philip offered some great strategies on what to do with your cash until you are ready to buy.
Philip Bisset-Covaneiro, Investors Group Financial Services Inc. - With respect to what to do with your money and the most strategic place to keep money I offer the following advice: keeping your options open is a must!
The worst possible situation is to plan on purchasing a home in 5 years and then having the perfect place come available in three years. Not having access to your funds because they are tied down by fees and tax regulations would inhibit your ability to proceed with the purchase of this great home. Consider the following brackets when saving for a home: use your TFSA room first followed by the First Time Home Buyer’s Program through your RRSP’s.
Tax Free Savings Accounts, although they are relatively poorly named can hold your money, fee free, and relatively risk free or completely exposed in the stock market, the choice is yours. However the limit is $15,000 as of January 2011 for everyone in Canada over the age of 18. That is also per couple. So your first $30,000 should be placed in your personal TFSA’s and then consider using the First Time Home Buyer’s Program. The limit in RRSP’s has now been increased to $25,000 per person. This now allows you to be relatively tax efficient and flexible on your first $80,000 of savings. There are time sensitive requirements for deposits made into your RRSP and when you need to redeem them during the home buying process so please work closely with your Financial Planner to both save and pick the right investments, but often what is even more importantly is to properly manage the time requirements and initial structure of the tax saving vehicles you chose.
Some great strategies from two highly accredited industry professionals. Click here to contact Jason Roy for a free mortgage consultation or click here to contact Philip Bisset-Covaneiro for more financial planning strategies.
With so many for sale signs in our neighbourhoods and some lingering on lawns longer than others many sellers wonder; are we in a buyer’s market?
Actually market activity is more to the tune of a balanced market. In June, 618 homes and other properties were sold through the Multiple Listing Service — up from 572 sales in May and comparable to the 625 sales during June last year.
The Times Colonist published Tuesday July 4th, 2011 that the Victoria Real Estate Board inventory levels are currently seven per cent higher than they were at this point last year, and June’s 5,050 listed properties marked the highest monthly level in 15 years. This doesn’t mean that properties aren’t selling however this just means that there is more selection in inventory and that properties priced right will continue to attract buyers.
In the TC article Board President Dennis Fimrite affirmed that “In fact sales [in June] were stronger than in any other month this year. And the fundamentals in Victoria are so strong in that there is great weather, a good economy if prices start to soften you might see more buyers coming in or people buying property as investments.”
Firmrite also assured that even thought Royal Bank and TD raised their 5 yr fixed interest by 0.15 percent that market activity should remain healthy. “Yes, if rates go up it makes things less affordable, but there are a lot of people looking around who may buy because rates are going up.”
What all if this means to the home seller is that being competitive is important. With so much choice on the market making sure your property shows well is important. Turn on all the lights when you have a showing booked and of course make sure to de-clutter. If your property could use some elements like furniture in an empty space or complimentary decor consider staging.
Contact us for to have arranged an in home consultation to determine the value of your property and tips that will make you more competitive in today’s market.
Since as early as the 1930’s, many Victoria homes have used home heating oil as their primary heating source. The oil has been, and continues to be stored in large storage tanks, which are either located above ground (typically in a basement) or below ground (typically buried in a backyard). This discussion will focus on the potential problems posed by oil tanks buried below ground.
As home owners switch from using heating oil to alternative sources like electric and natural gas, many of the underground oil tanks have been emptied out and forgotten. These tanks are however a potential source of contamination of both soil and groundwater, and for that reason they are regulated by British Columbia’s Environmental Protection Act and the regulations thereto (the “Act”).
Who faces liability under the Act? Potentially, each of the current owner of the property, any prior owners of the property, and anyone who may have transported contaminants either onto the property or from the property onto another property may be liable to remediate the contaminated soil. The costs of remediating the soil can be significant; remediation of contaminated soil on a standard size City of Victoria lot could range up to $200,000 or more, depending on the level of contamination.
In addition, the owners of lots with buried underground oil tanks may face other problems, principally that the property may become uninsurable, because of the potential fire hazard posed by these buried tanks, and that banks and credit unions may not want to grant a mortgage over the property, because of the risk of contamination and the associated costs to clean it up.
With these concerns in mind, what can home owner and potential buyers do to protect themselves? The best thing to do would be to have an approved inspector check for a buried underground oil tank and, if one is found, contact individuals approved to determine the extent, if any, of any contamination, and to subsequently decommission and/or remove the tank from the property. Ascertaining whether or not there is a buried oil tank should also be part of the due diligence involved in the house-buying process; either the potential buyer and/or Realtor should find out if there is such a tank or, if the sellers do not know, then the potential buyer’s Realtor should ensure that the purchase is conditional upon the results of an inspection for such a tank.
This discussion of underground oil tanks is intended only as a brief introduction to the subject. Should you have any questions or concerns with respect to this or any other aspect of real estate law, please contact
Brendan Piovesan at Mullin DeMeo, at brendan@mdlawcorp.com, or (250) 477-3327.
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