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New property listed in Willoughby Heights, Langley

I have listed a new property at 7326 199 ST in Langley. See details here

Welcome to this EXECUTIVE home in desirable Willoughby! This 6 bed, 6 bath home features HIGH END finishings including engineered HARDWOOD floors, extensive mouldings & millwork throughout! Enter into the foyer where you have an office/family room that leads to the OPEN living room, large dining area & oversized CHEF'S kitchen with elegant GRANITE counters, an abundance of cabinet space & a LARGE eat-up island - perfect for entertaining with access to a good sized, fully fenced backyard! Upstairs features a large primary with a W/I closet & SPA-like ensuite, second bedroom with its own ensuite & two other bedrooms w/a jack and jill bathroom! Downstairs has a rec room for upstairs' use, (could be a bedroom) & a BONUS 2 bed,1 bath LEGAL suite! This home is perfect for the whole family!

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New property listed in Fort Langley, Langley

I have listed a new property at 110 23189 FRANCIS AVE in Langley. See details here

Welcome to LILY TERRACE, the epitome of LUXURY living in the heart of Fort Langley. This stunning, 2 bed, 2 bath condo is equipped with HIGH-END finishings including hardwood floors, custom closet organizers, SONOS sound system w/built in speakers & A/C + TONS OF UPGRADES! OPEN layout is great for entertaining & features a gorgeous chef kitchen w/Bertazzoni 6 burner gas stove, floor to ceiling cabinetry, integrated Sub-Zero fridge, wine fridge & Caesarstone waterfall island. Large primary bedroom features a SPA like Ensuite, floor to ceiling MARBLE, free standing soaker tub, rain shower, heated floors & W/I closet. Relax on East facing patio, with easy walk-out street access & steps to the main strip, shopping, coffee shops & trails! 2 parking & huge 79 sq/ft private storage!

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New property listed in Downtown VW, Vancouver West

I have listed a new property at 506 633 ABBOTT ST in Vancouver. See details here

Welcome to the highly sought-after ESPANA building! Here's your chance to own a turn-key, fully furnished 2-bed, 2-bath, CORNER unit, overlooking the serene COURTYARD. This stunning unit features oversized windows that flood the space with light! The kitchen boasts SS appliances & ample granite counter space overlooking the open living room, great for entertaining! Enjoy relaxing on your quiet, west-facing patio with beautiful COURTYARD & City views. The desirable layout features beds & baths at opposite ends for ultimate privacy, a large primary bed w/walk-in closet & recently fully updated ensuite. Good-sized second bedroom + office nook! Enjoy world-class amenities including gym, pool, hot tub & sauna. Ideal location to transit, Rogers Arena, Yaletown, restaurants, parks & shopping!

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New property listed in Langley City, Langley

I have listed a new property at 206 20068 FRASER HWY in Langley. See details here

Attention First-Time Home Buyers, Downsizes & Investors: Welcome to Varsity! This well-maintained 1-bedroom, 1-bathroom home is move-in ready and features a BRIGHT, OPEN floor plan. The kitchen is a highlight, with stainless steel appliances, a GAS range, plenty of cabinet space, and beautiful granite countertops, including an eat-up breakfast bar. Step outside to your east-facing patio—perfect for enjoying your morning coffee or BBQing, with a convenient gas hookup for your grill! Best of all, your strata fee covers both gas and hot water. This exceptional building is pet & rental friendly and centrally located in Downtown Langley, just steps away from shopping, dining, schools, parks, recreational facilities & a short walk to the future Langley City Skytrain Station!

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Open House. Open House on Sunday, March 16, 2025 11:00AM - 1:00PM

Please visit our Open House at 260 27358 32 AVE in Langley. See details here

Open House on Sunday, March 16, 2025 11:00AM - 1:00PM

Welcome home! One of the few newer condo building in Aldergrove being only 3 years old! This bright & open 2 bed 2 bath condo with a great floorplan features a modern kitchen w/quartz counter, SS appliances, oversized eat up island + white shaker style cabinets w/under mount lighting! Relax after a long day in your large open living room w/designated dining area that leads to your private east facing patio, great for entertaining! Benefit from a HUGE primary bedroom which is big enough to put a home office & features a W/I closet & Ensuite, in addition the second bedroom is a great size and has a full bath right across the hall. Located in a quiet area & down the road from Aldergrove Community Centre, grocery shopping & restaurants. Extra Parking Available! PRICED 20K BELOW TAX ASSESSMENT!

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Buying in a Strata with a History of Leaks: What to Consider

Water damage is one of the most common issues in condo buildings, and the vast majority of strata properties have experienced leaks at some point. While a history of water-related issues doesn’t necessarily mean a building is a bad investment, buyers should carefully evaluate not just the number of leaks but also their causes and how well the strata has handled them.

Potential Risks to Be Aware Of

  • Property Damage: Ongoing leaks can lead to structural deterioration, mold growth, and long-term building issues.

  • Financial Costs: Frequent repairs and remediation efforts can result in increased strata fees or special assessments.

  • Impact on Property Value: A building with a history of leaks may be harder to sell and could see lower resale prices.

  • Living Disruptions: Leak repairs and renovations can cause inconvenience, and in severe cases, may require temporary relocation.

  • Insurance Concerns: Properties with recurring leaks may face higher insurance premiums, increased deductibles, or difficulties in obtaining coverage.

How to Assess the Strata’s Response

To gauge whether a building is well-managed despite past leaks, consider:

  • Timeliness of Repairs: Does the strata act quickly and bring in professionals, or do issues remain unresolved?

  • Preventative Maintenance: Are regular plumbing inspections, drainage cleaning, and building envelope assessments conducted?

  • Future Planning: Does the strata have a strategy for addressing aging infrastructure? Reviewing meeting minutes, depreciation reports, and financial records can provide valuable insight.

Making a Smart Decision

Before committing to a purchase, buyers should carefully review the building’s history, understand the causes of past leaks, and seek expert advice if concerns persist.

By doing thorough research, buyers can minimize risks and determine whether the strata’s management of water-related issues makes the purchase a sound investment.

Certain details courtesy of Condo Clear Services

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Navigating Strata and Condo Insurance in British Columbia

Living in a strata community in British Columbia offers convenience and shared amenities, but it also comes with unique insurance requirements. Many condo owners and investors don’t fully grasp the difference between strata insurance and personal condo insurance, which can lead to gaps in coverage and unexpected financial risks.

Whether you own, rent, or manage a condo, understanding the roles of these two insurance policies is essential. This guide will help clarify their differences, explain how they work together, and ensure you’re adequately protected.

What is Strata Insurance?

Strata insurance is a master policy held by the strata corporation that protects the overall building and common areas. It ensures that the property’s structural components and shared spaces are covered under one collective plan.

What Does Strata Insurance Cover?

  • Common Areas: Hallways, lobbies, elevators, gyms, and parking lots.

  • Building Structure: The roof, walls, windows, and other core elements.

  • Liability in Shared Spaces: If someone gets injured in a communal area, the policy provides coverage.

What Strata Insurance Doesn’t Cover

  • Your individual unit’s interior improvements or personal belongings.

  • Items such as furniture, clothing, electronics, or appliances.

  • Personal liability for incidents that occur inside your unit.

This is why condo insurance is a must-have for individual owners.

What is Condo Insurance?

Condo insurance, also known as a "unit owner’s policy," is designed to protect your specific living space and personal possessions.

What Does Condo Insurance Cover?

  • Personal Property: Furniture, electronics, and clothing against risks like theft, fire, and water damage.

  • Personal Liability: Protection if someone gets injured inside your unit or if you cause damage to someone else’s property.

  • Water Damage: If an issue in your unit, such as a pipe leak, causes damage to another unit, your condo insurance can help cover the costs.

  • Temporary Living Expenses: Covers accommodation costs if your condo becomes uninhabitable due to an insured event.

Comparing Strata Insurance and Condo Insurance

FeatureStrata InsuranceCondo Insurance
Covers shared propertyYesNo
Covers personal belongingsNoYes
Liability for common areasYesNo
Personal liability coverageNoYes
Water Damage in your unitNoYes

Both policies work together to provide complete protection for condo owners. Neither one can fully safeguard you on its own.

Why Condo Owners Need Both Policies

Strata and condo insurance serve different purposes, and having both is crucial for full protection.

Real-Life Examples:

  • Water Damage: A burst pipe in your unit affects neighboring condos. Strata insurance covers common areas, but condo insurance covers your personal losses and liability.

  • Liability Protection: If a visitor trips in the building’s lobby, strata insurance covers it. If they fall inside your unit, your condo policy handles it.

  • Upgrades and Renovations: If you’ve installed new flooring or countertops, these may not be covered by strata insurance. Condo insurance ensures your upgrades are protected.

Understanding Strata and Condo Insurance Deductibles

Strata insurance policies often come with high deductibles, which may be charged to individual owners in cases of major damage. Having condo insurance that includes deductible coverage can help prevent unexpected financial burdens.

Selecting the Right Condo Insurance Policy

To ensure full protection, follow these steps:

  • Assess Your Belongings: Take inventory and estimate their value.

  • Review Strata Coverage: Understand what’s included in your strata’s insurance policy to identify coverage gaps.

  • Customize Your Policy: Work with an insurance professional to tailor coverage that includes personal liability, water damage, and deductible protection.

Keep Your Coverage Up to Date

As your lifestyle changes, so do your insurance needs. Review your policies annually to ensure they align with any renovations, new purchases, or strata bylaw updates.

Secure Your Home with the Right Coverage

Understanding strata and condo insurance in BC is essential for protecting your property, personal belongings, and financial security. While strata insurance takes care of common areas and the building structure, condo insurance fills in the personal protection gaps.

Don’t leave your coverage to chance. Speak with an experienced insurance advisor today to ensure you and your home are fully protected.

Certain details courtesy of : https://www.insurebc.ca/articles/strata-and-condo-insurance-whats-the-difference

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I have sold a property at 89 6747 203 ST in Langley

I have sold a property at 89 6747 203 ST in Langley on Mar 3, 2025. See details here

Welcome to Sagebrook built by the reputable Polygon homes! Step inside this beautifully maintained 2 bed 2 bath townhome that features a desirable fully fenced, private backyard off the main floor, perfect for BBQ’ing, kids to play and entertaining! The open floor plan offers a spacious kitchen with bonus pantry/storage which leads to your dining area that fits a 6 person table & oversized living room with a cozy fireplace. Upstairs features your primary bedroom with spacious ensuite w/shower & double sinks plus an additional bedroom and family bath! Located steps to the club house which has an outdoor pool, hot tub, large clubhouse, exercise room and even an indoor hockey room! Conveniently located just down the street from shopping, transit and nature! The perfect place to call home!

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I have sold a property at 107 20861 83 AVE in Langley

I have sold a property at 107 20861 83 AVE in Langley on Feb 26, 2025. See details here

Welcome to Athenry Gate in Willoughby! This beautifully appointed 2-bed, 2-bath ground-floor condo offers ideal privacy with bedrooms on opposite sides. The open layout features 9-ft ceilings, crown molding, modern kitchen w/oak shaker style cabinets, granite countertops, stainless steel appliances, and a large eat up island, perfect for entertaining. The spacious primary bedroom includes a his-and-hers closet and a 4-piece ensuite and a great sized second bedroom. Enjoy a coffee on your large, west facing private patio, perfect for relaxing. This unit also includes 1 parking space and a locker! Located in a prime location of Willoughby, close to HWY 1, Willoughby Town Centre, Langley Events Centre & tennis center, elementary & high schools, this home offers both comfort and convenience.

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New property listed in Whalley, North Surrey

I have listed a new property at 37 9977 138 ST in Surrey. See details here

Welcome to Somerset! This beautifully renovated top-floor 1-bed, 1-bath condo offers 737 sq/ft of bright & stylish living space that is move-in ready! The modern kitchen boasts brand-new stainless steel appliances, white cabinetry, new backsplash, & a double sink. The open-concept layout includes a designated dining area & a spacious living room with a cozy gas fireplace which leads to your east-facing balcony, the perfect spot to enjoy your morning coffee! The oversized bedroom features two closets and a convenient cheater ensuite. Additional perks include secured underground parking and a storage locker. Somerset is a well-maintained building and ideally located just a short walk to Surrey Central City Mall, King George SkyTrain Station, Holland Park, SFU, and everything you need!

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Open House. Open House on Sunday, March 9, 2025 1:00PM - 3:00PM

Please visit our Open House at 260 27358 32 AVE in Langley. See details here

Open House on Sunday, March 9, 2025 1:00PM - 3:00PM

Welcome home! One of the few newer condo building in Aldergrove being only 3 years old! This bright & open 2 bed 2 bath condo with a great floorplan features a modern kitchen w/quartz counter, SS appliances, oversized eat up island + white shaker style cabinets w/under mount lighting! Relax after a long day in your large open living room w/designated dining area that leads to your private east facing patio, great for entertaining! Benefit from a HUGE primary bedroom which is big enough to put a home office & features a W/I closet & Ensuite, in addition the second bedroom is a great size and has a full bath right across the hall. Located in a quiet area & down the road from Aldergrove Community Centre, grocery shopping & restaurants. Extra Parking Available! PRICED 20K BELOW TAX ASSESSMENT!

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Everything You Need to Know About the First Home Savings Account (FHSA)

Buying your first home is a major financial milestone, and the First Home Savings Account (FHSA) is designed to make it easier. This new account type provides valuable tax benefits and investment opportunities to help first-time homebuyers save efficiently.

Who Can Open a First Home Savings Account?

To open an FHSA, you must meet the following criteria:

  • Be between the ages of 18 and 71.

  • Be a current tax resident of Canada.

  • Have not lived in a home that you or your partner owned in the current calendar year or any of the previous four calendar years.

  • Be opening the account with the intention of buying a qualifying home in Canada.

Contributions and Deductions

The FHSA offers flexible contribution limits and tax advantages:

  • Annual contribution limit: $8,000 (unused contributions can carry forward, up to a maximum of $8,000).

  • Lifetime contribution limit: $40,000.

  • Contributions made to an FHSA can be deducted from your taxable income (similar to an RRSP), helping you save on taxes.

How Can I Use an FHSA?

One of the biggest benefits of an FHSA is that it functions much like a TFSA or RRSP, allowing you to invest in stocks, ETFs, options, and more. Your investments can grow tax-free within the account, meaning you won’t pay capital gains or income tax on your earnings as you save for your home.

You can continue to contribute to the FHSA until:

  • You’ve reached the lifetime contribution limit of $40,000.

  • It has been 15 years since the account was opened.

  • You purchase your first home and withdraw the funds.

Withdrawing From an FHSA

When you're ready to buy or build your first home, the money in your FHSA can be withdrawn tax-free, provided it is used toward a qualifying home purchase. This makes the FHSA a powerful tool for tax-efficient home savings.

FHSA vs RRSP vs TFSA

While an FHSA is not a replacement for an RRSP or TFSA, it acts as a complementary savings tool for first-time homebuyers. Here’s how it compares:

Account TypePurposeContribution LimitsTax Benefits
FHSASaving for a first home$8,000 per year ($40,000 lifetime)Tax-deductible contributions and tax-free withdrawals for home purchase
RRSPRetirement savings18% of earned income (up to a max)Tax-deductible contributions and tax-deferred growth
TFSAGeneral savings$7,000 per year (2024 limit)Tax-free growth and withdrawals for any purpose

An FHSA combines the best features of RRSPs and TFSAs, offering more contribution room, tax savings, and opportunities for investment growth.

Final Thoughts

If you’re an aspiring first-time homebuyer in Canada, the First Home Savings Account (FHSA) is an incredible financial tool to help you save efficiently and reduce tax burdens. By taking advantage of its benefits, you can make your dream of homeownership a reality sooner.

Ready to learn more? Explore the FHSA and start planning for your first home today!

Certain details courtesy of : https://www.questrade.com/learning/investment-concepts/fhsa-101/first-home-savings-account-sign-up?s_cid=QFGPERFORMANCEMEDIA217_alwayson_sem&gad_source=1&gclid=CjwKCAiArKW-BhAzEiwAZhWsIAD5K-ZO8vx2JAA7XfMEt4b3nj08vM3G_PUTfo_JT22U-MmNt_XKZhoCwMsQAvD_BwE&gclsrc=aw.ds

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