Real Estate Guide - New Homes

New HOME BUYERS GUIDE K A M L O O P S

THIS WEEK

Monthly

VOL. 8 NO. 5

Let My Expertise Put You in a Better Place!

The Mortgage Centre/ Dico Holdings 207-242 Victoria St. Kamloops, BC V2C 2A2

250-374-2222 Tanya Evans

www.mortgagesbc.ca

evans.t@mortgagecentre.com

GETTING A GOOD READ ON

LIBRARY SQUARE PAGES C3, C4 KOKANEE COURT • • • • •

7805 DALLAS DRIVE - KAMLOOPS

full custom floorplans quick build times paved driveway landscaping low strata fees

Approximately

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C2 ❖ Tuesday, May 29, 2012

www.kamloopsthisweek.com

NEW HOMES

Opening the book on Library Square

Library Square has received rave reviews with respect to its North Kamloops location, the quality of finishing within, secure parking and admirable floor plans. Even the lobby (right) in the landmark commercial/residential showcase is stunning. For more information on leasing commercial retail units or purchasing residential units, go online to mcmrealestate.ca or call 250-372-2277. An open house is available from Thursdays to Sundays from 1 p.m. to 4 p.m.

Meet Judy.

She’s president of the ladies havoc club.

Maybe it’s the camaraderie, or the ‘knitting club’ but women like Judy think there’s room for more. Announcing the next phase of this popular seniors community — Mayfair.

Occupancy Fall 2013

1-bedroom suites starting at $139,900 2-bedroom suites starting at $199,900

Phase 1 (RiverBend) – SOLD OUT* Phase 2 (Mayfair) – NOW SELLING

Limited number of suites available!

Call 250-682-4378 * Rental opportunities available

www.themayfair.ca

Tuesday, May 29, 2012 ❖ C3

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NEW HOMES

The Library Square development is a robust mix of residential units mixed with two commercial areas and the North Kamloops public library, providing unique opportunities for businesses and residents. The second phase is completed and is selling, with third-phase units available for pre-sale.

Library Square adds to North Shore appeal

By Jessica Wallace SPECIAL TO KTW

editor@kamloopsthisweek.com

North Kamloops is looking shiny and new.

Residential and commercial properties of Tranquille Road’s Library Square are contributing to the renovated look being seen on the north side of Kamloops.

“People don’t realize it but, with the new bus loop there and the new library, it’s almost become a downtown feel,” said Mona Murray, licensed leasing agent for MCM Real Estate.

“It’s become a real focal point, a hub and I think that’s an important thing,” she said.

“There are opportunities in the North Shore.”

Of the six commercial properties in Library Square, only two remain to be leased.

“I could see it being a prime location for somebody,” Murray said.

There are two sizes of units available: 1,200 and 1,900 square feet.

Murray said she has received positive feedback from the businesses now leasing the commercial

retail units.

“Heather’s Fabrics [Heather’s Fabric Shelf and Quilt Shop] has done very well there,” Murray said, noting a denture clinic and Baskin Robbins have also established themselves in the community.

The area benefits from the traffic it receives from the central location and it proximity to public transportation and the Holiday Inn Hotel and Suites, which is located right across the parking lot “There is a natural draw,” Murray said.

Traffic to the commercial properties also comes from residents of Library Square.

The development consists of residential units mixed with two commercial areas and the North Kamloops public library, providing unique opportunities for businesses and residents.

The second phase is completed and is selling, with third-phase units available for pre-sale.

“There’s going to be 150 people living upstairs,” Murray said.

Deborah Petersmeyer, in charge of the project’s

marketing of residential sales, said a wide range of demographics are drawn to Library Square.

She has received rave reviews regarding the location, quality of finishing, secure parking and floor plans.

However, there is also the lifestyle that comes with being a resident of Library Square.

“They like the walk over to pick up their groceries,” Petersmeyer said. “Some nice restaurants are nearby.”

Units start at about $179,000 and include a tax holiday, exempting owners from the City of Kamloops portion of their property taxes for 10 years.

For more information on leasing commercial retail units or purchasing residential units, go online to mcmrealestate.ca or call 250-372-2277.

An open house is available from Thursdays to Sundays from 1 p.m. to 4 p.m.

“We get people coming in and thanking the developer for putting it there,” Petersmeyer said.

“Library Square is making the North Shore more appealing.”

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OP EN !

C4 ❖ Tuesday, May 29, 2012

www.kamloopsthisweek.com

NEW HOMES

THE 2012

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HE DREAM-HOME lottery with the most advantageous odds is back.

Those willing to plunk down $100 will have a one in 10,000 chance of winning the Kamloops YMCA-YWCA Dream Home — and chances to win an assortment of other prizes.

The 2,900 square-foot, $767,000 Tuscan-style home is located in Sun Rivers.

It has three bedrooms, three bathrooms and a den, with the master suite and living areas on the main floor.

Don’t feel like climbing all those stairs?

Don’t worry. The Y Dream Home comes with an elevator.

The house contains five Energy Star appliances — a fridge, stove, dishwasher, washer and dryer.

The kitchen comes equipped with a wine closet and there’s a fireplace out on the patio.

The house has been built to green standards, boasting a platinum-level Built Green rating.

Darcy Harris, communications and funds development manager at the YMCA-YWCA, said the Y Dream Home helps support many programs the organization offers.

“The Dream Home is a really important fundraiser for the Y, in the sense that it provides some base support for the programs that we run in the community that provide huge benefits to the lives of families, children and youth,” Harris said.

Construction of the home was completed by the Thompson Rivers University School of Trades and Technology and the Canadian Home Builders Association-Central Interior.

The luxury abode can be found at 3001 Visao Ct. at Sun Rivers, with an open house running until July 1.

People can check it out on Saturdays and Sundays between 11 a.m. and 5 p.m. and on Wednesdays, Thursdays and Fridays between 1 p.m. and 5 p.m.

The Y Dream Home Lottery tickets go for $100 a pop, but are in short supply.

More than half of the tickets have already sold, leaving fewer than 5,000 available, while the value packs have sold out.

The draw will take place at 9 a.m. on July 9, at the home.

For more information on the home and lottery, and to take a video tour of the house, go online to ydreamhome. org, where you can also buy tickets online.

Tuesday, May 29, 2012 â?– C5

www.kamloopsthisweek.com

NEW HOMES

Y Dream Home Lottery tickets go for $100 a pop, but are in short supply. More than half of the tickets have already sold, leaving fewer than 5,000 available, while the value packs have sold out.

The draw will take place at 9 a.m. on July 9, at the home.

For more information on the home and lottery, and to take a video tour of the house, go online to ydreamhome.org, where you can also buy tickets online.

ÂŽ

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C6 ❖ Tuesday, May 29, 2012

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NEW HOMES

It’s crucial to choose right mortgage for you

UP $ TO

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Choosing the right mortgage to fit your specific needs and situation is a critical part of homeownership.

There are many things to consider when your mortgage comes up for renewal and it is important to review all of your refinancing options to ensure you make a well-informed, financially responsible decision.

From BMO Bank of Montreal, here are some things to consider when refinancing your mortgage: • Do your research: It’s important to research all available options.

• There could be a better-suited mortgage available to fit your current or future needs.

For example, if you have had a variable rate mortgage but are looking for payment certainty and rate protection, you may want to consider moving to a fixed rate.

• Review your financial situation: Is reducing your amortization an option?

For example, on a $400,000 mortgage at a five per cent interest rate, moving from a 30-year to a 25-year amortization can save upwards of $70,000 in interest over the life of the mortgage.

• Stress-test your budget: While interest rates have hovered near historic lows,

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rates are set to climb within the next 12 months.

Stress-test your mortgage at a higher rate to ensure you will be able to afford your mortgage payments when interest rates rise.

According to a recent BMO survey, Canadian homebuyers want payment certainty for as long as possible.

The majority (65 per cent) are looking to lock in at a fixed rate to take advantage of low interest rates while they are available.

“Spring is a good time to revisit financial priorities to ensure they continue to coincide with both your present situation,” said Laura Parsons, a BMO mortgage expert.

“BMO encourages Canadian homeowners to stress-test their mortgage to ensure a rise in interest rates is manageable.

“Locking into a fixed rate can provide added peace of mind in the face of potential interest rate hikes.”

Parsons added that choosing a shorter amortization allows Canadians to save thousands on interest costs over the life of their mortgage — and gives them the benefit of being able to build equity sooner.

Tuesday, May 29, 2012 ❖ C7

www.kamloopsthisweek.com

NEW HOMES

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residences

First-time homebuyers can receive a cheque for up to $10,000 to help with the cost of buying a newly built home — and seniors who need permanent home renovations to help them stay in their homes longer will be assisted with the cost of those renovations through legislation introduced in Victoria.

Bill 45, the Income Tax Amendment Act 2012, introduces legislation for the B.C. first-time new homebuyers’ bonus and the B.C. seniors’ home-renovation tax credit announced in the provincial budget earlier this year.

First-time buyers of newly built homes may be eligible to receive the B.C. firsttime new homebuyers’ bonus of up to $10,000, designed to give families a break, while supporting the new-home construction sector.

Individuals must apply for the bonus through the provincial government.

Bonus payments will be sent out as cheques in the mail.

A new B.C. seniors’ home-renovation tax credit of up to $1,000 annually will be available to help with the cost of permanent home renovations that provide

British Columbians ages 65 and over with increased independence, allowing them the flexibility to remain in their own homes longer.

It will be available to individuals who incur eligible expenditures on or after April 1, of this year.

The credit can be claimed by seniors, whether they own their home or rent, and by individuals who share a home with a senior, when individuals file their personal income tax returns for 2012 and in future years.

“This new legislation gives consumers a break by helping families with the cost of buying a new home and assisting seniors with some home renovation expenses that assists them to stay in their home longer,” said Finance Minister Kevin Falcon.

“These measures that benefit qualifying families and seniors will also help to protect and create jobs by supporting the home construction and renovation industry.

“I hope families looking for a new home and seniors considering permanent home renovations will take advantage of these opportunities.”

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C8 ❖ Tuesday, May 29, 2012

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NEW HOMES

Maintenance Matters:

Maintaining and replacing building envelopes

W

HEN A residential building is new, it’s easy to forget the roof, walls, windows, doors and other elements exposed to the outdoors will need to be maintained and eventually replaced.

These elements — part of the building envelope — are important and

costly building assets that will deteriorate over time through exposure to the weather and wear and tear.

A building’s value and lifespan will suffer if its building envelope is not maintained and replaced when necessary.

Guidance for how to maintain the building envelope and other parts of multi-unit properties can be

found in the Maintenance Matters bulletin series provided by the provincial government’s Homeowner Protection Office, a branch of BC Housing.

Available online at hpo. bc.ca, the bulletins target homeowners, strata councils, maintenance managers, housing co-operatives and owners of townhouses, low-rise and high-rise

buildings.

However, much of the advice offered may also be helpful to owners of singlefamily homes.

Bulletin No. 7, entitled Building Envelope Maintenance and Renewals Planning, discusses why maintenance and renewal planning is necessary — and how to properly plan for it.

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Protecting your investment It’s important that all building assets, including the building envelope, are managed effectively and continually.

Owners should assign someone the responsibility for planning and managing the maintenance activities — such as the property manager, committee of volunteer owners or third-party consultant.

Maintenance and renewal activities for the building envelope can range from cleaning the wall siding and replacing window seals and gaskets to replacing the roof every 15 to 25 years.

Building a document package After a building is constructed or rehabilitated, the construction team or warranty provider hands over a maintenance manual.

This manual is a handbook of instructions, rules and guidelines for performing particular maintenance tasks. Owners should read it and follow it.

Warranty providers may deny coverage in cases of neglect or improper maintenance, particularly if an owner receives a manual and does not perform the recommended maintenance.

An effective maintenance manual includes this and other documentation: • Drawings.

• Specifications of materials and building components.

• Warranty, safety and test certificates.

• Contact list of contractors, consultants and other parties.

• Manufacturers’ product literature.

• Maintenance records.

• Colours and finishes used.

• Building asset list and details.

• Equipment and supplies on site.

• Action plan tips.

Be proactive about your building maintenance.

Notify your property manager if you notice a maintenance problem with the building envelope.

Collect and keep key documents.

Ensure the building has an updated maintenance and renewals plan.

Follow through with the maintenance and renewal program and assign a custodian to manage it.

Visit the HPO website at hpo.bc.ca for more practical tips and checklists and check out the new Maintenance Matters videos.

You can also subscribe to receive the HPO’s online Maintenance Matters bulletins.

ONE STOP FOR ALL YOUR HOME IMPROVEMENTS! Please call: 250.828.2656 734 Laval Crescent Kamloops, BC

Protecting your investment includes maintaining and repairing all of the building, including the roof. For more information, go online to hpo.bc.ca.

Tuesday, May 29, 2012 ❖ C9

www.kamloopsthisweek.com

NEW HOMES

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Housing starts lag behind 2011 levels Through the first quarter of 2012, housing starts in Kamloops remain down from 2011 — though single-detached homes are rising faster than they did last year.

To the end of April, total housing starts in Kamloops stood at 88, a 57 per cent decline from the 206 starts registered through April 2011.

Contributing to the drop in starts was the multi-unit sector, which saw 13 starts this year, compared to 153 in 2011.

On the single-detached front, Kamloops recorded 75 starts in January, February, March and April, a 42 per cent jump from the 53 starts through April 2011.

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C10 ❖ Tuesday, May 29, 2012

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NEW HOMES

Leave for vacation

with peace of mind A S SUMMER DRAWS NEAR, many Canadians plan extended visits to the family cottage or vacations in distant locations.

The excitement of an impending trip can be distracting, but it is important to remember that several steps must be taken to ensure your home is vacationready.

“Summer vacations are a great way to relax with family, friends, and loved ones,” says Wade Webb, a broker with Royal LePage Kelowna.

“But, returning from vacation could be far from relaxing if you leave without preparing your home for your absence.”

To set your mind at ease and enjoy your vacation to the fullest, Webb recommends these three home preparation tips: 1. Unplug all non-essential electronics and appliances.

Appliances and electronic devices left plugged in will continue to drain energy, even when not in use.

Why add unnecessary costs to your energy bills?

Any electrical appliance that is left plugged in also has the potential to cause a fire.

2. Ask a trusted neighbour to check on your house.

If you are away for an extended period of time, it helps to know that a reliable person will keep an eye on your home.

Anything suspicious can be reported the local police or brought to your attention.

Better yet, a house-sitter can give the appearance of an occupied home, deterring potential burglars — and they can also take care of your pets and plants.

3. Cancel the newspaper delivery.

No matter how reliable your neighbour is, a pile of newspapers at your doorway is a sure sign of your absence.

Call your local newspaper provider to cancel service for the duration of your vacation.

Most publishers will be happy to help you resume your service when you return.

Additional ideas on this topic are available online at royallepage.ca. newscanada.com

Going away? Unplugging non-essential electronics and appliances is a good idea before you leave.

Are you ready to make your move?

• Convenient appointment, day or night, home or office • Competitive rates on a wide selection of mortgages • Flexible home financing solutions • Your contact for all mortgage needs For convenient mortgage service, contact: Bev Wassen-Hunter Mortgage Specialist Tel. : 250-828-8870 Cell : 250-572-6847

Sue Maitland Mortgage Specialist Tel. : 250-828-8841 Cell : 250-819-8811

®

Registered trade-marks of Bank of Montreal. ™/®

Trade-marks/registered trade-marks of Bank of Montreal.

655659

Mortgage Expertise at Your Doorstep 24/7

TUESDAY, May 29, 2012 â?– C11

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a place for everyone.

The Tobiano Presentation Centre staff will guide you through the construction uction of your home from start to finish. Starting with finding the right lot and builder to fit you and your lifestyle.

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236 Rue Cheval Nior

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Call 1.877.373.0055 to speak with one of our sales representatives.

TOBIANO GOLF | 38 Holloway Drive, Kamloops B.C., info@tobiano.ca |www.tobiano.ca

C12 â?– TUESDAY, May 29, 2012

www.kamloopsthisweek.com

Welcome to your own four-season playground At Talasa in Kamloops, the Sun Rivers Golf Course is on your doorstep, Sun Peaks Ski Resort is just up the road, and rivers, lakes, beaches, hiking, biking, community centres and every other conceivable outdoor activity awaits you. Owning a home here gives you more than a place to stay, it gives you a four-season way of life.

Visit our Real Estate Sales Centre to start your four-season adventure.

1090 Sun Rivers Drive, Kamloops, BC

TalasaLiving.com | 250.314.4344 This is not intended to be an offering or solicitation for sale in any jurisdiction where the project is not registered in accordance with applicable law or where such offering or solicitation would otherwise be prohibited by law. Renderings and images depicted are for marketing purposes only and may differ from finished product. E.&O.E.