The idea of buying your own home is so exciting and moving. It’s one of the biggest dreams of every person, and why not? Having your own home is not only emotionally appealing, but it also means that you don’t have to bear the hassle of dealing with landlords and taking out a huge sum every month for rent. But buying a house is a nerve-wracking and complex process, especially if you are a first-time buyer.
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First-time buyers get entrapped in so many ifs and buts, feel confused and helpless due to lack of buying experience and knowledge. It is not only daunting, but you can also end up landing on the wrong deal and regretting your decision. The idea of buying your own home is so exciting and moving. It’s one of the biggest dreams of every person, and why not? Having your own home is not only emotionally appealing, but it also means that you don’t have to bear the hassle of dealing with landlords and taking out a huge sum every month for rent. But buying a house is a nerve-wracking and complex process, especially if you are a first-time buyer.
First-time buyers get entrapped in so many ifs and buts, feel confused and helpless due to lack of buying experience and knowledge. It is not only daunting, but you can also end up landing on the wrong deal and regretting your decision. Here are some tips by a reputable Toronto realtor to ensure that your first-time home buying deal doesn’t turn into a nightmare:
Save Enough for Down Payment:
Obviously, you need money to buy a home. Even if you are not paying the whole amount in one go, you still need money for a down payment, which is essential anyway. At least you should be prepared to put 20% down payment if you don’t want to increase your expenditures like spending on private mortgage insurance (PMI) which a mortgage company demands as their security. Even single-digit down payment offers of first-time buyer programs are a trap that increases your total cost.
The best option is to start saving for the down payment before fixing your deal. Save up your bonuses, tax refunds and cut down extra expenditures. You can buy designer jacket later after buying your house; it isn’t important than buying a home. Home buying itself is quite a costly affair, make sure to play smartly to prevent adding extra cost.
Maintain Your Credit:
Your current credit status is a huge factor in determining the smooth home buying experience. Mortgage loan companies check your credit before approving your loan and deciding your interest rate and approval terms and conditions. Make sure you have enough credit before beginning the procedure. Moreover, improve your credit score and avoid any error which might make you suspicious for loan approval. Most loan lenders give considerable importance to the credit score as it signifies your reputation and possibility to return the loan on time.
Hire the Right Realtor:
You can’t know better about the best locality for buying a home, its houses and neighborhood than a realtor, even if you are a native of that place. Choosing the right home for buying requires a lot more knowledge of different things than just knowing about the location of a locality. That’s where a real states agent helps you! Hire a native realtor with many years of experience in the field as he will know each and every aspect of the houses of that place.
Moreover, go for a realtor who is dedicated and self-motivated to fix the best deal for you. No matter how excited you feel about buying your home, don’t forget to have some pre-planning and right strategies in your hand. Your home is your dream place; don’t turn it into a nightmare!
15 Concrete High-Rise Projects That Will Transform Surrey City Centre
The City reported $1.46 billion in building permit values in 2020, and Mayor Doug McCallum is confident that despite a brief dip in construction at the beginning of the pandemic, construction trends will continue through 2021.
Looking at upcoming concrete high-rise projects in the City Centre core, there looks to be 15 projects nearing the end of their application process. If all goes smoothly in their final stages, we can anticipate a total of 9,743 residential units, as well as a substantial supply of office and retail space, and community amenities.
Holland Parkside – 9905 King George Blvd & 13545 – 13583 98A Ave
(Project # 18 – 0217; more information found here: https://bit.ly/38X8VL2)
A rezoning and general development permit application has been filed with the City of Surrey to allow for the development of Holland Parkside with four towers, creating a master-planned mixed-use transit-oriented neighbourhood at an important Surrey City Centre destination and crossroads. The plan proposes a 204 suite 19-storey market rental apartment building and a 10-storey office building, both fronting on King George Boulevard, a 42-storey condominium apartment building in the site’s southwest corner and a 36-storey condominium apartment building in the site’s northwest corner. Along King George Boulevard will be an active retail/commercial frontage directly across the street from the SkyTrain Station, creating a mixed-use podium on top of which will be an expansive courtyard between the four towers.
10335 133 Street
(Project #: 18 – 0125; more information found here: https://bit.ly/2rAK4ZJ)
The proposal is in its third reading to rezone the property from Single Family Residential Zone (RF) to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of a 26-storey high-rise residential tower consisting of approximately 223 dwelling units.
13317-13335 King George Blvd
(Project #: 17-0397; more information found here: http://bit.ly/2wEP5jr)
The proposal is in its third reading to rezone the property from CHI and CD to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of a multiple residential developments consisting of three high-rise buildings with podiums and two low-rise buildings (Phase One (1) 239 Residential Units and 583 sq. m. of Commercial Space).
Parks & Yards – 9656 King George Boulevard
(Project #: 18 – 0276; more information found here: https://bit.ly/ADkuc5)
A rezoning has been approved and a development permit has been issued for the development of a 38 storey high-rise residential tower including 6 levels of commercial and a low-rise commercial building, including the preservation of the North Surrey Medical Building.
10440 Whalley Boulevard
(Project # 19-0202; more information found here: https://bit.ly/2MZJEpQ)
The proposal is in its third reading to rezone the property from Downtown Commercial Zone (C-35) to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of a 31-storey high-rise residential tower consisting of approximately 234 dwelling units.
13265 104 Avenue
(Project # 18-0393; more information found here: https://bit.ly/2Msm2uD)
The proposal is in its third reading to rezone the property from Multiple Residential 45 Zone (RM-45) to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of a 21-storey rental apartment building and 26-storey market apartment building in City Centre consisting of 424 residential units.
Rize Passages – 10138 Whalley Boulevard
(Project #: 7918-0289-00; more information found here: https://bit.ly/2BmRtAb)
The proposal has been approved for rezoning and a development permit has been issued for a mixed-use project, consisting of three high-rise residential towers (23-storey, 32-storey and 39-storey), two 13-storey mid-rise market rental residential towers, one 6-storey apartment building and ground-level retail/commercial space including a café and daycare.
13245 104 Avenue
(Project # 18-0443; more information found here: https://bit.ly/2P6KNP3)
NO RENDERING FOUND
The proposal is in its third reading to rezone the property from Multiple Residential 45 Zone (RM-45) to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of a 13-storey rental apartment building and a 16-storey market apartment building on the subject property in a two-phase development in City Centre.
13437 105 Avenue
(Project # 19-0223; more information found here: https://bit.ly/31z3PQI)
The proposal is in its third reading to rezone the property from Single Family Residential Zone (RF) and Duplex Residential Zone (RM-D) to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of a 1,026 residential units and 466 sq. m. of commercial space within two high-rise residential towers and one mid-rise residential building including a ground floor child care facility and associated amenity space.
10547 City Parkway and 13468 105A Avenue
(Project # 19-0214; more information found here: https://bit.ly/2P0EbRX)
The proposal is in its third reading to rezone the property from Single Family Residential Zone (RF) to Comprehensive Development Zone (CD) and its development permit is in the Approval to the Draft stage for the development of 2 high-rise residential towers consisting of approximately 1,014 dwelling units in City Centre.
13748 104 Avenue
(Project # 7919-0060-00, 7919-0060-01; more information found here: https://bit.ly/2zz0KHJ)
The proposal is in its third reading to rezone the property from Community Commercial Zone (C-8) and Comprehensive Development Zone to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of a mixed-use phased development consisting of three high-rise buildings. Phase 1 consists of a 33-storey residential tower with ground floor commercial space.
10731 King George Boulevard
(Project #: 19 – 0048; more information found here: https://bit.ly/2pH78bG)
The proposal is in its third reading to rezone the property from Community Commercial Zone (C-8), Town Centre Commercial Zone (C-15) and Highway Commercial Industrial Zone (CHI) to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of a mixed-use high-rise building.
Brightside – 13550 105 Avenue & 13583 104 Avenue
(Project #: 18 – 0350; more information found here: https://bit.ly/2rrDVlp)
The proposal is in its third reading to rezone the property from Community Commercial Zone (C 8) and Highway Commercial Industrial Zone (CHI) to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of a mixed-use phased development consisting of three high-rise buildings and two low-rise buildings. Phase 1 consists of a 40-storey residential tower with ground floor commercial space.
10662 King George Boulevard
(Project #: 19-0372; more information found here: https://bit.ly/2tR3JsD)
The proposal is in its third reading to rezone the property from Town Centre Commercial Zone (C-15) to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of 2 mixed-use high-rise towers consisting of approximately 1,019 residential dwelling units and 731 square metres of commercial floor area in City Centre.
The Holland (Phase 2) – 13333 Old Yale Road
(Project #: 19 – 0105; more information found here: https://bit.ly/2UoHV11)
The proposal is in its third reading to rezone the property from Comprehensive Development (CD) Bylaw No. 19661 to Comprehensive Development Zone (CD) and its development permit is in the Approval to Draft stage for the development of a 32-storey residential apartment building in City Centre.
Despite Pandemic, Surrey’s 2020 Building Permit Value Exceeds 10-Year Average
Surrey, BC: Economic confidence within Surrey remains strong, as the City records $1.46 billion in building permit value last year, surpassing the 10-year annual average. Residential building continues to be resilient, making up for $1.1 billion of the construction value. Industrial building permits were just shy of the record-breaking 2019 revenue, making up for $238 million of total construction.
“Despite a brief dip in construction when the pandemic first hit, investment rapidly bounced back, showing the confidence in Surrey as a prime destination for new business and residents,” said Mayor Doug McCallum. “The Surrey SkyTrain expansion, combined with an increased demand for housing and commercial space in Surrey makes us confident these strong construction trends will continue through 2021.”
As a result of the physical distancing measures in place, the City launched an online permit application process, creating a more convenient, transparent and streamlined process for customers, while further cutting wait times.
In 2017, Single Family Dwelling permit wait times peaked at 25 weeks, and now the average is only 9 weeks. The flexibility of applying online proved to be convenient for businesses, with 35% of trade permits being initiated outside of regular business hours. 98% of electrical permits and 86% of plumbing permits were also issued online.
“The new online permit process delivers both a safe and convenient way for customers to continue to operate their businesses, while further positioning the City to handle the expected surge in construction as our city continues to rapidly grow,” said Councillor Mandeep Nagra, Chair of the Development Advisory Committee.
“We are continually looking for ways to advance our services, and this step has benefitted both those applying for permits, and the operational efficiencies at the City.”
Province Approves 91 Affordable Housing Units for Surrey’s Legion Veterans Village Multi-Purpose Social Infrastructure Project
Affordable housing units to be managed by Vancouver Resource Society
The Legion Veterans Village (LVV) project has reached yet another development milestone with the Province, through BC Housing, approving 91 affordable housing units for the mixed-use, multi-purpose project that will provide housing, healthcare and Legion facilities dedicated to serving the needs of Canadian veterans and first responders.
Led by the BC/Yukon Command of the Royal Canadian Legion, together with Whalley Legion Branch 229 and Lark Group in Surrey B.C., this unique $312-million, two-phase, multi-purpose social infrastructure project is envisioned to be the first of many such projects across Canada.
“Our veterans have sacrificed so much and they deserve a safe and affordable place to call home where they can get the services they need,” says David Eby, Attorney General and minister responsible for housing. “Our government is committed to building more affordable housing and this project in particular will be an important centrepiece in Surrey.”
Inspired by the forms of the iconic Canadian National Vimy Memorial in France, the centre piece and phase one of the LVV development is a twenty-storey mixed-use building which includes the newly approved 91 affordable housing units to be managed by the Vancouver Resource Society (VRS), to compliment an additional 171 market housing units in phase one, 325 market housing in phase two, with priority for the affordable units given to Canadian veterans, first responders, Legion members and their families.
“British Columbia places great importance in providing affordable housing, healthcare services and innovation to the province and there are no other projects that combine these elements so efficiently under the same umbrella as the Legion Veterans Village,” says Bruce Ralston, MLA for Surrey Whalley.
“We look forward to seeing this project succeed in Surrey especially here in Whalley so the rest of Canada can look towards this as a model and beacon for veterans and first responders with PTSD.”
“Legion Veterans Village is a truly unique project and we are proud to be the first city in Canada to host such a comprehensive multi-purpose development that serves and supports our veterans and first responders, as well as our community at large,” says City of Surrey Mayor Doug McCallum.
“The demand for more PTSD and mental health programs has never been higher, especially during these COVID-19 times. The healthcare innovation and clinical research from LVV will help meet this demand and serve our vulnerable communities.”
Phase one of LVV will also include Canada’s first Centre of Excellence for veterans and first responders focusing on post traumatic stress disorder (PTSD) and mental health, and an Innovative Centre for Rehabilitation, offering clinical rehabilitation services, research and the delivery of health care programs, services and trauma counseling for PTSD and mental health.
It will also feature a new 10,500 square-foot, state-of-the-art facility for the Whalley Legion Branch 229, that will include a cadet assembly hall, banquet facilities, an industrial kitchen, coffee shop and bar/restaurant area, and underground parking.
Phase two of LVV, and complement to the Veterans building, is a new twenty-six-storey building that consists of 325 additional market housing units. The current phase designs are by Neil Banich of WA Architects Ltd.
“VRS is responding to the needs of the City of Surrey by meeting the demands of the growing list of seniors, families, and persons with disabilities who require accessible and affordable housing,” says Ken Fraser, Executive Director of the Vancouver Resource Society.
“We are excited to partner with the Legion Veterans Village to bring affordable housing to veterans, first responders and their families in Surrey as well as access to a continuum of healthcare services, PTSD and mental health treatment and rehabilitation programs, with Legion and Cadet facilities all within the same development.”
Located at 10626 City Parkway, Surrey, the 91 affordable housing units in phase one will include a mix of studio suites as well as one and two-bedroom suites, with 10 units designed specifically to meet VRS requirements for accessibility.
“We have been serving our Whalley community in Surrey since 1960 and this new Legion Veterans Village will be the catalyst for change for our Legion to not only better support our members, but also ensure our future legacy,” says Tony Moore, President of the Whalley Legion Branch 229.
Construction for Legion Veterans Village is underway with phase one to be completed in late 202
Vancouver Resource Society (VRS)
Since 1972, VRS has been providing housing and care services to children, young adults, families, and seniors dealing with disabilities in a variety of housing environments (shared-care to independent apartment/strata living). Their services provide innovative opportunities for individuals and families to maximize their independence and inclusion into their community.
This is achieved by partnering with forward-thinking municipalities and developers who see the benefits of the inclusion of all its citizens in their community. By developing a positive working relationship with municipalities and developers, VRS is able to continue to provide affordable and accessible housing. www.vrs.org
Legion Veterans Village (LVV)
Image: Photo rendering of the Legion Veterans Village
The Legion Veterans Village is a unique $312-million, two-phase, multi-purpose social infrastructure project in the City of Surrey, led by the BC/Yukon Command of the Royal Canadian Legion, together with Whalley Legion Branch 229 and Lark Group.
The project includes a mix of 495 market housing condominiums, 91 affordable housing units, a Centre for Excellence for veterans and first responders focusing on PTSD and mental health, an Innovation Centre for Rehabilitation and a new facility for the Whalley Legion Branch 229.
Once completed (slated for late 2022), a key priority will be the integrated delivery of a continuum of programs and services for veterans and first responders, as well as contributing training and research towards new practices, interventions and technologies in mental health, counselling, engineering, robotics and advancements in neuroscience, etc.
Flash Sale with U-Eight Income Properties in Kelowna
2021 is just around the corner so why not get a head start and make some goals for your financial future? There’s no time like the present to begin your property investment journey.
If you have been searching for an investment-worthy area in BC, look no further than the sunny Okanagan. Just steps from UBC’s busy Okanagan campus and North Kelowna’s business district lies U-Eight, a new development of move-in-ready homes that are perfect for anyone looking to build their investment portfolio. The University District’s appeal is met with an urban atmosphere surrounded by nature’s beauty and enjoyed by the university community, families and professionals alike. This thriving centre is not only rich in arts, culture, and academics, but also on the verge of expansion and growth.
Now is the time to take advantage of U- Eight’s flash sale from November 21st to 30th. With discounts of up to $50 000, two- bedroom homes will start from $344 900 and three bedrooms from $424 900 during this 10-day sale. Current low interest rates are an advantage for those who want to enter the real estate market in this quickly developing and growing community. Furthermore, demand for rental housing in Kelowna, steady UBC Okanagan enrollment and growing industry add to the favourable investment environment. U- Eight homes are move-in ready so you can begin your income property adventure as soon as possible.
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As an income investment property, U- Eight checks all the boxes for liveability. UBC Okanagan’s campus is a 5-minute walk and North Kelowna’s Business District is a short drive away. Commuting is efficient with transit routes and walkable neighbourhoods right at your doorstep and a variety of restaurants, wellness services, boutiques and local specialty shops conveniently accessible. The connection between people and place is visible in the design of the development, allowing for easy modern living while complementing the natural beauty of the region. The U-District is also connected to Glenmore, Lake Country, Winfield and Kelowna International Airport (YLW), allowing you to enjoy the amenities of these neighbouring areas. Many flexible options exist for those with various lifestyles – there’s truly something for everyone.
Invest in U- Eight during this flash sale and begin reaping the benefits of your income property. Connect with U-Eight’s, Terra Shalaby at 604-332-2150 via phone or text. If you are curious and want more information on the U-Eight development please visit liveatueight.com
$16 Million In Federal Funding For Affordable Housing Allocated To Surrey
Surrey, BC – $16.3 million in funding for new permanent affordable housing has been earmarked for the City of Surrey. The injection of money is a result of the federal government’s Rapid Housing Initiative and will create a minimum of 33 units of new permanent affordable housing in Surrey.
“In order to affect real change in affordable housing, senior levels of government have to step up and partner with municipalities on this front,” said Mayor Doug McCallum.
“That is exactly what the federal government has done with the Rapid Housing Initiative. The projects that will be created by this funding will not only help alleviate some of the pressing needs surrounding affordable housing now, but it will be of great value in positioning us for the future. As one of the fastest growing cities in the country, I am very pleased that Surrey has been identified to receive federal funding from this very worthwhile housing initiative.”
The Rapid Housing Initiative is delivered through the Canada Mortgage and Housing Corporation and the funds can go to cover the construction of modular housing, the purchase of land and the conversion of existing buildings to affordable housing.
“I would like to thank the federal government for stepping up to fund such an important initiative,” said Cllr Laurie Guerra, Board Chair of the Surrey Homelessness and Housing Society. “This program is indicative of the partnerships we need at every level of government to help solve the affordable housing issue that we face in the Lower Mainland.”
City staff will begin work on an investment plan to outline the proposed capital projects. Upon approval of the plan, construction will be completed within 12 months of the finalization of the funding agreement.
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