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11th Annual National Garage Sale

On May 11, 2019, Royal LePage Nanaimo Realty will host the 11th Annual National Garage Sale in support of the Royal LePage Shelter Foundation.

This event will bring the community together to raise much-needed funds and awareness to help break the cycle of family violence. Proceeds will be directed to Nanaimo’s local women’s shelter, Haven Society:

Where: Royal LePage Nanaimo Realty parking lot

Time: 9 a.m. to noon

Date: Saturday, May 11th

Donations kindly accepted.  We cannot accept mattresses, clothing or large furniture items.  If you are wanting to donate items or volunteer please reach out at 250-713-7064 or email me at: susan@nanaimorealestate4sale.com

Royal LePage Nanaimo Realty’s office is hosting this event because…

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Underground Oil Tanks

When a home buyer is reading a residential property disclosure statement, under the Land heading, Question C reads:
“Are you aware of any past or present underground oil storage tank(s) on the Premises? “
A seller could be stating No, but that doesn’t mean that there is not an underground oil tank, only that the seller is not aware of one.

A big fear for home buyers, lenders, and insurers is the possibility of an underground storage tank (UST) that would have had oil stored in it for heating a home. USTs were often used in homes that were built prior to 1970. In some municipalities, USTs were encouraged as lot sizes were smaller and above ground tanks took up a lot of room. The thought was to bury them to make more efficient use of outdoor space. An underground oil tank can cause many issues, mainly contamination to the surrounding soils and groundwater if unused over many years. To mitigate the potential hazards of purchasing a home with a UST, you can hire a company to scan the property to find out if there ever has been one located. Additionally, a seller whose home was built before 1970 and who has never had his or her property checked would be wise to scan the home and property to prevent any issues during the sale. Continue reading

What is a 2-5-10 home warranty?

The 2-5-10 home warranty may be included in the purchase of your home, and it protects homeowners from a range of construction defects over a designated period of time. The cost of the warranty insurance is included in the purchase of your home.

There is a two-year coverage for materials and labour, meaning any fault in materials and labour or a violation of the Building Code. These materials and labour are for the supplied electrical, plumbing, heating, ventilation and air conditioning delivery systems’, as well as for exterior supplies and anything that may lead to detachment or material damage to the new home. Continue reading

About Nanaimo

Nanaimo is an ideal place to live for people looking for affordability, a central Vancouver Island location and easy access to the Mainland, Mount Washington Alpine Resort, Victoria, Tofino and other recreational destinations. With a population nearing 100,000 residents, and a 6% growth rate since 2011, Nanaimo offers ample amenities, activities, parks and trails to satisfy everyone.

Access to and from the Mainland has never been so easy. Nanaimo has two ferry terminals: Departure Bay, which leads to West Vancouver in under an hour and half, and Duke Point, which leads to Tsawassen in two hours. Ferries run daily with several departures. Continue reading

Advertising your rental unit in Nanaimo

Advertising your Rental Unit in Nanaimo

The way to advertise the rental property will depend on a variety of factors, such as size of unit, age of building, number of bedrooms, location, selling features that separate your unit from the competition.

Photos tell a thousand words and are very important. Ensure that you have some high quality photographs of the exterior, all bedrooms, kitchen and living room.

Most of all ensure that they are an accurate display of what the unit looks like. Continue reading

First time home buyers checklist

First Time Home- Buyer’s Checklist

So you have decided that you want to make the big plunge and buy real estate. Congratulations! Researching the process is the first step.

1.) – Create a budget – One of the first steps is to get qualified for a mortgage but another thing is to be realistic on currently where you are spending your money and if your mortgage is going to be substantially larger than your current rent how are you going to change your lifestyle to be able to afford the home. I’m enclosing a link where you can create a budget and save it online. Continue reading

Real Estate closing costs for Seller’s

Closing costs for Seller’s:

It is important when considering selling your home to be able to calculate what you will net from the sale once paying all of the expenses associated with selling real estate.

There are many costs involved with selling a home that you must be aware of. One of the most expensive fees can be the penalty to discharge your mortgage if you have one. It is a very good idea to touch base with your lender to discuss your options prior to listing your home for sale. One option that may be available to you is to port your mortgage; in other words, transfer it over to your new property if you are planning on purchasing another home fairly soon and you will still require a mortgage. Continue reading

Purchase plus improvements mortgage – How to get your renovations done sooner.

Purchase plus improvements mortgage

Have you been looking for a home in Nanaimo and have found one that is of interest but you feel it needs some work, such as a new kitchen, roof, windows and flooring?

If you feel this home has great bones but needs some renovations, you may be applicable for a purchase plus improvements mortgage which allows you to roll immediate renovation cost into your mortgage. You could then purchase a home and do the necessary renovations immediately in order to make the home more liveable from the moment you move in. Continue reading