Ready to buy your first home in Nanaimo in 2023? I specialize in helping first-time home buyers like you find their dream property in Nanaimo.

Before you start searching for homes online, it's important to take the first step to house shopping: Getting pre-approved for a mortgage.

Your pre-approval will tell you what you can afford and what your monthly payment will be, so it's important to determine this before you start searching for your new home.

Pre-approval is good for about 30-90 days, so once you're ready, take these first 3 steps to get it done.

1.  Contact me, and I’ll send over a list of lenders I know and trust.
2.  Look over the list, check out online reviews, and ask friends and family for referrals.
3.  Email 2-3 lenders you like or let me introduce you over email.

Once you've got your pre-approval letter in hand, it's time to start the search!

Before we hop into the home search, I like to advise my clients to create a "Needs" list and a "Wants" list. This will help us to really focus on the things that are most important in your future home.

Needs are the non-negotiable features; the features you simply must have in your next home. Wants are the ones you’d like to have, but you can add or change down the road. Remember, you can’t change the lot or the location so make sure you love both.

Once you've established what you're looking for, I will set you up on a search so you can receive an email the second a home that fits your criteria goes live. If you have any questions about a property, send me the information and I will find out for you. Send me listings you like and I can get more information and set up showings on your behalf.

After touring houses and choosing the one you love, it's time to make an offer. To do this, you'll need your pre-approval letter or proof of funds. You'll also need to make a deposit of at least 1-2% of the purchase price. This will go towards your closing costs at closing.

Have more questions about buying a home or what happens after making an offer? Reach out to me today!

The final walk-through on your new home is an exciting event. It means you have successfully maneuvered through negotiations, inspections, and financing approval, and are on the verge of signing your closing papers. Most buyers attend the final walk-through with thoughts of furniture placement and paint colors in their heads. But the walk-through is about more than just making sure your favorite chair will fit by the fireplace. Be sure to do your due diligence to make sure there are no issues that should be resolved before you reach the closing table.  

The purpose of the final walk-through is to ascertain that the home is being conveyed to you in the same condition it was when you agreed to purchase it. Here are a few of the things you should check: 

1. Make sure no damage has occurred to the home that the sellers are responsible for repairing. Weather conditions or careless movers can cause accidental damage, and old and forgotten damage may be uncovered when the sellers’ belongings are removed.
2. Check that appliances are still in working order and no new plumbing or electrical issues have popped up. While you aren’t doing a complete home inspection, you can visually check for obvious problems that should be repaired before you move in.
3. Confirm that items contractually conveying are present. If the sellers agreed to leave particular furniture, décor, or equipment, see that it has not been removed. 
4. Make certain the sellers have removed all their belongings. You don’t want to arrive with the moving truck only to find out that the sellers left behind an assortment of unwanted furniture or trash. The sellers should be held responsible for removing everything that doesn’t convey with the sale.

1. How do I pick a contractor?

Ideally, you want to build the same kind of relationship with your contractor as you do with your real estate agent: one built on trust that makes you want to go back to that person for any future needs. Your contractor should be a very good listener and communicator. You want them to “get” your vision for your home, and to keep you in the loop every step of the way. Do your due diligence by checking out contractors’ reputations, talking with other clients, and looking at work they have done previously before you make your selection.

2. How much will my project cost?

Of course, the answer depends upon the scope of your project, but in order to get the best estimate from your contractor, take time to write down each detail of your plan so that the contractor can include everything in their estimate. Renovations are famous for taking longer and costing more than originally planned, but this is often because the homeowner makes additions or changes along the way, or they don’t realize that, for example, if you move a wall in your home, you may have to then reroute electricity and outlets. One item often leads to another, so you have to look at everything piece by piece.

3. How long will renovations take to complete?

As we said above, this depends on the amount of work being done– and how many changes are made along the way. The more pre-planning you do, the better estimate your contractor can give you.

4. How do I prioritize projects?

If you are living in your home during renovations, you may want to plan out the project in phases, so you can live out of some rooms while others are being worked in. You may also need to phase projects based on cost and availability of funds.

5. Where do I begin?

You begin by conducting a lot of research. Start a look book for your home, either in a notebook or online, collecting pictures of the look and finishes you want. Talk to different contractors, and visit kitchen, bathroom, appliance, and flooring showrooms to get ideas on selections and pricing.

6. Do I need permits?

Your contractor will know what projects require permitting. Make sure that you do abide by permitting regulations, as failure to secure proper permits can come back to bite you if further work is needed down the road. As well, when you sell your home in BC you'll have to report any renovations made without a permit as a "material latent defect". 

7. How much will renovations increase my home value?

Every homeowner hopes that making improvements will increase their home’s value, and this is usually the case, but sometimes what homeowners view as improvement can turn out to be liabilities to future buyers. For example, don’t put so much money into the house that it becomes more expensive than the rest of the neighborhood. And be careful not to add personal style preferences that can’t be easily changed, like ornamental fixtures, radical architecture, or unusual landscape features.

8. How should I pay for renovations?

If you have the cash to pay for your renovations, that’s certainly a good way to go. Otherwise, you might consider a home equity loan with a manageable monthly payment or a revolving line of credit that you can use for renovations as well as emergencies that may arise later.

If you have a home to sell, you’re probably excited to get the process started. There are many things you need to consider when selling your property, and it’s hard not to feel overwhelmed by the task. The good news is we’ve done extensive research about what you need to know about selling your home – and we’ve answered the questions you’re probably wondering:  

How will you determine my home’s value?  

To determine your home’s value and set a listing price, I will complete a Comparative Market Analysis. The CMA uses recent sales of homes close in geography, age, size, and features to yours. (A CMA is not the same as an appraisal, which a licensed appraiser can perform.)  

Is it a good idea to start high?  

Many sellers like the idea of “starting high” to see if they get higher offers, but this strategy isn’t usually practical. First, buyers may not see your listing if they use a price filter set to what they expect prices in the area to run. Second, you run the risk of the appraisal coming in lower than your contract price, which will require your contract to be renegotiated or canceled. Third, if your listing price puts your home higher than your neighborhood value, your home will likely sit on the market longer as buyers wait for you to make a reduction. It’s best to set a realistic listing price that will bring you buyers quickly. My goal is always to get you the highest possible price in the shortest amount of time.  

What percentage of the listing price can I expect to get?  

The list-to-sell ratio is determined by dividing the selling price by the listing price. The ratio is largely market-driven. In a sellers’ market, which is when inventory is low, sellers may get close to 100% or over 100% if the home sells above list price. In a market with a large inventory of homes, a buyers’ market, buyers have more negotiating power, so the list-to-sell ratio may be closer to 90%. My goal is to get you as close to a 100% list-to-sell ratio as the market will bear.  

How soon can I get my home on MLS?  

Once we agree to work together, I will begin gathering information on your home and preparing your MLS listing contract. I will also schedule a time for a professional photographer to take photos of the property. As soon as all the information and pictures your listing can go live on MLS.  

What do I need to do to get ready to list?  

For your part, it’s a good idea to begin cleaning out or organizing storage spaces, closets, and drawers and putting away some of your décor or belongings. You may also want to have the exterior pressure washed, and the landscaping cleaned up. We can talk further about specific things that will help your home show better.  

How will showings be conducted?  

You and I will agree on the terms you are comfortable with for showings. We want to make the home accessible to buyers without too much disruption to your personal life. We can use a showing schedule, and unless we agree otherwise, I will notify you in advance of showing requests. We use electronic lockboxes that only active members of our local Realtors association can access. We can set the lockbox on a schedule, if necessary. Any time the lockbox is accessed, I receive a notification.  

How will you market my property?  

Marketing your listing is of utmost importance. Most buyers find their properties online through MLS (via their agent,) Realtor.ca or other search engines. Listings in our MLS system automatically show up on these sites within a day or two of becoming active. In addition, I share my listings with the agents in my network, on my website, and on my social media. We can discuss additional opportunities such as hosting open houses,online advertising, and marketing within your neighborhood.  

How long will it take to find a buyer?  

Several factors influence the time it takes to find a buyer. These include the market conditions, price range (higher-priced or luxury homes typically take longer to sell,) location (whether your home is in a desirable neighborhood or a unique location,) and the condition of the home (is move-in ready or in need of renovations?) In a balanced market, most houses, when priced accurately and without significant damage or extenuating circumstances, go under contract within thirty days. Homes sell faster in a seller’s market, while buyers take more time to look when inventory is high.  

Will you qualify the buyer?  

When an offer is received, I will work with the buyer’s agent to vet the buyer. All offers should be accompanied by either a pre-approval from a mortgage lender or, if paying cash, by verification of funds available to cover the purchase price. Once you accept an offer, the buyer must put down the agreed upon deposit, schedule any inspections as stipulated in the contract, and, if financing is involved, their lender will initiate the loan approval process. I will stay in close contact with the buyer’s agent to make sure due process is followed.  

What are the costs involved?  

The seller usually pays for the real estate agent fees, which are divided between the buyer’s agent and the seller’s agent. The seller also pays their share of the property taxes. If the full annual amount has been paid, the buyer will repay their portion back to the seller at closing.

Will you also represent the buyer?  

In our market, there is a ban on dual agency. A real estate agent cannot be in an agency relationship with both the buyer and the seller in a transaction.

Can I cancel if I find my own buyer?  

The listing agreement is a contract between you and me and/or my brokerage. It stipulates the terms for cancellation, which you are encouraged to review. Once we have signed the listing agreement, a prospective buyer that approaches you directly should be redirected to me.  

How often will we communicate?  

Communication is key to an easy and successful sale. I will keep you appraised of events every step of the way. You are welcome to reach out to me with questions or concerns. When we go over the listing information, we will discuss our preferred means of communication and schedules to make sure we know each other’s availability and boundaries.

Thinking of selling? I'm here to help! Shoot me a message or give me a call today.

The leaves are a-falling which means the pumpkin patch or the corn maze or the haunted house or the hayride or, my fave, the apple cider doughnut is a-calling!⁣
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If you’re looking to dive headfirst into all things fall, check out these October events right here in Nanaimo. 

1. McNabb's Corn Maze: Enjoy the 7 acre corn maze, pumpkin patch, and produce stand. Open 7 days a week now until October 31. Buy tickets online here: https://mcnabscornmaze.com/ 

2. Haunted House: Open Saturday Oct 28-31 from 6:30pm - 10:30pm at 874 Park Ave, Nanaimo. 

3. Local Goods & Ghouls: Located at Woodgrove Centre, the Mom Market team has a special spooky themed night planned, complete with trick-or-treating and lots of fantastic local vendors. 

Wanna learn more about our cozy little patch of the world? DM me! I’d love to chat.⁣

Photo: @girlsatflourish⁣
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Stylist: @rosewoodandivey

Home equity…Everybody wants it, but what exactly is it, and how do you get it?

Equity represents the degree of ownership an individual or entity has in an asset after subtracting any debts against the asset. To say someone shares equity in a company means they would share in any assets remaining after all debts are accounted for.

For example, if your business has sold $500,000 worth of product this year, but you have rent, operating expenses, and a business loan payment totaling $400,000 for the year, you have $100,000 of equity in your business. Equity changes as the value of your assets and debts change.

Home equity works the same way. When you take out a mortgage to purchase a home, your home is collateral on the mortgage loan, so the outstanding mortgage principal must be deducted from the value of the home to determine your home equity.

In most cases, you make a down payment when you purchase your home. That down payment is your initial home equity. If you pay a 20% down payment on a $200,000 home, you have $40,000 equity when you close on your purchase.

As time goes on and you continue to pay down your mortgage principal, your equity grows. Usually, the longer your own your home, the more equity you gain because you are paying down your mortgage. However, any debts you take on using your home value as collateral, such as a second mortgage or home equity line of credit (HELOC,) decrease your home equity.

The changing real estate market also influences your equity. If you paid $200,000 for your home, and two years later the homes in your neighborhood start selling in the $400,000 range, your theoretical equity increases. (Theoretical because you don’t realize your home equity until you sell your home and pay off all debts against it.) You can also lose equity if the market takes a dive but be patient and it should recover in time.

Equity also grows if you make improvements on your home that increase its value. Let’s say you add a swimming pool and all new appliances. You have increased the value of the home. Your equity doesn’t increase by the amount your spent on the improvements, but on the value you get upon resale. This is an important point when considering making improvements prior to putting your home on the market, and one that is often misunderstood.

Let’s say Joe spends $50,000 on upgrades to his home. He might tell his neighbor, “I have $50,000 in my home,” but when he goes to sell, the current market dictates how much he will actually get in return. If Joe ends up selling for $40,000 more than he originally paid, his $50,000 investment got him $40,000 in home equity.

Some things you can do to increase your home equity include:

1) Make a large down payment when you purchase your home. The more cash you put down, the more equity you begin with.

2) Make increased or extra payments on your mortgage principal. Adding to the principal portion only on your monthly payments, or making extra payments when you are able, helps chip away at your outstanding debt.

3) Be smart when making home improvements. Not all improvements build equity. Some improvements may be personal preferences that don’t necessarily add value for resale. Improvements such as a new HVAC system, new appliances, or a new roof are usually more reliable investments than a fountain in the front yard or surround sound speakers throughout the house.

4) Don’t borrow against your home equity unless you must. Home equity is often a homeowner’s biggest asset, and can help to build your retirement nest egg, but it can also come in handy if life throws you a curve ball and you need to borrow against it for an unforeseen emergency. Be careful not to borrow against your equity for frivolous purposes, so it will be there if you really need it.

5) Sell when the market is favorable. If you are counting on your home equity to help finance your next home, pay for your children’s education, or add to your retirement funds, try to sell during a seller’s market when inventory is needed in your area.

Buyer demand continues to outweigh supply in the VIREB market and competition for those few precious listings is fierce. Buyers continue to be frustrated with thier home search as inventory numbers reached an all-time low. The BCREA does not see the inventory situation improving until more supply comes on the market later this year. The BCREA and local real estate boards are advocating with policy makers to encourage streamlining the development process so that municipalities can expand supply more quickly to meet the growing demand. 

It is an exciting time to sell your home as the robust market is impacting prices. Single family homes as a 15% increase over February 2020. Last month, we saw a 56% increase in the sales of single family homes since the same period last year with 417 units sold. 

More than ever, it's important for buyers and sellers alike to work with a realtor to help them navigate the ever-changing envorinment. 

We all want people to love our home as much as we do, but especially when you are trying to sell it! While it’s impossible to please every buyers’ taste, there are several easy things you can do to make your home more appealing without spending a lot of money. Try some of these tricks and see if your showings cause buyers to swoon.

1. Check your curb appeal. Take an honest look from the curbside. What are buyers seeing first? If your home needs to be painted or pressure washed, consider making that investment. Clean up landscaping by trimming trees and bushes, planting some fresh annuals and laying new mulch. Clean windows, repair sagging soffit, or porch railings, and have any trip hazards on your driveway or front walk repaired. Finally, consider some attractive, yet subtle decorations for your front porch.

2. Create an inviting entryway. When buyers step inside your front door, you want them to feel welcomed. If you have a foyer or front hall, it is easier to make an attractive entryway, but even if your front door opens right into your living room, you can create the feel of an entryway with a couple of simple tricks. Clear the area of clutter things that tend to pile up at the front door, like backpacks, dog leashes, or shoes. Place a small table or bench beside the door with plants, candles, or other simple décor. A small area rug can help define the space as the entryway.

3. Let the light shine in. Take advantage of natural light as much as you can. Trimming any bushes or trees outside your windows can help immensely. Wash your windows inside and out and replace or remove any worn screens. Make sure to open blinds or curtains before all showings.

4. Add some fresh color. Painting is an easy and inexpensive way to make an older home look new and is especially important if your current wall color is dark or outdated. Choose a light neutral color like a warm grey or light beige and use the same color throughout the house. If your home tends to be dark, this will help brighten it up.

5. Let storage spaces speak for themselves. Many sellers make the mistake of waiting until they have a contract to start cleaning out closets. Cleaning out clutter is part of getting ready to show, not just getting ready to move. You want buyers to perceive that there is ample storage in the home, and this doesn’t work if every drawer, cabinet, and closet is stuffed to the gills.

6. Eliminate distractions. Streamline your decorating so your buyers see the house and not your personal belongings. Go ahead and pack up collectibles and family photos and keep decorative touches to the minimum. Too many plants, magazines, or toys distract the buyers from seeing the home as their own.

7. Entice them with outdoor space. The back yard shouldn’t be an empty space of infinite possibility, nor should it be a storage area for neglected toys. Get rid of any eyesores you’ve been avoiding dealing with, spruce up your landscaping, repair irrigation or pool issues, and create an entertaining space with a patio set, or a backyard oasis with some potted plants and a hammock.

8. Make it easy for them. Taking care of minor repairs is another step you can take to help buyers see your home as an easy and comfortable move. You want them to be mentally arranging their furniture as they walk through, not making a list of nicked woodwork, torn window screens, and leaky faucets. The less work involved, the easier it is to fall in love.