Gena Belanger brings to the negotiating table 17 years of Real Estate experience, including expertise in Residential, Project Marketing, and Commercial Sales and Leasing. In these challenging times it is crucial to work with an agent with experience in the Residential and the Commercial market to gain an overall market perspective. Feel free to contact Gena with any questions or comments.
Garibaldi Highlands one level rancher, located on a quiet street with a very private large lot.
The home has 2 bedrooms and a large living room and updated kitchen, The master bedroom, leads to the back deck with a hot tub.
Oversized single garage.
Downtown Squamish
37717 Second Ave
Industrial zoned
Unit 101 (1600 sq feet)
Unit #102 (800 sq feet)
Unit #103- (800 sq feet).
Small office on Second Floor $450 per month
Call for information,
Available February 01,2010
Here are the 3 option available when considering a lot purchase & construction build:
1) Purchaser of the lot obtains an unconditional mortgage approval �
This encompasses the financing of a lot purchase and the cost to construct
all under the umbrella of 1 mortgage
Benefits
-A construction mortgage rate of interest is cheaper to finance than a
lot-loan (and can be applied for the lot purchase as long as there is a
construction contract in place)
-Avoids a situation where a purchaser may have the means to finance the lot
but not the construction of their house
-Purchasers can finance the lot purchase and construction (therefore a
builder doesn’t have to finance the purchase until completion date; instead
the builder simply gets paid in construction draws as the construction
proceeds). This typically how a construction mortgage works when you hire a
contractor to build for you
-Purchaser can finance as much as 95% of the construction cost via CMHC
-Much more cost friendly for the buyer
Drawbacks
-In the event a purchaser requires their down payment from the sale of the
existing home they need to be organized and have their home sold prior to
making an offer on a lot (unless they have the means to finance a lot and
construction while keeping their existing home)
2) Purchaser buys the lot with cash or takes on a lot-loan, prior to construction
Benefits�
-purchaser can own the lot indefinitely without having to build (Subject to
municipal guidelines)
Drawbacks
-purchaser has the additional legal cost of purchasing the lot now and the
legal cost of registering a mortgage at a later date
-lot loans are much more difficult to approve for financing based on a
purchaser conditioning their construction contract on the sale of their home
(unless they can afford to carry the lot loan and an existing mortgage). The
interest rate on a lot loan is higher than on a construction mortgage.
3) Purchaser refinances an existing property to purchase the lot
Benefits
-No pressure to sell existing home right away
-Money can be borrowed at regular mortgage rates
-Lot is owned F&C (purchaser could make a subject free offer; no condition
to financing)
Drawbacks
-Potential tax concerns
paul.hudson@rbc.com Paul Hudson | Mortgage Specialist | RBC Royal
Bank Squamish & Whistler | 38100 Second Avenue, Squamish, BC V0N 3G0 |
Reduced! Great investment opportunity in The Squamish Business Park. Currently operated as a car detailing spa. Current occupant may stay on and lease premises back for new buyer. Call Listing Realtor for more information. Click here for full listing.
11 38927 Queensway
Tags: business, Commercial, Squamish
$750,000
Great building lots, 4 in total, located at the entrance to The Skye development. Within walking distance to the Squamish oceanfront and downtown shopping. View of the water sanctuary on the south side of the property.
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Function Junction
#1-3 1212 Alpha Lake Rd
Whistler BC
This is a lease sublet.
Premises 4500 sq ft
Current Lease expiry Oct 31 2010, with option to renew, Rents $63,000 Plus GST Additional Rents estimates at $5.75 psf.
Four months of lobbying appears to have paid off for the provincial homebuilding industry, as the government yesterday announced it will increase the threshold for the harmonized sales tax rebate on new housing.
The increase, to $525,000 from the previously announced $400,000, is designed to ensure the majority of new home buyers in B.C. will not pay more tax as a result of harmonization.
The HST, which combines the five per cent GST and seven per cent provincial sales tax, is to be implemented July 1.
According to Casey Edge, spokesman for the Victoria branch of the Canadian Homebuilders’ Association, it’s one blow struck in the battle for housing affordability.
“We asked for a threshold of $600,000; they have announced $525,000, which is certainly better than what was being offered previously, but we also think it is the number that would have been arrived at had there been consultation with industry and proper policy development done,” he said. “That said, it leaves more money in the pockets of consumers buying a home. Housing affordability was always our issue [with HST] and it is still our issue.”
Edge said in cities like Victoria, where the average price of a new home is $600,000, the increased rebate threshold only works if the province “gets serious about their commitment in the Throne speech to address affordability.”
“The costs will continue to increase. The rebates will become less significant unless government deals with that issue.”
The homebuilders have suggested a number of ways to deal with affordability, including scrapping the property transfer tax — a tax that gets embedded in the final price of a home, as it’s charged on the sale of land to a developer and from a developer to a contractor and then passed on to the home buyer.
“The government clearly deserves credit for listening and at least partly addressing the issue with the increase, but it’s just one part of the solution — now they need to look at the other parts,” said Edge, noting homebuilders are still concerned the HST provides a boon to the underground economy.
With the threshold increase, purchasers of new homes costing up to $525,000 will be eligible to receive a rebate of 71.43 per cent of the provincial portion of the HST, up to a maximum of $26,250.
Homes over $525,000 would receive a flat rebate of $26,250, but the buyer would pay the higher rate on the balance.
When the HST was first announced, the threshold was set at $400,000 and the maximum tax rebate was set at $20,000.
“We heard the concerns from consumers and industry about how the HST might affect home buyers, and this increase will move the threshold to above the average new-home price in the province,” said Finance Minister Colin Hansen. “A similar rebate will also support the construction or substantial renovation of affordable rental housing.”
Victoria real estate agents also welcomed the announcement, though Victoria Real Estate Board president Chris Markham suggested the government ought to go further.
Markham said agents would still like to see the HST applied only to the value of the house itself.
“This would create a more level playing field across the province given the wide range of land values throughout the various real estate markets in B.C.,” said Markham.
John Winter, president and CEO of the B.C. Chamber of Commerce, also applauded the decision.
“Residential real estate and home building are key economic drivers for this province,” Winter said. “We are glad to see that the government is committed to carry out the HST transition as smoothly as possible for these sectors, and we look forward to seeing the continued implementation of mitigation strategies in the coming months.”
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Click here for full virtual tour.
$505,000
Arbourwoods. Deluxe post and beam timber home. Located in central Squamish. Overheight vaulted ceilings are just a taste of the list of extras this home offers. The open warm floor plan offers master bedroom on the main level with luxurious ensuite. The open kitchen with gas stove, stainless appliances and granite countertops is adjacent to the dining room and livingroom, which opens to below den/family area. There is also a 3 sided gas fireplace,in combination with a heat pump to ensure quality energy efficient heating throughout the year. On the lower level is an oversized garage and extra storage. This home is in like new condition and available for immediate occupancy. Within walking distance to all amenities
Squamish Hideaway – Absolute Privacy: Corporate retreat or family estate – 45 min to Whistler. This magnificent custom home is now offered for sale. Designed by well know designer, Jamie Martin of Graph-Tech Designs. This 8000sq ft home offers spectacular mountain views. Situated on 3 acres of private, manicured landscape and surrounded by forest and creek. The open concept plan is perfect for entertaining and living the lifestyle. Includes a home theatre and gym downstairs, and a separate nanny suite providing complete privacy to the homeowner. Available for 2010 Leasing
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