Clyde Port Moody

An assignment you may want to know about Community is an integral part of living in an urban environment. The heart of Port Moody offers an incredible diversity of people, public gathering spaces, urban expression, and natural surroundings. The city is home to stunning views of the ocean and mountains and offers convenient access to numerous outdoor activities such as hiking, kayaking, and boating. The small-town atmosphere also fosters a tight-knit community where neighbours know and support each other. The city is conveniently located near major centers such as Vancouver and Burnaby, providing plenty of opportunities for employment, entertainment, and cultural experiences. Living in Port Moody perfectly blends natural beauty and urban conveniences. Let me tell you about an incredible assignment opportunity at the sold-out Clyde Port Moody. We call it a lifestyle upgrade! But first, let's understand... What is an assignment of a contract in real estate? An assignment of contract in real estate is a transaction of a property (either presale or resale) in which the buyer of the property “assigns” or transfers their rights and obligations of the Agreement of Purchase and Sale previously agreed upon to another buyer before the original buyer completes/closes on the property. In the case of a presale assignment, you may enjoy specific benefits. You will purchase a brand-new home and may also have the opportunity to make finishing selections, such as colour schemes. You will have a significantly shorter time to wait for the property to be completed than if you were to purchase a pre-sale from a developer. You, as the assignee, may also be able to take advantage of the deposits of the original buyer and put less of a down payment on a property than he would otherwise have been able to. My featured property of the week Clyde Port Moody is an elegant and modern 6-storey (wood frame construction) development offering 117 homes with style and luxury. Homes range from one to three-bedroom units. Almost every home has a generous outdoor space. Units on the penthouse level will feature private rooftop decks. The building will include retail space/shops on the ground level along St Johns Street. Clyde will have a private courtyard with common barbecue facilities and a fireplace lounge. Amenities include a fitness center and lounge, and party rooms. Clyde is conveniently situated minutes from the Skytrain station/Evergreen line, Suter Brook Village and Brewery Row. Start the day with a coffee at Café Divano, Starbucks, or JJ Bean or a delicious treat from Gabi and Jules; enjoy the outdoors at Rocky Point Park with ice cream from the one and only Rocky Point Ice Cream; or end the day with a refreshing drink at Brewery Row before dining at one of Port Moody's incredible restaurants. All of this is only a short walk away. This Penthouse assignment is now available! Let me introduce you to 613-3229 St Johns Street in Port Moody. This 1,253 sq ft 2 bedroom, 2 bath penthouse level home is perfect for downsizers, families, and professionals. With an open floor plan, large windows, herringbone flooring, a designer colour scheme, and a private rooftop view deck for all of your al fresco dining experiences - this condo you will love to call HOME. This home will be completed in early 2023.   Built by Porte Homes CLYDE is developed by Porte Homes. Porte has been serious about real estate since 1968, and in those 50+ years, they have focused on developing and managing properties and helping build communities. Clyde Amenities The courtyard features a BBQ area, fire pit and space for children to play and dogs to roam Level homes have generous outdoor space Urban garden Fully equipped fitness centre Dog wash station Flexible workspace Bike repair station Car wash stall Interiors with style The interiors at Clyde impress with a timeless approach expressed with a fresh use of subtle industrial elements inspired by Port Moody’s surroundings and the award-winning Ross & Company design offer: 8’10’ ceiling height Herringbone flooring throughout the main living areas 4” baseboards throughout Horizontal Venetian blinds for shade & privacy In-suite Samsung front-loading washer & dryer Ample storage and closet space throughout Large oversized windows You will love your new kitchen at Clyde Port Moody if you love dining in. With features such as: Modern soft close cabinetry Woodgrain-detailed open shelving Quartz countertops and porcelain tile backsplash Islands feature a breakfast bar for extra seating (most homes) Stainless steel under-mount double basin sink with pull-down spray faucet in matte black Full-size stainless steel appliance package includes Samsung 18 Cu. ft. counter depth refrigerator with bottom freezer Samsung 30” gas range with 5 burners Samsung Energy Star Certified dishwasher AEG built-in hood fan GE built-in microwave (most homes) Pets and rentals are allowed The details Secured underground parking and Key FOB building access Travellers 2-5-10 new home warranty: º 2 years materials and labour warranty 5-year building envelope 10-year structural Forward-thinking rough-ins for electric vehicle charging stations in the parkade Bike storage and parking stall included with every home LEED Gold Equivalency Would you like more information on Clyde Port Moody or this incredible featured listing? Your home at Clyde gives you an easy connection to the vibrant centre of Port Moody, including the many shops and services along St. Johns Street and the city’s beautiful waterfront. Everything great is within easy reach – from outdoor activity on and along the beautiful shoreline to the ease of everyday grocery needs. Clyde connects you to convenience; get moving, explore, exercise, chill, shop, dine…Amenity-rich living at its best! Contact me at 778.895.6268 or info@annehermary.realtor for information on this assignment at 613-3229 St Johns Street, other available assignments at Clyde, or additional information about the community of Port Moody.

Should I Downsize? My Experience - Anne Hermary

Should I downsize? My experience Now that I have sold and downsized from a 3,800 sq ft, North Burnaby detached house on a 6,100 sq ft lot to a 1200 sq ft two bedroom westside Vancouver condo, my friends and clients want to find out all about my experience, the process, and whether I feel that I made the right decision.  Reasons to downsize To begin, there are a vast number of reasons to downsize: lifestyle change, the financial benefit of using the leftover home equity from the sale of a larger home to either live mortgage free in a smaller home or to purchase investment properties, shifting from being a tenant and renting your home to being a homeowner and owning a smaller space, reducing monthly maintenance costs and payments such as higher property taxes, reducing your mortgage payment and increasing cash flow, retirement or starting a new phase in life, setting aside savings from home equity for retirement income, or less upkeep and the desire to simplify your life... Downsizing has benefits and makes sense for homeowners and those living in a rental property, but it can be a significant and real challenge - especially if you have lived in your home for a long time. I can sum up my experience by saying... it’s seriously one of the most difficult things that I have done. Selling my "forever home" We lived in a home built in 2016. It was approximately 3800 sq ft. It featured four bedrooms, six bathrooms, a formal living room, a spacious open floor plan kitchen/family room, a second spice kitchen, a media room, a mudroom/laundry, and a double garage. We enjoyed our outdoor space and the wonderful family-oriented neighbourhood that we lived in. I purchased this home before its construction was complete, after having lived for four years in Coquitlam. My decision to move to North Burnaby was to have my children live closer to their respective schools, activities, and friends. When I bought this house, it was going to be our “forever home”; or certainly one that I would live in for a few decades and have my children visit for holidays. So, what happened?   Why I downsized? Why did I downsize? As a single mom, my eldest two daughters have left and relocated to the east coast for school and work. Having only one son living with me (as well as our two fur babies), reducing our footprint in Metro Vancouver made sense. The cost, expenses, and regular repairs and maintenance of a larger house, which we did not fully use, needed to make more sense. My decision to sell was a year or more in the planning stages, but my home sale was quick. With all of my children making plans to plant their roots in Ontario, I decided to purchase my next “forever home” in Toronto. For the next few years, it will be an investment property for me. I decided to invest in a market when I felt the timing was right and find a smaller home in Vancouver that works for our current lifestyle. It was a lifestyle and financial decision for me that paid off. Even if it makes sense, it may not be easy I get it. Moving for any reason and at any time in life can be a daunting task. However, determining how to downsize and deal with your possessions can be a real challenge. Whether you call it decluttering or simplifying, it’s intimidating, and it sucks! Downsizing for me was a state of mind before it became a state of being. The secret is to understand that it is a process and to give yourself time to transition.  Your home is not only an asset. Whether you are a homeowner or a tenant, many memories are tied to your home and possessions. The first step in downsizing is easy – purging It feels good to rid yourself of old items you don’t need, books, clothes that are no longer worn, old sports equipment, and furniture that no longer fits your needs ( would you believe I kept the grand piano?)...Many local charities are happy to accept your donations.  It gets more difficult after that. My daughters both danced until they entered university. I am THAT mom that held onto all their costumes. Then, there are the bins of artwork and handmade presents for mommy dating back to preschool days and sentimental treasures that my mom left behind. I can’t forget the American Girl Doll collections that my daughters cherished.  How do I purge these treasures?  It gets emotional Family heirlooms are perhaps the most difficult items to leave behind. To me, these are the most valuable items that I own. What is important varies for all of us. But, when you’re downsizing, you will find that you have items of huge value to you that you can’t part with. I didn't want to decide at this time what to keep and what to part with. My secret place where I have stored these personal treasures that have no value to anyone but me is a $350/month storage locker with a personal deadline to clear out.  You don't need to do it yourself There is intentional downsizing and unintentional downsizing, the latter being much less fun. My downsizing was intentional. However, whatever your reason may be, a professional downsizer can help make the process easier by helping you organize the transition. If you are selling your home to downsize, contact an experienced and professional Realtor who is familiar with the neighbourhood that your current home is in. Consider whether you will want to purchase your next home or rent. Refer to an experienced investment planner to help with creating a financial plan. Not having to manage the entire process yourself is a huge help. There are also several good books and articles available that you can refer to. In other words, please do your research and understand that you don’t need to do everything yourself. Consider your options This decision was a few years in the making for me. If you're considering a shift in your housing, carefully weigh the benefits and the implications. Lifestyle, income, community, and housing goals are all factors to consider. For the time being, I am happy to say that I no longer need to clean six bathrooms, and I can focus on enjoying my time more. Have you recently sold your home? Are you considering selling your home? Are you renting and thinking about downsizing to make a move to home ownership? Are you considering renting in retirement? Have increasing mortgage rates made you think about reducing your footprint? Have you considered selling your home and renting? I would love to hear your thoughts. If you’ve downsized, I’m curious about your experience. 

Should I buy a home in 2022?

A report published by the national mortgage industry association (March 2022), Mortgage Professionals Canada, showed that 29 percent of Canadians think this is a good time to purchase a home. That's the lowest number recorded in this country's history. Mortgage Professionals Canada Housing Market Report However, this number is not surprising when you consider that homebuyers have faced a very fast-paced and competitive market over the past few years. Many have felt overwhelmed by spiralling home prices and a lack of supply. Rising interest rates have led to the end of Canada's pandemic housing boom. Since the Bank of Canada began its rate hikes, home sales (resale properties) in Canada have dropped by over 30 percent and the benchmark price by approximately 6 percent. We have seen the most significant drops in British Columbia and Ontario. Robert Hogue, an assistant chief economist at RBC, said that the bottom of Canada's housing correction is "still a ways away." RBC Report as we see Canadian home sales fall for the fifth month. Uncertainty in the market seems to be a continuing theme among economists and industry professionals. So, what does it mean to you? Are you sitting on the fence about whether to buy a home now? The answer to that question depends upon your situation. I believe it is a good idea for most Canadians to own real estate if it makes sense financially. Rate increases will impact first-time buyers the most. While rising interest rates may cause housing prices to decrease or level off, higher rates will also reduce your buying power and increase the cost of borrowing. Things to consider: Do you have a down payment saved up? Will the price of the home that you want to purchase increase? As rates increase, will you qualify for less in the future and will costs go up if you wait? Is home ownership more beneficial than renting? With increasing inflation, rental costs are going up. The median rent for a one-bedroom unit in Vancouver has risen to $2,240, and year-over-year rent has increased by 14.9 percent. For a two=bedroom unit in Vancouver, median rent has increased 20.9 percent yearly. Rental prices have increased. Homeownership allows you to build equity. Are you planning to stay in the home or hold onto it as an investment for a while? Is inventory in your area on the rise?   Real estate continues to be a good investment in Canada when done right. Although the real estate market has cooled with increasing rates, remember that the benchmark price for all property types in Greater Vancouver is still 10 percent higher than in July 2021. Although rising rates have reduced the frenzied buyer demand we experienced over the past two years, it will not ease the housing supply issues in Canada. What we are seeing now may be just an "easing of symptoms" (according to CIBC) of the hot real estate market for a short period. Higher rates may not cure the housing market. TD has forecasted a price drop of 19 percent, peak to trough, throughout 2022Q1-2023Q1. "However, home prices are expected to grow modestly after that, alongside some recovery in demand." TD Housing Outlook While no one has a crystal ball, many economists and industry experts agree that Canada will experience housing market price drops of approximately 19 to 23 percent. They also seem to agree that the regions that have experienced the most significant price swings will face the most extensive corrections. We have already experienced part of that correction. However, this easing will not solve Canada's ongoing supply issues. In Budget 2022, the federal government acknowledged that Canada faced a housing shortage and explained that it would need to double housing units per year over the next decade to meet the demands of Canada's growing population. According to economists at Desjardins, the pace of decline in housing sales has cooled since accelerating in the spring. Despite the double-digit price corrections that much of Canada has experienced, prices remain higher than pre-pandemic levels. Financial Post housing report The CMHC sees the average home price bottoming out in the second quarter of 2023 and then rebounding in the second half of 2023 and into 2024. The CMHC also predicts that the average home price will surpass this year's peak by 2025. If you're unsure what the best option is, scrutinize your local market. We are all influenced by national media headlines. Still, local markets vary, so seek the advice of an expert real estate agent and mortgage professional to help guide you to your best personal decision.