Bob Sethi, B.Comm | 604.273.2828

 

Rent or Buy? Here's a Calculator to Help You Decide.

Thu, August 21, 2014


Rent or Buy?


Wondering if you should buy a home or keep renting? You’re not alone.

Millions of people are faced with this decision every day, and your move is dependent on a variety of factors: your income, ability to manage maintenance costs/upkeep, how much you’ve saved for a down payment, job stability, the housing market, rental vacancies, monthly payments, interest rates, proximity to work and school – the list goes on.

If you’re stuck trying to choose which option is best for you and your family, the New York Times has a cool tool worth checking out: a rent vs. buy calculator. Input items such as home price, income, the number of years you plan to stay in a place, taxes, fees, etc.. Once you’re done, the calculator computes the equivalent monthly rent. Give it a try!


For a complete picture of what the rent vs. buy prospects are like in your area, give me a call or email

 

Source: The RE/MAX Housing Blog

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Please visit our Open House at 10 9691 ALBERTA RD in Richmond.
Open House on Sunday, August 24, 2014 12:00 pm - 5:00 pm
JADE, 24 unique townhomes in Richmond's highly desirable McLennan North district, features the larges new townhomes available in Richmond. Just minutes away from schools, shopping, Skytrain, and everything else you could possibly need. Standard finishes include radiant floor heating; sleek quartz countertops; Samsung/Maytag SS Kitchen appliances with gas range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load washer and dryer; natural gas BQ outlet; B.I. security system; B.I. fire-resistant safe. Phase 1 ready for occupancy. jade discovery centre open everyday from 12pm-5pm (Except Friday). Come view our brand new furnished 3-bedrooms + den and 1 bedroom Garden Suite displays!
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I have listed a new property at 10 9691 ALBERTA RD in Richmond.
JADE, 24 unique townhomes in Richmond's highly desirable McLennan North district, features the larges new townhomes available in Richmond. Just minutes away from schools, shopping, Skytrain, and everything else you could possibly need. Standard finishes include radiant floor heating; sleek quartz countertops; Samsung/Maytag SS Kitchen appliances with gas range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load washer and dryer; natural gas BQ outlet; B.I. security system; B.I. fire-resistant safe. Phase 1 ready for occupancy. jade discovery centre open everyday from 12pm-5pm (Except Friday). Come view our brand new furnished 3-bedrooms + den and 1 bedroom Garden Suite displays!
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Please visit our Open House at 10 9691 ALBERTA RD in Richmond.
Open House on Saturday, August 23, 2014 12:00 pm - 5:00 pm
JADE, 24 unique townhomes in Richmond's highly desirable McLennan North district, features the larges new townhomes available in Richmond. Just minutes away from schools, shopping, Skytrain, and everything else you could possibly need. Standard finishes include radiant floor heating; sleek quartz countertops; Samsung/Maytag SS Kitchen appliances with gas range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load washer and dryer; natural gas BQ outlet; B.I. security system; B.I. fire-resistant safe. Phase 1 ready for occupancy. jade discovery centre open everyday from 12pm-5pm (Except Friday). Come view our brand new furnished 3-bedrooms + den and 1 bedroom Garden Suite displays!
Read Full Story
I have listed a new property at 15 9691 ALBERTA RD in Richmond.
JADE, 24 unique town homes in Richmond 's highly desi rable McLennan North district, features the largest new townhomesavailable in Richmond. Just minutes away from schools, shopping, Sky train, and everything else you could possibly need.Standard fini shes include radiant floor heating; sleek quartz countertops; SamsunglMaytag SS Kitchen appliances with gasrange & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load washer and dryer; natural gasBBQ outlet; B.1. security system; B.1. fire-resistant safe. Phase I ready for occupancy. Jade discovery centre open everydayfrom 12pm-5pm (Except Friday). Come view our brand new fu rnished 3-bedrooms + den and 1 bedroom Garden Suites displays!
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Thinking of buying a home soon? Read this! 



New homes in Richmond, BC


5 Financial Missteps to Avoid When Buying a Home


You might have pulled off a great feat, like saving up for that down payment, but there are several financial missteps that can complicate your prospects of buying a home. Avoid these five blunders by managing your spending and bills long before you look for a new home.

1. Letting Your Credit Score Drop


Your credit score directly impacts your ability to get a home loan, the type of loan you qualify for and the interest rate. If you have borderline credit – a score in the low- to mid-600s – further credit mishaps can prevent approval. If you have credit challenges such as bankruptcy or late payments, start your house search several months earlier. Re-establish your credit by paying down credit cards to 30 percent or less of the limit and correcting errors on your report. And avoid checking your credit score too much; constantly checking it counts against you.

2. Languishing in Debt


Consumer debt accounts for 35 percent of your credit score. A late payment's effect depends on the strength of your score, but the account type and the time since the last late payment also matters. If any of your accounts are in collection, it's highly advised you pay them off before seeking loan approval.

3. Shopping Sprees


Stay far away from credit-driven shopping sprees. Even paying cash for big-ticket purchases can raise red flags with a lender. They'll check your bank statements for unusually large deposits and withdrawals and may require an explanation for them.

4. Changing Jobs


A job change may have an adverse effect on your loan approval because lenders calculate your ability to pay a home loan by averaging your past two years of income. If you can avoid interrupting stable employment during the home-buying process, that's probably best.

5. Maxing Out Your Purchasing Power


Even though your lender qualifies you for a certain amount, only you know whether you can comfortably afford the payment. Try to stick with the price range that yields your ideal monthly payment. Looking for homes at the top of your budget limits your ability to increase your offer in a multiple-offer situation.

When you've nurtured your credit and are ready to start looking for a home, contact a lender – and, of course, a RE/MAX agent who can help you find the right home at the right price for you.​


*Source: RE/MAX Mainstreet - The Real Estate Blog, Tue, July 29, 2014.

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I have listed a new property at 126 10788 WHALLEY BLVD in Surrey.
QUATTRO 3 by Tien Sher. New, move in ready home in Surrey's new amenity-rich downtown. "City Centre". Minutes from sky train and walking distance to it all. Includes all the finest finishes, granite counter a top custom cabinets, 5 pieceWhirlpool kitchen appliances package, 2 piece Samsung front loading clothes washer/dryer, oversized windows, plus more. PARKING and storage included. Call today or visit presentation Centre to see finished homes.
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I have listed a new property at 9820 ALEXANDRA RD in Richmond.
HOMEBUYERS & INVESTORS! 2,800 sq.ft. home on 105' x 169' Richmond lot in growing community of new single-family homes, townhomes and condos. Craftsman home offers hardwood floors, cased windows w/ internal blinds, cedar feature walls andceilings, full appliance package, solarium plus so much more. Detached 2-car garage w/ workshop. Live-in, hold or apply for multi-family zoning. Call today!
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Bob Sethi, B.Comm
Office:604.273.2828
Fax:604.273.0685
RE/MAX Westcoast
#110-6086 Russ Baker Way
Richmond, BC
V7B 1B4 Canada

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