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First Time Home Buyers

If you’re a first-time home buyer in this province (BC), there are few things that you should be aware of as you may be able to take advantage at this time. Nowadays there are two areas to first time home buyers: RRSP limitations and property purchase advantages. The first revolves around tax-free allowable withdrawals of up to $25K per person towards the purchase of a new home. This one isn’t so new anymore, as it’s been around for years.

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Would you be surprised to learn that the stock market has out performed real estate in Vancouver over the last decade? According to the MLS Home Price Index , which began collecting data 11 years ago, real estate prices throughout the greater Vancouver area have grown on average from 100bps in January 2005 to 187.75bps in January 2016. This growth represents a 5.89% annualized rate of return and a total return of 87.75%.

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For many Canadians the perfect retirement includes owning a vacation property. For some the decision to buy turns out to be a dream come true but for others it can be an expensive nightmare. Here are some things to consider before making the emotional decision to buy a vacation property.

Why do you want it?

Possibly owning a vacation property will allow you to spend more time at a destination you love, it will become a place where you can take your family and friends or you feel it will be a great investment. Whatever the reason, it is important to understand what your motivation is and then evaluate if that’s realistic and reasonable given your current situation. Read more

Financial Difference Makers…

How can I build wealth? How can I save enough for retirement?

As a financial planner I hear these types of questions on a regular basis. People in general want to know, what is the secret to success?

I find that I like to look at clients that we have that are already in retirement to see the traits that have led to their financial success. We can learn a lot from our history, and I find it interesting to hear about people’s lives. Read more

That Is The Question
Should we downsize our house? If so, when? Maybe never? I think that downsizing too early or without planning can be one of the most costly retirement mistakes. I have seen couples that have downsized, found that they have not liked it, and then purchased a house similar to what they originally owned. The cost to do so was thousands of dollars. Read more