Sutton Showplace Realty (2015) Chilliwack

  604-858-1800 

Four in five British Columbians support new real estate taxes

27 March 2018
Sutton Showplace Realty Chilliwack

More than 80 per cent of British Columbians agree that the new speculation tax and the expanded foreign buyer tax are “good” or “very good” moves by the NDP, according to a new poll.

The survey, carried out by Insights West in partnership with CTV Vancouver, found that 82 per cent of respondents backed the expansion and increase of the foreign buyer tax, which is being raised from 15 per cent to 20 per cent and expanded to areas outside Metro Vancouver, including Victoria, Nanaimo, the Fraser Valley and the Okanagan.

The poll also found that 81% of respondents supported the new annual “speculation tax” of 2 per cent of a property’s assessed value, payable by owners of B.C. real estate who do not pay local income taxes and do not rent out their properties.

Support for the annual speculation tax is highest among those who voted NDP in the last provincial election, with 90 per cent describing the policy as good or very good. But support is also high among B.C. Liberal and Green voters, at 75 per cent and 79 per cent respectively.

Support for the speculation tax was also slightly higher among renters, at 85 per cent, but also very strong among home owners.

More than three-quarters of respondents (77 per cent) said they think increasing the property transfer tax from 3 per cent to 5 per cent on homes sold for over $3 million is a “very good” or “good idea”— including 76 per cent of homeowner respondents and 72 per cent of BC Liberal voters in the last provincial election.

In the online survey of what Insights West describes as a “representative provincial sample,” 13 per cent of the 801 respondents said they followed the 2018 provincial budget “very closely” with 40 per cent saying they followed it “somewhat closely.” The remaining 47 per cent of respondents admitted they either followed it “not too closely” (27 per cent) or “not closely at all” (20 per cent).

~ Article from Vancouver Courier

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Easter Colouring Contest

16 March 2018
Sutton Showplace Realty Chilliwack

Enjoy colouring? Sutton Showplace Realty is happy to announce a fun Easter Colouring Contest for people of all ages!

2 PRIZES TO BE WON!
1) Children under the age of 13. Prize: Easter Basket .
2) Ages 14 and up! $25 Cineplex gift card & chocolate Easter bunny!

Don’t be shy, drop by our Chilliwack office to pick up your colouring sheet or print them yourself with this link: https:// suttonshowplace.ca/CONTEST

Drop your entry off IN PERON to Sutton Showplace Realty (before March 28, 11:00 am) to 100-7134 Vedder Rd, Chilliwack, BC. 604-858-1800

Winners will be announced on the “Sutton Showplace Realty” Facebook page, March 28th at 1:00 pm. The two (2) winners will be called and their prizes will be held until they pick up in person.

Contest opens Tuesday, March 12, 2018.
Contest closes Wednesday March 28, 2018 at 11:00 am.


RULES:
1. One (1) entry per person.
2. By entering this contest, contestants and their legal guardians consent to Sutton Showplace Realty 2015 publishing and/or announcing the Prize Winner’s name (first name only), and photograph posted publicly, including print advertising and social media.
3. All entries become the property of Sutton Showplace Realty 2015 and will not be returned, unless requested prior to March 28th.
4. This contest is in no way sponsored, endorsed or administered by, or associated with, Facebook.
5. This contest is not associated with any other Sutton Realty offices. Each office is independently owned and operated.


Home Warranty Insurance on New Homes

09 March 2018
Sutton Showplace Realty Chilliwack

According to the Homeowner Protection Act and regulations, new homes built in  B.C. by licensed residential builders must be covered by mandatory,  third-party home warranty insurance.
It’s one of the strongest construction defect insurance coverages in Canada.

It’s  important to have your home inspected within the first 11 months of  living in the home, in order to present the inspection findings to the  builder within the first year of the warranty.

Minimum coverage
At a minimum, home warranty insurance coverage includes:
    •    2 years on labour and materials (some limits apply)
    •    5 years on the building envelope, including water penetration
    •    10 years on the structure of the home
The two-year labour and materials coverage covers any defect in labour and materials for:
    •    12 months on detached homes and on non-common property in strata units (including fee simple homes)
    •    15 months on the common property of strata buildings
     •    24 months on all new buildings for defects when related to  delivery and distribution systems; defects related to the exterior  cladding, caulking, windows or doors that may lead to detachment or  material damage to the new home; coverage for violations of the Building  Code that constitute a health or safety risk or is likely to result in  damage to the new home; and defects which render the home unfit to live  in.
Minimum coverage for third-party home warranty insurance is  set by legislation. As a minimum, homes built by Licensed Residential  Builders must have 2-5-10 Year Home Warranty Insurance . Some new homes  have warranty insurance coverage that exceeds the minimum requirement.  You should carefully review your home warranty insurance policy  documents which will provide specific details on the home warranty  insurance coverage on your home.

The warranty is attached  to the home, not to the owner of the home, and remains in effect upon  the re-sale of the home until the coverage expires.

Strata-titled  homes have two policies of home warranty insurance: one on the home and  the other on the common property. Sometimes when the coverage of a new  strata-titled home starts, the coverage on the related common property  has already started — or expired. Coverage on the common property of  strata-titled buildings starts when the first unit in the building is  occupied or sold.

To read more or to find a list of exemptions, click here: https://goo.gl/NUySiQ

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