Valore on the Park

Be HOME for Christmas!!!

• When you buy your new home by December 21, 2012 – Receive a HOLIDAY CASH Incentive, FREE Internet & TV for 1 YEAR and all Closing Costs paid… No Worries, No Hassle.

• All Homes include Outdoor Living Space (Balcony/ Patio), Underground Parking and a generous Storage Locker.

• Strata Fees start at $106.00/month, includes an Exercise Room/Yoga Studio, Large Indoor/ Outdoor amenity areas & more.

• Take advantage of the $10,000 First Time Home Buyers Bonus before it EXPIRES in 2013!

Contact our Sales Team today at 604 464 4764

The Building

The overall scale of the building is intimate, with floor plans that maximize space, ranging from 505 to 875 square feet; standard nine-foot ceilings create an even greater sense of openness. Plus, most of these one- and two-bedroom suites include a walk-in closet, work station and well-sized patio or balcony — extras you’ll really appreciate to add value in everyday living.

Classic Style, Future Function

Like many of the surrounding residences, VALORÉ is well-designed in European Craftsman style — warm, rich architecture that utilizes sturdy, natural materials. Brick anchors the base of the building, earth-tone siding clads it, and the details such as columns and wooden bracing add character and support.

The look is traditional-style; the function is forward-thinking. VALORÉ on the park is designed to optimize natural light and maximize energy efficiency, making for effective, green design. Window size and placement utilizes passive solar energy to keep you warm in winter and provides natural [free!] lighting; strategic overhangs keep you cool all summer long.

I’m sure you’ve already heard the news, there are new mortgage rules coming to town.  As of July 9, the 30 year amortization will be replaced by the 25 years.  While the country’s new mortgage rules are meant to cool the market, eventually making housing more affordable, they’ve put home ownership out of reach for many prospective buyers. However if you are thinking of purchasing, this is the time to do so.  If you get a firm pre approval by July 9, you can be grandfathered in at the 30 year.  If you’re thinking of purchasing a home at VALORÉ on the Park, our very own Paul McGrath, mortgage specialist with RBC is offering some great deals!  Not only can he grandfather you in at the 30 year amortization, he’s offering terrific rate holds till our completion in November/December. For more information, call Paul directly at 604 373 4264

Happy Buying from your friends at VALORÉ on the Park!

PRESS RELEASE from the department of Finance:

As part of the Government’s continuous efforts to strengthen Canada’s housing finance system, the Honourable Jim Flaherty, Minister of Finance, today announced further adjustments to the rules for government-backed insured mortgages.

“Our Government stands behind the efforts of hard-working Canadian families to save by investing in their homes and their future,” said Minister Flaherty. “The adjustments we are making today will help them realize their goals, build on the previous measures we have introduced to keep the housing market strong, and help to ensure households do not become overextended. As just one example, the reductions to the maximum amortization period since 2008 would save a typical Canadian family with a $350,000 mortgage about $150,000 in borrowing costs over the life of that mortgage.”

The Government is announcing four measures for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent:

• Reduce the maximum amortization period to 25 years from 30 years. This will reduce the total interest payments Canadian families make on their mortgages, helping them build up equity in their homes more quickly and pay off their mortgages sooner. The maximum amortization period was set at 35 years in 2008 and further reduced to 30 years in 2011.
• Lower the maximum amount Canadians can borrow when refinancing to 80 per cent from 85 per cent of the value of their homes. This will promote saving through home ownership and encourage homeowners to prudently manage borrowings against their homes.
• Fix the maximum gross debt service ratio at 39 per cent and the maximum total debt service ratio at 44 per cent. This will better protect Canadian households that may be vulnerable to economic shocks or an increase in interest rates.
• Limit the availability of government-backed insured mortgages to homes with a purchase price of less than $1 million.

“Investing in a home is a great way to save,” said Minister Flaherty. “That is the dream that mortgage insurance was intended to support. The measures we are taking today maintain that intended purpose.”

Minister Flaherty said the new rules will take effect on July 9, 2012.

Live on Top!

We haven’t released our 4th floor yet – but you can buy today…
Reserve your own spot in the sky at VALORÉ on the Park!

Call to find out which penthouses have the best views!

Ashley Smith & Maureen Seguin
Klein Group | Royal LePage City Centre

604 464 4764
REGISTER for more info

We’ve seen a lot of progress on site at
VALORÉ on the Park over the past month…

Coming soon.. a new roof on Atkins Ave!

Click the play button on the image to the left to
view how things are coming along.

Want a personal tour? No problem!
Call: 604 464 4764

VALORÉ on the Park is located at:
2473 Atkins Ave, PoCo (map)
During construction, find our Presentation Centre at:
2359 Kelly Ave, PoCo (map)

First-time Buyers may be eligible for up to $10,000 in tax credits when purchasing newly built homes. On February 21st the BC Government announced a temporary New Home Buyers Bonus on eligible purchases. For complete details please click on the attached link to the BC Government posting.

http://www.bcbudget.gov.bc.ca/2012/homebuyers/2012_First_Time_Home_Buyers_Fact_Sheet.pdf

Note: Please make sure to confirm that you qualify as a “first-time home buyer” before making any assumptions!

Quick Facts:

• This is a $10,000 income tax credit – not cash
• The tax credit is equal to 5% of the home price, subject to a maximum of $10,000
• The tax credit is pro-rated based on your income and phases out for higher income families
• The tax credit is applied at the time you file your annual tax return.  It is not to be construed as funds that are available at closing date on a purchase.
• The $10,000 tax credit is effectively applied as an off set against your income. In the tax return preparation, that means that you do not get $10,000, but rather get a credit equal to the tax rate on $10,000 of income in your personal tax bracket.  For example, if you are in a 30% tax bracket, you get the equivalent of a $3,000 tax payment to you.
• This credit only applies to brand new homes                                              ·
• This credit only applies to first time home buyers

Welcome to VALORÉ on the Park. Last opportunity to purchase in a tucked away, quiet developed CUL-DE-SAC. Walking distance to everything – Gates Park, Coquitlam River, Trabulay Trail, all schooling, shopping & WestCoast Express. These European Developers’ claim to fame? Attention to quality, detail & innovative design.

#101 – 2743 Atkins Ave, Port Coquitlam

List Price: $301,800

UPDATE: Suite #101 is now our Display Home – Come see it for yourself!

Buying your first home | Who you need on your team

Buying your first home is an exciting time in your life and a smart investment for your future. Since this is one of the biggest investments you will make in your lifetime, my goal is to help you be well prepared before you set foot into any home. If you don’t want to find yourself stuck in the middle of a homebuyer’s worst nightmare, there are three key people you should be working with: a real estate agent, a mortgage broker and a home inspector. This trio will put you on the track to a successful purchase.

REAL ESTATE AGENT

Your real estate agent is the person who will guide you through the maze that a home purchase can be. Find one you can trust. Ask your friends and family if they can refer you to someone they had a good experience with in the past. Interview at least three real estate agents and decide who is best suited to you.

Don’t be shy, go ahead and ask lots of questions! How long they have been selling real estate? Are they familiar with the area you are looking to buy in? Are they full time or part time agents? This is important depending on how motivated you are to buy. If you are looking to buy in a short period of time, work with a full time agent who can dedicate the necessary time to get you into your new home quickly.

MORTGAGE BROKER

Financing is extremely important in the purchase of your new home and doing it right can save you thousands of dollars. Most people will need to get a mortgage and there are two main ways of obtaining one: through a bank or through an independent mortgage company. In both instances, you’ll work with a mortgage broker who will give you advice on which mortgage meets your needs. The broker will work with you to get you pre- approved for a mortgage adn help you to figure out how much you can afford.

If you decide to get your mortgage through the bank, be sure to shop around for the best deal. It is a competitive market out there so get rate quaores from as many financial institutions as your can. Independent mortgage brokers will do this research for you and present you with a range of mortgage rates and options.

HOME INSPECTOR

Although, you won’t need a home inspector until you find that dream home, you’ll want to make sure you have one close at hand. You never know how fast you will need to move to get the house you have fallen in love with. Since home inspections have become the norm in any home purchase, finding a good inspector has actually become difficult. There are unqualified home inspectors out there preying on buyers who don’t know the difference. Buyer beware! Check that the inspector belongs to the Canadian Association of Home Inspectors. You’ll want a registered home inspector who has the right credentials.

Being a first time home buyer is an important life event and it means you will have many decisions to make. Once you’ve got all the important things sorted out, have fun with it! After all, becoming a homeowner mens freedom from rent and the beginning of a new chapeter in your life.

Happy home hunting and good luck!

Recent polls have proven that more and more Canadians are choosing condominiums for their home. In some cities 35% of those polled said they were likely to purchase a condo, which is similar to our own client statistics.

What demographic is looking at condos as their new home? Just about all walks of life are inclined to do so.

First-time home buyers are attracted to condos as a more affordable option that allows them to start building equity and use that capital to move up into a single family home when the time comes. They often don’t have the expendable cash to spend on repairs and maintenance that comes with a freehold, like a new furnace in the middle of a cold February night.

Then there are the young professionals, men and women alike that need a maintenance-free property that won’t make their lives a drudgery of working at their careers and then working on their homes, leaving little or no time to pursue their favourite past times. Condos allow them time to relax or partake in sports and socials that would normally be time spent mowing lawns, weeding, shoveling snow, repairing fences……and the list goes on! This demographic tends to need less room and is willing to live in the now.

We all know that Baby Boomers are a huge demographic in Canada and a lot of them are opting out of their big labour intensive homes and into condo life. Many own multiple properties, including vacation homes that they like to visit often and for long periods of time. The luxury of leaving behind a home that will be protected and maintained without any effort on their part is very attractive, especially to “snowbirds”— Canadian retirees who winter in the southern United States. Aging men, women and couples have also opted for homes that require less work and fewer stairs than a traditional one out of necessity.

Although the resale condo market is going strong, it seems there is also no end to the new building developments cropping up all over Metro Vancouver. One of the main benefits of buying a condo in the development stage is CHOICE. Most savvy developers offer potential owners the opportunity to have a hand in the design, layout and decoration of their unit. This means sumptuous upgrades are always on offer. Sure, standard fixtures are cheaper and function just fine—but sometimes a custom upgrade is worth the splurge, especially when it comes to resale value, which is something every condo purchaser should have on the brain. Plus, it’s always cheaper to choose an upgrade and benefit from the wholesale prices developers are generally privy to, rather then choose to remodel your condo or townhouse at full price later.

Here are some fantastic upgrade options guaranteed to pay off in the end:

• Granite countertops

• Custom cabinetry

• Recessed lights

• Kitchen islands

• Hardwood floors

• Jacuzzi or soaker tubs

• Luxury showerheads

• Gas fireplaces

• Built-in speakers or preinstalled wiring

• High-quality carpeting