Buying a home is often one of the biggest and most expensive decisions we will ever make. Everyone has their own particular wants and needs for their new home and we want to help you make your decisions as easy as possible. The list below covers a few things we should all consider when purchasing a new home. 

Size - Is the home big enough for your family to grow into? Will you need to add on additional space? And if so, is the yard space big enough for a home addition? If you're looking forward to retirement or the children moving out soon, then you want to think about the opposite, will the home be too big for you to manage on your own? Do you need all the extra space? Always consider the future and how your life may change in the coming years when buying a home. 

Decor - While it may be hard to see passed the floral drapes and colourful wallpaper, keep in mind that these are simple and quite affordable fixes. Try to envision your family and belongings in the space rather than the current decor. Do not get distracted by the seller's personal style and instead imagine each room styled to your taste. 

Location & neighbourhood - Is the area safe? Is it walkable? Are there schools, shopping, amenities, etc. nearby? If there's a large highway or airport nearby there will be a lot of noise. Be sure to drive around the neighbourhood and ensure that this location works for you and your family's lifestyle.

Yard - Are you outdoorsy? If you want to have a garden, bbq area, or even a swimming pool, you want to ensure that the yard has the space for this. On the other hand, if you're not outdoorsy, maybe a small, easily manageable yard is better for you. 

Community Plan - Review the community plan with your local government for this area. What are the plans for this area? You want to make sure the Community Plan is in line with your plan for your new home and lifestyle.  

Mortgage deferral — is this the right option for you? It’s a big decision to make, however, in times of crisis, economic downturn, loss of income, and many other factors, it just might be worth looking into.

We recently spoke with one of our clients who had just deferred his mortgage, this is his story:

I just deferred my mortgage for six months. This felt a bit weird, like a failure, psychologically. It seemed 'bad', akin to bankruptcy or paying one's taxes late. In my mind, it just had that financial 'loser' stigma. However, when thinking more practically, it's actually a huge win, for me.

With the travel restrictions lasting continuing through the summer, I had just lost an overseas contract that paid me $22,500 per year. I realized that living without this income would be very challenging, I had depended on this income and now it was gone. I also realized that skipping thirteen massive bi-weekly mortgage payments comes to within $400 of replacing this figure, phew, good save!

I later realized these figures aren't actually equal, not even close. Of course $22,100 is very similar to $22,500. I'm not quibbling over $400. What dawned on me is that the $22,100 is savings, and is therefore untaxed.

However, I shouldn't be comparing the topline revenue I lost, but the bottom line. Net revenue from the lost self-employed income would have been about $10,000, max, after taxes. Keeping things in that ratio I can see that in order to net $22,100 cash I would actually have to earn approximately $45,000-50,000.

Then the guilt kicks in again. Am I stealing from someone? Am I taking advantage of millions in government benefits that could otherwise go to support small businesses? No, I'm making my own mortgage more expensive, in fact. The bank still makes all their money and the online deferral application explains this all very clearly. Personally, I am going to be paying $33,000 more over the next 28 years. On the one hand, you might try to hold $22,000 (benefit) up against $33,000 (cost), and decide just to get back to hustling, to work harder, or try to find more work. That could very well be the right answer for so many people, but it wasn’t for me. 

Life happens, family members get sick, people need our help, our time, and often access to our finances. At this time, it doesn't matter to me if I am mortgage-free in March of 2048 or 6 months after that. Maybe I'll feel differently at that time, but right now the benefit outweighs the cost. Retirement planning is a much bigger picture than calculating 6 months of mortgage payments. It is also very likely that I will downsize as an empty nester in the next five or ten years, reducing my mortgage obligation correspondingly. 

Whether you look at it like trading $22,000 for $33,000 in over 10,000 days from now, or whether it seems more like hitting pause on your financial life, it helps me get through 2020 with a peace of mind that I otherwise wouldn’t have. If at some point later in the year I find myself with an adequate emergency buffer in my chequing account, I plan to reinvest this into my house. I'll insulate my basement and my attic, and be more ready to weather the storms that might come after this one finally passes while increasing the value of my home.

While we can’t advise you what the right decision is for you and your family, but we are happy to provide you the information and guide you along the way. Maybe deferring your mortgage isn’t the best option for you right now, however, maybe it is and maybe it’s something you need to look into. Either way, we are happy to discuss this with you and provide some insight into this topic.

As always, we at JP Real Estate would like to remind you that we are more than a real estate company, we are a community and we are in this together. We look forward to speaking with you and connecting greatness!

Selling your home is a difficult process in the best of times, add on a global pandemic, an increasing unemployment rate, social distancing rules, an unstable economy, and it may seem nearly impossible. Thankfully it is not impossible and JP Real Estate can help you during these trying times to market and sell your home at the best price possible.

With the latest technology, social media, virtual tours, and countless marketing options, selling your home during this time can still be done and may not be as difficult as you think. Below are a few tips we’ve put together to help you through this process and put your mind at ease.

1. Hire a Real Estate Professional

We know, we know, you’ve heard this a million times, but it’s truly the best thing you can do. Hiring a professional who can offer experience, stage your home, market your home on countless sites that you wouldn’t have access to as a private seller, and handle all the legal paperwork that goes along with the sale will save you hours of grief and aggravation.

2. Virtual Tours & Drone Video’s

As many buyers and sellers are not comfortable touring homes in the midst of a pandemic, virtual tours have become the new norm for home buyers.  JP Real Estate is fully equipped to provide you with the most professional, detailed virtual tours of your home, as well as drone videos of the house, yard, and surrounding area. These two options are priceless as buyers can see your entire home and neighbourhood without leaving the comforts of theirs, ensuring everyone’s safety.

3. Do It Yourself

If there are some projects that you can do yourself such as painting, touchups, updating hardware or electrical covers, now is the time to do it! We don’t suggest taking on large projects that would be better left to a professional, however, this extra time we have at home is the perfect opportunity to take on those small jobs that you can do yourself. You may be surprised by how much you can increase the value of your home by taking care of a few small jobs in your spare time and buyers are often much more attracted to a home that requires the least amount of work possible.

4. First Impressions

Mow the lawn, vacuum and mop the floors, wash the windows and mirrors...these little things will make a great first impression for anyone who is attempting to envision your home as their new home. With the great weather we’ve been having, it’s also the perfect time to do a few things outside to improve the curb appeal and get the backyard ready for BBQ season.

5. Social Media

It’s not just for cat video’s and funny meme’s! Once your Real Estate Professional has posted your listing online, be sure to share it on your social media, ask your friends and family to do the same. Social Media has become a daily part of our lives and sharing your home listing will definitely be beneficial to the sale of your home. You never know who may be perusing Facebook or Instagram and realize that their dream home just came available!

JP Real Estate has access to countless contractors, mortgage brokers, lenders, lawyers, notaries, investors, and so many more, to ensure everything from staging to marketing to moving day will be a smooth transition. We want to help you sell your home quickly, seamlessly, and, most importantly, at a price you are happy with.

As always, we at JP Real Estate would like to remind you that we are more than a real estate company, we are a community and we are in this together. We look forward to speaking with you and connecting greatness!

As we move towards Phase II of reopening the country, we want to remind you to stay safe, healthy, calm, and kind.

There are many businesses opening their doors with new protocols in place and while we understand this may be frustrating and confusing, for both business owners and customers, we must trust in the process and learn to adapt to these new rules. These new protocols have been put in place for the safety of ourselves and our loved ones.

Life as we knew it may not return to our "normal" even as we approach this second phase of the country reopening. Our new norm will include wearing face masks, consistent hand washing, and continued social distancing.  Until a vaccine or cure for Covid-19 is found, tested, and proven, we will live in this new norm, which is not normal at all.

Consistent handwashing is, without a doubt, the best way to stop the spread of this virus. You will find hand sanitizer at the entrances to malls, banks, grocery stores and so many more going forward. Wearing a mask is also a great way to protect ourselves and others. They may not feel stylish or even comfortable at first, but with a little time, you may find yourself more comfortable wearing a mask than not.

We’d like to remind you that even though many businesses are reopening, it’s not a reason to be rushing out shopping or meeting in large groups. We are still at great risk for a second wave of this virus to affect us and we need to now be as diligent as ever.

In British Columbia, particularly on Vancouver Island, our numbers have remained quite low. Our province acted quickly, our citizens followed procedures, and luckily, we were able to keep the virus at bay for the most part. If we can continue following these new protocols, we can keep the number of infected persons down and hopefully get ourselves ‘back to normal’ sooner, rather than later.

If you have any questions or would simply like to discuss Phase II and how it will affect businesses, the real estate market, the local economy, investments, or anything else, please let me know as I would be more than happy to speak with you.

As always, we at JP Real Estate would like to remind you that we are more than a real estate company, we are a community and we will get through this together. We look forward to speaking with you and connecting greatness!

To say that our lives have changed over the past 2 months would be a great understatement, how we are handling these changes is another thing. We want to encourage you to look at this as a gift, a gift of time, to unwind, to reflect, refresh, and recalibrate. 

It can be extremely hard to remain positive during these uncertain times but if you look for the positivity, it can be easily found! It can be found in the small things, sitting down to dinner with your family every night, finally finishing that book that’s been collecting dust on your bedside table, planting that garden you’ve always wanted, or simply enjoying the downtime. 

We’ve been given the gift of a “pause” from our everyday lives, and this may be the only one we get in our lifetimes. This time we’ve been given is a great opportunity to take an online course, learn a new language, perfect your baking skills, take on a new hobby, or just catch up on all those backlogged emails. We want to encourage you to try to remain positive and take pleasure in the little things that you may not have made time for previously

This is also a great time to reassess your wants versus your needs. Is a bigger, newer home what you need? Or would you better off to downsize to a smaller home and live a more minimalistic lifestyle? Do you need the newest iPhone or will your current phone suffice a little longer? Do you wish you had more quality time with your kids? This is your opportunity to make some changes that you can carry forward into the ‘new norm’. Take this time to reflect on what’s truly important to you and how you can make this part of your everyday life. 

Last but definitely not least, focus on the things you can control. Turn the TV off if the news is too depressing, avoid spending too much time on social media, these are just two small things that you can control and will help with your current mindset. Additionally, be sure to incorporate a little exercise in your daily routine, try to eat a balanced diet, and most importantly, remember to laugh and smile, each and every day! 

As always, we at JP Real Estate would like to remind you that we are more than a real estate company, we are a community and we will get through this together. We look forward to speaking with you and connecting greatness!

Crystal clean credit during Covid-19

*Caron Price, Mortgage Expert 

In addition to navigating self-isolation the vast majority of us are also facing uncertain financial stress.  There are a few things you can do to keep your credit rating in its’ best shape.

• Stay in touch with your credit providers.  Even before COVID-19 the best thing you can do, if requiring financial assistance, is to communicate with your credit providers.  Currently lenders are offering payment deferrals on mortgages, lines of credit, auto loans credit cards & personal loans.  Some lenders have also been able to offer short term interest rate reductions or the complete elimination of charging interest.  If you are struggling to maintain your commitments reach out to your lender and let them know.  Their customer service departments are working hard to facilitate your needs but they can’t help you if you don’t let them know you need it. 
• Get it in writing.  Whatever repayment terms you agree to with your lender, that are outside of your original contracted commitment, ask for this in writing.  Lenders have verbally stated that they will not be negatively reporting deferred payments but the credit reporting in Canada is not foolproof and there is room for error.  Protect yourself by having the agreement in writing.  That way you would have proper documentation to have the incorrect reporting removed from your credit bureau.
• Make your minimum credit card payments on time.  Many credit card providers are also offering payment deferrals.  Should you choose to defer for 6 months on the 7th month all 6 months of the accrued interest payments will be due.  If you can afford to keep your monthly minimum payments up to date you will not only ensure your credit history on the account remains intact but you will also save yourself from a large payment being due in the 7th month.

JP Real Estate is more than a real estate company, we are a community and we will get through this together. We look forward to speaking with you and Connecting you to Greatness!

*Caron Price is a trusted Mortgage Expert with DLC Modern Mortgages in Victoria, B.C.

We hope you had a wonderful and safe Easter weekend! We are extremely sympathetic to how this year’s Easter celebrations have differed from previous years, however, we hope you are well-fed, warm and were able to connect with the ones you love.

The last 2 weeks have been extremely trying and challenging times for everyone and we want to remind you that JP Real Estate is here to help you get through this. We are just a call, text, or email away!

Over the last 2 weeks, we have been in contact with over 50 of our dedicated clients simply to check-in, share news, and offer information or assistance. We are committed to ensuring that we, as a community, will get through this together.

We’d also like to remind you that we have an amazing, trustworthy team of lenders, brokers, plumbers, carpenters, electricians, inspectors, architects, lawyers, and general contractors at our disposal. If you are wondering how to deal with any of the following subjects during this time: Leasing, Mortgages, Land deals, business restructuring, tenant issues, buying and/or selling your home and/or business; please do not hesitate to let us know. 

With regards to personal finances, please remember that it’s not too late! Speak to your accountant if you think you might qualify for relief, or contact us, we would happy to talk through the process with you.

Also, you are still able to submit your documents in regards to speculation tax if you haven’t done so yet. Let us know if you have any questions about this.

JP Real Estate is more than a real estate company, we are a community and we will get through this together. We look forward to speaking with you and Connecting you to Greatness!

JP Real Estate is here to help

Our lives have changed drastically in the last few weeks and we have found ourselves in some extremely uncertain and unnerving times. While it may seem that life has been put on pause, for the time being, we understand that things must continue to move forward and we want to help.

In the last 35 years we have built a network of trustworthy teams, including lenders, brokers, plumbers, carpenters, electricians, inspectors, architects, lawyers, and general contractors, just to name a few. We would like to put our amazing team to work by helping you. If you have questions on the following subjects: Leasing, Mortgages, Land deals, business restructuring, tenant issues, buying and/or selling your home and/or business; we are happy to put our team at your disposal.

JP Real Estate is here to help you maneuver through these trying times and will offer suggestions on how you can continue with your real estate projects and transactions. This is a time for the “Village” - our great community, to come together and help each other.

We are happy to speak with you about the current real estate market, potential economic changes we may see in the future, or how we can maintain some normalcy in our lives while remaining healthy and not putting ourselves at risk. We strive to keep ourselves informed with the most up-to-date information and would be honoured to discuss and offer you whatever help is most relevant or simply bounce some ideas off each other. Whatever it is you want to talk about, in absolute confidence, we are here for you, so please reach out with any questions or concerns you may have.

JP Real Estate would like to remind you that we are more than a real estate company, we are a community and we will get through this together. We look forward to speaking with you and Connecting you to Greatness!

Virtual property tours offered by JP Real Estate

Are you looking for a new home but not wanting to leave the house? Are you practicing social isolation? Or is it just too cold and you don’t want to go outside? JP Real Estate has you covered! We are now offering free virtual tours of property listings that you can watch from the comforts of your living room! 

We understand that photos can often be deceiving and we’d like to eliminate that from your purchasing experience. We know your time is limited and there’s no reason for you to physically tour countless properties when you can do this from the comforts of your home. With a virtual tour, you will see the entire property, step-by-step, from the moment we arrive until we leave. 

What is a virtual property tour?

A virtual property tour is just that, a virtual tour of the property. We have the most up-to-date technology to provide you with a tour of a house or property that you can watch from the comforts of your home or office. 

We will provide you with a virtual property tour of current listings that are you are interested in while highlighting the small features that most would only notice in person. We will focus on the intricate details that each home offers while showcasing the entire property and each room. Throughout the tour, you can expect to see full views of each room, the hallways and/or staircases to each room, as well as the property exterior. We will also take extra care to focus on the little details, we know these are often the most important! 

What can I see with a virtual property tour?

These virtual tours will commence at the beginning of the property, offering you the full view of the home’s curb appeal and walk you through the entire home, as though you were there in person. We can provide accurate measurements of each room while doing this, as well as showcase smaller features such as lighting fixtures, bathroom faucets, closet space, and so much more. 

Is there something specific that you’re interested in at a property? Let us know and we will be sure to take some extra time to display this carefully and describe its features in great detail. If you’d like to see a close up of the kitchen countertops, the hot water tank, or the shop in the backyard, we can easily provide this for you. 

We will also tour the entire property along the property lines to showcase the size and manageability of each home. This will give you a full view of the yard and the home from many different angles.

Why do I need a virtual property tour?

Having the opportunity to view these properties virtually will give you an insight into the property that photos simply can not offer. After viewing the virtual tours, your list of potential properties will likely decrease considerably, meaning you may only need to physically tour 1 or 2 properties before making an offer to purchase your new home! 

How do I arrange a virtual property tour?

To arrange a virtual property tour, simply contact us at your earliest convenience to let us know the desired property and specific requirements you may have, we will take care of the rest!  

Please keep in mind that we will offer virtual tours only while it is safe to do so and with the seller’s permission. We will not take unnecessary risks during these uncertain times. 

How much does it cost?

We, at JP Real Estate, are excited to offer this service, free of charge, to our community. We look forward to helping you find your new home and connecting greatness!

The Coronavirus is a fast-spreading virus that seems to be taking over a new country every day, at an alarming rate and causing extreme panic throughout the world. As this virus continues to spread rapidly through many western countries, it’s just as quickly disappearing in China. This may be a good sign that the end is near, however, according to medical professionals, it will likely get worse before it gets better, just as it did in China. 

How is it affecting Canadians?

Even here in Canada, our Prime Ministers wife tested positive for the virus, prompting Justin Trudeau to immediately quarantine himself and his family for the recommended 14 days. This is precisely the leadership our country needs during these uncertain times. 

This virus has caused chaos as we have never seen before around the world and in North America. We have seen the NHL and NBA canceled, the MLB postponed, Disneyland has closed, and most recently, the majority of hotels on the Las Vegas strip have announced that they too, will be closing their doors. Airports are deserted and our borders are closed with those traveling abroad being advised to return home immediately. Schools have been closed in parts of the country for the remainder of the school year, and restaurants, bars, and entertainment venues have been asked to shut down for 2 weeks to halt the spread of this virus. These decisions have not been made lightly, it’s been with extreme caution and care of the citizens of Canada and across the globe in hopes of containing this virus as quickly as possible. 

What can we do to stop the spread of Covid-19?

While many people are panic buying items such as toilet paper and hand sanitizer, they are not taking the proper precautionary steps to minimize the spread of this virus. As many medical officials have stated, “behave as though you already have the virus” and what they mean by this is “social isolation”. This is a new term to us, and it simply means to stay away from crowded areas, don’t visit high-risk individuals, and take precautionary measures to ensure you do not infect others. Many carriers of this virus do not realize they have been infected, therefore making them the most dangerous of all. 

As the number of infected individuals continues to grow, we at JP Real Estate would like to offer you a few reminders to help you get through this pandemic:

• Wash your hands frequently;
• Try to avoid crowded places;
• If/when you need groceries or supplies, send 1 person from the family (if possible) to buy these. Less people = less risk;
• Make a list of what you need. You do not need to stockpile. ;
• Order your groceries online and have it delivered directly to your home or to your car in the stores parking lot
• Pay your bills online; and
• Work from home, if possible.

What is “social distancing” and why is it so important?

Social distancing does not mean we need to live in complete isolation, it means we need to be aware of our surroundings and only enter crowded places when absolutely necessary. We need to be cautious of the things we touch, the things we purchase, and the people we visit. Social distancing is particularly important for visiting the elderly, as they are at extremely high risk of infection.

What does JP Real Estate think of all this?

First and foremost, we would like to thank the healthcare workers who are working tirelessly on the frontline every day to ensure our safety.

We hope you are all warm, well-fed, and safe in your homes. If there is anything we can do to assist you and your family during this time, please do not hesitate to reach out to us. We are more than a real estate company, we are a community and we will get through this together.