BC HOME GROUP | SHIRIN PUREWAL | VICTORIA REAL ESTATE | info@bchomegroup.ca1-778-401-9545

I am soo excited to have already SOLD two units in this fantastic project The Hudson Place One Project located at 777 Herald St!

 

I can honestlly say for what you are getting, this project is fantastic! The ocean view prices are fantastic. They are launching to the public soon. If you would like a special pre-showing with a pre-booking opportunity call me 1-778-678-5626 or you can submit a form for an appointment LINK 

 

 

To Download the Floorplans and Project Overview click on the following LINK.

For a Price list, please click on the folllowing LINK.  NOTE: these prices will be changing  soon ! So let's arrange an appointment before they do.

 

Talk soon :-) Shirin Purewal 

 

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I have sold a property at 119 1375 Bear Mountain PKY in VICTORIA.
ACCEPTED UNCONDITIONAL OFFER IN PLACE. NO FURTHER SHOWINGS. THANK YOU FOR YOUR INTEREST. Immaculate one bedroom, one bath desirable ground level condominium nestled in private quiet St. Andrews Walk East, on the very top of Bear Mountain. Condo offers wood floors, granite counter tops and higher end KitchenAid stainless appliances. Abundant natural light pours into your living room that features high ceilings and an electric fireplace. Enjoy evening BBQs on your own private covered patio, as well as underground-secured parking, separate storage locker and a dedicated bike storage area. Steps to the Bear Mountain Jack Nicklaus designed Golf Course and Mt. Finlayson. Your pets are welcome here! Whether you are buying to live in, or as a vacation retreat for you to escape the city or an investment, this condo in St. Andrews Walk is a great opportunity while it lasts!
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The Standard Contract of Purchase and Sale, section 11, requires that all registrable documents are to be lodged for registration by 4:00 pm at the appropriate land title office on the Completion Date. This clause has the effect of restricting the actual time of day for completion to occur on the Completion Date.  In a recent Supreme Court of British Columbia case a Buyer was found to have been in breach of their contract by virtue of their Notary not having filed land title documents prior to 4:00 pm on the Completion Date of a transaction.  There are certain circumstances outside of a Buyer’s control (such as receipt of sale proceeds, delay in mortgage financing, or other instances) that may make it impossible to file land title documents prior to 4:00 pm.

 

In this regard, we suggest that you consider deleting the words “by 4 pm” from section 11 of the Standard Contract of Purchase and Sale when acting for a Buyer.

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A total of 755 properties sold in the Victoria Real Estate Board region this May, 25 per cent fewer than the 1,006 properties sold in May of last year, and a 2.5 per cent decrease from April 2018. The sales of condominiums were down 17.4 per cent from last year in May with 237 units sold. Sales of single family homes were down 23 per cent from 2017 with 406 sold this May.
 
"It's no surprise that our current market is very different than it was last year," says Victoria Real Estate Board President Kyle Kerr. "Due to recent changes in mortgage qualification rules, many buyers' purchasing power has been reduced. Unfortunately, in our area we have one third fewer single family homes for sale under $750,000 when compared to last year, so we're seeing pressure from increased competition on a smaller number of homes, which is really pushing the under million dollar market. We have a much larger inventory of higher value homes this year. For listings priced at $1.5 million and above, the number of active listings is almost 50% higher than last year at this time. Arguably, many of these properties may be listed due to new and incoming taxes from the provincial government. The Foreign Buyer Property Transfer Tax, the Speculation Tax, and the increased School Tax are putting pressure on those high value home owners. Unfortunately, these taxes are not resulting in what the government said it intends - to increase the availability of affordable housing."
 
There were a total of 2,394 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2018, an increase of 19.6 per cent compared to the month of April and 26.3 per cent more than the 1,896 active listings for sale at the end of May 2017.  
 
"We're in an interesting time here - we are seeing different levels of price pressure and price relief in micro-climates of our area," adds President Kerr. "You may find more flexibility if you are shopping for a multi-million dollar estate in certain areas. You may be in for a competition if you're shopping for a lower priced home or condominium. If you're thinking of buying or selling, it's a good idea to meet with a local REALTOR® to understand how the current environment will affect you."
 
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in May 2017 was $820,800, while the benchmark value for the same home in May 2018 increased by 7 per cent to $878,100, higher than April's value of $866,700. The MLS® HPI benchmark value for a condominium in the Victoria Core area in May 2017 was $426,900, while the benchmark value for the same condominium in May 2018 increased by 15.7 per cent to $493,900, slightly lower than April's value of $495,100.
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Looking to buy a Waterfront Condo?

 

I am currently working with various developers as well as homes for sale on MLS that are waterfront condos...and you want to know what I think...

 

I can tell you....these homes are in my opinion undervalued compared to what the same condos would sell for in a city like Vancouver or Toronto.

 

In my opinion any condo with an amazing view, most importantly water view and waterfront, in the desirable city of Victoria is a fantastic investment.

 

Lets look at some waterfront invesments or contact me to further discuss your options in this beautiful city.

 

Let's catch up soon.

 

Have a great day!

 

Shirin 

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Are you looking for a home under $400,000 in Victoria BC?

 

With real estate prices continuously increasing in Victoria. It is hard to find a good deal or to find a home for under $400,000. Make sure you download our app ( download link on home page CLICK HERE ) and also click on the following link to find the latest listing in victoria for under $400,000.

 

I am here to help you! Make sure you contact me if you have any questions on buying your next home. 

 

Talk soon :-)

 

Shirin 

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The Empty Home Tax Applied. What now? 

If a property is subject to the EHT and the owner wishes to avoid the tax, the owner may:

    • Become a landlord by renting the property for a minimum of six months of the year, in periods of at least 30 consecutive days (i.e. a month to month or fixed tenancy agreement);
    • Enlist a property management firm to rent the property for the required duration, or consider a lease with a company (e.g. a business who has employees who work periodically on Vancouver, or a film company) who can sublease or license to individuals who will occupy the home for at least 6 months of the year for periods over 30 days;
    • Invite a family member or friend to occupy the property as their principal residence for at least 6 months of the year. If the owner has a family member or friend occupy the unit, they do not have to pay rent but a rental agreement should be entered into confirming the terms of the tenancy and the occupier must occupy the property as their principal residence for at last 6 months of the year;
    • Keep the property as-is and pay the EHT; or
    • Sell the property.
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New Foreign Entity Tax 

On February 20, 2018, the province increased the Foreign Entity Tax payable by foreign entities and taxable trustees to 20% on transfers of residential properties registered on or after February 21, 2018, and expanded the areas to which the tax applies from the Regional District of Greater Vancouver to:

  • Capital Regional District (Victoria and Islands)
  • Fraser Valley Regional District
  • Regional District of Central Okanagan
  • Regional District of Nanaimo 

The additional property transfer tax doesn’t apply to properties located on Tsawwassen First Nation lands.

Transitional Rules 

If the property is located in the Capital Regional District, Fraser Valley Regional District, Regional District of Central Okanagan or Nanaimo Regional District and the property transfer is registered on or after February 21, 2018, there are two instances where the additional property transfer tax does not have to be paid.

  1. The additional property tax does not have to be paid where the registration of the transfer occurs on or before May 18, 2018 and the property transfer is subject to a written agreement dated on or before February 20, 2018. (Note: If the written agreement is assigned to a foreign entity or taxable trustee on or after February 21, 2018, the additional property transfer tax must be paid.) 
  2. The additional property transfer tax does not have to be paid where the registration of the transfer occurs at any time, where the property transfer is:
  1. subject to a court order dated on or before February 20, 2018;
  2. subject to an Order Nisi of Foreclosure dated on or before February 20, 2018;
  3. subject to a separation agreement which was signed on or before February 20, 2018;
  4. from the personal representative of a deceased’s estate to the beneficiary and the death of the deceased occurred on or before February 20, 2018; or
  5. to a surviving joint tenant when the death of the deceased occurred on or before February 20, 2018

 

The additional tax is payable on the interest acquired by the foreign entity or taxable trustee, and applies only on the residential portion of a property: There are three types of properties where this may occur:

  1. Property classified as residential (Class I) by BC Assessment. You pay the additional tax based on the fair market value of the full property. 
  2. Property classified as farm land by BC Assessment that includes a residential improvement, such as a building used as a farmer’s home. You pay the additional tax on the value of the residential improvement plus 0.5 hectares of land (1.24 acres).
  3. Property classified as commercial by BC Assessment that includes a residential improvement (Class I), such as a condo in a building with commercial space. You pay the additional tax on the value of the residential improvement.

Residential Property 

As stated above, the Foreign Entity Tax will be triggered by the registration of a transfer of “residential property” to a foreign entity or taxable trustee.

Residential property includes:

    • any lands or improvements that are classified as “Class 1 property” by the BC Assessment Authority
    • not only single-family residences but also multi-family residences, apartments and condominiums
    • undeveloped lands that are classified as Class 1 property by BC Assessment. Nursing homes, cooperative developments, farms and senior residences are also included in Class 1.

The Foreign Entity Tax is payable with respect to any registered transaction that attracts PTT, including the transfer of a fee simple interest in land or a registered lease with a term longer than 30 years.

Foreign Entity 

A “foreign entity” includes both a “foreign national” and a “foreign corporation”. A “foreign national” means a person who is neither a Canadian citizen nor a permanent resident at the time of registration, and includes a stateless person.

Foreign Corporation 

For purposes of determining which corporations are “foreign corporations”, the new rules adopt the “de facto” control test in section 256 of the Income Tax Act (Canada)(”ITA”).

De facto control occurs where a person or group of persons has a clear right and ability to affect the composition or decision of the board of directors of the company, or can directly influence the shareholders of a company that can elect the board of directors.

A foreign corporation includes a corporation that is not incorporated in Canada, a corporation that is incorporated in Canada (including BC) but is “controlled” in whole or in part by a foreign national or foreign corporation, unless the shares of the corporation are listed on a Canadian Stock Exchange, and a corporation which is controlled directly or indirectly by a foreign entity (Section 256 of the Income Tax Act).

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Executive Living with Incredible Views! Experience the best of Victoria's downtown lifestyle in the sought after Astoria! Sun-filled easy care 2BR 2bath w-new hardwood-look flooring, stainless appliances, warm cabinetry, granite counters, in-suite laundry & fresh modern paint scheme! Dramatic picture windows capture the beauty of OCEAN, snow capped MOUNTAINS, and the ever inspiring architecture of the Parliament Buildings & historic St. Ann's. TWO covered Balconies exquisite SOUTH facing exposure. Pets, rentals, all ages & BBQs welcome! Secure underground parking, & modern fitness room. A quick stroll to the bustling Inner Harbour, historic Beacon Hill Park, Royal BC Museum & Parliament buildings. Zoned for vacation rentals.
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Beautifully maintained oceanfront condo at "Harbourside", surrounded by shimmering ponds that front on to the David Foster Walkway around Victoria's Inner Harbour. This fabulous home enjoys spectacular indoor/outdoor living with a sun-filled, west-facing 480 sq ft patio at water's edge. Showcasing 2 sizable bedrooms (well separated & each with ensuite), gourmet kitchen (radiant in-floor heat) with eating nook and tidy workstation, dining area, living room with cosy fireplace & custom built-ins, each room delights in the scenic views where sailboats, kayaks, canoes, harbour ferries, seaplanes and more become the fabric of vibrant harbour living. The master suite features 2 walk-in closets and a spa-inspired ensuite with double sinks & grand shower. Separate storage and bike room in secure underground parking. Pool & fitness membership privileges at adjacent Coast Hotel, 10 minute walk to downtown, BC Museum, galleries, Fisherman's Wharf & Beacon Hill Park.Victoria living at its finest.


For more information please CONTACT US.

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This condo is located on the quiet side of the building with the covered deck overlooking the courtyard. The bedrooms are nicely separated and away from the open concept living/dining area. The kitchen has a large pocket window so that the chef can stay involved in the conversation in the living room. The 1994, quiet, remediated building has no age restrictions and BBQ's & small pets are allowed. Located in an outstanding area, it is walking distance to the picturesque Selkirk Trestle where you can enjoy GLO restaurant and it's outstanding patio. Easy access onto the Galloping Goose Trail. Close to shopping, amenities and major bus routes. (F/S/DW/W/D & Gas Fireplace) In-suite laundry room with additional room for storage, one secured underground parking spot and lots of street parking for a second vehicle, plus additional storage in underground parkade.


For additional information please CONTACT US.

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BEAUTIFULLY UPDATED & JUST STEPS TO DOWNTOWN VICTORIA. Welcome to Evergreen Hill - this well maintained & professionally managed building is ideally located within easy walking distance to everything vibrant Victoria has to offer including the inner harbour, boutique shopping, yoga, theatres & fabulous restaurants. This south/east corner unit is bright, airy & incredibly spacious with generous room sizes & an open, social layout. This unit has undergone a complete & very high-end transformation inside including in-suite laundry, top of the line Torly cork flooring (hypo-allergenic, soft under foot, waterproof & 25 year warranty!), two tasteful & newly renovated bathrooms with lovely tile work, custom kitchen & bathroom cabinetry, stone countertops & stainless appliances. The building has had recent exterior paint, new boiler & new torch on roof. Common features: bicycle storage, work bench area for home projects, rec room & garden beds! No age restrictions and two pets welcome!



For more information please contact us.

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Want to live in an affordable downtown apartment? Want to live and work at home? Want to turn the key on a low maintenance home owner lifestyle? Then you’ll want to see this funky studio condo in the Mosaic building on Fort Street! This bright live/work condo has floor to ceiling windows, wood laminate flooring and is freshly painted. Efficiently designed corner kitchen with fridge, stove and small dishwasher. Stay warm and cozy in front of a gas fireplace, or tuck yourself into the raised sleeping nook set off from the living area. Four piece bathroom with subway-tile tub/shower surround and natural stone tile floors. Adjacent in-suite laundry closet. This unit is on the east side of the building and enjoys morning sunshine and privacy. Rentals and pets permitted, bike storage and storage lockers located in basement level. All of this in a stylish seismically upgraded steel and concrete building!

 

For more information on any unit in this building please CONTACT US.

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Location! Location! Who needs a car when you live in the heart of Victoria’s vibrant downtown district, set amongst the many restaurants, theatres, cafe's and entertainment. Glorious amount of natural light with two walls of windows PLUS a private deck with room for a BBQ & seating! Contemporary kitchen, s/s appliances, under cabinet lighting, dark cabinets, white quartz counters & tile backsplash. Spa bathroom, vessel sink, luxurious soaker tub with rain shower head. Gleaming dark stained engineered hardwood floors, tiled entry hall, bathroom and kitchen. BONUS FEATURES: Transient zoning allows Airbnb, short or long term rentals, spectacular roof top garden with outdoor kitchen & several seating areas, custom closet upgrade + built-in cabinet in the bedroom, separate storage locker on the same floor, insuite laundry, large entryway with closet, car share, bike storage, pets permitted. Measured at 595sqft, Strata Plan at 562sqft.


Contact us for more information on this listing. 

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Bright South West facing suite at the Manhattan! Centrally located in Vibrant Downtown Victoria this is a Steel & Concrete BOSA Built High Rise. Updated & freshly painted this unit is stylish but still a wonderfully cozy 1 bedroom. Features include: 7th floor views overlooking the city & towards the Sooke Hills, a roomy open plan, large picture windows offering tons of natural light & in-suite Laundry. Enjoy long summer days capped by superb sunsets on the extra large balcony. A well run building with onsite caretaker, exercise room + guest suite. LOW Strata Fees PLUS it's RENTABLE & has NO AGE RESTRICTIONS which is good for resale. AND PETS ARE WELCOME!!!! Everything you need is within walking distance. Across the road from the Market on Yates, London Drugs, Starbucks, movie theatres & a hot restaurant/shop or coffee shop on every corner in any direction. Just step outside & enjoy life from your dapper new condo. Click the media icon for 3D tour & floorplans & CALL TODAY TO VIEW!


Please contact us for more information on this unit. CONTACT US.

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Fabulous Saxe Point Waterfront Home! This completely restored 1928 character 4 bedroom/3bath home exudes luxury, from the breathtaking views & water access to the high end, modern finishing perfectly mixed with historic roots. Step inside the open concept main living & dining area w/stunning cork flooring, a gorgeous custom kitchen w/ SS appliances including a gas range, Quartz counters/eating bar, wine cooler, custom built-in cabinetry surrounding a cozy, wood burning fireplace w/ access to a lovely deck. 2 bedrooms, a 2 piece powder room & main floor laundry complete this level. Upstairs you will find an incredible Master Suite featuring the original 1927 clawfoot tub, built in cabinetry & balcony as well as another bedroom & 3 piece bath. The low maintenance yard provides easy water access to swim, kayak, or just explore the tide pools. Walking distance to Saxe Point park, shops, recreational centre, & bus routes. This home is the perfect place to relax!


For more information please CONTACT US.

 

Brokerage: Royal LePage Coast Capital - Oak Bay

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Saanich - Garden Suite Study 
From the District of Saanich:

Public engagement for the Garden Suite Study in Saanich is underway and we are organizing a technical workshop for industry stakeholders to inform the development of prospective regulations. We are looking for individuals with specific qualifications to participate in the workshop and I am emailing to request your help to get the word out. If you can, please distribute this email to your networks and memberships. 
 
Saanich Garden Suite Study Technical Workshop details:
 
Who:
People with specializations in architecture, building/construction trades, contracting, developing, engineering, planning, real estate and property management.
 
When:
Thurs, Jun 7, 2018 at 11 am to 2 pm (Lunch to be provided)
 
Where:
Greek Community Centre 
 
*Pre-registration is required and space is limited. Before Wednesday, May 16 please confirm your participation by email to megan.squires@saanich.ca. In your email, please also indicate your area of expertise/specialization.
 
Background on the Study
The purpose of the Garden Suite Study is to explore community support for garden suites and to investigate potential regulatory changes to permit garden suites in Saanich. The study involves many opportunities for public engagement. To date there have been two open houses (March) and a community survey, which resulted in over 1100 completed surveys.   
 
The project website is the place to go for information and to sign up to receive notifications. 
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TD Bank is offering an aggressively discounted variable mortgage rate of 2.45%—which is 1.15% below its prime—but are there better deals out there?


The bigger question to ask is...should I go variable or fixed?

 

I personally go variable and the reason being :

 

- The penalties are lower in case you want to sell your property or flip it

- You have flexiblity and you can always fix your rate if you are worried of rates going up

- You get a better rate than the current 5 year fixed rate.

 

I personally have always done well in Victoria BC, using a variable mortgage product and recommend, only what I would for myself to my clients as well.

 

If you want peace of mind, however then go with the fixed rate all the way but first make sure you do need to sell your property during the term of your mortgage or you will pay big penalties to get out of your fixed mortgage.

 

Any questions feel free to contact us, we love to help. 

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Reference from Times Colonist Victoria.

 

• Island Farms Victoria Day Parade — Douglas Street, starting at 9 a.m. ending at 11 a.m.

 

What is the route?

The parade goes down Douglas Street from Finlayson Street (near Mayfair Shopping Centre) to Humboldt Street.

What is there to see?

There are more than 100 entries in all. There will be floats, but the big draw for many are the the marching bands from Victoria, Canada and the U.S.

What else?

There will be a flypast by a Sea King helicopter from 443 Squadron at 8:55 a.m. and F-18 Hornets at 8:58 a.m., and there’s a 21-gun salute at 1 p.m. And check out Centennial Square, which will have bouncy castles, a climbing wall, balloons and performances from 10:30 a.m. to 3:30 p.m.

Be prepared!

You might appreciate a chair or blanket to sit on, along with water and snacks. The weather forecast is calling for sun, making a hat, sunscreen and sunglasses essential, but it never hurts to be ready for rain as well (this is Victoria, after all).

What if I don’t want to leave the house?

No problem! Victoria Buzz is live-streaming the event (we’ll have it on our site, too), CHEK is broadcasting it on television, and we'll have coverage on our website and in Tuesday's newspaper.

What about parking?

Parking will be free at the five city-owned parkades and at on-street meters on Sunday and Monday. On-street parking will not be available along the parade route.

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I have sold a property at 2 235 Island HWY in VICTORIA.
Beautiful surroundings and only a 5 minute walk to oceanfront this 3 bedroom + office home has so much to offer. Featuring quality amenities, great floorplan, an open concept kitchen, quartz counter tops, heated tiles, edge grain fir cabinetry, cedar soffits, vaulted 16 ft ceilings, ceiling fans, multiple decks, high quality hardwood and tiles, additional 4th floor storage (approx. 200 sqft, den option), 2 parking spots and ample local greenery. Ideal for any family. Whether you are just starting a family or looking to downsize. Great location and great value.
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