As of December 15, 2024, significant changes to Canada’s mortgage regulations have been implemented to enhance housing affordability and accessibility. These reforms include increasing the insured mortgage cap to $1.5 million and expanding eligibility for 30-year amortization periods. Here’s a recap: Increased Insured Mortgage Cap Previously, mortgage loan insurance was unavailable for homes priced above $1 million, necessitating a minimum … Read More
The Benefits of Working with a Local Real Estate Agent
Working with a local real estate agent is extremely beneficial. Local agents bring unparalleled expertise, insight, and personal connection to the table. They are deeply rooted in the communities they serve. They know the neighbourhoods, the market trends, and the unique qualities that make each area special. This knowledge will get you better advice, more accurate pricing, and a tailored … Read More
Navigating the New Changes in Capital Gains Tax and Flipping Homes in Canada
With recent changes to capital gains tax legislation, Canadian real estate investors, especially those who consider themselves “home flippers,” should stay informed about how these updates could impact their financial strategies. At Phillips and Munro Real Estate Team, we’re always committed to guiding our clients through the ever-evolving real estate landscape. We will explore the latest capital gains tax law … Read More
Investing in Real Estate: Pros and Cons of Different Residential Properties and Strategies Worth Considering
When it comes to investing in real estate, the landscape is as vast as it is varied. For more than two decades, the Kim Phillips Real Estate Team has been guiding buyers and sellers through the bustling markets of Langley, Cloverdale, and South Surrey. Local realtors, our team stands in the Top 1% of the Fraser Valley, which showcases our … Read More
Renting vs. Buying: Deciding Which Option is Right for You
Navigating the world of real estate can feel daunting, especially when it comes to the age-old debate of renting versus buying. But when this choice impacts where you choose to live, the most important decision is your choice of realtor. Remember: you deserve a real estate agent who cares about your unique situation and understands the intricacies of Cloverdale, Langley, … Read More
Buying a Home in South Surrey? Here Are Some Things to Look For…
In today’s market, you deserve not just any realtor, but the best. You deserve a team that’s dedicated, knowledgeable, and has your best interests at heart. Buying a home is a significant milestone, and the Kim Phillips Real Estate Team believes you deserve a realtor who genuinely cares. Let’s dive into the details worth considering when shopping for real estate … Read More
The Importance of Home Inspections Before Buying in the Fraser Valley
The Fraser Valley, with its stunning landscapes and vibrant communities, has emerged as a hotspot in British Columbia’s real estate market. Amid this dynamic market, the importance of home inspections cannot be overstated. The Kim Phillips Real Estate Team, a dedicated group of local realtors, has been assisting buyers and sellers in South Surrey, Cloverdale, and Langley, ensuring seamless transactions … Read More
The Benefits of Downsizing Your Home and How to Do It Successfully
Downsizing – the practice of moving to a smaller living space – has been gaining traction among various demographics, from retirees to urban dwellers. This process can bring numerous benefits, both economically and emotionally. The Kim Phillips Real Estate Team, recognized as some of the best realtors in Cloverdale, Langley, and South Surrey, has decades of experience in helping clients … Read More
Saving For Your Dream Home? 5 Spending Habits WORTH Breaking
Get ready to turn your dream of owning BC property into a reality! Saving up for a new home is a thrilling journey, but it can definitely seem overwhelming. Don’t worry – we’ve got you covered. By changing a few spending habits, you can transform your finances and get that much closer to becoming a homeowner. With a little bit … Read More
Community Highlight: Brookswood, Langley
Thinking about making a move to Langley, British Columbia? There are several neighborhoods that make up the City of Langley and Langley Township. These neighborhoods are Aldergrove, Brookswood, Campbell Valley, Glen Valley, Fort Langley, Langley City, Murrayville, Otter District, Salmon River, Walnut Grove, Willoughby Heights. Today we are highlighting the Brookswood neighborhood. If you’ve been searching for Langley homes for … Read More