Naru Menon’s Blog
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Property Assessment: BC’s Top Valued Residential Properties
BC Assessment updated property values, showing minor changes mostly between ↓ 5% to ↑ 5%. BC Assessment disclosed the top 500 highest-valued residential properties in the province.
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Happy Lunar New Year
恭喜發財. Wishing you prosperity. Lunar New Year, is the most important celebration observed in China, with cultural and historic significance.The New Year celebration is centered around removing the bad and the old, and welcoming the new and the good. Traditional activities include reunion dinner, cleaning houses, visiting family members, setting off firecrackers and fireworks, and…
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Coquitlam Market Update
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Rethinking B.C.’s Homeowner Grant Fairness
The B.C. homeowner grant, introduced in 1957, is criticized for being outdated and unfair. In 2024, the grant applies to properties valued at $2.15 million or less, covering 92% of B.C. homes.
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Here’s What Will Cost More or Less in BC in 2024
BC electricity costs may increase by 2.3%, adding ~$2/mo to the avg residential bill starting in April 2024.Rent in BC could go up, with a 3.5% maximum allowable increase in 2024, below the 5.6% inflation rate.
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BC’s 2024 Homeowner Grant Applications Are Now Open
BC's 2024 homeowner grant applications are open, with a threshold of $2.15M covering 92% of homes in the province. Grant amounts remain the same, offering up to $570 relief for specific regions and $770 for others.
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Best Fixed Mortgage Rates In Canada For 2024
Nesto, Dominion Lending Centres, The Mortgage Centre, First National Financial LP, and THINK Financial are Canadian mortgage refinancing services, offering competitive fixed rates, varied loan options, and prompt closing. Each lender has unique strengths, with some focusing on online applications and customer satisfaction, while others offer personalized services. Factors such as prepayment privileges, penalty calculation…
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Record number of rental homes registered in B.C. in 2023
In 2023, British Columbia saw a record 30% increase in purpose-built rental homes, with 19,064 homes registered. The construction industry played a significant role in this increase. Additionally, 45,647 new homes were registered, including single and multi-unit homes. The Province's $19 billion housing investment through the Homes for People plan, the largest in B.C.'s history,…
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New Listing: 103 13628 81A AVENUE
Welcome to Kings Landing by Dawson & Sawyer! This 2 Bedroom, 2 Bathroom gem boasts a bright and open concept, offering a modern and inviting living space. As good as new , with Home warranty 5-10 year's still in place. The well-maintained unit features a nice balcony, perfect for enjoying the outdoors. GREAT AMENITIES await…
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Will B.C.’s Housing Plans Be Enough?
BC plans to implement housing policies in 2024, including measures to increase housing options and address affordability.The province aims to generate 293K new homes over the next decade through policy changes.