GVRD assessments and construction question

Now prices are getting redonculous. House exactly like ours up the street went for 300K over asking. This is port moody! Not even Heritage Mtn. I'm thinking cash the fuck out. Wife is thinking long term. How do I convince her to take the money and run?

http://www.sandrah.biz/smithers_real_estate/real_estate_listing.php?mlsn=8000703#.Vruhg1Kph-w

if you got 600K you could buy a bike store^^ and an ok house in town outright

Close to schools, shopping, skiing and COB is right across the tracks from the bluff trail system

mid island is still pretty cheap.

mid island is still pretty cheap.

https://www.realtor.ca/Residential/Single-Family/16575321/2042-COMOX-LAKE-ROAD-CUMBERLAND-British-Columbia-V0R1S0-Z2-Cumberland

Cabin on the lake.

https://www.realtor.ca/Residential/Single-Family/16575321/2042-COMOX-LAKE-ROAD-CUMBERLAND-British-Columbia-V0R1S0-Z2-Cumberland

Cabin on the lake.

And be neighbours with Viperfunk? Fuck that. Actually, i'm from comox and have been trying to move back there for years. I can now work anywhere from home with my job and still travel for work tons (comox airport). But the issue is the wife. She's an interior designer and doesn't think there is ANY work outside the LM for her. people in smaller towns tend to spend money on cool shit like season's passes, boats and campers n' shit and not shitty wallpapers and quartz countertops.

Depends how much she needs to work once you've torn up the mortgage.

And be neighbours with Viperfunk?

No idea what that is. I just cherry picked the first unique cheap ad from mls that I found when Rat mentioned the Island is still affordable.

And be neighbours with Viperfunk? Fuck that. Actually, i'm from comox and have been trying to move back there for years. I can now work anywhere from home with my job and still travel for work tons (comox airport). But the issue is the wife. She's an interior designer and doesn't think there is ANY work outside the LM for her. people in smaller towns tend to spend money on cool shit like season's passes, boats and campers n' shit and not shitty wallpapers and quartz countertops.

There's still a lot of homes being built around there. Also a lot of migration, so if suspect there is remodeling work.

First, an assessment is a value assigned to your property by the municipality, used to determine how much tax you need to pay them, relative to other properties in your municipality.

Second, not since the sub-prime crisis of '08 will the banks lend off a property assessment alone. You're going to need an appraisal at least, if you want to access your equity.

Third, as mentioned, you will need to service the debt, both in reality, and for qualifying.

Finally; so you cash out. What next? Where do you go? Unless your relocating to a different market, or downsizing, you're going to have to overpay for another property here, only now you're out of pocket for Realtor fees on your sale, and transfer tax on your purchase. Depending on the values of the two properties in question those amounts can easily be in the tens of thousands of dollars each.

http://www.sandrah.biz/smithers_real_estate/real_estate_listing.php?mlsn=8000703#.Vruhg1Kph-w

if you got 600K you could buy a bike store^^ and an ok house in town outright

Yeah, it should be a good few years until you've burned through all your cash thanks to the bike store.

:lol:

First, an assessment is a value assigned to your property by the municipality,

Actually, the assessment is a value assign by the BC Assessment authority, a crown corporation answerable to the BC provincial government. Municipalities have no say in the process.

The assessments are based on market rates and conditions and are, for the most part, fairly realistic. However, the assessments are generally done 6 months to a year before the assessments are mailed to homeowners, so in a fast moving market, they will be out of date.

I did some interior renos and told them. They increased my assessed value.