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I have sold a property at 110 10180 RYAN RD in Richmond

I have sold a property at 110 10180 RYAN RD in Richmond. See details here

Welcome to Stornoway. Nestled amongst 4 acres of landscaped gardens, this spacious, well maintained 2 bed 2 bath condo is incredible value and a must see. Hardwood floors, great flow from room to room, in suite laundry room with storage, walk in closet, ensuite, fireplace & large covered patio where you can enjoy your morning coffee while you take in the sounds of the birds or relax with a glass of wine after a long day and enjoy the beautiful park like setting. Swim in the pool on hot summer days, and enjoy a sauna to cap off the evening. This unit includes a secure parking stall and storage locker. Maintenance fees include heat, water (including hot), use of amenities and a full time caretaker. Well run and proactive strata. Don't miss out!

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Open House. Open House on Sunday, April 23, 2023 2:30PM - 4:00PM

Please visit our Open House at 110 10180 RYAN RD in Richmond. See details here

Open House on Sunday, April 23, 2023 2:30PM - 4:00PM

Welcome to Stornoway. Nestled amongst 4 acres of landscaped gardens, this spacious, well maintained 2 bed 2 bath condo is incredible value and a must see. Hardwood floors, great flow from room to room, in suite laundry room with storage, walk in closet, ensuite, fireplace & large covered patio where you can enjoy your morning coffee while you take in the sounds of the birds or relax with a glass of wine after a long day and enjoy the beautiful park like setting. Swim in the pool on hot summer days, and enjoy a sauna to cap off the evening. This unit includes a secure parking stall and storage locker. Maintenance fees include heat, water (including hot), use of amenities and a full time caretaker. Well run and proactive strata. Don't miss out!

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The New First Home Savings Account

The recent federal Budget in March 2023 introduced Canadians to a new financial tool meant to make the entry into residential home ownership more of a reality for many.

The FHSA will allow eligible Canadians to make a tax-deductible contribution to a savings vehicle geared solely for their first home purchase.

Who qualifies for the program?

  • Canadian residents aged 18 or older.
  • Can not have lived in a home they own (including a spouse or common law partner) the year the account is opened, or in the previous four years.
  • Those new to Canada must meet the same criteria regarding previous home ownership status.
  • Deposits must come from the person whose name the plan is registered in, it cannot be made by another family member or friend. However, money can first be gifted to the individual, who then makes the contribution to the account.
  • A spouse can have their own FHSA, thus allowing a couple to have up to a total of $80,000 in both accounts. However, the source of the funds must not be from the spouse or another family member, unless it is gifted outright to them prior to the deposit into FHSA.

What are the allowable contributions to the plan?

  •  Starting April 1st, 2023, eligible Canadians can contribute $8,000 annually to a lifetime maximum of $40,000.
  • Once an FHSA is established any unused allowable contribution room (up to $8,000) can be carried forward to a future year.
  • Deposits are tax deductible, reducing one’s taxable income for the year, working much the same way as an RRSP contribution.
  • Funds grow tax deferred, and if withdrawn for the home purchase are considered non-taxable, much like TFSAs.

How are the funds accessed when needed?

  •  If the home purchase qualifies under CRA’s rules a form RC725 would be completed and submitted to the issuer of the account.
  • The principle plus all growth can be withdrawn tax free, assuming the home purchase meets all the requirements.
  • Proceeds can be used for the down payment or for other expenses related to the purchase, such as closing costs and moving expenses.
  • A commitment must be made to live in the home for a minimum of one year or the tax benefits will be reversed.

How will the deposits be invested? 

  • Rules guiding investment options will follow the same as what is available for RRSPs, RRIFs and TFSAs.
  • The range will be from conservative investments such as Daily Interest Accounts, Term Deposits and GICs through to Mutual/Segregated Funds all the way to buying individual qualifying stocks and bonds.
  • These various investment vehicles can be purchased from banks, credit unions, life insurance companies, brokerage firms or self-directed online platforms; as long as they are registered in Canada.

Can I have a named beneficiary if I die prematurely?

  • Yes, and a spouse can transfer to their own FHSA if they qualify, or to an RRSP or RRIF in their name without tax consequences.
  • For anyone other than a spouse it will be treated much like RRSPs/RRIFs in that it is taxable in the estate of the deceased in the year of death.

Does an FHSA ever expire? 

  • Yes, they do, either on the 15th year from the date it was first opened OR at age 71, whichever comes first.
  • At expiry the proceeds can be rolled tax free into one’s RRSP/RRIF without tax consequences, but the amount does not qualify as another tax-deductible contribution like the original deposit.
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New property listed in South Arm, Richmond

I have listed a new property at 110 10180 RYAN RD in Richmond. See details here

Welcome to Stornoway. Nestled amongst 4 acres of landscaped gardens, this spacious, well maintained 2 bed 2 bath condo is incredible value and a must see. Hardwood floors, great flow from room to room, in suite laundry room with storage, walk in closet, ensuite, fireplace & large covered patio where you can enjoy your morning coffee while you take in the sounds of the birds or relax with a glass of wine after a long day and enjoy the beautiful park like setting. Swim in the pool on hot summer days, and enjoy a sauna to cap off the evening. This unit includes a secure parking stall and storage locker. Maintenance fees include heat, water (including hot), use of amenities and a full time caretaker. Well run and proactive strata. Don't miss out! Open House Sat Apr 15 & Sun Apr 16 from 2-4.

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Open House. Open House on Saturday, April 15, 2023 2:00PM - 4:00PM

Please visit our Open House at 110 10180 RYAN RD in Richmond. See details here

Open House on Saturday, April 15, 2023 2:00PM - 4:00PM

Welcome to Stornoway. Nestled amongst 4 acres of landscaped gardens, this spacious, well maintained 2 bed 2 bath condo is incredible value and a must see. Hardwood floors, great flow from room to room, in suite laundry room with storage, walk in closet, ensuite, fireplace & large covered patio where you can enjoy your morning coffee while you take in the sounds of the birds or relax with a glass of wine after a long day and enjoy the beautiful park like setting. Swim in the pool on hot summer days, and enjoy a sauna to cap off the evening. This unit includes a secure parking stall and storage locker. Maintenance fees include heat, water (including hot), use of amenities and a full time caretaker. Well run and proactive strata. Don't miss out! Open House Sat Apr 15 & Sun Apr 16 from 2-4.

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Open House. Open House on Sunday, April 16, 2023 2:00PM - 4:00PM

Please visit our Open House at 110 10180 RYAN RD in Richmond. See details here

Open House on Sunday, April 16, 2023 2:00PM - 4:00PM

Welcome to Stornoway. Nestled amongst 4 acres of landscaped gardens, this spacious, well maintained 2 bed 2 bath condo is incredible value and a must see. Hardwood floors, great flow from room to room, in suite laundry room with storage, walk in closet, ensuite, fireplace & large covered patio where you can enjoy your morning coffee while you take in the sounds of the birds or relax with a glass of wine after a long day and enjoy the beautiful park like setting. Swim in the pool on hot summer days, and enjoy a sauna to cap off the evening. This unit includes a secure parking stall and storage locker. Maintenance fees include heat, water (including hot), use of amenities and a full time caretaker. Well run and proactive strata. Don't miss out! Open House Sat Apr 15 & Sun Apr 16 from 2-4.

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I have sold a property at 13 15717 MOUNTAIN VIEW DR in Surrey

I have sold a property at 13 15717 MOUNTAIN VIEW DR in Surrey. See details here

Welcome to "Olivia" in sunny South Surrey! This lovely N/S facing 2070 sq.ft., 3 level townhouse boasts a spacious open layout with 4 bdrms, 3.5 baths. Extra feature include Central air-conditioning, custom millwork including shelves, white-washed panelled walls, walk-in pantry, sleek white shaker cabinets, and quartz counter tops and island, with built-in wine cooler and coffee bar, wood blinds, mud room with sitting bench & updated lighting. Embrace the stunning beauty of nature with views of mountains/ green grass & open sky! The 4th bedroom below is fantastic for a teen-haven, home office or gym with direct access to the fenced backyard. Plus a double car garage with an additional 2 parking spots on driveway.

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I have sold a property at 39 7891 211 ST in Langley

I have sold a property at 39 7891 211 ST in Langley. See details here

This immaculate 2 storey w/bsmt built by Benchmark Homes. Offering a spacious floor plan with 10' ceilings, coffered detailed ceiling in dining area, engineered hardwood flooring, gas fireplace. Custom kitchen ft soft close cabinets, B/ fridge, dbl wall oven, induction stove & g island w/ bar fridge. Office on main level, Upstairs laundry room, 5 large bedrooms. Step up to the luxurious master feat custom walk-in closet & spa inspired ensuite, soaker tub, double sinks & heated floors. Basement w/ separate entrance, huge room, bath. Low maintenance yard w/ irrigation system, backyard turf, private patio & gas bbq connection. So much more to see! Located close to shopping, conveniences, schools & transit. Lovely families in the neighbourhood

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I have sold a property at 82 5311 ADMIRAL WAY in Ladner

I have sold a property at 82 5311 ADMIRAL WAY in Ladner. See details here

Enjoy living in the sea-side inspired master planned community of Hampton Cove at Polygon's Westhampton. Nestled in nature, explore what this growing community has to offer. This 1,900 sq. ft. 4 bed townhome features overheight main floor ceilings, laminate wood flooring, a central fireplace and deck off of the family room. The kitchen boasts custom wood cabinetry, sleek stainless steel appliances and engineered stone countertops. The main bedroom offers a large walk-in closet and the ensuite features a generous soaker tub and shower. Downstairs, enjoy the convenience of a storage room and double car garage.

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I have sold a property at 601 5011 SPRINGS BLVD in Tsawwassen

I have sold a property at 601 5011 SPRINGS BLVD in Tsawwassen. See details here

Beautiful & bright South facing fully renovated Penthouse w/private double car garage at the highly desired Tsawwassen Springs. This 2 bedroom, 2 bathroom, 1229 sqft spacious condo in a concrete building is the definition of luxury. Chef inspired kitchen w/floor to ceiling cabinetry, quartz countertops, Fisher & Paykel appliances, & Jenn-Air steam/convection oven. The 15’ ceilings, large windows, exposed brick feature wall, gas fireplace, 2 balconies,& spacious spa-inspired bathrooms w/walk in shower in ensuite make it perfect for someone wanting to downsize without sacrificing. Geothermal heat + A/C (included in the maintenance fees), in-suite storage room, & gas hookup on patio only add to the appeal. Walking distance to Pat Quinn’s restaurant, Nat's Coffee House & Newman's Foods.

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