New HOME BUYER’S GUIDE K A M L O O P S
THIS WEEK
Monthly
MARCH 2013 VO L . 9 N O. 2
Let My Expertise Put You in a Better Place! The Mortgage Centre/ Dico Holdings 207-242 Victoria St. Kamloops, BC V2C 2A2
250-374-2222 Tanya Evans
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evans.t@mortgagecentre.com
OUT OF THE OLD INTO THE NEW
Hemlock Construction is turning this 1940s Valleyview Drive bungalow into a modern two-storey home — and ensuring the homeowners have peace of mind throughout the process STORY/C2-C3
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NEW HOMES
Sean Clarke (left) and Rod MacNeil of Hemlock Construction look over the plans for one of their ongoing home-renovation projects — a 1940s Valleyview bungalow — in their Victoria Street office. Dave Eagles/KTW
Taking the headaches out of home renovations Hemlock Construction works with homeowners to make daunting reno work feel seamless
B
UILDING OR RENOVATING A HOME CAN BE A DAUNTING TASK, LEAVING THE HOMEOWNERS OVERWHELMED AND EXHAUSTED. Not so with Hemlock Construction. The Kamloops company, in its ninth year providing custom builds and renovations, has a fix for the potentially confounding experience — and clients like it. Sean Clarke, Hemlock’s owner, said he’s been using cutting-edge software to allow clients the opportunity to take a full three-dimensional tour of their project before any work is done. “Even before we put a shovel in the ground or take a piece of drywall down, we can do a complete walk-through,” he said. “We’re very front-end loaded to make the process seamless and effortless.” Clarke used one of Hemlock’s current projects, a home renovation on Valleyview Drive, to illustrate the process. The house is a bungalow built in the 1940s. The owners of the house today need more space but don’t want to move. So, they called Hemlock and
Rod MacNeil (far right) and Sean Clarke pose for a photo alongside staff members on the site of one of their residential projects in Westsyde. Dave Eagles/KTW
set up an initial consultation, at which options were discussed. The homeowners decided on a plan and, within about a month, were provided with full threedimensional digital renderings of what their renovated home will look like — once it has a second
storey and a new garage. After an estimate is agreed upon and a schedule worked out, Clarke said, work begins — usually about three months after the first meeting, depending on the circumstances. Once work begins, clients are
given access to their own personal web-based homepage to track the project’s progress. “It’s all streamlined. It’s all tracked,” Clarke said, noting photos, schedules, correspondence, permits, plans and warranty information are all included on
the site. “It creates transparency and it eliminates fear. When you don’t have to worry like that, you don’t have the anxiety.” X See RENOVATION C3
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NEW HOMES
When Hemlock Construction is done its facelift on this 1940s Valleyview bungalow (right), it will be a luxurious modern home that still fits in with the surrounding neighbourhood. “We’re very sensitive to the community in the places we build and renovate in,” said Sean Clarke, company owner. “When we’re done, we want someone to be able to drive by and think that it’s been there for 30 years.”
Renovation market picking up steam in Kamloops X From C2
Hemlock production manager Rod MacNeil said the entire process is designed to make things less stressful for the client. “It can be very overwhelming, because they don’t understand the process,” he said. “That’s where we come in
with this approach.” And, it’s happening at the right time. According to Clarke, the home-renovation market in Kamloops is picking up serious steam. “In bigger centres like Vancouver or Toronto, people generally renovate more because
they have a tendency to work with the spaces they have,” he said, explaining that hasn’t always been the case in the Tournament Capital. “That’s starting to change here, though. I think the city is really starting to evolve. “There’s an appetite for renovations now and we’re trying to
fulfill that. “It’s coming back to downtown and people want a bit more integrity in the neighbourhood now.” And, Clarke said, that “integrity in the neighbourhood” is something Hemlock takes seriously. “We’re very sensitive to the
community in the places we build and renovate in,” he said. “When we’re done, we want someone to be able to drive by and think that it’s been there for 30 years.” For more information about Hemlock Construction, visit hemlock-construction.com or call 778-471-0677.
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NEW HOMES
Make sure spring is safe by planning ahead Prepare with safety in mind so you can enjoy the season worry-free Who isn’t eager for spring to arrive? Green grass and warmer weather are certainly things to look forward to. As the season starts to change, the desire to get outside and get to work will get stronger. However, don’t let the temptation to rush into spring activities put you in harm’s way. Spring brings with it plenty of occasions when safety should be top of mind.
Digging in your yard Before you break ground, you must find out what lies below. Natural gas and other utility lines could be buried in your yard. It’s the law to locate buried natural gas lines before you dig. At least one week before starting your project, contact BC One Call at 1-800-474-6886.
They’ll help by co-ordinating with their member utilities to locate underground lines, mark them, and leave a locate sheet providing instructions on how to dig safely.
Firing up the barbecue Hold off throwing the steaks or salmon on the grill until you’ve had a chance to give your barbecue a thorough safety check. The manufacturer’s instructions will guide you on proper maintenance and use for your barbecue. It will likely recommend you clean it and check hoses for cracks and damage. Never use a match/lighter to check for leaks. Instead, brush a 50/50 mixture of soap and water onto the connections and hoses and any rising bubbles will indicate a leak.
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Have any leak repaired before using your barbecue.
Opening your pool Get a jump on pool-opening season by booking an inspection early. It will help you avoid being hot and bothered that you didn’t call a licensed heating, ventilation and air conditioning (HVAC) contractor sooner.
All fuel-burning equipment, including pool heaters, need to be maintained regularly to ensure they continue running safely and efficiently.
In a flood Spring’s melting snow and rain showers dramatically increase the risk of a flood or sewer back-up. Never enter any flooded areas
or attempt to restart your natural gas appliances — including furnaces, boilers and water heaters — until they’ve been inspected by an HVAC contractor. If they’ve come into contact with water, they’re considered unsafe. Always call your local natural gas utility if you suspect flooding has caused damage to your natural gas equipment or appliances.
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March 2013 ❖ C5
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C6 â?– March 2013
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March 2013 ❖ C7
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From Vision to Reality
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NEW HOMES
Expert predicts growth in Kamloops market Economist says home sales will pick up across B.C., and casts doubt on claims Canada’s bubble is due for a burst While 2013 won’t set the Kamloops housing market on fire, the chief economist for the B.C. Real Estate Association says rumours of a coming housing crash are overblown. Cameron Muir delivered an optimistic forecast to homebuilders at the first Sustainable Building and Renovation Forum, held in Kamloops on Thursday, Feb. 7. “I really think 2013 for us here at home is going to be a transition year, both in the economy and the housing market,” Muir said, with “marginally higher” home sales in the Kamloops area and similarly modest price adjustments. But, he expects the market across the province will start to pick back up in 2014 and even
more so in 2015. Muir partially blamed shaky consumer confidence for the flat state of the market, pointing to magazine and national newspaper pieces that forecast a housing market collapse in 2013 as part of the problem. “If there was a housing bubble in Canada don’t you think that would have burst when we have the greatest financial crisis since the Great Depression?” he said. Muir said the theory that drives many pieces on the instability of the market — that house prices are now much higher in relation to household income, and will have to come down — is a “back of the envelope, naive, analytical approach.” While housing prices are higher in relation to incomes than in
Economist Cameron Muir says the housing market in the Tournament Capital will heat up in 2014 and 2015. KTW file photo
the past, Muir said media don’t take into account the historically low interest prices currently on offer. “Lower interest rates have allowed you to buy a more expensive home for the same amount of money,” he said.
He also questioned the idea that Canada is now in the position the U.S. was just prior to its housing crash. The American crisis was fueled by “ridiculous mortgages granted to 21 year olds who’d only ever made $6,000 in the pre-
vious year,” he said. That’s not the case in the Great White North, he said. As consumers start to regain confidence and the economy continues to pick up, Muir said he expects home sales to return to a pre-downturn pace.
2013 starts with a bang in Kamloops Permits up $2.2M over previous January
City hall issued $16.8-million in buiding permits in January, up sharply from 2012’s numbers. KTW file photo
Four big-ticket projects gave Kamloops a boost in the first month of 2013, according to the latest buildingpermit statistics from the city. The city doled out more than $16.8million in permits in January, compared to $14.6 million in 2012. Thompson Rivers University provided the biggest single bump last month, with an $8.6-million permit for interior work on its law building. A $2.2-million John Deere dealership, a $1.1-million mechanical upgrade at the Thompson Hotel and a $1.1million Interior Health Authority lab on Tranquille Road rounded out the month’s top permits. As in 2012, commercial projects made up the bulk of the permit value issue, though city development and engineering
services director Marvin Kwiatkowski said there are a number of multi-family housing projects in the works that should have permits issued in the near future. “There’s quite a few projects that are out there, but the weather’s causing a bit of a delay because it’s a cold winter,” he said. The city issued more than $2.3million in residential permits in the first month of the year, down slightly from $2.9 million in January 2012. Kwiatkowski estimates the city will hand out about $20-million worth of multi-family permits in early 2013. Also on the horizon for the year is a $60-million permit for the new clinical-services building at Royal Inland Hospital.
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NEW HOMES
Kick-start spring with a ďŹ nished basement After a winter of hibernation, spring is the perfect time to consider renovation projects that will help keep your house cool in the coming summer months and reduce energy consumption. An unfinished basement is a source of energy loss in most homes. By simply finishing the space with wall and floor coverings, you will notice a difference on your energy bills. A renovated basement offers more than additional storage and living space — it can provide room for a growing family or a space where you can retreat for some privacy. Insulation is a key component in making your basement look and feel comfortable, inviting and dry. For the best results, install a rigid board insulation (like Roxul ComfortBoard IS) against the concrete foundation
before you stud the wall. The board is mechanically fastened or adhered to the concrete foundation wall, preventing thermal bridging through the studs, offering a higher R-value
and better thermal performance. It will ensure your basement is not a source of energy loss, but rather an inviting retreat all year round.
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Steve Bucher Mortgage Consultant Expert advice, excellent service, exceptional rates 250.682.6077 425 Tranquille Road steve.bucher@migroup.ca www.mortgagebuilder.ca
MORTGAGE INTELLIGENCE
Getting a mortgage pre-approval is a smart move Why should you get a mortgage pre-approval? Getting a pre-approval for mortgage financing before you start to look for a home is a smart move. A pre-approval gives you the edge and confidence when putting offers on homes in areas where buyers are actively competing for properties and provides a clear sense of what price you’re able to pay. A pre-approval generally assures a mortgage rate for a period of 90 to 120 days, leaving lots of time for house hunting, and a locked-in rate means there’s no risk of any rate hikes while shopping for a home. The good news for those who turn to an independent mortgage professional is that an independent mortgage professional may be able to obtain a longer preapproval rate hold.
Information required for a mortgage pre-approval For a pre-approval, the following information (at a bare minimum) is required of the applicant (and co-applicant), but proof isn’t needed until later in the process: Plus, if the rates drop, your rate changes to the new rate. Keep in mind that a pre-approval is not a guarantee of financing, as the property you intend to purchase — along with your supporting information such as income, down payment and employment history — have to meet the financial institution’s criteria to be approved for lending. This information is submitted to the lender so they can make a preliminary decision of qualification, as
well to enable the Mortgage Intelligence mortgage consultant to obtain the pertinent credit files. Credit file information reveals to the Mortgage Intelligence mortgage consultant where most likely your deal can be placed, or more specifically, narrows down the lenders and products that best suit your needs and qualifications. It is important at this point in the process to be completely open regarding any past credit issues. A pre-approval does not
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eliminate the need to make a conditional offer, nor does it take into account closing costs like inspections, legal fees, land surveys, title insurance, property-transfer tax and moving costs, but it does provide some peace of mind. For more information on getting a mortgage preapproval, or for any other mortgage related questions, contact Steve Bucher at Mortgage Intelligence, either by phone at 250-6826077 or by email at steve.bucher@migroup.ca.
• Full legal name(s) • Income(s)
• Social insurance number(s) • Date(s) of birth • History of residence and employment for the past three years • Summary of banking information (accounts, etc) • Summary of information on assets and liabilities • Condo/maintenance fees, if applicable • Purchase price of property and down payment
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