budgeting Archives - Flipside Homes

11 signs your property is ready for a Vancouver home renovation

14 02, 2020

11 signs your property is ready for a Vancouver home renovation

By Vaughn at Flipside Homes|2020-02-24T12:27:25-08:00February 14th, 2020|Renovation Tips|

It can be tough to know when your property is in need of a Vancouver home renovation. There are some key signs that industry professionals look for. We’ve outlined these signs in this blog so that you can do a professional-level review of your property to decide whether it is in need of a renovation. 11 signs it is time for a Vancouver home renovation 1. Your property has structural issues Inspect your home for clear signs of structural issues, including cracks in the foundation or basement walls, sagging floors, roof or ceilings, gaps where your floors and walls meet, bowing walls, or cabinet doors that often swing open on their own. Leaks and rot are also signs that structural damage might be present or is on its way. In the case of structural damage, it is vital to renovate

8 common home renovation myths

17 01, 2020

8 common home renovation myths

By Vaughn at Flipside Homes|2019-12-17T16:11:55-08:00January 17th, 2020|Renovation Tips|

There are a number of home renovation myths that are floating around. While some of them are benign, others can lead to big trouble if you believe them. That is why you need to read this myth-busting blog before starting any Vancouver home renovation. Vancouver home renovation myths… busted! 1. Permits are optional This is one of the most dangerous Vancouver home renovation myths out there. That is because people can start their renovations thinking they do not need permits when nothing could be further from the truth. In reality, you always need to have permits. These are not optional – and not getting them could lead to fines or Stop Work Orders. 2. Whatever money I spend on remodels I will get back when I sell Not all remodels add value or enough value that you will get the

The pros and cons of buying an income property in Vancouver in 2019

18 10, 2019

The pros and cons of buying an income property in Vancouver in 2019

By Vaughn at Flipside Homes|2019-10-02T16:59:23-07:00October 18th, 2019|Investment Properties|

With Vancouver's real estate market returning to "more typical levels", now may be the time to consider investing in an income property. Not sure if buying an income property in Vancouver is right for you? We have put together some pros and cons to help you decide. The pros of buying an income property in Vancouver 1. Predictable monthly income An income property in Vancouver can be a reliable source of revenue as long as you have tenants in the home. Who would not want to make additional money every month? The best part is that when you are done with your income property, you can always put it back on the market. 2. Increasing property values Property values are generally trending up. That means if you can buy the right property at the right price, you are going to

What not to do during your Vancouver home renovation

16 08, 2019

What not to do during your Vancouver home renovation

By Vaughn at Flipside Homes|2019-05-27T17:32:20-07:00August 16th, 2019|Renovation Tips|

A Vancouver home renovation can be exciting and fun. It is a chance to give your home a facelift and make it feel new. On the other hand, renovations can go horribly wrong. The best way to avoid the latter situation is to know what not to do. That is why, today, we are tackling what you should never do during your home renovation. Twelve things not to do during your Vancouver home renovation 1. Hire a contractor without vetting them You have to put a lot of trust in the contractor who handles your Vancouver home renovation. Given that, it is important to make sure you get the right person to handle the job. The only way to ensure that is to properly vet the contractors you are considering. Research them, look at portfolios, and check references. While this

How to price the rent for your Vancouver income property

12 04, 2019

How to price the rent for your Vancouver income property

By Vaughn at Flipside Homes|2019-01-25T14:09:29-08:00April 12th, 2019|Investment Properties|

Before buying any Vancouver income property, you need to look at the rent you could charge. Would you be able to cover your expenses? Or make a profit? Figuring this out will allow you to assess if you should buy a certain Vancouver income property. Not sure how to make this assessment? Today we will teach you the way to do it! The costs of your Vancouver income property The first element you need to look at in relation to your potential Vancouver income property is expenses. Make a list of all the expenses you need to consider. Here are a few items to get you started… 1. Down payment Think about the size of the down payment you will be making. Remember that the more you put down, the smaller your mortgage will be. 2. Mortgage How much will

Horrible Vancouver home renovation advice that you should never listen to

12 10, 2018

Horrible Vancouver home renovation advice that you should never listen to

By Vaughn at Flipside Homes|2018-09-23T21:57:49-07:00October 12th, 2018|Renovation Tips|

There are a lot of articles online giving Vancouver home renovation advice. But is all that advice good – or even safe? Absolutely not! The internet includes great tips about renovations, but also some advice that should not be implemented! With that in mind, here is the Vancouver home renovation advice you should never listen to. The worst Vancouver home renovation advice – and why you should not listen to it 1. Cheap materials can be made to look luxurious You’ll often read blogs that suggest cheap materials can be made to look high-end. They often put the responsibility on homeowners, saying that these items just need the right treatment or design aesthetic to appear luxurious. Then, when the look does not work out, we often see the homeowners blaming themselves. We’re here to tell you: You are not the

5 home renovations in Vancouver that don’t add value to your home

15 06, 2018

5 home renovations in Vancouver that don’t add value to your home

By Vaughn at Flipside Homes|2018-05-22T11:46:59-07:00June 15th, 2018|Renovation Tips|

Home renovations can be a great way to add value to your property in Vancouver. Not all home renovations are created equal though. Here are five home renovations to avoid as they do not add value to your home… 5 home renovations in Vancouver that do not add value to your home 1. Solar panels Solar panels – and other forms of green upgrades – can be a great way to save money on your bills, paying for themselves many times over. If you are renovating to rent or sell your home, though, green upgrades usually are not a way to add value. Unfortunately, adding solar panels to a home is not on most buyers’ must-have lists. 2. Swimming pools If you are in LA, sure, add a pool! In Canada, however, a swimming pool can seem like more trouble

How to choose the right neighbourhood for your investment property

8 06, 2018

How to choose the right neighbourhood for your investment property

By Vaughn at Flipside Homes|2018-05-22T11:47:13-07:00June 8th, 2018|Investment Properties|

When home hunting, renters and buyers tend to look at the neighbourhood that appeals most to them. However, when shopping for an investment property, there are a certain set of qualities to look for in the neighbourhood where you will buy in order to get the best return on your investment. What you should look for in a neighbourhood for your investment property 1. What does this neighbourhood offer? If you plan on renting out or flipping a property, amenities could be the factor that makes or breaks a deal. Therefore, you want to make sure you look into what each neighbourhood has to offer. Think about what would appeal to the kind of renter or buyer you are hoping to attract. For example, if you are purchasing an investment property by a university, you want to look amenities that

8 mistakes people make during their home renovation in Vancouver

1 06, 2018

8 mistakes people make during their home renovation in Vancouver

By Vaughn at Flipside Homes|2018-05-22T11:47:22-07:00June 1st, 2018|Renovation Tips|

Here at Flipside Homes, we see and hear about a whole range of mistakes people have made with previous home renovations. In fact, we’re often brought in to fix these mistakes! Every time that happens, we talk about how great it would be if people knew the most common mistakes – and how to avoid them. So we have put that list together for you! The 8 most common mistakes people make during their home renovation in Vancouver 1. Not having clear priorities Before starting your home renovation in Vancouver, you want to make sure you have clear priorities. Without these priorities, it can be easy to get swept away in the excitement of the renovation, losing your focus… and maybe not finishing the work you originally intended to have done. For the best result, check in about your priorities

Buying an income property in Vancouver? What you need to know first

18 05, 2018

Buying an income property in Vancouver? What you need to know first

By Vaughn at Flipside Homes|2018-04-24T13:11:46-07:00May 18th, 2018|Investment Properties|

With rental prices skyrocketing, it is the perfect time to have an income property in Vancouver. Having an income property in Vancouver, however, is not as simple as just buying a home or condo and renting it out. So what do you need to know before purchasing an income property? What you need to know before purchasing an income property in Vancouver 1. Rental laws It is important that you review the rental laws that govern your income property in Vancouver. These include laws related to the property, as well as those governing your rights and responsibilities as a landlord. To best protect yourself, consult with a real estate lawyer to review all relevant laws before you purchase an income property. 2. Regulations around short-term rentals This is especially important now as there are a number of new regulations governing