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Micro Homes

Would you buy a 100 sq.ft home?

I came across an interesting article...

Vancouverites who can’t afford to rent let alone buy a tiny condo just might be able to break into the real estate market if the latest micro-living design takes off. Local company Nomad Micro homes has designed 100 square-foot micro homes that it plans to sell starting at $25,000.
Complete with kitchen, bathroom, stairs, living and sleeping areas, these shed-sized structures will be manufactured in B.C. and come in a box to be assembled at home.
For an extra few thousand bucks, people can upgrade to add solar energy, rainwater collection and grey water treatment.
Assembly requires two people with basic handyman skills. To access water and electricity, owners simply have to hook up the micro home to a garden hose and plug it in.
Buyers can choose between composting and flush toilets, but the second will require a hook-up to an adjacent home, a septic field or the sewer system.
Of course, people will still need to find a place to plant their micro homes.
The company’s goal is to provide affordable and sustainable housing for “hard-working individuals who can’t make ends meet due to the high cost of living,”

To read the full article go to ; http://metronews.ca/news/vancouver/840294/would-you-buy-a-100-square-foot-micro-home-for-25k/

Tibor Bogdan
Landmark Realty


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What is a pre-sale?

Example scenario: When the developer intends to build an apartment building and applies for financing, the bank will grant financing under certain conditions. One of them will likely be a certain percentage of pre-sales the developer will need to secure before receiving the funds.
It is common practice for a developer to approach several real estate investors and offer them an opportunity to purchase units of the non-existent building at a discounted price, and on good terms.

Once the number of pre-sales is accomplished, the developer goes ahead with the construction, which will likely take two years or longer to complete. During construction, their marketing team offers the remainder of the units for sale at market value to the public.

If you are a RE investor, you know that it is preferable to be buying at the pre-sale prices, not market value prices.

The question is, how do you get the invitation to buy a pre-sale?
In the past many years, investors have made substantial income by buying at wholesale prices and selling at retail prices even before they needed to complete their purchase. I saw many of them lining up and sometimes even camping overnight in front of the sales center to get a chance to buy at lower prices, but not everyone was lucky enough. You needed to be well-connected to get an opportunity, and you had to act fast.

Today is a bit of a different story. Several projects in the Lower Mainland and Fraser Valley offer really good prices and incentives to secure a unit now and complete the purchase two or three years later. The list of incentives varies from one project to the next. Besides attractive prices, you can get low deposit amounts (5-15%), low or no assignment fees, free updates, a mortgage rate buy-down program, extra parking and more.

A month ago, I helped a few of my clients purchase a presale in Surrey that sold out in 2 days, and I know of another good developer that will be offering a few units for sale as well.

If you would like to know more about these opportunities, I would encourage you to call or email me, and I’ll be happy to send you details on those projects.
Kind regards,
Tibor Bogdan
Century 21 Creekside Realty Ltd.
45428 Luckakuck Way #190, Chilliwack, BC V2R 3S9
cell: 604-855-2521
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