Let's face it: Unless you're a minimalist, moving is one of the biggest household tasks there is and it can be extremely overwhelming. But if you can get a head start and stay organized, you should make it through this mammoth process unscathed and ready to enjoy your new abode. Here are 21 tips to help you avoid moving day chaos.

1 GET ORGANIZED EARLY

Avoid leaving anything until the last minute. Unless you have to pack up and leave in a hurry, chances are you have between 30 and 60 days to make a plan and ensure that moving day runs smoothly. Create a countdown list and itemize everything you need to accomplish week by week.

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2 FIGURE OUT YOUR MOVE STRATEGY

How are you going to get from point A to point B on moving day? For shorter moves, you'll either need to assemble some very nice friends with trucks or consider renting a truck for the day. If you have a big family to move or you'll be moving a long distance, you'll want to price out moving companies.

3 KEEP YOUR MOVERS IN THE LOOP

Boxes are one thing, but when you get to the big, heavy stuff, it's important to let your movers know what to expect. "Communicate with your moving company and explain all the requirements and expectations prior to booking," advises Andrew Ludzeneks, founder and current president of iMove Canada Ltd. "Your mover has to be aware of all those minor details in order to estimate your total move time and cost, and have proper equipment available." That includes informing the company about any overweight items (i.e. a piano or fridge), access restrictions (small elevator, walk-up only, narrow driveway) and whether you’ll need help with disassembly or assembly of furniture.

4 PICK THE RIGHT TRANSPORTATION

If you're moving a short distance, you may be able to get away with making more than one trip. But if you don't have that luxury, you'll need to make sure you have the right size of truck to cart your belongings in one go. "Choosing the right size is particularly important when moving farther away, as making several trips could be a problem," says Andrew, who recommends using the following guidelines when determining the size of your truck:
 
•    In general, the contents of bachelor and one-bedroom apartments will fit in a 16' cube truck available at your local rental company.
•    Two to three fully furnished bedrooms will require a 24'-26' truck to ensure your move is completed in one load.
•    The contents of most houses can be moved in the same 24' truck with one or two trips.

5 SEIZE THE OPPORTUNITY TO PURGE

Moving is a great chance to organize your belongings and get rid of items you no longer use. If the time of year permits, hold a yard sale. Or, take the time to sort and donate gently worn clothing to Goodwill, put furniture up for sale on a site like craigslist.org, recycle old magazines and catalogues and shred old documents.

6 PUT TOGETHER A PACKING KIT

If more than one person is packing, stay organized by establishing a system. Have blank inventory sheets prepared so one person can tackle each area or room. Arm each packer with a pen, black marker, and packing materials, like newspaper, a packing tape dispenser and boxes.

7 GREEN YOUR MOVE

Moving day can generate a great deal of waste like cardboard, bubble wrap and newspaper. For items you’ll be storing even once you’ve moved in, opt for the reusable plastic bins you can purchase at stores like Home Depot or Solutions. These can be labeled to go directly into closets until you’re ready to deal with the contents. You can avoid cardboard for the rest of your belongings, too, by renting plastic bins from a company like Blue Bins Unlimited. You might also consider using older linens to wrap breakables.

8 REUSE BOXES

You may still need a few cardboard boxes to round out your moving kit. A few weeks before you start packing, grab a few each time you visit the grocery store. Keep in mind that smaller boxes are easier to carry when facing stairs and narrow pathways, says Andrew.

9 TAKE INVENTORY

This is especially necessary if you’re hiring a moving company. Having a record of your household items is useful if something goes missing. Consider keeping a spreadsheet of the contents of each box. Then, assign each box a number and all you have to do is write that number on each side (maybe with the appropriate room listed, as well).

10 LABEL EVERYTHING!

Label all sides of the box (avoid the top). Whoever is carrying in your boxes might not make sure all labels are facing one way for your easy retrieval. Try labeling each side in marker so you can easily find what you need in a stack.

11 FIND OUT YOUR CONDO RULES

Moving into a condo isn’t as easy as pulling up to the front door and loading your boxes onto an elevator. Be sure to check the moving policy before scheduling your moving day. For example, some condos don’t allow move-ins on Sunday. According to Andrew, you may need to book a service elevator and a time frame for moving in. “On most occasions, your condo will ask for a security deposit in order to book a service elevator. That can range from $100 to $500 depending on your condo rules.”

12 PACK IN THINGS YOU NEED TO PACK

You need to take your luggage with you. Why not use it as a box? The same goes for dresser drawers. You may need to remove them for transport, but if you don’t have too far to go, they can be helpful for light items. “For delicate apparel that you don't want to fold, using a portable wardrobe box is the way to go,” recommends Andrew.

13 PREPARE A MOVING DAY KIT

Keep one box aside of “essentials” that you’ll need on moving day: cleaning supplies, light bulbs, toilet paper, garbage bags, a change of clothes, your toiletry bag, etc.

14 BE READY FOR YOUR MOVERS, WHETHER HIRED OR FRIENDS

Whether you have family or professional movers showing up at your door, be ready for them when they arrive. With a moving company, unless you hire packers, be ready and packed before the crew arrives, advises Andrew. “Scrambling for boxes will delay your move and increase your cost.”

15 PROTECT YOUR VALUABLES

Find a safe place to store your valuables on moving day. Insure anything that’s valuable or breakable if you’re using a moving company. And if you’re moving a computer, do a quick backup of important files just in case something happens in transit.

16 DELAY DELIVERIES

If you’ve made some new purchases, such as a couch or dining room suite, schedule the delivery after moving day. That will help you focus your attention on moving day itself and will avoid any congestion between delivery people and the movers.

17 DON’T MISTAKE BELONGINGS FOR TRASH

Try to avoid packing things in garbage bags. Well-meaning friends or family could accidentally throw them out on moving day.

18 HOOK UP ESSENTIAL SERVICES

Make sure you understand how utility bills (gas, water, electricity) will be transferred over to you from a previous owner. Also, arrange to have your phone line, cable and Internet working if necessary.

19 FIND A PET SITTER FOR THE DAY

If you have a pet that could be traumatized by a move, arrange to have them stay somewhere during moving day. If you’re hiring movers for a long-distance move, be sure to arrange your pet’s safe transport to your new home.

20 MAKE NICE WITH YOUR NEW NEIGHBOURS

Start off on the right foot by informing your immediate neighbours that you’ll be moving in and what kind of moving vehicles you’re using. If you’re moving on a weekday, make sure your truck isn’t blocking anyone’s exit. If it’s wintertime, clear your driveway of snow and ice, says Andrew. “Make sure there’s plenty of room to park the moving truck. That’s essential on busy streets otherwise you could slow down your move … increasing your total cost.”

21 TREAT YOUR MOVERS

Whether hired movers or friends and family, be sure to have food and drinks readily available for everyone. “On a hot summer day, your crew will appreciate a cold drink,” says Andrew.

Royal LePage is updating its price forecast for 2023 following a stronger-than-expected start to the year. 

In a report released Thursday, Royal LePage is forecasting home prices in Canada will increase 4.5 per cent year-over-year in the fourth quarter of 2023, a steep increase from the company’s December prediction that the national aggregate home price would end the year one per cent below Q4 2022. 

On a quarter-over-quarter basis, Royal LePage expects prices to continue rising modestly but steadily over the next nine months.

“Coming out of a correction, it is common to underestimate the speed at which the market will turn itself around. As market activity is rebounding quicker than anticipated, we are looking ahead with a sense of cautious optimism,” noted Phil Soper, CEO, Royal LePage. 

“While we do not expect huge price gains this year, some sense of normalcy is returning to the market.”

Source: Royal LePage

Canadian market begins to recover after downturn

The Royal LePage House Price Survey showed that home prices in Canada decreased by 9.2 per cent year-over-year to $778,300 in Q1 2023. 

However, there has been a 2.8 per cent quarter-over-quarter increase following the Bank of Canada’s decision to pause interest rate hikes, which prompted many buyers to return to the market. 

“We have turned the corner, and the housing economy is growing again; none too soon for many buyers, who have been waiting patiently for prices to bottom out,” says Soper.

The national median price of a single-family detached home fell 10.7 per cent year-over-year to $808,700, while the median price of a condominium fell 6.7 per cent year-over-year to $571,700. Quarter-over-quarter, median prices rose for these two property segments by 3.4 per cent and 1.8 per cent, respectively.

“Sanity is slowly returning to the housing market,” added Soper. “While some buyer hopefuls will remain sidelined by a reduced capacity to borrow in this higher rate environment, our market data shows that many of those who chose to pause their search to see where prices and interest rates would land have resumed their home buying plans.”

While sales have been trending upward since the start of the year, the number of listings remains too low to satisfy demand. 

Source: Royal LePage

Soper explains that the challenge now is the severe supply shortage: “We are grappling with a growing problem here that once was the burden of our largest cities but is increasingly being felt in secondary markets as well.”

He adds, “Yes, governments are adopting policies intended to address the problem, yet the pace of progress is far from encouraging. And challenges facing developers—such as the increased cost of materials and labour, and a shortage of skilled tradespeople— persist.”

Public policy

The report notes the Office of the Superintendent of Financial Institutions’ (OSFI) proposed changes to Canada’s mortgage stress test that would impose more restrictive access to mortgage financing in an effort to mitigate risk for major banks against potential consumer default. 

However, Soper warns against tightening restrictions in an environment where rates are high and likely to fall. He believes such a move could do more harm than good, forcing families into the unregulated B-lender market. 

“Despite a year of rapidly-rising interest rates, we see that the number of Canadian homeowners who have failed to meet obligations to their financial institution remains exceptionally low,” Soper says. “Our banks have managed their mortgage portfolios well, and it helps that unemployment is very low.”

B.C.’s Home Buyer Rescission Period 

Royal LePage says British Columbia’s newly-implemented Home Buyer Recission Period (a cooling-off period that allows buyers to rescind an offer within three business days of fan APS being signed) has not “proven to be useful.” 

“Few B.C. buyers are exercising their right to use the cooling-off period the way it was intended—to allow them an ‘out’ after a rash decision to purchase a property. 

“Unfortunately, we are seeing people blatantly abusing the program by making offers on multiple homes as they shop around, locking up scant housing inventory as if clothing in a retail store. The legislation is harmful, not helpful, and should be amended or scrapped.”

Interest rates

The Bank of Canada’s made the decision Wednesday to maintain its overnight lending rate at 4.5 per cent and has indicated it will continue to main the rate if inflation continues to come down. 

“This was the signal that so many Canadians were waiting for. The Bank of Canada’s rate hold was the green light that stability is returning to the market, and it has had a swift and significant impact on buyer demand,” said Soper.

According to a recent survey by Royal LePage, found that one in four Canadians was in the market for a new home over the last year, and rising interest rates caused 63 per cent of them to postpone their plans, but 26 per cent of those planned to resume their search this spring and another 36 per cent said they would return to the market in the near future once the central bank paused rate hikes for several consecutive months. 

Read the full report from Royal LePage, including regional breakdowns, here.

Listed at $679,900

Welcome to the Castle Mount.

Fabulous view from this top floor, corner unit. I

t feels bigger than the 1350+ sq ft, with its large windows, 3 sliders & vaulted living room ceiling.

Enjoy entertaining on the two decks & watching the tugs go by on the Fraser River.

Living room & family room share a 2-way gas fireplace.

Dining room is perfect for family dinners. A large kitchen with plenty of cabinets + eating area.

Large primary suite will accommodate all your bedroom furniture. Primary bath with soaker tub.

Second bedroom has sliders to one deck. Main bath have large walk-in shower.

Laundry room for extra storage. Freshly painted. Easy care flooring. One parking + one locker.

This building requires all residents to be 55+.

OPEN HOUSE 1-3pm Sat April 15th & Sun April 16th. See you there!

When it comes to putting money away to buy their first home, the federal government’s ‘tax-free in, tax-free out’ First Home Savings Account aims to give Canadians a helping hand.

As of April 1st, Canadians aged 18 or older who are purchasing their first home are eligible to enroll in a tax-free First Home Savings Account (FHSA). Introduced in the 2022 federal budget, the FHSA combines elements of a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP), allowing users to make tax-deductible contributions and tax-free withdrawals from the account for the purposes of saving for a home. 

Am I eligible for the FHSA?

In order to open an FHSA, users must be at least 18 years old and a Canadian resident. Account holders must also be a first-time homebuyer — someone who has not owned a home and lived in it during the calendar year before the account is opened, or at any time during the prior four calendar years. 

An FHSA can be used for a maximum of 15 years, and stay open until December 31st in the year that the account holder turns 71 years old. Users cannot contribute to their spouse or common-law partner’s FHSA. 

How much can I contribute to my FHSA?

FHSA holders can contribute an annual maximum of $8,000 into their account, with a lifetime contribution limit of $40,000. Unused contribution room can be carried over to the next year up to a maximum of $8,000. Carry-forward amounts start accumulating after the user opens the FHSA for the first time. Only the account holder can claim an income tax deduction for contributions made in a particular taxation year.

It is possible to have more than one FHSA open at a time, but the total amount that an individual can contribute to all of their FHSAs cannot exceed their annual and lifetime contribution limits. Similar to a TFSA, a 1% tax is applied on over-contributions to an FHSA for each month that the excess amount exists in the account. 

What are the benefits of the FHSA?

An FHSA marries together the concepts of a TFSA and an RRSP in one account.

Contributions to an FHSA, like an RRSP, are tax-deductible. Additionally, any withdrawals made for the sake of purchasing a home are non-taxable, similar to a TFSA, including any investment growth. Users can take advantage of a series of qualified investments in their FHSA, including mutual funds and publicly-traded securities, plus government and corporate bonds. Users can also set up a self-directed FHSA to manage their own portfolio.

What happens when I want to take money out of my FHSA?

If a user wants to withdraw funds from their account, there are a few things to keep in mind.

The account holder must be a first-time homebuyer at the time a withdrawal is made. The qualifying home must be acquired (or construction must be completed) no more than 30 days prior to the withdrawal, and before October 1st of the following year, with the intention of occupying the property as their principal residence within one year after acquiring it. Be sure to read carefully the definitions of a first-time homebuyer and a qualifying home. 

If you wish to transfer money out of your FHSA to another account, you can do so to another FHSA, an RRSP or a Registered Retirement Income Fund (RRIF). Be sure to close your FHSA on or before December 31st of the year following your first qualifying withdrawal, when your participation period concludes.

To learn more about the First-Home Savings Account, visit Canada.ca. 

Hello BC REALTORS^®,

On April 3, Premier David Eby and Minister of Housing Ravi Kahlon released their housing action plan, “Homes For People.” While much of the plan involves many previously announced commitments and plans, there are also new areas of commitment for the provincial government. Below is a summary of new policies announced in the plan. 
 

Housing Supply 

There are three significant announcements impacting housing supply, outlined below. 

Firstly, in the fall, the province will introduce legislation that will apply to many areas of the province and will allow more Missing Middle (three or four units) on a traditional single-family detached lot, depending on the size or type of lot. The legislation will also allow for additional density permitted near large transit centres. The BC Government will work with municipalities and stakeholders on these inclusionary zoning processes. 

We don’t have specifics at this time, but we know that the BC Government is looking at New Zealand’s Medium Density Residential Standards, the State of Oregon's missing middle development, and the State of California’s Home Act to inform their upcoming policy. 

Secondly, in addition to the Missing Middle legislation, legislation will be introduced later this year to make secondary suites allowed in every community in BC. Beginning in early 2024, homeowners will be able to access a forgivable loan of 50 per cent of the cost of renovations, up to a maximum of $40,000 over five years. The loan can be forgiven if the homeowner meets all conditions laid out in the program, including renting their unit out at below market rates for a minimum of five years. The pilot is expected to be open to at least 3,000 homeowners for the first three years. 

The third significant announcement impacting housing supply is implementation of the Housing Supply Act, which was brought into force in fall 2022. This Act allows the province to set housing targets and support engagement with select municipalities. By mid-2023, housing targets will be established in approximately eight to ten municipalities that are identified as having the greatest housing need and highest projected growth, building on existing requirements for local governments to create Housing Needs Reports that identify housing demands and supply factors.  

These three announcements have the potential to be important changes that could add significantly to housing supply. BCREA has been advocating for more Missing Middle housing options across the province for a long time and we will continue to ask for adequate consultation and a permanent housing roundtable to ensure that this policy is well-implemented.  
 

Development Process, Permitting and Approvals 

In 2023, a newly dedicated single window application process will be launched for all housing-related permits overseen by the province. This is intended to speed up the process and eliminate the need for multiple applications across ministries. The new permitting model will focus on prioritizing housing projects that we need built urgently, such as Indigenous-led projects, BC Housing applications, and multiple-unit developments. These improvements will complement recommendations in the Development Approvals Process Review. 

Housing Demand 

The BC Government will introduce a tax on the proceeds of property sales based on how soon they happen after the initial purchase. We do not have any more details about the tax at this time, but the Flipping Tax is likely to be redundant with the pre-existing federal anti-flipping tax rule implemented as of January 1, 2023 that treats the proceeds of homes sold in under one year as business income. BCREA will continue to advocate to ensure that the Flipping Tax has exemptions for additions to the household such as birth or adoption, the breakdown of marriage or common-law partnerships, illnesses or disabilities, work relocation, insolvency, and other necessary reasons for families to move.   

The province will also consider expanding the Speculation and Vacancy Tax (SVT) to more areas with low vacancy rates and stepping up efforts to improve compliance. Expanding the SVT is unlikely to have an impact on affordability. BCREA’s Market Intelligence report from 2020 estimated the impacts of the tax. The SVT had negative impacts on home sales and prices but the impacts were temporary and appeared to be limited to Metro Vancouver. Within Metro Vancouver, it is difficult to disentangle impacts of the SVT on the rental market with impacts from the Empty Homes Tax and short-term rental regulations that were implemented around the same time. In January 2023, the SVT was expanded to include North Cowichan, Duncan, Ladysmith, Lake Cowichan, Lions Bay and Squamish. We do not expect that expanding the SVT to those communities or to additional communities will have a meaningful impact on housing attainability.  

Anti-Money Laundering

No specifics were announced on anti-money laundering measures, apart from general commitments to combatting criminal activity in the real estate market with a number of measures, including through unexplained wealth orders and new partnerships with the federal government. 

Labour 

The province will create a Future Ready Plan, to be released in spring 2023, to connect more people to the relevant skills and training they need to quickly find and advance their careers in the construction sector.  

Rental Housing 

The province announced several new policies to impact rental housing including:  

• exploring new opportunities and ways to build new rental buildings, as well as expanding and maintaining existing purpose-built rental buildings, 

• making the renter’s tax credit permanent. This annual $400 income-tested tax credit for a renter household that makes less than $60,000 per year. Renter households that earn between $60,000 and $80,000 annually will receive an income-tested amount, 

• increasing funding for the BC Rent Bank that provides interest-free loans and grants to renters in BC with low to moderate incomes, and 

• mandating more data-sharing by short-term rental platforms. 

Affordable Housing 

New affordable housing announcements include: 

• $394 million as an initial investment to help deliver up to 10,000 units at or near transit over the next 10-15 years, 

• Creating more subsidized rental homes through an expansion of the Community Housing Fund, 

• Doubling the number of homes delivered through the Indigenous Housing Fund, 

• Doubling the number of homes delivered through the Women’s Transition Housing Fund, 

• More on-campus rooms for post-secondary students, 

• Work with co-op stakeholders and other partners to re-invigorate the co-op housing sector, including leveraging federal and provincial funding streams, addressing the issue of upcoming lease expirations, and examining new ways to grow the sector, and 

• A new homelessness framework. 

•  

Spring brings renewed price growth across Metro Vancouver’s housing market while new listings remain dormant

Home prices across Metro Vancouver’s housing market showed modest increases in March, while new listings remained below long-term historical averages.  

March data also indicates home sales are making a stronger than expected spring showing so far, despite elevated borrowing costs. 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,535 in March 2023, a 42.5 per cent decrease from the 4,405 sales recorded in March 2022, and 28.4 per cent below the 10-year seasonal average (3,540). 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,143,900. This represents a 9.5 per cent decrease over March 2022 and a 1.8 per cent increase compared to February 2023. 

“On the pricing side, the spring market is already on track to outpace our 2023 forecast, which anticipated modest price increases of about one to two per cent across all product types,” Andrew Lis, REBGV’s director of economics and data analytics said. “The surprising part of this recent activity is that these price increases are occurring against a backdrop of elevated borrowing costs, below-average sales, and new listing activity that continues to suggest that sellers are awaiting more favorable market conditions.” 

There were 4,317 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2023. This represents a 35.5 per cent decrease compared to the 6,690 homes listed in March 2022, and was 22.3 per cent below the 10-year seasonal average (5,553). 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,617, an 8.1 per cent increase compared to March 2022 (7,970), and 17.3 per cent below the 10-year seasonal average (10,421). 

Across all detached, attached and apartment property types, the sales-to-active listings ratio for March 2023 is 30.7 per cent. By property type, the ratio is 23.3 per cent for detached homes, 36.7 per cent for townhomes, and 34.9 per cent for apartments. 

Analysis of historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. 

“If home sellers remain on the sidelines, monthly MLS® sales figures will continue to appear lower than historical averages as we move toward summer,” Lis said. “But it’s important to recognize the chicken-and-egg nature of these statistics. The number of sales in any given month is partially determined by the number of homes that come to market that month, along with the inventory of unsold homes listed in previous months. With fewer homes coming on the market, homes sales will remain lower than we’re accustomed to seeing at this point in the year, almost entirely by definition.” 

Sales of detached homes in March 2023 reached 734, a 43.6 per cent decrease from the 1,302 detached sales recorded in March 2022. The benchmark price for detached properties is $1,861,800. This represents an 11.2 per cent decrease from March 2022 and a 2.7 per cent increase compared to February 2023. 

Sales of apartment homes reached 1,311 in March 2023, a 43.2 per cent decrease compared to the 2,310 sales in March 2022. The benchmark price of an apartment property is $737,400. This represents a 4.6 per cent decrease from March 2022 and a 0.7 per cent increase compared to February 2023. 

Attached home sales in March 2023 totalled 466, a 37.3 per cent decrease compared to the 743 sales in March 2022. The benchmark price of an attached unit is $1,056,400. This represents a 7.8 per cent decrease from March 2022 and a 1.7 per cent increase compared to February 2023. 

Download the March 2023 stats package.