Real Estate Blog

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If you're shopping for a condo, you've likely come across units you've like in buildings with Post Tension Cables (PTC).  You may have also heard concerns, warnings, and stories about them, which makes you question if they are right for you.  Let's take a look at the pros and cons so you can make a confident decision on if they are right for you.



WHAT ARE THEY?


Post-tension cable concrete is a construction method used in condos, parking garages, and also office buildings, bridges, etc. It's a process by which sleeve- covered steel cables stretch along the width of a structure, anchored at either end and encased in concrete. Because the cables add strength to the slab, longer spans are possible, and fewer supports are needed. The benefits are lower construction costs and more design versatility.



WHAT COULD GO WRONG?

Some of the considerations for this construction method are the ongoing maintenance/costs and potential for corrosion and...

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I have listed a new property at 521 19 AV NW in Calgary.
Welcome Home! This upgraded and well-maintained 3 bedroom | 2 bathroom character home located on a quiet tree-lined street in Mount Pleasant is ready for you to call home. The layout is open, well-appointed, and has over 1500 sq ft of total living area. The renovated kitchen has ample counter (granite) space and cabinets for full functionality. It opens to the dining and living rooms that fill with natural light from the wall of front windows and has a gas fireplace as the centrepiece. The full-sized master bedroom has extra windows for lots of natural light and a large closet. And, it is separated from the second bedroom by a renovated 4pc bathroom. The lower level is fully finished (permitted) and complete with a third bedroom, 3pc bath, and rec room. The XL large windows throughout the lower level add to the warm and bright living. You'll enjoy the south-facing and fully landscaped backyard, single oversized garage...
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FTHBI


There seems to be more criticizing than applause, so let's discuss some of the pros and cons so you can decide for yourself if the program is right for you.



WHY?

The Liberal government introduced the FTHBI program in September 2019' intending to make it easier for first-time homeowners to purchase a property and lower the monthly payments through a shared equity mortgage.



THE BASIC 411

  • Canada Mortgage and Housing Corp (CMHC) administers the program that offers qualified first-time home buyers a 10 % shared equity mortgage for a newly constructed home, 5 % existing homes home in exchange for an equity stake. Consider the Incentive as a second mortgage.
 
  • The Incentive must be paid in full when the property is sold, after 25-years, if you are buying out the co-borrower, porting your mortgage, or there is a change in use.
 
  • A qualified buyer can withdraw funds from an RRSP to purchase or build a home without...
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This is one of the most common questions I receive, so let's talk about the pros and cons so you can decide for yourself.



OLD SCHOOL 

Once upon a time, Open Houses were effective selling tools because it was one of the few ways buyers could see properties, so they increased the home's marketing exposure. However, technology has drastically changed how buyers shop for their new home now; in fact, statistics show that less than 4% of buyers attend.



THE NEW WAY TO SHOP

With the latest viewing tools, buyers have full exposure to property details, an endless number of still and panoramic photos, videos, 3D tours, conveniently available 24-7, and from anywhere and at their convenience.

Because there is so much information available now, one could consider online viewings to be the buyer's first showings. After researching the property, if buyers are interested in a walk-through, they will book a private showing with the listing...

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HOW THEY COULD AFFECT YOU


Changes have been made to Alberta's condominium legislation, and it seems more are on the way. As for the recent revisions enforced as of January 1, 2020, CCI (Canadian Condominium Institute) worked directly with the Government of Alberta. The goal for the new legislation was too...


“significantly improve the lives of condominium owners, boards, and industry members. These changes will help simplify condominium governance for volunteer boards, especially regarding voting procedures, conducting AGMs efficiently, and clarifying the insurance claims process.”



SOME KEY AMENDMENTS 


  • The Board can issue "chargebacks" to owners deemed responsible for the damages without having to go to court. This new legislation takes some of the burdens off bystanders.
 
  • The Bylaws will stipulate the offenses and fees. Regulations cap the fines up to $500 for a first infraction, $1,000 for subsequent violations...
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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.

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