We've outlined "green" location decisions in our previous blog which can be viewed here: Ways to Save $$$ with Location Decisions

Once you have chosen a location and narrowed down your housing choices to *the* one, you have to think about financing options. Lucky for you, most financial institutions offer "green" mortgages. Making eco-friendly decisions will save the environment and some money while you're at it.

[1] Bank of Montreal Eco Smart Mortgage

This is a five-year fixed closed mortgage that rewards you for planning to purchase or already owning a home with energy efficient features. Members are qualified for a great rate when they apply under a BMO representative. This mortgage features prepayment options that will allow you to pay down your mortgage faster and reduce your interest costs. Have peace of mind in knowing that your mortgage rate will not rise during the term.

For additional information, check out the BMO Eco Smart Mortgage.

[2] RBC Energy Saver Mortgage

If eligible, you could receive a $300 rebate on a home energy audit. What exactly is a home energy audit? It is a report assessing your home's major heating and cooling systems. A licensed professional will be able to make recommendations as to how you can improve your home's energy efficiency and lower your energy costs.

For more details on energy and money saving tips, visit RBC's Energy Saver Mortgage.

[3] Vancity's Bright Ideas Home Renovations

Making energy-efficient renovations has its advantages, both economically and environmentally. With these renovations, you can increase your home's re-sale value by having an energy efficiency rating which informs buyers that your home is more energy efficient. You will also be able to improve the efficiency of your home in the short and long-term. These renovations translate into cost-savings by offering you a personal loan at prime + 1% rate for up to ten years. Mortgage rates are low and the payment options are flexible! 

More details can be found here: Vancity's Bright Ideas Home Renovations

[4] Pay-as-you-Save (PAYS) Financing Model

Innovative programs are being launched to help home owners and businesses leverage home renovations for energy efficient improvements. This financing model spreads out the cost of the renovations over a substantial period of time in which the energy savings from said renovations will help pay for the financial loan through BC Hydro or FortisBC. 

Further details can be found here: PAYS Financing Model

Contact us today if you have any questions and we'll be more than happy to assist you in any way possible. E-mail us at info@wesellvancouver.ca or give us a ring at 604-801-6654.

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In today's time and age, location is definitely key, especially in Metro Vancouver. Choosing where to live includes various factors and we'll shed light on some ways to save money by being environmentally conscious about your choice of location.

First off, situate yourself in "green" neighbourhoods. What we mean by that is, look at properties that are in close proximity to work, school, shopping, community centres and other services. In doing so, the commute to these areas take up less fuel and subsequently, are easier on your wallet and the environment.

Another suggestion is to situate yourself in a transit-oriented area. Nowadays, many neighbourhoods are being built with transit as their focus. There is a shift towards shared driving or utilizing Car2Go as there has been a reduction in car ownership in Vancouver.

Choosing a walkable neighbourhood will offer health, environmental , financial and community benefits. Take a look at WALKSCORE to calculate the walkability score of your neighbourhood.

Contact us by e-mail at info@wesellvancouver.ca or by phone at 604-801-6654 if you have any questions in regards to buying or selling!

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Below you will find two concise charts comparing and contrasting detached homes in the Eastside and in the Westside. A detached home is where the building is not shared with an inside wall with any other dwelling. 

 

*What is a Seller's Market? Simply put, this market type occurs when the housing demand is greater than the supply.

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