Mylyne & Associates - April 2024 Presales, Foreclosures, and Market Update

Mylyne & Associates -

Stonehaus Realty Corp.

info@mylyne.com
604.723.2000
http://www.mylyne.com/

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Our Top Presale Picks

 

Click for more information, pricing and downpayment structure.  Contact us for private viewings.

1.  Pkwy by Bosa in Surrey

2.  Azure in Langley

3.  Fraser Mills in Coquitlam

4.  Reign at Metrotown

5.  Stowa in Surrey

6. Scale in Langley

7.  Ethos at Metrotown



Spring Home Renovation Tips: Refresh And Renew Your Space

 

As the snow melts and the days grow longer, the arrival of spring brings with it a sense of renewal and rejuvenation. For many homeowners, it’s the perfect time to tackle home renovation projects that not only enhance the aesthetics of their living spaces but also improve functionality and efficiency. Here are some essential tips to help you refresh and renew your home this spring:

1. Plan Ahead: Before you dive into your renovation projects, take the time to plan. Decide on the areas of your home that need the most attention and prioritize projects based on your budget and the time you have available. Consider both aesthetic updates and practical improvements that can increase your home’s value.

2. Focus on Curb Appeal: Spring is the ideal season to enhance your home’s exterior. Simple updates like painting your front door, replacing old house numbers, or adding fresh landscaping can make a significant impact. Consider pressure washing your siding, driveway, and walkways to remove winter grime.

3. Refresh Your Paint: A fresh coat of paint can breathe new life into any room. Spring’s natural light can help you assess which areas of your home could benefit most from a repaint. Opt for light, airy colors to reflect the season and make your spaces feel larger and more inviting.

4. Update Your Lighting: As the days get longer, natural light changes the ambiance of your home. It’s a great time to reassess your lighting fixtures and consider upgrades or additions that enhance the brightness and mood of your rooms. Energy-efficient LED lights can also help reduce your electricity bills.

5. Optimize Your Outdoor Space: With warmer weather on the horizon, focusing on your outdoor living area is a wise move. Whether it’s repairing your deck, setting up a new patio area, or planting a garden, these renovations can extend your living space outdoors and provide a serene retreat.

6. Tackle the Clutter: Spring cleaning is a pivotal part of the season. Use this time to declutter and organize your home. Consider adding new storage solutions or reorganizing existing ones to maximize space and functionality.

7. Think Green: Incorporating energy-efficient updates can lead to long-term savings and contribute to a healthier planet. Consider double-pane windows, enhanced insulation, or eco-friendly materials for your renovation projects.

8. Hire Professionals When Needed: While DIY projects can be rewarding, some renovations require a professional touch. Hiring experts for electrical work, plumbing, or structural modifications ensures safety and adherence to local building codes.

Spring is a time of new beginnings, making it the perfect season to refresh and renew your home. By planning carefully and focusing on both aesthetics and functionality, you can create a more comfortable, efficient, and beautiful living environment. Remember, small changes can make a big difference, setting the stage for a year of enjoyment in your freshly updated home.



Attn: Small Businesses

 

Whalley Little League's Annual Event

Looking to get some exposure for your business in Surrey.  This is event is earning its reputation in town. 

Click here for sponsorship info.



April 2024 Foreclosures

 

April 2024 Abbotsford Attached
April 2024 Chilliwack Attached
April 2024 Burnaby Detached
April 2024 Chilliwack Detached
April 2024 Abbotsford Detached
April 2024 Maple Ridge Attached
April 2024 Burnaby Attached
April 2024 Mission Attached
April 2024 Maple Ridge Detached
April 2024 Langley Detached
April 2024 New West Detached
April 2024 North Van Detached
April 2024 North Van Attached
April 2024 Tricities Attached
April 2024 Richmond Detached
April 2024 Surrey Attached
April 2024 Richmond Attached
April 2024 Surrey Detached
April 2024 Tricities Detached
April 2024 White Rock Attached
April 2024 West Vancouver Attached
April 2024 White Rock Detached
April 2024 West Vancouver Detached
April 2024 Vancouver Attached



Your 2024 Tax Claims Kick Off

 

Most Canadians must file their tax return by April 30, which is also the deadline to make a payment for those who owe money to the government.Canadians who are self-employed, along with their spouses or common-law partners, have until June 15. Since that day falls on a weekend, the CRA will consider a return to be on time if it is received by or postmarked on or before June 17.

Self-employed Canadians must still pay money owed to the CRA by the April 30 deadline to avoid paying interest.

FHSA, home office claims among changes

This marks the first year that taxpayers will be able to enter deductions on the First Home Savings Account (FHSA), a type of tax-free account rolled out by the federal government last year to help Canadians save on their first home.

"Your contributions to the FHSA are tax-deductible, while your withdrawals — as long as you use them for the down payment of a purchase of your first home — are tax-free," said Gerry Vittoratos, a national tax specialist with UFile.ca.

The program allows prospective homebuyers to start saving for up to 15 years once they open an account, with an annual $8,000 deposit cap and a lifetime contribution limit of $40,000.

Canadians who've opened this type of account will receive a new slip called the T4FHSA, which will provide the details needed to complete your tax return.

Financial institutions and employers have until the end of February to send tax slips to the CRA. So most taxpayers might not even get their slips until early March, "and that's really the kick-off of the season," Vittoratos said.

Canadians might also notice that the temporary flat-rate method for claiming employees' home office expenses — such as rent, electricity, internet and office supplies — is no longer available.



Should You Own Residential Rental Properties in your Corporation or Personal Name

 

If you have an operating company:
98% of the time: Corporation

If you are an employee:
98% of the time: Personal Name 

Corporations change the game dramatically with the use of small business tax rates.  Small business tax rates in BC are at 11% with net income < $500k. 

If your property is owned in the corporation, the operating company earnings can be used for:
1. Down payments
2. Negative cash flow
3. Mortgage pay down
4. Renovations

All of this is done without paying personal tax.  

If you are an employee, you already pay the maximum tax, therefore there is no real reason to use corporations outside of legal protection. 



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