Keeping our bc homeowners organized this summer

It feels as though both the temperatures and the real estate market are warming up in BC. Before everyone gets busy making plans for road trips, barbecues, and house shopping, there are a few homeownership and mortgage details we want to put on your radar. A little planning now can help prevent unnecessary stress later.

Here are four summer reminders from your mortgage team

1. PROPERTY TAX DEADLINES ARE APPROACHING

If you're a BC homeowner, the deadline is Thursday, July 2nd for:

• Paying your property taxes
• Applying for the Home Owner Grant
• Applying to defer your property taxes

Not sure whether your property taxes are paid directly by you or collected through your mortgage lender? Reach out and we'll help you confirm. It's a quick conversation that can help avoid penalties, missed payments, or last-minute surprises.

If you're eligible for the BC Home Owner Grant, remember that you must apply for it every year. Even if your lender collects your property taxes, the grant application remains your responsibility.

Learn more about where and how to manage your property taxes HERE.

If you haven't yet received your property tax notice, reach out to your municipality, or if you live in a rural area, reach out to the Province of BC. You may also want to check out the Province of BC's FAQs, City of Nanaimo's FAQs , or your own municipality's website for more info!

2. HEADING OUT OF TOWN? GIVE US A HEADS-UP

Summer is filled with vacations, camping tips, and spontaneous adventures (as it should be!), but if you’re in the process of refinancing, renewing, or purchasing a home, please for the love of all things bright and sunny let us know your travel plans as soon as possible.

Mortgage documents generally need to be signed in person with a solicitor or notary, and being away at the wrong time can create unnecessary complications and costly delays.

The earlier we know your schedule, the more options we have to coordinate timelines and potentially implement creative solutions to keep everything moving smoothly.

3. DON'T WAIT TO ARRANGE HOME INSURANCE

If you're purchasing a property this summer, we strongly recommend securing your home insurance as soon as possible after removing subjects.

Wildfire season can sometimes lead insurers to temporarily restrict new policies in higher-risk areas. Waiting until the last minute can create unexpected challenges and, in some cases, impact your closing timeline.

Getting insurance in place early helps eliminate one more thing from your to-do list.

4. A PRE-APPROVAL IS LIKE THE BEST SUNSCREEN

Summer remains one of the busiest times of year for not only homebuyers but all real estate professionals.

Timelines are generally longer and a busy market can be less forgiving. Securing an updated pre-approval allows for realistic expectations, strong strategies, and clear understanding of you budget, allowing you and your team of professionals to move quickly and most importantly confidently when the right property comes along.

We can also provide a financing letter to accompany your offer, helping demonstrate to sellers that you've already taken important steps toward securing financing.

In a competitive market, preparation matters - a pre-approval and a bit of sunscreen will help you avoid getting burned!

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Enjoy the sunshine, make some memories, and if anything mortgage-related comes up, don't hesitate to reach out. Whether you have questions about taxes, travel plans, insurance, or pre-approval status we're here to help!

OAC, E&O