Originally Posted by roastpuff (Post 9097751)

Reno, or whole new build? The BC Assessment pic is so different! Anyone have any other details on the house?

BC Assessment pic:
https://propimages.bcassessment.ca/0.../thumbnail.jpg

EDIT: Found a listing that isn't deleted.

https://www.zillow.com/homedetails/1...14375508_zpid/

Tiny lot though, and less than 1000 sqft of living space.

Originally Posted by rb (Post 9097753)

noob question: How are you sales done these days? Did you guys meet up with your agent in person to go over your bid, etc and then be in the same room to listen to how he negotiates, etc and discuss your counter..... or is it just done strictly over the phone these days?

Originally Posted by Alpine (Post 9097752)

https://betterdwelling.com/canada-is...ration-record/

Better get your hands on land... we are on pace to smash last year's immigration numbers.

Originally Posted by rb (Post 9097753)

noob question: How are you sales done these days? Did you guys meet up with your agent in person to go over your bid, etc and then be in the same room to listen to how he negotiates, etc and discuss your counter..... or is it just done strictly over the phone these days?

Originally Posted by twitchyzero (Post 9097767)

https://www.youtube.com/watch?v=Re_mShtG0-4

oof conflicted indeed

i think it's important to save some that aren't cookie cutters, but the entire neighbourhood under protection seems like a lot of land, perhaps only 2-3 big city blocks?

Originally Posted by PeanutButter (Post 9097909)

I wonder what the fine is to just demo these heritage homes. I mean once you demo it, then they have to approve new plans right? Pay the fine and be on your way. I can't remember who I was watching but he said rules are for people who can't afford the fine. Maybe that applies here?

Originally Posted by supafamous (Post 9097913)

https://www.nsnews.com/local-news/no...permit-5353138

This builder got a $200k fine for not keeping a portion of the heritage house. I heard a story in the UK where a developer torn down an ancient pub and was forced to rebuild the entire thing.

Originally Posted by Alpine (Post 9097920)

Just the cost of doing business (just like cutting down trees that you are not allowed to). If you can afford to build a multi million $ house you can afford the fines. If I had F U money I probably wouldn't care either.

https://www.vancouverisawesome.com/o...ree-bc-1941607

Originally Posted by EvoFire (Post 9097927)

$12,500 for a 55" fir seems lenient. I would expect it to be into the six figures for it to matter. In this sense the perpetrator would just pay it and move on, what's 12,500 when you are spending 4-500k on a laneway or 1m+ on a new house. Should have a base fine + $1000 per year old of the tree.

Alternatively, even if the tree was cut down illegally, make sure plans being approved for the build doesn't allow that space to be encroached. That would turn off people who illegally cut down trees for more room as it doesn't solve their problems.

Am I being too much of a tree hugger? But a 170yr old tree is impossible to replace.

Originally Posted by Great68 (Post 9097919)

My cousin had his 1907 house in Fernwood designated.

He can do whatever he wants to the interior of the house (move walls, etc. He even removed one of his fireplaces & chimneys), but has to maintain the original aesthetics on the outside.

I personally love the aesthetic of victorian houses, while I find modern "box" houses absolutely fugly.

Originally Posted by lowside67 (Post 9097489)

Pretty much none of that is correct.

First of all, if mom and dad are both on title to their home, and dad dies first, the effect is basically that his name just drops off and it becomes 100% mom's. This has no tax consequence whatsoever.

Second of all, if mom continues living in that house until the day she passes away, there is also no capital gain to be paid on the house because it was her principal residence until the day she died.

Presuming she leaves the house (or proceeds) in the will to kids, the estate will pay a probate tax on the value of the house which will be deducted from what can be left to the kids - this is approximately 1.4% in BC. It makes no difference if the house is sold and cash left to the kids, or the house is left to the kids directly; the value of the house or the value of the cash proceeds are the same and therefore the probate taxes to be paid are the same.

Estate planning is a complicated topic and frankly there are some very powerful tools to help minimize taxation, but they are very specific in how they are used (particularly together) and I would be highly suspect of a) some guy on the internet posting or b) generic webpages that describe strategies that may or may not work.

The best thing you can do is talk to somebody. You can start with your accountant, but they can often have a very large range in their abilities and experience they can offer on out of the box solutions. If you work with a full service investment advisor, they can probably also connect you with some resources.

-Mark