Frequently Asked Questions


Should you be shopping for a new home before you sell your current property?

You sure can! There are benefits that allow you to not be too rushed and especially for the Salmon Arm market, if you sell your home and have not yet found a new home to purchase you could end up trying to find a place to rent in the meantime and that can be very challenging in Salmon Arm.  

When you find a home that suits you and want to write an offer, you can consider adding in a subject to the sale of your property. This is solely for your benefit and sometimes it means that a seller may reject your offer or more commonly they may accept it and add in a "time clause" where they will give you anywhere between 24hrs - 72hrs for you to remove your subjects, which would mean selling your house. This can be a disheartening process if your house does not sell and you get bumped out of your offer.  

Another option is if you list your house before finding a place, you can add a subject in the contract for the sale of your home that would allow you to find a place first before proceeding to sell your house. 

We would recommend starting to look online for homes and get an idea of what the market is like and what kind of home you can afford, then contact a REALTOR® (we would love to help you, so just contact us!) and start going to see some homes. During this process it would be a good idea to list your home. This way when you find the perfect property for you, you have already gone through the steps of listing your home.  

This does not apply for every situation, so if you have this question and need some advice, give us a call at 250-200-7355, we are always here to help, zero obligations.  

You want to buy a house? What steps should you take to prepare?

The first thing to do would be talking to a mortgage broker to get pre-qualified and know the price range of homes you can afford. By getting pre-qualified you can also lock-in the current interest rate for a set amount of time. That means if there is an interest rate hike, it would not apply to you. 

Do not buy any new cars, or open lines of credit during the buying process and make sure to save money.

Call a REALTOR® to help you search. We love helping people find their perfect property and would love the opportunity to work with you. You can contact us anytime. 

What exactly does a Realtor do?

We work to protect our clients best interest, it's important to us that our buyers receive the lowest purchase price and the best terms possible.  

As a buyer’s agent we will work with you to find a property that suits your needs and do our due-diligence in investigating that property to ensure it’s a smart buy for you. 

As a listing agent, we will work hard to sell your home and this starts with excellent marketing. We have a fully developed marketing plan for our listings that we would be happy to share with you. 

What is it really like living in Salmon Arm?

We get asked this buy our friends in the city all the time and notice a lot of people who are thinking of relocating here asking the same question - What is it really like to live in Salmon Arm?  

Salmon Arm is a small friendly city with a laid-back lifestyle. People here are so friendly and there is less of a rush to life. Since we moved back here we truly enjoy every single day.  

We have no traffic, tons of summer and winter recreation, a great supportive community, and all situated with one of the most beautiful views in BC.  

Housing is still expensive here, it is still BC, but it is more affordable than Vancouver/ Calgary/ Kelowna, and pricing is coming down. We are seeing detached homes go for around 600K-700K in Salmon Arm at the end of 2022, it could be the perfect time for you to get into the market here.  

When we decided to get into the market in Salmon Arm, it was purely for investment, we did not imagine we would be living here but we wanted into the market but could not afford anything worth investing in in Vancouver.  

Give us a call if you are considering relocating to Salmon Arm or have any questions - we have your back when it comes to moving to Salmon Arm!  

As a first time home buyer, what exactly is my benefit?

As a first time home buyer, you may be eligible for either a full or partial exemption from property transfer tax if you qualify.  

To qualify the property must: 

  • Be worth $500,000 or less 
  • Be 1.24 acres or smaller 
  • Only be used as your principal residence 

 you must: 

  • Be a Canadian citizen or Permanent Resident 
  • Have never owned a property anywhere in the world 
  • Have never received a first time home buyer’s exemption 

Have either: 

  • Lived in BC for at least the last 12 months 
  • OR
  • Filed at least 2 income tax returns as a BC resident in the last 6 taxation years 

Hope this helps! If you have any questions about this, please contact us anytime. 

What is property transfer tax?

In BC, property transfer tax applies to all types of real estate, whether residential, commercial, or industrial. It can be a significant cost, due on the completion date, that must not be overlooked if you are purchasing a property. Unless you qualify for an exemption, the amount due can be calculated using the rates below: 

1% on the first $200,000 of the property’s fair market value 

2% on the amount between $200,000 and $2,000,000 

3% on the amount between $2,000,000 and $3,000,000 

And 5% on the remaining fair market value

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.