The Process

1. Provide Application Details

2. Construction Plan and Budget

3. Appraisal Report

4. Review Financing Offer

5. Construction begins

1st of 5 draws starting with Land Advance to Lock-up to Finishing and Completion

6. Refinance Conventional Mortgage

7. Ongoing Mortgage Management

Planning Goals and Capabilities

Costs

Budget

Neighbourhood/Municipality

Where do you want to live?
- Zoning: Upcoming rezoing
  - Cambie Corridor
  - Central Lonsdale
- Consider FSR
- Density
- Form & Character
- Heritage Designation
  - Infrastructure
    - Evergreen Line
    - Broadway Corridor
    - Keith Rd. Interchange
    - Downtown Viaducts
  - Amenities
    - Shopping
    - Recreational & Schools
  - Communities
    - Lions Gate
    - Brentwood
      - Demegraphic
        Community
        Outdoorsy
        Bars & Restaurants
        Artisans
        Families
        Young and old
        Ethnic
        What sort of community do you want?
Where makes the most sense for ROI?
Understand the nuances of where you want are planning to buy, build and live or re-sell

Needs / Wants

Is the lot well used
Architecturally significant
Good bones
Easy additions
Well kept
Rentable or livable
Heritage
A well-executed renovation can realize huge value, and there is still much good housing stock in vancouver.
Consider cost timeline and lifestyle when planning to renovate or rebuild

When and How to buy?

Be Prepared to Act;
- the best ones go quickly
Different times of day
Feb-June and Sept-Nov
Planning during Fall and Winter
- build in spring and summer
Work with a buyer agent;
- "Double ending" is outlawed March 2018 and the help you get will save time stress and money

What to build?

Plan to either build Your Dream;
- Or to maximize ROI
Ensure good design
- Open concept
- Frame the view
- Smart home
- Quality finishing / fitting / appliances.
- Quality mechanicals / envelope
- Curb appeal & landscaping
Beware "unique" design or strong Ethnic features if re-selling; you may shrink your buyer pool.
Do NOT overdevelop the lot or hood.
Good quality and great design never goes out of style!!!

The Unicorn Property

Features

*Find the worst house on the best lot on a prime street

Potential upsides

Risky Red Flags

summary

* Go with your realtor to showings and open houses - Learn what you like and dislike, what works and what doesn't work.

Planning

Due Dilligence
Design
- City of Vancouver Design Considerations
  - zoning bylaws
    - Maximum squarefootage
    - Setbacks
    - Parking
    - House? Suite? Laneway? Subdivide?
  - Character or Heritage designation
  - Design Guidelines (style)
  - Peat Area
  - Trees
  - and much more... (Designer / Architect can help)
  - Tools to help
    - Form
      - HOUZZ . Pintrest . Instagram - design ideas
    - Function
      - Client lifestyle questionnaires / Project Parameters
      - Start a Wishlist
      - Ensure Designer initiate Budget question at the initial stage and can walk through a high-level pricing exercise?
Pricing
- Site Feasibility Study
Permits
- Municipal dependent
- types
  - outright 6-8months roughly
  - conditional 10-12+ months roughly
Construction Starts

New homes are...

Engineered
- foundation
- roof
- structure
Healthier
- better air quality
- no asbestos
- other hazardous products
More comfortable
- warmer surface
- less drafts
More durable
- last longer with less issues
More efficient
- more airtight
- higher insulation values
- more efficient mechanical equipment
Safer
- Stairs and railings
- Fire and code (egress, smoke detectors, CO2 detectors)
- Electrical wiring improvements

Consider

Appliances and Installation
Appliances and Intallation
Landscaping
Demolition
Asbestos Testing & Abatement
Window Coverings
Taxes
Soft Cost: Building Permit fees:
- Building Permit fee
- Design fee
- Structural Engineer
- Interior Design
- COC Course of Construction Insurance
- Energy Modelling
Many vaiables
- Joist Vs Dimensional
- Elaborate or Simple
- Plywood vs OSB
- Crushed Rock vs Dirt/Clay
- Once chance to do it right and can save you headache down the road!!
- Leins
  - 10% holdback from supplier and subtrades
  - Protects homeowners
  - have lawyer check
  - have lien - no mortgage
- Builder should have weekly weekly reporting and schedule
- Builder should provide CARE & USE Manuals when the job is done
Lastly if you have unused material or furniture consider donating to Habitat for Humanity ReStore near you!
- habitat.org/restore