B3 - Friday, July 27, 1984 - North Shore News Women in toda EACH NIGHT § after work, Ellen Smythe drives home to her com- fortable bungalow in a small community north- east of the city. Smythe, 33, is one of an in- creasing number of Canadian women who have decided to invest in their own home. Well-educated, single, and upwardly mobile in her career as an insurance broker, Smythe earns an an- nual salary of approximately $27,500. She is a terrific saver, and had $12,500 put away for her future prior to her decision to purchase a house. Countless options and decisions face prospective homebuyers as they make the transition from = tenant to homeowner. An _ evaluation of the resources available to finance a home is a first priority. In Smythe’s case, a realistic decision on the type of accommodation determin- ed that she purchase an older detached home in a small community within driving distance of her job in the out- skirts of the city. The $12,500 saved, plus the estimated $600.00 per month for mortgage payments, determined that the home would be in the $40,000 to $50,000 range. Clair Shoemaker, Vice President, The Mortgage In- TIPS ON HOUSE SHOPPING Hard Mvercallbdestibylbed ; N ‘ N S$ Sa akan Mil % “i Y Vd go TOOL I plo MW 90 - ny Wh : y} LLL Ml ; LLL Co ll Ve Wh Vide MUD photo lan Smith THE NUMBER of career women in the market for real estate is increasing — and so is confusion over the best way to go about purchasing a home. surance Company, says: ‘‘No one should buy a home unul they can truly afford it or it will drastically affect their lifestyle. Ideally, a minimum 25 per cent down payment is advisable and mortgage payments exceeding 30 per cent of net income should be avoided.”” Once the financial aspects are taken care of and the preliminary decisions made. about the type of home desired, the next step was to find the house itself. The real estate specialist was carefully chosen and many homes were visited. The character of the neighbourhood was con- sidered and Smythe invest- gated the time it would take to drive to work, commuter transportation, shopping centres, banks, recreation facilities and churches in the area. . ‘*Be informed when house hunting,’’ says David Hig- gins, Vice President and Residential General Manager, A.E. LePage Real Estate Services Lid, “‘A house 1s probably the single biggest investment you will ever make, so make certain you know what you are buying.”’ When Smythe found her ‘perfect house’, she con- sidered the costs of operating the household before signing an offer to purchase. Con- sideration was given to the costs of heat, electricity and other utilities, so she asked to see samples of energy bills from the previous year to know what to expect. Next, a professional home inspector examined the struc- ture, roof, windows, founda- tions, heating, electrical systems and plumbing work for defects, and provided a "Ss market detailed estimate of struc- tural soundness and needed repairs. ‘“‘We notice shortcomings that the untrained eye cannot see. Many people are as- tounded at the repairs that. are required in any older home,’’ said home inspector Rudolf Rousse. In Smythe’s case, required repairs were minimal. However, after the attic, basement, crawlispace and walls were checked to deter- mine the R value of the in- sulation and the ensure there was an air/vapour retarder, the home inspector recom- mended adding insulation to the attic to bring it to an energy saving R40 value. Finally, before the offer to purchase was signed, the ad- vice of a real estate lawyer was sought. ‘‘Lawyers study the fine print on documents to make sure you are getting what you expect,’ says Bruce Bussen, partner in the law firm Bussen & Bussen. ‘‘Don’t be afraid to ask for substantial time to have your lawyer look over the offer. Real estate documents often contain several pages of fine print — usually obligation on the part of the purchaser.”’ The transition from tenant to homeowner can be a smooth one. But, it is impor- tant to be informed, alert, cautious, and get profes- sional assistance to ensure that this important’ in- vestment will be a happy one. DURING VACATION Common sense beats burglars WHILE AWAY from home this summer, whether on vacation or a weekend getaway, BC AA recommends leaving a house that has that hved in los The following suggestions will help protect your home while you're away e Notity neighbors you'll be away and key so a penodi Check can be plumbing and that leave a made on Ker, heating Also Jeave an wanerary and phone numbers where you can be reached tn an emergency © Arrange for care of pets and houseplants Stop deliveries of newspapers, mail etc * Use a timing devine to turn on hghts and/or a radio e Have your lawn moved regularly © If you have a second car, Clee head council J ROSS ( haiman, KER and of Klugh Varneouver AM clected Vane ouver. has been Clee of Vice Charman, of the Real b state Council of B ¢ They were clected at the Councils July mecting in Vancouver Kero prestdent of Ker and Ker Led tcal and has been un the ipabasery a0 Hie ws a past president cAtale Fave VOary ot Crreater Vamouver the Real Estate Board of past and founding governor of tly Ke al bE ovtate Davvtatarte oot Bevtast © cobuseretoea and tae served ae a menneteen ob bye Reat t state © consent Vreven YS OS amd FV 'G to hate Chee a the prexindens of Ma been Clee A NA vnon rato: Louch evel bya vgeeen tte dann ba years inorealestate © lee serv cd on the Keal bt state © oundil 97S 76 and P9IROG date bic hoa member and past pres dent of the Real b state Board ol CGareater Vancouver and of the Real Estate toscitute of Bestist © cotusniteras Membars oo tee Cc ounene al tome 1 VBA MS cee buscde | Mian nec Butler West Napecourses Ronald Ht Kang Vancousect Predera hk ft Raussctl West Name cusecs and Peter M Wioidleaerevcrns Vianees cours fdeave itn the regular place in gShe carport or laneway or have a neighbor park there occasionally © In an obvious spot inside your home, leave and address of the person pohce should contact in case of emergency * Leave shades and drapes the name partly closed and have a neighbor rearrange them penodically © Lock all and windows In addition, BO AA recom mends a thefl such exterion doors polhoe sponsored protection program as UO peration lden tif ation ax an cxectlent scuuctly measure and an add ed deterrent to burglars What not to do © Don't leave a key hidden nan obsous place © Dont leave a note pun ed to the door ton anyon °* Don't valuable leave jyewelty and documents in yout home Put them oon a salety deposit: box © Dont forget to book doors and windows io the Rarage and detached bunidbngs Poots stored there could be used to break in © Dont discuss your ap coming trige at the growery slore or where NUt anger: maght be Ibstening © Pde te ferent the ft and free onsaranmec Be sane you have adequate coxcrage and CPoae at Bean caged (oe gorertt dae bocdert welt Festus en pare ders bobis PL woth ot Mone oF ve wed con) wilt oo. ees ae a tyaeatityoa, — ee DGEMONT VILLAGE Pic onrve $119,900 hoya wand te tye chore te Soule 47 Thane howerty Dedroonn. lar Qe sctity bote tess Quvet stheeet Large astartialote NORGATE RANCHE eh ger thre Valleaqpe youu $105,900 now! we Woyouw the rane tens Mh es bo Dawe Dede oars race lol along COSY LER Spree tena hat seg, cyl all one Tor gage gorgeous lol plus large gatage and wookshop fr er re ean y Thre: tek cowerrton oh: Deva bessiec be Var mae ret the Archie, 4 +O Cooma the c cottencge Cv cabebe Be vet ne et saeeety toatote wo ibeenal weve dot Asking Boot Sot ae to tae ! caer bhatt! IF IT’S REAL ESTATE ... IT’S WEST COUNTRY! GRAND BOULEVARD ALOT WITH A BONUS ae my he yk ints Shes