Homeowners who
want to give up large
houses often have
trouble deciding |
‘whether.to buy’
another house or to_

aearticie in. the, first?

. quarter: issue. of Canadian

Housing: Markets, released:

recently “by Canada
Mortgage: and: Housing

Corporaticn offers confused ,

; vhomeowners ‘some help.»
oA : growing: number af
Canadians’ are leaving large
homes, .. pecially as. their

children; move our,” said |
= Bruno” Duhamel, of the
Marker “Analysis ' Centre “at

CMHC. “Their decision to

‘Move into. a" smaller. home’

aves involves’ financial and

If itvis-an apirtment or

‘ownhome you are thinking ~

OF buying, you'should famil-
4atize yourself with the term

epilation’ “jmporte ed
rom “Australia: in 1966°—

just-.as- the. condontiniuin:
market, in BG. was “taking ,

‘Although: the “original

rata: Tides: Act’ of British»
Columbia is now. -The
“Condominium Ac, there is:
no’ reference ta condomini-«

cJegislation,. it
ve the word |

“emotional considerations.

The Bay or Rent Decision
Model can help them with

the ‘financial implications of
amoving.”

According to Duhamel,
financial «analysis

edescribed \.in. the -artiele

shows that renting is-often a
favoralle short-term option,
ng a house with low

equity can also be-a. prof:

itable strategy.

* However, for those con:
sidering paying cash for their
new house, the model sug-
gests it may be more advan-

. tageous io rent-and to invest
“thes proceeds» from their’

house sale,
All the analysis generated
by the model depends’ on

future rates of investment. -

return, house prices and rent
increases,

“strata.”
Schou

terms there “is a ‘difference

between... condominiums

(usually ' apartments), and”

townhonies, any strata ‘title

‘housing unir falls under the.”

condeminiim act.
“Phere are ~ residential

units on the market which
are not strata title property,

ar Jeases or co-
¢units can not be
. Tegally owned: (have owner-
ship filed at the Land Tide
Office). Ifyou are unsure
‘look’ far ‘the. words: “strata
ute”. or “strata fort tithe
legal descripti

Copies oo ate The:

Condominium Act ate avail-

able 0" from Crown ©

Publications-in Victoria (for:
emerly the Queen's Primer).

marketing

Deana Lancaster °

‘News Reporter’

IF you’re looking to live n ear.
the heart of Lower Lonsdale; _
but in something larger and.a™
little more Juxurious. than most
condominiums currently on tie

‘market, Le Mirage may be for

you.

“Nothing else “compares,” ‘said Norm
Lum, one of the realtors marketing ‘the
project.

Only nine heritage-design townhomes

“are available at the East 6th location, and

one has already been sold.
With three bedroom: and. three bed-

“room plus den: floor plans, starting at
L512 square feet, Le Mirage offers plen-.:

ty of comfortable living space.

The homes also feature nine-foor ceil -
ings, crown mouldings, a full security sy:
tem and smoke detector. system, granite
COUNTErLOPS, large kitchens with, ‘centre
islands and,.in the bathrooms, deep ak-

> er jetted tubs.

The townhomes, due to be completed
carly in luly; votfer a recreation room,
two: and thre rgarages, large bay win-
dows, and in'some units, coutian decks,

And all of this is stil ‘lose ‘to Lonsdale
Quay Marker and the cafes! brew pubs
and restaursats. in. ower Lonsdale.
~ “Phe location issalsa” clase to North

Shore bus routs, the Seabus, schools and‘

are five floor plans-available, all

are three-levels:and include large. family.’

rooms off the kitchen. Prices start, at
$336,500,” . ; ar
The -° developer, Van” -View-Ama,

"Development is.no stranger to the North
“Shore —5 previous projects inchide towa-

homes ae 324. Fast Reitiy Rd.) four-unit

“duplex-homes at Chesterfield and) 8th
and: single family. residences in West eo
“Vancouver. ‘

The company. takes pride’ in using the

comments and suggestions Gf past chents’

as, guidelines for. current projects:
“Homer at Le Mirage are registered

under the New Honie | Warranty program.

> Visit the presentation centre for Le

Mirage at 257-265:East 6th St, in North

fancouver, or call NoravLaim-oc Marj
Mazaheri at 984-97 Ef. Information,
alsa available by sending te mall. ta norm:

, tunvelyns. be ai

AT A GLANCE...

svesneceeousseaacoreusonsanernes

“ ADDRESS: 5330 Seaside Place.

ceed ee eben seb ewan yenssennieeteueeeel eens

AGED year ye

_ one: oof West Van's most ‘exclusive neighborhoods. 7
Bre athtaking waterviews from the’ boy rove below.

caaetsensesentnteetabeaen anne eae combines grandour and wari,
eee eee » Features inckide a most beaytiial,
~'sophisticated French country

‘ce, stuphng ling room th

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