When you're sizing up a potential new home to see if it meets your needs, suits your lifestyle and isn't going to cause you unexpected costs and grief down the road, a full inspection will reveal potential concerns that could lead to disaster.

Even before the home inspection there are ways to identify if there are underlying issues that could develop into larger problems down the road. One of the biggest concerns can be the basement. If it shows signs of dampness you could be buying into trouble. A damp basement could be more than just a nuisance to homeowners, especially if you want to use it as a living space such as a family room, bedroom or home office. Any signs of moisture can lead to accumulation that can cause both cosmetic and structural damage to both the basement and the floor above.

Here is more information, courtesy of www.wedothehomework.ca.

What are the signs of a damp basement?

The tell tale signs that let you know there's potential trouble are loose floor tiles, rusty baseboard and wall nails, storage elevated off the floor, damaged or water stained basement storage, dampness or water spots and/or stains on walls and floors, peeling paint, rust at column or post base, patched walls and rotting boards or wood.

There are three major causes of water in a basement:

1. Condensation: While condensation may be present in the basement, an accumulation of it can cause the floorboards above to buckle. It appears as water droplets, puddles or wet spots on floors and walls. If left, it can cause damage such as rot and invite insects to make your home, theirs.

2. A problem below the surface: Sometimes the issue can come from places you can't even see. In some neighbourhoods, homes are sitting on high water tables which can cause ongoing issues – especially during a big storm or quick thaw. These problems aren't permanent however if the basement is holding water even after the storm, the source of the problem could be below the surface.

Water that comes through walls or appears where the floor and wall meet is an indicator of high ground water. The cure for this can be as cheap as an absorbent clay injection to a more expensive solution such as installing a sump pump.

3. Runoff: There are several ways runoff water can enter your house and cause dampness in your basement. Rainwater and melting snow are the most common sources and for some homes it's common to find dampness after a storm or drastic increase in temperatures that causes snow to melt quickly.

Damp basements can occur in new and older homes as heavy rainfalls and melting snow find it's way into basements both new and old. If you notice any dampness make sure to ask questions and assess the source of the problem so you can decide whether the solution is worth your time and effort.

For more information, visit www.wedothehomework.ca, a website created by the Ontario Real Estate Association to educate homeowners about the buying and selling process.

There's more to a real estate agent than sticking a sign on your front lawn and distributing information sheets at open houses. Promoter, legal and tax expert, historical researcher, statistician, decorator and objective sounding board is among the roles realtors take on in the quest to buy or sell a home.

Homeownership is, or is about to become your biggest asset so from the moment you begin your search or sign a listing agreement a whole world of expertise and access to information and marketing prowess unfolds by hiring a real estate professional.

Buying or selling a home is a time-consuming, confusing, stressful and emotionally charged event. Leaning on someone who does this for a living, has gone through the process countless times and also continuously upgrades their skills through education is the logical choice.

Real estate professionals are licensed and must abide by the Canadian Real Estate Association's Code of Ethics. It's peace of mind for homeowners, giving them recourse through a provincial regulator should something go awry.

Also, having access to the MLS system means maximum exposure to a bevy of buyers and sellers. This usually means a quicker sale or buy for you and that's a huge weight off anyone's shoulders.

With an objective eye and a keen ear, real estate professionals can help you put your home in the best light or find a home that fits your needs, budget and personal preferences. And when it comes to negotiating, this objectivity and experience is invaluable. Realtors are indispensible in smoothing things out between both parties. Plus, realtors are experts at finding and translating the fine print on legal documents that would normally boggle the rest of us.

More than 80 per cent of buyers and sellers hire a real estate professional, and those who go it alone, often wish they had hired one. Without insight into the market conditions, do-it-yourselfers are often guessing at list prices and typically undervalue their home or price it too high and drive away potential buyers.

Want to know more about the benefits of having a professional by your side? I'm here to answer any questions!

Selling your home? Don't forget to make the front and back yards just as attractive as the interior of the home. Curb appeal is hugely important when selling and a home with a beautifully landscaped yard will sell a lot quicker than one that is unkempt and full of weeds.

Before putting your home on the market, spend time transforming the backyard into an inviting space. An attractive and functional backyard is like adding another room to your property and you want buyers to see that value. Then, when your home is on the market and you're having an open house, make sure to set up the patio or deck as if you were entertaining. This will keep visitors outside longer and will allow them to see how they can use the space.

Here are more ideas on how you can make your property shine when selling your home:

Clear out the clutter: Remove any toys, gardening equipment or broken patio furniture that would prevent buyers from seeing your yard at its best.

Make your house easy to find: Replace house numbers that are damaged or too small to see from the curb of your house. You want viewers to think the house would be easy to locate if they lived there. Also, add outdoor lighting so the house appears welcoming for evening viewings.

To reno or not to reno: Your Realtor can help you decide the resale value of adding a deck or redoing the patio before you put the house up for sale. Some renovations can add monetary value while others will not be worth your while spending the time or money.

Throw in extras: If you have attractive outdoor furniture pieces, consider including them in the sale to the new owner. This is a great idea if you're moving to downsize and won't have room for the items. Let potential buyers know that their new backyard oasis is set up and ready for when they move in.

When you're sizing up a prospective home, it's hard not to imagine what it will look like once you take a paintbrush to it and unpack all your belongings. But most of us don't stop there. In our minds we're already taking a sledgehammer to that front room to create more space and light. Removing a wall can certainly achieve your dream space yet it's not always as simple as it sounds. Can you simply apply brute force with a sledgehammer to get the look you want or should you call a contractor first? Understanding what you're up against can save you a lot of time, money and remorse.

By simply sizing up a wall from the outside, it's hard to tell if the task at hand will be simple and painless or require a major structural change. "The first thing you'll need to determine is if the wall is load-bearing and how much load it supports," says Patricia Verge, president of Ontario Real Estate Association (OREA).

"While it's not impossible to remove a load-bearing wall, you'll have to understand what your options are to replace the support of that wall," she adds. "It's wise to consult an architect or general contractor before making a decision that could cause structural damage to your home if not done properly."

Here's what you'll need to consider, courtesy of www.wedothehomework.ca.

1.Removing a wall is different from home to home and from storey to storey. Removing a first floor wall in a two-storey home is more expensive since the wall is taking the additional stress of the second storey and will require more work and options to ensure the integrity of the structure.

2.If you aren't planning to replace the floors, you'll have to assess the patchwork that will be involved where the wall once stood. It can be difficult to match old hardwood with wood pieces making blending old and new an issue.

3.You may want to keep older moulding from one room but could experience difficulty finding a way to carry it on into the new space since new materials on the market may be not be a suitable match.

4.Removing one simple wall can create a whole new look and feel to any space. It's something prospective homeowners should consider when sizing up a home they love but need it to meet more of their demands like better flow or spacious rooms. Talk to your realtor and they can help suggest options and tell you if you should speak to a general contractor or architect before taking a sledgehammer to your potential dream home.

For more information, visit www.wedothehomework.ca, a website created by the OREA to educate homeowners about the buying and selling process.

For many homeowners reaching their golden years, the need for multiple bedrooms and expansive outdoor space diminishes as you look to retirement. Thoughts of travel, embracing a new hobby or simply taking it easy begin to take over and tiresome household chores like cleaning bathrooms and mowing the lawn can get in the way of the lifestyle you are looking forward to. Downsizing is a term we hear quite often in the real estate industry. It sounds easy enough, but in reality can cause anxiety for even the most motivated homeowners.

After your children have flown the coop and you make the decision to sell your family-sized home to purchase something smaller, you will inevitably have to get rid of some furniture and other belongings.

To help ease the stress of giving up some of your cherished items, here are a few tips to keep you on track.

1. Figure out where you're moving to before you post your treasured dining room set on Kijiji. Perhaps your new two-bedroom condo has a spacious dining room. When you know exactly where it is you're moving to and the exact room dimensions, you can sell or give away any big items that just won't fit in your new space. It also prevents you from humming and hawing over things, reasoning that you 'might' be able to fit them in somewhere. Measure every room in your new house so you don't have to guess.

2. Don't leave everything to the last minute. Get a good head start on downsizing as soon as you buy a new home. Spend an hour or two each day going through the rooms of your current home, organizing and packing things up as you go. It can't hurt to carry a big box around with you for items you have no trouble parting with - home decor items, desk lamps, pictures etc. At the end of the week, you can offer the items to family or friends and make a run to Value Village or a charity to get rid of what's left.

3. Purge any items you don't use. When you're trying to decide if you should bring that bulky food processor or toaster oven to your new (smaller) kitchen, think about how much use it's gotten over the past year. If it's only once or twice, chances are you can pass it on to someone else without missing it.

4. Make some money! It's so easy these days to sell used items. From kitchen appliances to furniture, there's someone out there who will gladly purchase your castaways.

Thinking of buying or selling in the Keswick or Georgina area?

Get in touch with me to see how I can help! 905-251-3520   hannagillis@royallepage.ca

For some, owning an older home replete with character and charm is the only way to go. There certainly is something special about pocket doors, original stained glass windows, archways and basket-weave tile floors…features you rarely find in newer builds. But owning an older home does have a downside, namely energy conservation - or lack thereof.

If you've recently purchased an older home, there are many upgrades you can make to help save money on your energy bills. Start small and work your way up to major projects, such as replacing windows or installing alternative energy sources like solar panels.

It might sound insignificant, but a great place to start when it comes to saving on your electrical bill is with your light bulbs. Use eco-friendly CFL's or LED lights. They are slightly more expensive than the phased out incandescent bulbs, but the savings over the long run are substantial.

For busy families on the go, a great option for energy conservation is a programmable thermostat. New models are so sophisticated that they can be programmed for weekday versus weekend temperatures and even run a vacation setting where the heat or air conditioning is turned as low as possible. Set the temperature to adjust about half an hour before you get up in the morning or come home in the evening for optimal savings and comfort.

How old are the appliances in your 'new' old home? Upgrading the appliances to Energy Star rated models can save you up to 30 percent annually on your electric bill. Look at the labels on your refrigerator, oven, dishwasher, washer and dryer to determine if they are Energy Star rated.

Another option for optimum energy conservation in an older home is adding insulation. You can insulate your roof and walls with blown-in cellulose. You'll be amazed at what a difference it will make to the comfort of your home.

When your budget allows, consider updating the windows, heating and air systems and replacing the roof to maximize your energy conservation.

Instead of turning green with envy over the flawless state of your neighbour's lawn, here are a few tips to turn yours into a point of pride.

Sharpen the blades on your mower annually. A clean cut eliminates risk of disease. Also, lift up the mower blades one or two notches while you're at it to keep your grass at a reasonable height, forcing the roots to grow stronger and curb the need to water more frequently.

The rule of thumb is to cut no more than a third of your grass height and only when it's dry. So, 3 cm high grass would just get a 1 cm cut. And leave those 1 cm cuttings where they land because they'll work their way back into the soil and add nutrients.

When it's time to water, about 2.5 cm of water will do. To gauge that, put an empty tuna can within the sprinkler's spray. When it's full you've reached optimal saturation. It's best to water in the morning before 11 a.m., or after 2 p.m., otherwise the water will condensate before it sinks into the soil. And do not water at night because too much moisture promotes disease.

When weeds do surface, it's best to pull them out by hand. If there are too many, dedicate 10 minutes daily to the job and soon enough you'll be rid of the lot. Be sure to throw some grass seed in the space left behind, to prevent more weeds from calling those empty plots of dirt home again.

It's well worth throwing down some grass seed in the fall and spring to help thicken the lawn but be sure to water it so that the seed takes root. Add some compost or triple mix to foster that growth.

Also, fertilize in spring or fall and be sure to disperse it evenly and sparingly, to avoid burning the grass. To determine your lawn's particular needs take a sample to the local garden shop. The garden pro there can recommend ways to amend deficiencies or balance excesses.

If your lawn has never been aerated and is showing signs of stress, such as soil so compacted that you struggle to drive a weeding tool into it, it may be time to aerate. Poking holes throughout your lawn helps oxygenate the roots and draw down much-needed nutrients and water to the roots.

Thinking of buying or selling in the Keswick or Georgina area?

Get in touch with me to see how I can help! 905-251-3520   hannagillis@royallepage.ca

It's no secret that the spring real estate market is a hot one. For buyers, inventory is usually higher, meaning more selection, the snow has melted and it's easier to see decks, foundation, backyards, etc. and you can ensure that you'll be in your new home in time for the summer months. For sellers, listing your home in the spring means more traffic, nicer curb appeal and a greater chance of getting full asking price.

Even though homes move quickly during the spring real estate market, sellers will still need to take measures to ensure that their home is desirable to buyers. Remember, more inventory for buyers means more competition for sellers! You will need to not just attract potential buyers, but also make them want to stay in your home – permanently. Here are some things you can do at home to make sure your home is making a great first impression during the busy spring season:

The first thing to tackle is your home's exterior. Spruce up your curb appeal by raking your lawn, cleaning up flowerbeds, trimming bushes and trees, storing yard tools, kids' toys, garbage bins and anything else that might be lying around. If your asphalt driveway is showing signs of wear, have it sealed. Take a look at the trim around your windows and on your front door and garage doors. Is the paint peeling and flaking off? If so, it's a wise investment to repaint these areas. It will make your home look revitalized and buyers will see that it's well cared for before they even step through the front door.

Inside, clean, clean, clean. Your home should be spotless before each and every showing and open house. Also be sure to pack away photos, knick-knacks and personal items, de-cluttering and de-personalizing the space. If there are numerous holes and scratches on the walls, consider a fresh paint job to really wow buyers, sticking with a neutral colour palette.

Buyers should also do their homework to make the most of the spring real estate season. Spend some time driving through neighbourhoods so you know exactly where to zero in on your home search. Review your finances, decide on a budget and get pre-approved so that you are in the best position possible when it comes time to make an offer. Finally, take advantage of your realtor's wealth of experience and knowledge…ask lots of questions about the home itself and the process of purchasing so that there are no surprises.

Thinking of buying or selling in the Keswick or Georgina area?

Get in touch with me to see how I can help! 905-251-3520   hannagillis@royallepage.ca

When your home goes on the market, it is always the goal to see fast results. There are certain ways to get your house in good shape and ready to sell. Here are five tips to follow to help your house sell as quickly as possible.

1. De-personalize

The first thing to do in your home to get it ready for the market, is to de-personalize it. Look around in each room and remove all of the things that are personal to you and your family. As buyers view your home they will be trying to visualize it being their own house and that can be difficult if all they see is your family's personal belongings. So take out family photos, trophies and awards, vacation souvenirs, any religious decor, etc., and save them for your next home.

2. De-clutter

All clutter must go! It is an important step to make your home clutter free. This again will help buyers be able to see the space and picture themselves in it. You want to have clean and clear countertops, tables, flat surfaces, floors, cupboards and closets in your home to give the appearance of more space and have it easy on the eye.

3. Improve Curb Appeal

It is important to stage the exterior of your home too. The outside appearance is the first impression people will have of your home and often potential buyers will do a a quick drive-by first to see if they feel the home is worth viewing on the inside.

Make sure your front door has a fresh coat of paint on it, as well as repaint or stain your porch or deck if needed. Power wash the siding and walkways, and wash the windows.

The landscaping needs to be in good shape and keep all bushes and your lawn well manicured.

4. Have it in "Move In" Condition

Nobody wants to buy a new house that requires tons of work and adding up all of the dollars that you will need to spend on fixing it up.

First have your house immaculately clean. From the floors to the windows, make it shine and hire professionals if needed. Fix all the things that are broken and need sprucing up in your house. Small repairs such as the leaky faucet and spots that need paint touch ups, etc.

5. Choose Neutral Colours

Think beige, cream and grey for example as colour choices in your home. Bold and bright colours may be a turn off for some people and it is much easier to visualize it as their home with neutral tones, especially on the walls.

While moving is almost guaranteed to be a busy and somewhat stressful experience, moving a long distance has the potential for downright chaos. Here are some tips you should keep in mind when planning your big move.

Be selective when purging – Yes, you definitely will want to get rid of a lot of stuff, especially considering most companies charge by weight for long distance moves. But do a little research before ditching items – if it's more expensive to replace the item in your new city, then it makes more sense to have it shipped.

Truck rental, moving company or moving containers - This is one of the biggest decisions you will have to make. Should you rent a truck and drive your possessions yourself, hire a traditional moving company or are you better off packing everything into shipping containers? Look into each option carefully. Some companies provide no-charge, in-home estimates so you can get an accurate idea of the cost.

Take your time packing – As with any move, there's a chance of items being mishandled. When moving across the country, there's an even greater risk. Wrap furniture well, protecting corners and edges, pack extremely fragile items with bubble wrap or keep them with you and never pack food items, plants or liquids for long distance moves.

Save receipts – If the move is work-related, you may be entitled to a tax deduction come April, so be sure to save a copy of all receipts, from packing materials, to movers, to travelling expenses.

Plan for the worst – You never know what's going to happen from point A to point B, so keep some necessities on hand. Pack a box of essentials to get you through the first week, if the need arises – you'll need a few outfits for each family member, toiletries, blankets and some basic kitchen items.

Decide what to do with your car – Your options are to sell it, ship it or drive it. It's not even an option for a family with a three-month old baby to embark on a 3,000 kilometre road trip but if you're on your own or have older children, a cross-country journey might be an incredible opportunity! Shipping a vehicle is quite expensive but might be the better option if purchasing a new vehicle isn't in the budget.

A driveway can add a lot of value to your home and enhance its curb appeal, making your home looked lovingly maintained and inviting.

The most common driveway surface in Ontario is asphalt. Smooth, black asphalt is easy to shovel, provides an even surface for kids to play, and a clean, simple look. Generally, it is the most cost-effective option and lasts about 10 years. Asphalt driveways require regular sealing to prevent cracks and fading. Patterned asphalt is a relatively new option where a brick or stone pattern is stamped into the asphalt. A cement compound is added on top to provide the colour and texture of brick or stone. This will cost more, but provides a more custom look. Research this option carefully to ensure it doesn't reduce the longevity of your paving.

More expensive than asphalt, concrete provides the same smooth, clean surface that's easy to work with in our climate. Concrete will also need regular maintenance. A sealer every three years or so will help minimize cracks. Concrete driveways can be slippery, so sealants often contain a traction agent. In addition, concrete must have expansion joints cut into the driveway at regular intervals or the driveway will crack. Concrete provides increased longevity for its added cost, lasting 25-plus years. Stamped and coloured concrete is also an option, giving a natural stone look, cobblestone, or even brick to match your home's exterior style.

Interlock driveways are often the most expensive paving option available. Interlock is available in every design and finish you can imagine and at every price point as well. Labour is the real cost as individual concrete, stone, or brick pavers are hand-installed. Longevity is a consideration for this driveway option as well. Oil spills that would ruin asphalt or concrete are an easy fix for interlock. Just pop out the stained pavers and replace them. And if your driveway's gravel base starts to heave after many years, the pavers can be removed and set aside, the base repaired, and the pavers returned once again. Depending on the quality of the pavers, this driveway should last 30 years or more. Interlock is also the most environmentally responsible choice, due to its long life, ability to be repaired, and its permeability. Water can penetrate the driveway into the ground and stay out of storm sewers.

Whatever option you choose, having a well-maintained driveway adds to your home's value.

Spring is here and with it usually comes the itch to do some major household cleaning. If your kitchen is looking a little drab and tired these days, take this opportunity to do a little sprucing up as well and bring your kitchen from boring and outdated to modern and fresh, without breaking the bank!

Start with a fresh coat of paint. It's amazing what a couple $30 gallons of paint can do to a room! Check your local paint retailers for cabinet paint or stains. There are so many new paint formulas on the market just for this purpose – and many where you don't have to prep the cabinets beforehand! No sanding or primer needed – just paint. Can't get easier than that.

Another cost-effective way to update your kitchen is by installing a new backsplash. The job is definitely one even the most inexperienced handyman can pull off on their own, with a little research and a plan of attack. Consider a tin tile backsplash for a unique metallic look, try the new peel and stick tiles that look remarkably like the real thing or try your hand at installing a ceramic backsplash in one of the mosaic tile patterns that are so popular right now.

Replacing your cabinet hardware can have a major impact on the entire look of your kitchen. Door and drawer pulls come in many options, so select carefully to complement your overall design. And if you've selected a modern brushed nickel handle and it doesn't feel harmonious with your old wood doors, consider refinishing the doors using some of the tips listed below.

If your cabinets scream 1970, consider staining or bleaching them to help make them more contemporary. Pickled or whitewashed finishes are currently popular. This is where white pigment is rubbed into an unfinished wood to lighten the appearance of the cabinets. A pickled finish looks great in a contemporary or country setting when applied to a traditional-style cabinet.

Simple DIY fixes, no matter how small, can make a world of difference!

Tax season is here and if you’re like most Canadians, you’d love to find a few ways to keep more of your hard-earned dollars in your pocket. If you’re a homeowner, there are a few tax breaks to look into before filing for the 2015 tax year.

First-time homebuyers can still claim $5000 if they purchased a home in 2015. Qualifying homes include single-family and semi-detached houses, townhouses, mobile homes, condominiums, and apartments in duplexes, triplexes, fourplexes, or apartment buildings. Some co-op housing also qualifies, so it’s worth checking if you bought a co-op property in 2015.

A home purchased by or for a person with disabilities also qualifies for the same $5000 tax credit regardless of how many homes they’ve owned before. As long as the person is qualified for the disability tax credit, they can claim the $5000 homebuyers credit.

Senior homeowners, or those who live with them, can claim the Healthy Homes Renovation Tax Credit for any improvements to a home that help a senior live safely. Available in Ontario only, renovations for wheelchair accessibility, grab bars, railings and other features qualify for this tax credit, regardless of income. The credit is based on 15% of eligible expenses up to $10,000. The new Ontario budget has killed this credit, so 2016 is the final year to claim it.

Additionally, seniors living in Ontario who own their own home can apply to receive the Ontario Senior Homeowners’ Property Tax Grant (OSHPTG). This program allows seniors to receive a $500 per year grant toward their property taxes. You apply each year so seniors applying on their 2015 tax return will receive the grant for their 2016 property taxes.

Work with your tax professional to make sure you take advantage of all of your qualifying tax credits for 2015.

Here are additional resources:

Homeowners: http://www.cra-arc.gc.ca/tx/ndvdls/sgmnts/hmwnr/menu-eng.html

Healthy Homes Renovation Tax Credit:

http://www.ontario.ca/taxes-and-benefits/healthy-homes-renovation-tax-credit

Ontario energy and property tax credit: http://www.cra-arc.gc.ca/bnfts/rltd_prgrms/ntr-eng.html#ptc

Our relationships with other people help define who we are and a good relationship with your neighbour is no different. You have invested a lot of time and money into your home and filled it with your loved ones and your most prized possessions, so why not extend this way of thinking into the community. A strong and safe neighbourhood depends on the people living in it. Investing in a positive relationship will benefit everyone.

Communication

One of the easiest ways to prevent problems is to stop them before they begin. Taking a few minutes to be friendly with a simple hello or a smile can go a long way in developing a good relationship with your neighbours. Be approachable so your neighbours are comfortable coming to you if an issue arises. Being able to talk out problems will go a long way in maintaining your relationship.

Reconcile Problems

Keep in mind your relationship is what you make of it. You should be comfortable approaching your neighbour if there is a problem, but looking at the big picture. A good neighbour is a blessing. Disagreements can happen, but taking the time to work it out will only benefit you in the end.  

Be Respectful

Consider their lifestyle. Being respectful of noise levels can levels can go a long way in cultivating a good relationship. Saving noisy lawn work for afternoons and keeping quieter evenings will help neighbours overlook nights you wish to entertain late. Respect each other’s privacy. Your neighbours don’t want to hear your business as much as you don’t want to share it.

Finally don’t be the person everyone on the block is talking about. Control pets, share parking spaces and maintain your lawn. 

Benefits

Having a good relationship will not only eliminate stress, it will also make your home and community safer. Knowing people around you can give you a sense of security and can make you feel more secure when you are away from home. Not to mention many neighbours become great friends.

If you’re in the market for a new home this spring, a recent change to the rules surrounding insured mortgages might affect you.

The new rule came into effect on February 15, 2016 and will affect buyers shopping for homes with price tags over $500,000.

Homebuyers will now have to put at least a 10 percent down payment on the portion of the price of a home over $500,000. For anyone buying a home for $700,000, that means the minimum down payment will rise to $45,000 from $35,000. Any home under $500,000 still requires only a down payment of five percent and Properties valued at $1 million and above still require a minimum down payment of 20 percent.

The new rule will affect first-time buyers in expensive markets more so than homeowners looking to ‘move up’ to a larger home, as they will have built-up equity in their current home, which they can put towards a down payment on a more expensive home.

Over the past seven or eight years, the federal government has made a number of important changes to insured mortgages.  According to Finance Minister Bill Morneau, the latest change was made to “contain risks in the housing market, reduce taxpayer exposure and support long-term stability.”

If you have any questions about the new mortgage rule, please don’t hesitate to contact me!

One of life’s most exciting events is the purchase of a new home. Whether it’s your first or fifth time, buying a home is always a cause for celebration! It might feel like the hard part is over once you’ve signed on the dotted line but the to-do list is always a long one in anticipation of closing day.

Here’s a look at some items you’ll want to cross off your list:

Before you make an offer:

• Sit down and figure out a budget. Don’t just consider your monthly mortgage payment. As a homeowner, you have to think about property taxes, utilities, maintenance, furnishings and unforeseen expenses.
• Hire a realtor. Ask friends and family for referrals.
• Obtain a mortgage pre-approval to give you a clear idea of how much the bank is willing to give for the purchase of a new home.
• Hire a real estate lawyer to assist with any legal questions that might pop up.

After your offer is accepted:

• Hire a home inspector. Your realtor will likely be able to recommend one they have experience with.
• Complete any conditions included with your offer, like conditional financing or a home inspection. If there are any problems with the conditions (i.e. a roofing issue) you will need to discuss your options with your realtor.
• Visit your lender to confirm financing.  They will want to view your signed Agreement of Purchase and Sale and may conduct an appraisal on the home.

If all the conditions are satisfied, you will have to sign documents stating that each of the conditions are either waived or fulfilled. The offer will then become firm.

Planning your move:

• Obtain home insurance.
• If renting, provide notice to your landlord.
• Notify your current utility companies and contact new ones if required.
• Complete change of address cards or contact Canada Post to arrange for your mail to be forwarded to your new address.
• Set aside funds for closing costs.
• Start packing.

Have a special talent? Your chance to shine in the spotlight is finally here! Auditions for the QP Factor Talent Showcase will be held on 3 different dates but you must first register! 

Auditions will be held:
March 4 and 11 at The Stephen Leacock Theatre, 
130 Gwendolyn Boulevard, Keswick, ON  
AND 
March 18 at The Queensville United Church, 
20453 Leslie Street, Queensville, ON

If you’re a fan of HGTV, you’re probably familiar with the reality shows that depict old, run down houses being transformed into spectacular, renovated dream homes. During an hour-long program you watch as demolition, redesigning, framing, drywalling, kitchen and bathroom installation, landscaping and much more are completed in a whirlwind of activity. Looks easy, right?

It might be! If everything goes smoothly and you’re prepared for some hard work, remodeling a fixer-upper can be a fun, exciting and rewarding process. But here are a few things to consider before taking the leap:

It pays to get dirty – One of the best ways to save money is to roll up your sleeves and complete some of the work yourself. Demolition (tearing out old cupboards or ripping up carpet), refinishing hardwood, painting walls, assembling new cabinets, etc. are all tasks that you can complete yourself, saving on labour costs. Is this something you’re willing to do?

Dealing with undesirable living conditions  - This is if you plan on living in your fixer upper during the renovation process. Washing dishes in the bathtub and preparing meals in a microwave might get old quickly, especially if you have young children.

Unforeseen expenses – Any time you’re dealing with an older home, there is the possibility of a few surprises behind those walls. Even with a home inspection, between plumbing and electrical, foundation and flooring, you never know what you’re going to find! Having a back-up budget just in case renovations do not go as smoothly as planned or unexpected costs arise is always prudent.

Be wary of getting in over your head, financially. Sometimes the cost of renovations, combined with your mortgage and time ends up costing more than the home could ever be worth, based on size, neighbourhood, etc. Even if you plan on staying in the home for years, it’s wise to always be thinking of resale value.

Are you thinking of moving in with your partner? Before you take this massive relationship leap and start picking out furniture, sit down with your sweetheart and have a serious discussion about what buying a home together entails and what your expectations are. Ironing out all the “details” before making any moves will allow your buying experience to be one filled with joy and excitement and help avoid disappointment later on.

The Financial Consumer Agency of Canada (FCAC) offers these tips for couples looking to take the step towards home ownership:

Have an honest discussion - This isn’t the time to sugar coat things - before you combine your finances, it is important to talk to your significant other to get a better idea of their spending habits, income, debts and savings. Discuss the possibility of opening joint accounts (chequing or savings) to cover your essential household expenses or to save money. Whatever choices you make, you should agree on how your joint accounts are to be used, and the amounts you will each deposit into them.

Figure out a budget - Once you have agreed on the lifestyle you would like to have, you can draw up your budget to obtain an overview of your total income, your essential and non-essential expenses and your ability to save. You may not particularly enjoy drawing up a budget, but simply setting objectives, such as purchasing a house or condo and saving for your children’s education if planning to have a family, will motivate you to draw up your budget and, more importantly, to stick to it.

More information about how to draw up a budget is available online on the Financial Consumer Agency of Canada (FCAC) website, fcac.gc.ca.

Source: Financial Consumer Agency of Canada (FCAC)