Peter's Real Estate Comments

2009 Ontario Budget Should Encourage Home Ownership

2009-02-27T13:05:00.000-08:00

REALTORS®: 2009 Ontario Budget Should
Encourage Homeownership
OREA has called on the Minister of Finance, the Honourable Dwight Duncan, to encourage
homeownership and promote greener homes and businesses in his upcoming Ontario budget.
“OREA’s 2009 pre-budget submission recommends policies that will help our economy by
helping thousands of low and moderate income Ontario families achieve their dream of
homeownership,” said Gary Zalepa Jr., Chair of OREA’s Government Relations Committee.
“When people buy homes they spend money on other goods and services, building businesses and
creating jobs.”
OREA’s submission recommends the creation of an Ontario First Time Home Buyers Grant that
would target low and moderate income applicants with down payment assistance.
“From lower levels of crime to the higher educational achievement of children, the benefits of
homeownership to families, communities and our economy are extensive,” explained Zalepa Jr.
“Encouraging homeownership is good government policy.”
OREA’s 2009 pre-budget submission also recommends that the provincial government help more
Ontarians improve the energy efficiency of their homes by strengthening the retrofit rebates under
the Ontario Home Energy Retrofit Program.
“We all have a shared responsibility to protect our environment by reducing our environmental
foot print,” said Zalepa Jr. “By strengthening the Home Energy Retrofit Program, we can help
more Ontario homeowners save money on their electricity bills while reducing harmful emissions.”
For businesses looking to invest in a new building, OREA recommended a new Land Transfer Tax
rebate to purchasers of Leadership in Energy and Environment Design (LEED®) buildings.
“LEED® certified buildings are on the cutting edge of energy efficiency,” declared Gary Zalepa
Jr. “A new Land Transfer Tax rebate for businesses that purchase LEED® certified buildings will
encourage more investment in commercial infrastructure that is good for our environment.”

Taking Advantage of Taxes

2008-11-02T06:08:00.000-08:00

Ontario homeowners have begun to receive updated property
assessments in their mailboxes this fall and given that
the average increase is five per cent, many are concerned
about the impact, should municipalities hike property taxes
in 2009. While property tax is a significant cost of homeownership,
there are a number of tax benefits to be gained
by owning real estate.
The most notable tax benefit of owning a home is the capital
gains tax exemption. Simply put, when you sell your
principal residence, you are not required to pay tax on the
profit you make from the sale.
Another key benefit is the GST exemption on all resale
homes. New homes are subject to the GST however; rebates
for houses up to $450,000 are available. (In the Greater Toronto
Area most builders include the GST in the price of the
house and therefore any rebate is assignable to them.)
If you’re planning to buy a home for the first time, you are
eligible to receive rebates of the provincial and Toronto land
transfer taxes. The maximum provincial land transfer tax
(LTT) rebate for first-time buyers is $2,000 and the maximum
Toronto LTT rebate for first time buyers is $3,725.
Every first-time homebuyer can also make a tax-free withdrawal
of up to $20,000 from RRSPs that have been owned
for at least 90 days, provided the funds are repaid into an
RRSP with 15 years. Some existing homeowners can also
utilize this benefit, called the Homebuyers’ Plan, provided
they are purchasing a home that is more accessible or suited
to the care of a disabled dependent relative who qualifies
for the disability tax credit.
Seniors with an income threshold of $23,820 and others with
low to moderate incomes can get a break on their housing
costs by claiming the property tax credit on their federal
income tax returns. This applies to Ontario residents at least
16 years of age (for whom the Canada Child Tax Benefit is
not being received) paying, or having paid for them, rent or
property tax on a principal residence in the province. The
amount you receive depends on your age and income.
If you’re planning to buy an additional property for investment
purposes, the rental income you achieve is taxable
however; the expenses of operating your rental property are
deductible from your rental income. Expenses such as
property taxes, insurance and repairs on the property can
all be deducted.
When it comes time to sell your investment, any profit you
make will be taxed as a capital gain however; from a tax
perspective, a capital gain is a preferred form of income.
The taxable portion of a capital gain is significantly lower
than income earned by employment, business, interest or
dividends.
As there are many provisions to most tax rules, be sure
to consult your REALTOR® and your financial advisor for
full details. As well, for information on more government
programs for homeowners and homebuyers, visit www.TorontoRealEstateBoard.
com

Maureen O’Neill is President of the Toronto Real Estate
Board, a professional association that represents 28,000
REALTORS® in the Greater Toronto Area. For more information
please visit www.TorontoRealEstateBoard.com.

10 Reasons to Hire a Real Estate Agent

2008-09-13T10:40:00.001-07:00

1) Education & Experience: You don't need to know everything about buying and selling real estate if you hire a real estate professional who does. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. The trick is to find the right person. For the most part, they all cost about the same. Why not hire a person with more education and experience than you? We're all looking for more precious time in our lives, and hiring pros gives us that time.

2) Agents are Buffers: Agents take the spam out of your property showings and visits. If you're a buyer of new homes, your agent will whip out her/his sword and keep the builder's agents at bay, preventing them from biting or nipping at your heels. If you're a seller, your agent will filter all those phone calls that lead to nowhere from lookie loos and try to induce serious buyers to immediately write an offer.

3) Neighborhood Knowledge: Agents either possess intimate knowledge or they know where to find the industry buzz about your neighborhood. They can identify comparable sales and hand these facts to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics. For example, you may know that a home down the street was on the market for $350,000, but an agent will know it had upgrades and sold at $285,000 after 65 days on the market and after twice falling out of escrow.

4) Price Guidance: Contrary to what some people believe, agents do not select prices for sellers or buyers. However, an agent will help to guide clients to make the right choices for themselves. If a listing is at 7%, for example, an agent has a 7% vested interest in the sale, but the client has a 93% interest. Selling agents will ask buyers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, the agent will devise a negotiation strategy.

5) Market Conditions Information: Real estate agents can disclose market conditions, which will govern your selling or buying process. Many factors determine how you will proceed. Data such as the average per square foot cost of similar homes, median and average sales prices, average days on market and ratios of list-to-sold prices, among other criteria, will have a huge bearing on what you ultimately decide to do.

6) Professional Networking: Real estate agents network with other professionals, many of whom provide services that you will need to buy or sell. Due to legal liability, many agents will hesitate to recommend a certain individual or company over another, but they do know which vendors have a reputation for efficiency, competency and competitive pricing. Agents can, however, give you a list of references with whom they have worked and provide background information to help you make a wise selection.

7) Negotiation Skills & Confidentiality: Top producing agents negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It's part of their job description. Good agents are not messengers, delivering buyer's offers to sellers and vice versa. They are professionals who are trained to present their client's case in the best light and agree to hold client information confidential from competing interests.

8) Handling Volumes of Paperwork: One-page deposit receipts were prevalent in the early 1970s. Today's purchase agreements run 10 pages or more. That does not include the federal- and state-mandated disclosures nor disclosures dictated by local custom. Most real estate files average thicknesses from one to three inches of paper. One tiny mistake or omission could land you in court or cost you thousands. In some states, lawyers handle the disclosures, thank goodness!

9) Answer Questions after Closing: Even the smoothest transactions that close without complications can come back to haunt. For example, taxing authorities that collect property tax assessments, doc stamps or transfer tax can fall months behind and mix up invoices, but one call to your agent can straighten out the confusion. Many questions can pop up that were overlooked in the excitement of closing. Good agents stand by ready to assist. Worthy and honest agents don't leave you in the dust to fend for yourself.

10) Develop Relationships for Future Business: The basis for an agent's success and continued career in real estate is referrals. Few agents would survive if their livelihood was dependent on consistently drumming up new business. This emphasis gives agents strong incentives to make certain clients are happy and satisfied. It also means that an agent who stays in the business will be there for you when you need to hire an agent again. Many will periodically mail market updates to you to keep you informed and to stay in touch.

Arshad Khan, Certified Home Inspector - P.Eng.
Qualityspec Inc. "We See What You Don't See"
(905) 231-9882 / (416) 627-4773

*11 Things You Need to Know to Pass Your Home Inspection

2008-08-03T09:17:00.000-07:00

1) Defective Plumbing: Defective plumbing can manifest itself in two different ways: leaking, and clogging. A visual inspection can detect leaking, and an inspector will gauge water pressure by turning on all faucets in the highest bathroom and then flushing the toilet. If you hear the sound of running water, it indicates that the pipes are undersized. If the water appears dirty when first turned on at the faucet, this is a good indication that the pipes are rusting, which can result in severe water quality problems.

2) Damp or Wet Basement: An inspector will check your walls for a powdery white mineral deposit a few inches off the floor, and will look to see if you feel secure enough to store things right on your basement floor. A mildew odor is almost impossible to eliminate, and an inspector will certainly be conscious of it.
It could cost you $200-$1,000 to seal a crack in or around your basement foundation depending on severity and location. Adding a sump pump and pit could run you around $750 - $1,000, and complete waterproofing (of an average 3 bedroom home) could amount to $5,000-$15,000. You will have to weigh these figures into the calculation of what price you want to net on your home.

3) Inadequate Wiring & Electrical: Your home should have a minimum of 100 amps service, and this should be clearly marked. Wire should be copper or aluminum. Home inspectors will look at octopus plugs as indicative of inadequate circuits and a potential fire hazard.

4) Poor Heating & Cooling Systems: Insufficient insulation, and an inadequate or a poorly functioning heating system, are the most common causes of poor heating. While an adequately clean furnace, without rust on the heat exchanger, usually has life left in it, an inspector will be asking and checking to see if your furnace is over its typical life span of 15-25 yrs. For a forced air gas system, a heat exchanger will come under particular scrutiny since one that is cracked can emit deadly carbon monoxide into the home. These heat exchangers must be replaced if damaged - they cannot be repaired.

5) Roofing Problems: Water leakage through the roof can occur for a variety of reasons such as physical deterioration of the asphalt shingles (e.g. curling or splitting), or mechanical damage from a wind storm. When gutters leak and downspouts allow water to run down and through the exterior walls, this external problem becomes a major internal one.

6) Damp Attic Spaces: Aside from basement dampness, problems with ventilation, insulation and vapor barriers can cause water, moisture, mold and mildew to form in the attic. This can lead to premature wear of the roof, structure and building materials. The cost to fix this damage could easily run over $2,500.

7) Rotting Wood: This can occur in many places (door or window frames, trim, siding, decks and fences). The building inspector will sometimes probe the wood to see if this is present - especially when wood has been freshly painted.

8) Masonry Work: Re-bricking can be costly, but, left unattended, these repairs can cause problems with water and moisture penetration into the home which in turn could lead to a chimney being clogged by fallen bricks or even a chimney which falls onto the roof. It can be costly to rebuild a chimney or to have it repainted.

9) Unsafe or Over-fused Electrical Circuit: A fire hazard is created when more amperage is drawn on the circuit than was intended. 15 amp circuits are the most common in a typical home, with larger service for large appliances such as stoves and dryers. It can cost several hundred dollars to replace your fuse panel with a circuit panel.

10) Adequate Security Features: More than a purchased security system, an inspector will look for the basic safety features that will protect your home such as proper locks on windows and patio doors, dead bolts on the doors, smoke and even carbon monoxide detectors in every bedroom and on every level. Even though pricing will vary, these components will add to your costs. Before purchasing or installing, you should check with your local experts.

11) Structural/Foundation Problems: An inspector will certainly investigate the underlying footing and foundation of your home as structural integrity is fundamental to your home.

Arshad Khan, Certified Home Inspector - P.Eng.
Qualityspec Inc. "We See What You Don't See"
(905) 231-9882 / (416) 627-4773

Greening Your Home

2008-05-15T07:46:00.000-07:00

A green home uses less energy, water and natural resources; creates less waste; and is healthier and more comfortable for the occupants. Benefits include lower energy and water bills; reduced greenhouse gas emissions; and less exposure to mold, mildew and other indoor toxins. But, is the extra cost worth the investment?

I will be adding comments regarding specific products for residential use. For example, what are the advantages of a "Hot water on demand" water heater?, or what are the new sustainable wood floors?

Please send in your comments with your experiences.

May 20: I am noticing more tankless water heaters in resale homes. I heard of one major advantage of this type of water heater: If you spend time away from home like going to a cottage for a good part of the summer or going south for the winter, this water heater does not maintain a tank of hot water. This would definitely save money.
At this time the cost of a tankless water heater is approximately $1900, installed. I got this price from a supplier. You would need substantial savings to make up the cost difference.
Peter...

Indoor Air Quality

2008-01-20T08:49:00.000-08:00

Check your air quality

We are now spending the majority of our time in the home. The best way to solve air quality problems is by treating the source of the problem.

You can hire a professional home inspector, who will use instruments to detect contaminants and make recommendations.
The Lung Association provides detailed instructions on how to conduct your own home audit and how to improve the air in your home. It takes you room by room and is quite easy, not very time-consuming and gives you detailed steps on fixing any problems. Visit www.yourhealthyhome.ca or download the association’s Healthy Home Audit brochure.

Keeping it clean is the best defense

These simple steps can help improve your home’s indoor air quality and keep good air from going bad:

1. Don’t permit smoking in your home.

2. Make sure fuel-burning appliances (such as a gas stove, fireplace or furnace) are well maintained and inspected.

3. Make sure every room has adequate ventilation. For example, is your dryer vent blocked or broken? If so, bad air is escaping into your home rather than outdoors as it should.

4. Monitor humidity levels in your home.

5. Fix leaks and cracks in walls, floors and basements.

6. Practice good housekeeping. Consider a vacuum with a HEPA filter to catch small particles: You want to trap dust rather than make it airborne. Central-vacs, which vent the exhaust to the outside are the best to keep from re-circulating dust.

7. Don’t idle your car in your driveway or garage if fumes can get into your home.

8. Ensure that containers of leftover paint are kept tightly sealed and safely stored. As well, try to use unscented and fragrance-free products, or make your own cleaners with baking soda or vinegar.

9. Make sure any furniture made out of particleboard or medium-density fibreboard is sealed or coated. These items may contain adhesives made with urea-formaldehyde resins.
As the Canadian Lung Association reminds us, “When you can’t breathe, nothing else matters.”

Filters are no catch-all

Air filters are an increasingly popular way to remove contaminants and odours from the home. But it still makes sense to eliminate the root causes of poor air quality wherever possible.
If you want to try an air filter or have been advised by your doctor that one could help resolve particular health problems, do your homework. Before you buy, check out the Canadian Lung Association’s recommendations on air-cleaning devices.

Safety Comes First at Christmas

2007-12-04T10:37:00.000-08:00

A Christmas tree is one of the special joys of Christmas.

Some artificial trees manufactured to-day are fireproof, But a real tree that you cut down on your own or purchase from a woodlot is a fire hazard, particularly after it has dried out for a week or so in the house.

Tests have shown that a balsam, spruce or pine Christmas tree of average living room size can become a raging torch and be reduced to ashes in less than 20 seconds.
If using a natural tree, here are some precautions that can be taken to help ensure that your holiday memories remain special.
Use a fresh green tree, not one that has dried out through weeks of storage. A tree can be tested for freshness by rubbing the branches with your hand or by tapping the base of the tree on the ground. If the needles fall off or can be easily pulled off , then the tree is too dry.

Keep the tree outside, preferably under shade until you are ready to use it. Stand the stump in snow or water to maintain the moisture content.

Before bringing the tree inside the house, re-cut the butt diagonally so that it can absorb water, and mount it securely in a large reservoir stand, tub or bucket so that it won't tip over.

Always keep the exposed cut of the tree trunk immersed in water to prevent the tree from drying out. Check the water level daily and add more as required.

Don't put a tree, whether natural or artificial, near curtains, candles, a fireplace, heating vent, radiator, television set or other sources of heat. Never block exits with your tree.

If decorating your tree with lights, use only electrical products and extension cords that bear the Canadian Standards Association (CSA) mark. This is your assurance that such products have been tested for safety against fire and shock. Only use lights that have been designed for indoor use.

Remember - "Clean Your Chimney For Santa"

Smoke alarms are now required on every floor level as well as outside sleeping areas.

Test YOUR smoke alarms and carbon monoxide detectors to-day.

Courtesy The Fire Guy 905 884-4423

5 Important Real Estate Questions

2007-11-16T10:49:00.000-08:00

1 - What are the 10 required steps in any Buyer's Process?
- Call me for a free document listing the Buyer's Process.

2 - Right Sizing Homes: What does is mean for any age buyer?
- Document available as an older post in this blog
- We have moved up more than once and downsized to our current home

3 - What do you look for in an Agent?
- Call me for an honest dicussion of the value of an agent.

4 - Do you need a local agent to buy or sell a property?
- Call me for a discussion on the value of the internet
- My previous career was in the computer industry

5 - Do the following words define your idea of a Real Estate agent: consultant,high comfort level, experience, pleasingly agressive?
- Then call me for some outstanding service with no pressure

Peter Dewsbury
peter@dialthedewsburys.com

Student Housing Safety - Home Investment

2007-08-30T06:38:00.000-07:00

Smoke Alarms
It is the law in Ontario to have working smoke alarms on every storey and outside all sleeping areas. The law applies to single family, semi-detached, townhomes and apartments (including basement apartments), whether owner-occupied or rented. Rooming houses have specific regulations about smoke alarms or fire alarm systems. In addition to smoke alarms within each unit or suite, apartment buildings and student residences operated by the school may also have a building fire alarm system. Make sure the landlord, administrator or super-intendent identifies and explains the fire alarm and detection features in the building and unit.
Carbon Monoxide Alarms
The Ontario Building Code requires carbon monoxide (CO) alarms in new buildings that contain a fuel-fired appliance. However, many existing buildings were constructed prior to this requirement and may not be equipped with CO alarms. If the building has a fuel-fired (natural gas, oil, propane or wood) appliance, a CO alarm should be installed.
Fire Separations
Students often find accommodation in older homes that have been converted to apartments or rooming houses. At the time of the conversion, a building permit should have been obtained to ensure that fire safety features such as proper exits and fire separations between units are provided. Ask the owner if the property complies with the Building Code and Fire Code and to explain the fire safety features.
Exits
It is important to consider how people will escape from a room or apartment in an emergency. Every room or apartment requires adequate exits that will permit unobstructed escape from the building. Make sure to ask the landlord or superintendent to identify all of the designated exits. All windows and doors should open fully and easily. Stairways and hallways must not be used for storage as this can pose serious fire safety hazards. Furniture and other obstacles can physically block exits and may fill hallways or stairways with smoke if they catch fire. This practice must be strictly avoided.
Fire Escape Plans
In a fire emergency, everyone must know what to do and where to go. Large apartment buildings and student residence buildings require a fire safety plan, which informs the occupants about emergency procedures. Ask the building administrator or superintendent to explain the procedures in the fire safety plan. Smaller apartment buildings and houses that have been converted to apartments or lodging rooms may not have a fire safety plan, however it’s a good idea to ensure there are two ways out of the unit. The alternate way out can be a window that can be safely exited in an emergency.
Security
Some property owners install bars on windows as a security measure. While this may seem appealing from a security point of view, it can prevent students from escaping in an emergency situation. Security bars on windows should be equipped with a quick-opening device on the inside so the bars can be removed quickly.
Electrical Safety
Many buildings offering lodging to students are older homes that may not have upgraded wiring. Outlets in bathrooms or within one metre of the kitchen sink should be the Ground Fault Circuit Interrupter (GFCI) type. Consider the number and location of electrical outlets in the room or apartment. There should be enough outlets so that appliances such as lamps, computer equipment and stereos can be operated without the use of extension cords. If extension cords can’t be avoided, use multi-outlet power bars that are approved and provide surge protection and a circuit breaker. Make sure that electrical cords of any kind are not concealed under carpets or rugs where they can be easily damaged. Avoid overloaded circuits and octopus wiring.

For more information:
Contact the administration offices of the college or university. They will frequently maintain a registry of available accommodation for students. Call the local fire department to determine if the building has been inspected for Fire Code compliance.
Electrical safety tips and information about common electrical hazards can be found at the Electrical Safety Authority website at: http://www.esainspection.net/
Fire safety tips and information can be found at the Office of the Fire Marshal website at: http://www.ofm.gov.on.ca/
Cooking
Cooking is the number one cause of home fires in Ontario. If the student accommodation has cooking facilities, there are some basic fire safety rules they must follow to prevent cooking fires:
A stovetop fire can start in a flash, so stay in the kitchen when something is cooking on the stove.
Keep all combustible items a safe distance away from the stove. This includes tea towels, wooden or plastic spoons and paper towels.
Keep a pot lid near the stove to smother
flames if a fire starts in a pot.
Candles
The use of candles is becoming more and more popular, especially among young people. To prevent candle fires:
Use tea lights or votive candles in non-combustible containers.
Place the candles in a location where they can't be knocked over or come in contact with combustible items.
Blow out all candles before leaving the room or going to bed.
Smoking
Fires caused by smoking can be deadly. Even if they don't smoke themselves, chances are the students will have friends that do. To prevent smoking fires:
Encourage smokers to go outside
Keep large, deep ashtrays on hand that will reduce the risk of ashes and cigarette butts falling onto rugs or upholstery
Allow ashes to cool completely before disposing
Electrical equipment
Overloaded circuits and octopus wiring are dangerous electrical hazards that can be avoided. To prevent fires caused by electrical equipement:
Use an approved power bar with a circuit breaker and surge protector to plug in computer and stereo equipement
Avoid the use of extension cords as permanent wiring
Make sure electrical cords are not concealed under carpets or rugs where they can be easily damaged
Space Heaters
The central heating systems in older accommodation is often supplemented with space heaters. To prevent heating fires:
Keep the space heater at least one metre away from anything that can burn, such as paper, bedding, furniture and curtains.
Turn off the space heater before going out or going to bed
Social Gatherings
Parties are as much a part of student life as attending classes. While most student parties are harmless fun, the consumption of alcohol combined with cooking or smoking can create a serious fire risk. To minimize the risk of fires during or after parties:
Avoid overcrowding. The more people attending the party, the easier it is to lose control of the situation.
Encourage guests to smoke outside. Consider putting up no smoking signs that direct guests to an outside smoking area.
Refrain from burning candles during parties. They can easily be knocked over or ignite nearby combustibles, unnoticed.
Smoke Alarms
If a fire does occur, it is critical that the dwelling have working smoke alarms to alert occupants as soon as possible.
The responsibility for smoke alarm installation and maintenance lies with the homeowner or landlord, however it is a good idea for parents to provide their child with a smoke alarm for his or her bedroom.
It is against the law for for tenants to disable or tamper with a smoke alarm.
If a smoke alarm activates due to steam from the shower or cooking on the stove, oven or toaster, ask the landlord to move the alarm to a different location, or install a smoke alarm with a pause feature.
Fire Escape Planning
When the smoke alarm sounds, everyone must know what to do and where to go. Encourage students to develop a fire escape plan, keeping the following in mind:
Know two ways out of every room, if possible. The first way our would be the door, while alternate escape may be a window that can be exited safely. Make sure all designated escape routes are accessible and free of clutter.
Leave the building as quickly as possible. Once outside don't re-enter the building for any reason.
Call 9-1-1 from outside the building using a cell phone or neighbours phone.

For more information the "Fire Guy" Paul Schuster or phone (905) 884-4423
Copyright 2000 © P - C & ASSOCIATES LTD.

2007-08-15T07:40:00.000-07:00

Smart Home Buyers:
Rightsizing does not have to be “Scary”

Whether you are retiring, considering retirement, becoming empty nesters, developing physical limitations or the large family home is just too big to manage and contains more room than required, then making a change can be a daunting process. It’s an emotional time filled with difficult choices – and each decision you make has money riding on it.

Finding the right home to meet your changing needs is hard enough. But knowing how to find the right home is another job entirely.

As agents who have helped countless buyers find their dream homes, we’ve developed this guide to help you avoid the pitfalls inherent in the home-buying process. We’ll show you not only how to make sure you’ve found the right home, but also how to maintain or increase your lifestyle comfort level. In today’s complex, fast-paced market, you can’t afford to learn these lessons through trial and error. The tips contained in this report will go a long way toward making you a savvy buyer.

Tip No. 1 - Know what you’re shopping for before you start

Before you begin shopping, understand that there are two homes there vying for your interest – the one that meets your needs vs. the one that fulfills your desires. In a perfect world, you’d find a home that satisfies both. But since this isn’t a perfect world, you are going to find yourself confronted with choices.

Do you choose the three-bedroom with a room for your extended family (grown children’s family, elderly parents), or the one with the big back yard and deck that’s perfect for entertaining? Is having a big kitchen more important to you that a few extra rooms?

When you start shopping, you are going to find homes you fall in love with for different reasons. That’s why you should list the features you want before you start shopping. Use the form provided at the back of this report, break your list into two categories – “Needs” and “Desires” – and then prioritize the items you come up with.

Understanding what you really need as opposed to what you would like to have will help you keep your priorities straight as you shop around. We’ve seen people fall in love with a home for the wrong reasons, then regret their purchase when the home fails to meet their needs.

Don’t let emotion cloud your judgment. Satisfy your needs first. If you find a home that meets your needs and fulfills some of your desires, so much the better. The important thing is to know the difference before you get caught up in the excitement of the hunt.

Tip No. 2 - Pick a winning team to help you.

From picking a mortgage to finding the right home to inspections to negotiating the best deal, it can be exhausting for even the hardiest souls. That’s why most people have a Realtor in their corner to help with the process of building a successful team. A good agent has the knowledge and experience that comes from years of helping both buyers and sellers.
Most sellers you encounter are certainly going to have professionals in their corner. Having a pro on your team is the best way to make sure you get the best deal and the right deal possible.

Tip No. 3 - Make sure your Realtor knows what you are looking for.

Once you have a clear, detailed picture of the home you want, make sure your agent has the same picture. This communication is critical. Otherwise, you will both waste your time looking at homes you are really not interested in.

Also, make sure your Realtor knows your priorities. Your shared goal is to find a place that meets all of your needs: your Realtor will then try to satisfy as many of your desires as possible.

A good Realtor will ask you several questions about what you’re looking for and what you can afford. And they will listen carefully to your answers.

Tip No. 4 - Hire a professional home inspector

In our experience, spending a few hundred dollars on a professional home inspection is the best investment you will ever make. A professional inspector brings experience in examining a great many homes, good evaluation standards and an unbiased perspective.

Tip No. 5 - You are buying a home for changing needs

Remember the reasons why you are in your current home and how your needs have changed or how they will be changing. For a good part of your lives, you have needed room and facilities for a growing family.

Do you need the same features to entertain your friends as opposed to your children’s friends? Were they using the recreation room for different reasons? Would you prefer a large patio as opposed to the recreation room? Do you need a family room, a recreation room and living room to entertain? It was great to be able to go to a different room from where the children were entertaining.

Do you need less of a garage and a smaller driveway if the number of drivers has decreased or, a larger garage due to a new hobby of collecting cars?

All of these questions have to be listed on the needs list and reviewed with your agent.

Tip No. 6 - Know your mortgage tolerance

Money is the single most important part of buying a house. Your money situation has most likely changed significantly over the years and you may not have a mortgage at this time.

Your move to the right size house may not mean moving to a less expensive house. When considering the location, you will pay more for the waterfront location, the lack of neighbors, access to a marina or any other high demand neighborhood.

You may be coming from a house that you have lived in for many years and where it now requires some major repairs or upgrades. The house could be classified as “dated”. Moving, gives you a chance to get all of the modern features that you have dreamed of.

So, going from a large family home to a more comfortable size home in the perfect location and with the modern conveniences, may cost you more. This may take some of your savings or cause you to add or increase a mortgage. This is a major consideration that you need to discuss with your agent.

Tip No. 7 - How many bedrooms do you really need?

You definitely don’t need bedrooms for a growing family. So what do you really need? Will there only be the 2 of you in the house for the majority of the time? Are you either working from home or retired and both living full time at home? If yes to any of these questions, then the master bedroom should be your focus.

This is your time to get what you want. Don’t compromise on bedroom size. If you are use to a king size bed or want a king size bed, then get a bedroom that works.

If you are downsizing to a bungalow and the main bathroom is being used for guests, then you may want to have an en-suite bath for your own privacy. If you are currently using a separate shower then don’t do without. In some cases, downsizing to a small bungalow may require you to go to get a 2 bedroom option as opposed to the same house with a 3 bedroom option in order to get a large enough master with a good en-suite.

Remember, bungalows have a large footprint giving you a large basement. This can be utilized by putting an extra bedroom and bath in the basement along with other utility rooms that you don’t need on a daily basis: exercise room, games room, crafts room, workshop, etc.

If you have not retired and require a home office, then you need to decide whether you want to work on the main floor or in the basement. If you decide on a bungalow this is where your needs have to be thoroughly defined. 2 bedrooms on the main floor with one being used for an office, then the guests use the basement bedroom.

Knowing the greater cost of a bungalow per square foot as compared to a 2 story house, you may decide to downsize to a 2 story to get the required number of bedrooms with a smaller lot.

Tip No. 8 - Location, location, location!
It will cost you.

How often have you stated “if we move, I want to be close to……”. In most cases, great or desired locations cost money. So you have been thinking that downsizing will save you money. Well here is another case of where it will cost you more.

Being close to a marina or any popular attraction adds value to the property. You would not be the only person with these desires. You do have to determine what your true desires are.

Another consideration is what you do during your free time. You may want easy highway access or you may want to be closer to a cottage as well as being close to your existing popular haunts and being close to your family.

Tip No. 9 - Dining requirements will take some drastic changes

Your kitchen and dining room requirements are changing. You may require or had required room for a family kitchen and enough room for food for a family.

The stocking of food may not be required and a separate refrigerator in the basement may handle your entertainment needs. The extra small freezer may be enough for most of your needs.

Now looking at the number of rooms is a big concern. Can you do without a dining room and utilize a large kitchen? Can you use a smaller kitchen and entertain in a dining room? These are 2 ways downsize.

Tip No. 10 - Your main living area is simpler with 2 people

Also to consider with the downsizing is the need for both a main floor family room and a separate living room. In some cases you will find a great room replacing the 2 rooms. So instead of downsizing both rooms, you can combine them. Without the family at home on a daily basis, you may only need the use of 1 room. If you still are not sure, then add in the use of the recreation room. Now you have 3 that can drop to 2 with very little inconvenience.

A number of new houses have open concepts with the kitchen open to the family room or great room. This works very well with a couple. What there is to consider is the amount of noise in either room that may disturb anyone in the other room. For example, the noise in the kitchen could bother people watching television.

Tip No. 11 - How to separate you living styles to different areas

The basement may take on a whole new meaning and it is now time to take advantage of what you have always dreamed of. Most adult entertaining will be done on the main floor of the house. The dining room, living room, or great room will be where you may want to put your money for upgrades.

The basement, especially with a bungalow, will allow you to put in any hobby that your may have. It is now, not a hiding place for teenagers. This could include the pool table, the dart board, an exercise room, the workshop (one that you only dreamed of) or even an indoor hot tub.

With the size of the basement in a bungalow you can have a spare bedroom and bathroom, along with your hobbies. It also works well if you are using the second bedroom on the main floor as an office.

Tip No. 12 - The master bedroom is both intimate and practical

You have to think about the amount of time you spend in your bedroom and the existing furniture that you have. You may also have a substantial en-suite bathroom that would be difficult to eliminate.

People spend a lot of time during the day either sleeping of dressing or just relaxing. You need to be comfortable. Your cloths need to have room or they will complain. You will have trouble downsizing the closet.

Tip No. 13 - House styles that include the structure

Now with all of the previous considerations within a house you have to determine which style best fits your needs.

There are advantages to a bungalow with main floor access to all rooms. If you or any family members have problems with stairs, this does help accommodate them. It is very
convenient to be able to go from room to room if you are living and/or working from home on a full time basis.

The bungalow also allows you to have a very large basement to do whatever you want. You will have room for storage, especially if you are moving from a larger house or if you are still storing you children’s stuff. You can have any hobby you want as defined earlier.

The advantage of a 2-story, is cost per square foot is less and you require less property to put the house on. You can get a townhouse the same size as a bungalow on half the property. Property costs both in initial costs and with taxes.

Tip No. 14 - What can you tolerate with right sizing?

With the right sizing of any house and with what we just reviewed, you have to determine how much less house you would be satisfied with.

Tip No. 15 - Is the garage for hobbies or just storage?

What are you planning on using the garage for?

If you spend a lot of time in the yard you may need extra room for garden equipment. As we age, we like to get more power tools or riding lawnmowers. Where are you going to store the equipment?

Some of us have hobbies that include cars. Will you go for a third vehicle that gets stored for the winter? Will you want the 3 car garage or can you even get one? One consideration that gets overlooked is the size of the newer garages. Some have corners cut off for house living areas and all of the newer garages are smaller. If you even consider a classic full size car, you may have trouble putting it in the garage.

Tip No. 16 - Don’t be pressured into a quick deal

While you want to move expeditiously once you are in negotiations, don’t let the other side pressure you into a quick close. It may be a sign that there’s something you should know, but don’t. And the reason could be worth money.

Tip No. 17 - Know your hidden costs

There’s more to buying a home than the mortgage. Don’t forget to factor in inspection fees, transfer taxes, title insurance, and every other dollar you will have to spend in order to know what you are really paying for your new home. Review these items with your agent.

Now armed with this knowledge, you stand a much better chance of avoiding overpaying for your home.

As you can imagine, there is no learning curve that forgives mistakes made during the home-buying process. If we had to choose only one tip from the several we just listed, it would be this: get yourself a good Realtor – someone whose sole interest in the deal is to watch out for your interest. If you take this advice, the rest will follow. A truly sharp agent will make sure that you follow all of the other suggestions that we have included in this report. And please feel free to use the checklist we’ve supplied with this report to help in your home search.

Please feel free to call me if you would like further explanation of any of these topics, or if you have any real estate questions at all. I simply see my mission as striving to be as helpful as I possibly can to area home owners. I hope this special report provides the information you need to be an informed home buyer.

Peter Dewsbury
peter@dialthedewsburys.com

www.DialTheDewsburys.com
Sales Representative
Sutton Group-Heritage Realty Inc.
905-619-9942

Your Home Buyer’s Comparative Shopping List: Needs vs. Desires

My Needs in a Home WHAT DO I ABSOLUTELY NEED IN MY NEXT HOME

1. _____________________________________________________________________
2. ___________________________________________________________
3. ___________________________________________________________
4. ___________________________________________________________
5. ___________________________________________________________
6. ___________________________________________________________
7. ___________________________________________________________
8. ___________________________________________________________
9. ___________________________________________________________
10. __________________________________________________________

My Desires in a Home WHAT DO I ABSOLUTELY LOVE IN MY NEXT HOME

1. _____________________________________________________________________
2. ___________________________________________________________
3. ___________________________________________________________
4. ___________________________________________________________
5. ___________________________________________________________
6. ___________________________________________________________
7. ___________________________________________________________
8. ___________________________________________________________
9. ___________________________________________________________
10. __________________________________________________________

Creating curb appeal!

2007-08-03T06:25:00.000-07:00

They say you can’t judge a book by its cover. But when it comes to houses, the exterior can be just as important as the interior if selling or buying.
When selling, it is the outside, or the home’s curb appeal that often determines whether the inside is ever seen. How a house 'shows’ from the street can tell a potential buyer a lot about what it may be like inside. Even if the inside is the sparkling, charming, structurally sound dream home they’ve been searching for, a buyer is not going to forget a cracked driveway, fallen shutters, overgrown grass and flower beds.
That’s why most REALTORS recommend a house not be seen for the first time at night. If you have no choice but to view homes at night, always be sure to drive past them during the daytime before making any final decisions.
For sellers, there are many ways to enhance the exterior of a home to achieve the curb appeal necessary to attract prospective buyers. Start by taking a close, objective look at your home from the curb. Be sure to view it from different angles. Ask friends and neighbors for their unbiased opinions. What are the appealing features? What’s not so appealing? What can you do to improve its appearance?
Are the shrubs untrimmed? Are there broken doors and windows, loose screens and railings? Does the exterior trim, or entire surface, need a paint job?
The interior may be clean, without a leaky faucet, cracked floor or loose door hinge in sight. But if the exterior roof, gutter, walls, driveway, garage and yard look dirty and untidy, chances are you’re not going to get a lot of potential buyers knocking at the door.
Creating curb appeal is making your home inviting from the outside -- where first impressions begin. This doesn’t mean spending a great deal of money remodeling and renovating. Adding a new front verandah might add a lot of curb appeal, but so will a couple of wicker chairs and potted flowers by the front door - at a lot less cost.
Here are some more tips for making the outside of your home attractive and inviting:
Clean up the yard Mow the lawn, trim the hedges, weed the flower beds, get rid of dead trees and shrubs; get rid of any broken lawn furniture; shovel the walk and driveway in winter; rake the yard in the fall.
Repair any problems If the roof is damaged, repair it. Also repair any doors and windows that have loose hinges or other damage; fix storm doors and window screens; caulk window exteriors; clean and repair sidings and other structural flaws.
Eliminate clutter If you have yard and construction debris piled up along the side of the house, or elsewhere, get rid of it. The exterior of your home should be as uncluttered in appearance as the interior. This includes cleaning out the garage - a major breeder of clutter. Be ruthless. If you haven’t used something in a year, give it to charity or recycle it.
Give siding a fresh new look Cleaning the exterior surface is all your home may need for a fresh new face. Before rushing to paint siding, try washing it. For painted wood siding and aluminum siding, use a solution of one cup strong detergent and one quart chlorine bleach in three gallons of water. Be sure to wear rubber gloves, goggles and other protective garments. Work from the bottom up and rinse thoroughly.
To spruce up vinyl siding, hose it down, sponge it with a mild liquid detergent and rinse.
Use paint to brighten, re-proportion exterior A paint job can do wonders for the exterior of a home. A low house can look more graceful and tall from the curb by emphasizing its vertical features. Paint elements such as doors, shutters and corner trim in a color that contrasts with the siding material or color. On a high home, emphasize horizontal by using a contrasting paint color on window sills and fascia boards. You can also make a tall house look lower by painting it a dark color, provided that the roof is dark too. Conversely, a light color will make a home look larger.
Co-ordinate the exterior 'look’ The more co-ordinated your house looks from the outside, the more appealing it will be. Co-ordinate the 'look’ of your home by painting the garage, tool shed, playhouse and other outdoor structures with the same color schemes as the house. If your house is a mixture of conflicting textures - vertical siding, shingles and brick, for instance - try painting them all the same color, or in two related shades of the same color, to create a harmonious look. Dark tones work best when working with conflicting textures.
Use flower power Well-placed flowers, trees and shrubs can really make the outside of a home look inviting. Not only does attractive landscaping invite buyers, it can increase the value of a home. Even without major landscaping, flowers can make a yard look colorful and pleasant. Plant them in garden beds, hang them from railings and porch ceilings, add flower boxes to window sills. There is no limit to the power of flowers.
At night, highlight garden features with spotlights and floodlights. Well-lit paths and entrances promote safety, discourage burglars and are an added feature to any home. A pretty wreath on the door and a welcome mat will finish things off. Source: OREA