Edmonton Real Estate Blog

Winter is here and you have already pulled out your warm, woolly sweaters, hats and mitts.  Sure, you might be prepared for the cold, but what about your home?  It’s about time we all got our homes ready for winter – eco-style.  Conserving energy is one of the best things you can do for the environment and your bank account, as it can help reduce your utility bills as well.

Here are 10 ways to prepare your home for the cold months ahead while treading lightly on the Earth:

1) Automate
Almost half of a home’s energy consumption is due to heating and cooling.  If you turn your thermostat down by just one degree, you will save energy and up to ten per cent on your home heating bill.  And, for each degree you drop below 20 degrees Celsius during colder weather, you will save three to five per cent more on heating.  An easy way to control temperature is to install a programmable thermostat that automatically adjusts to cooler temperatures during the day when you are at work or at night when you are sleeping.

2) Assess
In many homes, an enormous amount of energy is wasted as heat radiating from the furnace quickly escapes out of cracks and windows.  A home energy audit can help assess how your house uses energy while prioritizing actions you can take to make it more efficient and comfortable.  The federal government offers assessment and grant programs as incentives to homeowners who make changes to improve energy-efficiency.

3) Eliminate drafts
Draft-proofing will keep you warm while saving energy and money. It has been said that if you add up all the cracks and the gaps between doors and windows in an average home, it is equal to leaving one window open.  To help stop drafts, install weather-stripping around doors and caulk cracks around windows.  During the winter, air conditioners installed in windows can be a large source of cold drafts.  It’s always a good idea to remove window units during cold months or, if you must leave them in, insulate them in tight-fitting covers available at most home improvement stores.

4) Lower water temperature
Your water heater is the second largest energy consumer in the home.  Turn it down to 60 degrees Celsius, the minimum storage temperature, to conserve power and you will still find yourself with plenty of hot water.  To save even more energy here, consider wrapping your water heater in an insulating jacket that can save up to 10 per cent on water heating costs.
5) Keep it closed
Closing your curtains in the evening will help stop heat from escaping through windows.  Keeping closet doors and dresser drawers closed is also a good idea as it prevents heat from entering areas that do not need it.  If you have rooms in your home that you don’t use, you may consider closing the doors and, depending on the type of heating your house has, blocking vents or turning off electric heaters.

6) Timing is everything
When you are preparing some delicious cuisine in the kitchen this winter, be sure to time your cooking so that everything you are making can go into the oven at the same time.  This will decrease the overall amount of energy that the oven needs to cook your meal.

7) Insulate
Save energy and feel more comfortable by increasing insulation in the perimeter walls and ceilings.  Look for eco-friendly recycled materials with no added formaldehyde when shopping for insulation.  By insulting the cavity walls in your home, you can save up to 15 per cent on your energy bills.  Most homes built after 1920 have external walls which consist of two layers of brick with a small gap between them. Filling the gap with insulating material significantly decreases the amount of heat that escapes and helps to create a more even temperature throughout the home.  Attic insulation prevents up to 15 per cent of a home’s heat from escaping through the roof by acting like a blanket, trapping the heat as it rises from the house below.

8 ) Radiant flooring
Radiant floor heating systems increase indoor air quality because unlike forced-air systems, they don’t blow dust and other allergens around your home.  They have warm water circulating in flexible tubing that is installed below the floor allowing heat to radiate upwards providing quiet, steady warmth while using less energy.  This project may have to wait until you are renovating as it can be pricey depending on the area you want to cover, but if the opportunity and funds arise, it will pay off in the long run.

9) Your furnace
Clean or replace your furnace filter as recommended, especially during months of heavy usage. Energy is lost when hot air furnaces have to work harder to draw air through dirty filters.  You may also consider purchasing a new furnace.  There are furnace models available now that are 25 per cent more efficient than they were back in the 1980s.

10) Double up
Installing double-pane windows involves a bigger investment, but it can cut the heat lost through windows by half.  Some of the government programs mentioned above will subsidise a percentage of the cost of the windows if your assessment concludes that new windows will make your home more energy efficient.  If you don’t think a new set of windows will work for you right now, a simple and effective seal for your existing single-pane aluminum windows (at a fraction of the cost) is clear plastic.

Getting your home winter-ready can make a large impact on both the environment and your utility bills.  It’s certainly easy to turn up the thermostat and have your furnace pump out the heat, but it’s crucial to consider the environmental impact.  There are many small things you can do around your home to make it more energy efficient.  Larger projects may seem costly to implement at first, but if you use the government programs available and look at the big picture, you will see it is well worth the money and the effort for you and the planet.

By Selene Wilkinson, ND

These easy tips on staying warm as the season cools can save you money

Finding ways to cut your electricity bill doesn’t have to be complicated. In fact, it’s the simple choices we make that can have a biggest impact. In Adria Vasil’s new book, Ecoholic Home (being released just in time for winter!), Canada’s favourite “ecoholic” reminds us that cracking down on old energy-wasting habits around the house will ease the drain on your already-suffering bank accounts. “Just ask your grandparents,” she writes. “Savings energy, saving resources-saves you money.” Plus, reducing your energy needs will ultimately benefit your whole community.

So try these 10 small things before the snow flies:

Tip #1: Crank Down.

In winter, turn your thermostat down by two degrees and wear a sweater. It will save you $180 per year on your energy bill (and just think of the huge energy saving around the province if everyone did this).

Tip #2: Fill Up

Ensure the dishwasher is full before you turn it on. Dishwashers are more energy and water efficient when full. Researchers have also found the machines consistently do a better job-with less water-than hand-washing.

Tip #3: Morning Retreat

A low-flow showerhead requires less water and, by extension, needs less heat to warm the water. You can also insulate your water tank and set the thermostat two degrees lower to save energy. The range should be from 60 degrees Celsius to 65 degrees Celsius. If you have a set thermostat, this range is midway between “warm normal” or “low medium”. We assure you, you’ll never notice the difference!

Tip #4: A Cooler Cool

Simply cleaning the condenser coil on your refrigerator can improve its efficiency. And the next time you’re replacing a refrigerator, look for an ENERGY STAR model, which typically has a more energy-efficient compressor, better insulation and temperature controls that offers energy savings that conventional models can’t.

Tip #5: Clean Heat

Cleaning your furnace filter every two months can increase its efficiency by 50 percent.

Tip #6: Time it right

Install a timer on your water heater and furnace to turn it off at night and back on just before you wake up in the morning. Few people realize that waiting to do electricity-heavy activities (such as laundry or showering) before 7 am and after 10 pm can hugely reduce your energy requirements and costs. (In fact, some provinces now raise electricity rates in the daytime (prime time), making it smarter than ever to wait until it’s late to run your appliances.)

Tip #7: Be Caulk-y

Before you feel the full force of winter, weatherproof your home. Make sure you have enough insulation, get double-pane windows and caulk any cracks. You’ll get rid of those uncomfortable drafts and save money that was flowing out of your home with the heat.

Tip #8: Vampires Beware

Unplug home electronics when you’re not using them. Most of them have features that make them easier to use-instant-on TVs, for instance-that also suck up electricity, even when they’re not in use to the tune. This can amount to $75 in energy costs per year. Be sure to turn off your computer, too.

Tip #9: Dry Smart

Dry two or more loads of laundry in a row to take advantage of an already warm dryer. Remove clothes from the dryer when they’re still warm to prevent wrinkling. And clean the lint filter before every load. A clogged filter can increase energy use by up to 30 percent and also present a safety hazard.

Tip #10 Light solutions

Replace your home’s incandescent light bulbs with CFL or LED bulbs. You’ll save energy with the lower wattage it takes to power the bulb but also from reduced cooling costs-incandescent bulbs give off 90 percent of their energy as heat.

By Green Living Online

The cold, wet stuff has a way of ar­riving without regard for our busy schedules. It’s not a problem if the only items on your to-do list are making snow angels and taking a nap, but if you need to clear the path to the car quickly-and drive off safely-it pays to prepare. Start with the right equipment and deicers, then stick to these time-tested removal methods. You’ll be on your way-or back inside making cocoa-in no time.

Before the ground freezes… drive tall stakes around plant beds near paths and driveways so that you know where to stop shoveling.

Pro Tip: “If your shrubs get loaded down with snow, leave them alone-you’ll do more damage trying to shake it off.” –Rick Kier, president, Pro Scapes Landscape and Lawn Care, Jamesville, N.Y.

Look for a shovel… with a lightweight plastic or aluminum blade coated with a nonstick finish to make loading and unloading a breeze. Avoid a blade so big you’ll be tempted to overload it; an ergonomic, S-shaped shaft will save your back by requiring less bending. Avoid using metal blades on softer materials, such as wooden decking. A pusher-basically a shovel with a C-shaped blade-is handy for clearing lightweight, fluffy snow.

Pros recommend… shoveling several times, even while it’s still storming, so that snow doesn’t get a chance to bond to surfaces. (It’s also a lot easier to shovel 2 inches of snow than 5.) Get down to the pavement beneath so that sunlight can warm it up and prevent ice from forming.

Don’t heap snow… on foundation walls, where melting water can refreeze and cause cracks to widen, or against anything made of wood, which is also susceptible to water damage.

Rock salt is cheap… and works at temperatures above 12 degrees F, but it’s tough on shrubs and grass and can eat away at concrete. Two other salts, magnesium chloride and calcium chloride, cost more but are less harsh (though still not great for plants) and work at much lower temps than rock salt (from 20 to 25 degrees below zero F). Still pricier is a nonsalt option called urea. It’s usually used as a fertilizer, and it can be a little tough to find. Wear gloves when spreading any deicer by hand. For large areas, use a handheld spreader or a push spreader, but not a grass spreader (the deicing granules will gunk up its gears). Store deicers off the floor or in a sealed bucket to keep them dry.

Use sand or kitty litter… to add traction to slippery surfaces. Choose sandbox sand over mason’s sand, which is too fine. Or try alfalfa meal, a slow-acting fertilizer that also helps melt snow-your yard will thank you.

A snowblower is quickest… to clear large flat areas. Use one when there’s at least 11/2 inches of white stuff on the ground. Before each use, spray the exit chute with silicone to keep snow from sticking (furniture polish also works). When you’re done, let the machine run for a few minutes to dry out, which will help prevent vital parts from being damaged by freezing. Then drive carefully-or stay home and build a snowman with the kids.

Source: Sal Vaglica, This Old House Magazine

Time is running out to qualify for Ottawa’s $1,350 home renovation tax credit, and you have even less time to make use of year-end tax strategies. So here a few timely reminders.

You have until Feb. 1 to spend $10,000 on qualifying items or work to earn the maximum renovation credit, and more than $1,000 to get any of the 15 per cent tax credit. Qualifying expenditures include repairs, alterations and preventative maintenance for a home or apartment suite you own, including the cost of labour, materials and equipment rentals.

Remember that labour costs for home repairs, as well as the cost of heating your home, will be going up next July 1 when Ontario adopts the harmonized sales tax.

But going into debt to renovate, insulate or replace a furnace – particularly credit card debt – will negate some of the value of the tax credit.

Anyone who bought his or her first home after Jan. 27, 2009, will be eligible for a $5,000 federal tax credit, which would put $750 back in your pocket, but only temporarily because you now own a house.

Anyone who turns 71 this year should remember to transfer money from their registered retirement savings plans to a registered retirement income fund or annuity before the end of the year. If you don’t, the RRSP will be taxed as though it was all withdrawn as income in a single year.

If you turned 55 or older this year you will now be eligible to convert locked-in money from a former employer’s pension plan to a life income fund (LIF), and start withdrawing a prescribed minimum or maximum as regular income.

It would be better to wait as long as possible before age 71 to start spending retirement savings, particularly in the wake of the investment losses of 2008 and the low rate of interest paid on investments.

But these are hard times and Ontario does permit a one-time withdrawal of 25 per cent of a new LIF for whatever reason. After Jan. 1, Ontario will also permit a second withdrawal of 25 per cent or an initial withdrawal of 50 per cent.

In addition, you may apply for withdrawals from locked-in accounts that have small amounts of money or if you are in financial hardship. See www.fsco.gov.on.ca for details or call the Financial Services Commission of Ontario.

Executors and heirs should be aware that losses on registered savings that occurred after the death of a person in 2009 or later, and before distribution of the estate, may be carried back and counted as a reduction in the taxable income that would have been declared on behalf of a deceased person who had no surviving spouse or dependant.

Things that must be done before Dec. 31 to qualify for a tax refund next spring include making charitable and political donations, paying post-secondary tuition, buying monthly or annual transit passes, spending up to $500 per child for eligible sports and fitness programs and paying charges for a safety deposit box.

If you operate a business, the end of the year is a good time to purchase computers, cars and other equipment for which you may claim a capital cost allowance. The entire cost of a computer purchased after Jan. 27, 2009, and before February 2011 may be written off in the first year.

Parents and other relatives who want to see children in their family obtain a post-secondary education have until the end of the year to contribute to a registered education savings plan. You will not get a tax refund, but the child will qualify for a federal grant equal to 20 per cent of the contribution, or substantially more if the parent contributing has a low income.

To make the most of that government assistance, be careful to consider the sales and management fees that will be deducted from investments. Bonds and other safe investments are not earning much of a return these days.

Anyone investing outside of an RRSP should be careful about buying mutual funds that may pay a taxable year-end distribution of recent investment gains.

If you have sold investments at a profit this year, and have no losses to carry forward from previous years, consider selling investments before late December that would produce an off-setting capital loss.

Be sure to wait more than 30 days before repurchasing the investment sold at a loss or it will be considered a superficial loss. There may be situations where a superficial loss might be advantageous to a couple, but seek professional tax advice first.

One thing you may be asked to consider at this time of year is any pitch for tax shelters built around some charitable activity.

You may get a tax refund before Canada Revenue gets around to checking out the scheme, but tax authorities have made clear they will eventually hunt down and disallow every one of them.

 Source: James Daw from Yourhome.ca

Watch for costly money mistakes. Every dollar you avoid throwing away brings you a step closer to your financial goals.

When it comes to money, most of us like to think we’re pretty sharp. We know enough to comparison shop, stay out of debt and set up some sort of savings plan. Sometimes though, we just get things wrong.Last year, Consumer Reports highlighted how making poor choices can cost you. Some of the blunders identified were more applicable to U.S. investors but here are a few that apply equally in Canada.

Investing too conservatively during retirement
Conventional wisdom suggests that as you age, you should shift money out of stocks and into more stable investments, such as bonds. For instance, a popular rule of thumb is to subtract your age from 100, the difference being the percentage of stocks you should keep in your portfolio. Being too cautious once you retire can hurt you though, Consumer Reports suggests. Annual returns on bonds may barely keep pace with inflation, while stocks typically provide returns that do.

* Even in retirement, be sure to keep as much of your money in stocks as your comfort level allows.

Retiring too early
Attractive as it may seem, early retirement may mean leaving too much money on the table. First, you give up income you would have earned during what might be the best-paid years of your career. Retiring early can also result in sharply reduced pensions, including CPP, as well as lost benefits. Since OHIP and other provincial plans don’t cover many health costs, you’ll have to search out individual health insurance at an age when costs are much higher.

* If you’re in good health and have a choice about when to retire, consider waiting until you’re a bit closer to full retirement age.

Getting divorced
If divorce is unavoidable, make sure you take steps to reduce the financial impact. Hiring lawyers can ensure everyone’s interests are represented, but the more issues spouses want to contest, the more billable hours they face. Consumer Reports found that a low-conflict divorce can generally be mediated for about 75 per cent less than going to trial. Since the intensity of the conflict is the major driver of legal costs, work more toward diplomacy than war. Lower-cost mediation works best when both parties are on a fairly equal financial footing and are able to work together without acrimony.

* Property settlements generally mean a 50-50 split in most provinces. Find a way to get along on custody, the most contentious and therefore expensive issue.

Adopting a healthy lifestyle
Unhealthy habits mean higher life-insurance premiums. Consumer Reports compared the costs of a $1 million term insurance policy for a 40-year-old, healthy male with one who had one of several risk factors often associated with poor health habits, including smoking. The additional costs in premiums for higher-risk men worked out to roughly $42,000 over the subsequent 20 year period.* Before applying for life insurance, consult a doctor about the best ways to bring your vital stats in line with the “preferred plus” underwriting requirements.

Underfunding your retirement
The only way to make RRSPs really work is to start contributing early. A longer time horizon creates more tax-deferred income through the power of compound interest. Look at it this way: At age 20, George makes his first RRSP contribution – depositing $1,000 into his plan and contributing the same amount each year until age 65. Assuming an average rate of return of 5 per cent, the value of George’s RRSP at 65 is $167,685. His older brother Raymond doesn’t get started in an RRSP until he’s 30 years old, depositing the same $1,000 and making the annual contributions until age 65. At the same return but with less time to compound, Raymond will end up with just $94,836 – $72,849 less than his little brother.

* Contribute as much as you can afford to your RRSP and don’t miss out on the catch-up provisions if you fall behind.

Underinsuring a home
If you’ve lived in the same house for at least 10 years, it’s likely worth much more than you paid for it. But if you haven’t updated your homeowners insurance and disaster strikes, you could lose those gains. Some insurers automatically increase your policy limit each year to reflect inflation changes but others don’t. Be sure to review specific items as well. For example, if you purchased extra insurance coverage a few years ago for a high-end bike, you may want to reconsider now that the bike has depreciated in value.

* Check out an inflation-protected policy. Make sure it would pay to rebuild according to the current housing standards in your area.

Carrying a credit card balance
Owing money on a credit card is a costly mistake that can take an incredible toll. If you have a card with an interest rate of 15 per cent and you pay only the minimum due each month, it will take you 22 years and 2 months to retire a $5,000 debt, and you’ll have paid $5,729 in interest, CR calculates.

* Use credit cards for their convenience but plan to pay off the balance in full every month.

By Gordon Powers MSN.ca

With many homeowners opting to take advantage of the Home Renovation Tax Credit by fixing up or remodelling their homes, it’s always wise to educate yourself on signs of contractor fraud to ensure you don’t end up paying for work that never gets completed.

Following are five red flags that may indicate a contractor is not legitimate:

1. The company does not list a number in the phone book. This may indicate a fly-by-night operation that will be here today and gone tomorrow. They may seem legitimate in the beginning but, as soon as you make your first payment for the job, they may vanish.
2. Asks you to pay for the entire job up front. This contractor will be long gone well before your project gets underway. Or, worse yet, the contractor may have started the project, leaving you with a ripped up home and depleted funds.
3. Only accepts cash. A legitimate business should have the appropriate financial accounts in place to accept a variety of payment options from clients, including personal cheques and credit cards. If a contractor only accepts cash, you probably won’t see them again once they receive a payment.
4. Solicits door-to-door. Most legitimate contractors find enough work through word-of-mouth referrals and advertising. If they need to drum up business by going door to door, they probably are not an established, local operation. Chances are this contractor is running a fly-by-night business.
5. Offers exceptionally long guarantees. The contractor may be making promises that can’t be kept solely to sucker you into hiring them for the job. The contractor could be inexperienced or may be running a fly-by-night business.

The best way to protect yourself from contractor fraud is to seek referrals from people you trust who can vouch for the contractor including friends, family, colleagues or your mortgage or real estate professional.

It’s also important to read and understand every word of a contract before signing it. If you don’t understand something, ask for clarification.

Also keep in mind that you should never sign a contract with a service professional who makes promises that sound too good to be true. Chances are, this contractor needs to create these incentives to attract customers. If that’s the case, the contractor’s record can’t speak for itself.

Be especially wary of contractors who try to scare you into signing for repairs that they say are “urgent”. Before agreeing to any additional costly repairs, seek a second opinion.

If you’re thinking of embarking on some home improvements, feel free to call me to discuss financing options. I may even know of a trusted contractor in your area who could get the job done well.

Article Provided by: Souchita Rattanarasy of Dominion Lending Centres Optimum (780) 932-2225

What’s the most common mistake people make when they choose a painter? Are premium brands worth the price? Get all of the answers right here from our pro.

What makes you crazy when estimating a job?

JOE NICOLETTI : The assumption that my time doesn’t matter and that I’m ready, willing, and able to offer advice at great length and at no charge. And then when I give the estimate, to be told, “No, I think I can get it done cheaper.” A lot of people shop painters not just to compare price, but also to steal ideas that they then will turn around and do themselves, or ask their grandmothers to do for them. My antenna goes up as soon as I suspect it. I don’t want to do that dance.

What’s the most common mistake people make when it comes to choosing a painter?

Hiring the cheapest guy, and then expecting too much. Or hiring the guy you think you can take advantage of, and then having to make all the decisions yourself.

How much prep work should I expect?

It depends on how many moving parts a room has. Let’s say it has chandeliers, fireplace paraphernalia, alarms, window locks. We catalog and photograph each item before either removing it or securing it from any damage. Then when we put everything back in place, it’s an easy check to see if anything was damaged.

Do you believe in brushes, rollers, or sprayers?

You need a combination of all three. Some of it’s logical, some a judgment call the painter makes. In most cases, for instance, you wouldn’t use a sprayer on trim. The key is not only to use fine brushes, fine rollers, and the best airless sprayers, but also to keep them absolutely clean. Dirty brushes or rollers will leave streaks, and a dirty sprayer will spray unevenly.

Do you paint the trim first, then the walls?

Every situation is unique. Is there a builder involved? Other tradespeople? Are the rooms loaded with fine architectural details? Do the clients have particular preferences? Some ask you to paint the walls first – they want the instant gratification of fast change. Others want to gauge the look of the trim work before anything else is done. Typically, though, it makes the most sense to start with the ceilings and the walls, and move on to the molding, door trim, doors, and baseboards.

What are the best paint finishes for different surfaces?

Anything goes these days. High-gloss oils on walls? Why not! Metallics on glass? Sure! But if you’re asking what the standard is, I’d say satin or semigloss for doors, molding, and trim, and flat for walls and ceilings.

Is it worth paying more for the premium brands?

The premiums spread more smoothly and adhere to surfaces better. They require fewer coats to get that nice uniform appearance. They tend to last longer. They’re more resistant to the normal dirt and staining that comes from everyday life, and they generally hold up to repeated cleanings much better.

What’s your feeling about “green,” nontoxic paints?

I think “green” is an overused word, and a little overblown. A relatively low percentage of clients ask for low-VOC or non-VOC paint. Frankly, a lot of people consider the level of toxic emissions in paint a negligible risk factor.

How many coats will I need?

A primer is a must. And generally two or three coats, depending on the condition of the surface.

How long before I’ll need to repaint?

Barring fires or floods or a rambunctious dog, you could go from five years to forever – with normal touch-up maintenance.

What should I do if the painter is midway into a job and I realize the color is all wrong?

Don’t hesitate. Tell him. In most cases, he’ll do it over for a minimal charge if the change isn’t too extreme. If it’s lacquered red and you decide you want white latex flat, that’s going to cost more.

Should I get a written warranty?

Every job should have a signed contract specifying what you’ve agreed to. It helps avoid misunderstandings, disappointments, and unrealistic expectations.

How do you manage a client’s expectations?

Communicate. Show them you’re listening. Be willing to make changes as the job evolves. Don’t get locked into an adversarial relationship. You’re on the same team.

What can I do to make life easier for you?

Be open to my suggestions. Make me feel like a partner, not an employee. Sure, I want to make money, but I also want to do good work, feel a sense of accomplishment and pride and, yeah, even have some fun along the way. Tell me every once in a while, “Hey, that’s really looking good.” And when the job is done to your liking, say “Thanks.” Makes a world of difference.

By John Montorio HouseBeautiful.com

Three projects that will give you the biggest return on your investment…

The Kitchen

The kitchen is the best place to put your money, hands down. According to the Appraisal Institute of Canada, the average amount home-owners should spend on a kitchen reno is about 10 to 15 per cent of the overall value of their home. If you’re renovating the kitchen for personal use and not only for the purpose of investment, and if you are going to live in your house for more than five years, then you should spend 15 to 25 per cent or more. In most cases, you will recover the cost by the time you sell your home – with a 44 per cent higher return on investment than the average.

What do buyers look for?

• space, functionality and effective, well thought-out storage
• granite countertops create elegance, plus its resistance to scratches and easy maintenance make it ideal for everyday use
• quality – don’t skimp on appliances or labour – having the job done well is a value adder; doing it poorly may reduce the value of your home!

The Bathroom

After the kitchen, bathrooms are the next key space potential buyers look at. A study from Canada’s leading real estate companies shows that a well-designed bathroom renovation can generate up to a 56 per cent better return on investment than the average. Usually a bathroom renovation involves the complete replacement of existing finish and fixtures – tubs/showers, toilets, faucets, sinks, tiles, flooring, lightings, cabinetry and tile-work. Sometimes a bathroom renovation also involves the re-location of fixtures and the removal of adjacent walls to create a better layout.

What do buyers look for?

• a spa-like environment: light colours, rich textures
• luxuries such as water jets in the tub or a steam shower stall
• a large master ensuite with a soaker tub and double sinks

Floor and Wall Finishes

Don’t undervalue the paint and flooring in your home! Many buyers want a home that’s move-in ready, so the more appealing the walls and floors are, the more interest your home will generate on the market. Flooring can generate a 22 per cent better return on investment than the average. If you have carpet in the family, dining and living rooms, it is recommended to change to hardwood and/or tiles. Not only will it make your home more elegant, but you will also enjoy the benefits of a healthier indoor environment, with less allergens. Simply repainting your walls a warm, neutral colour will give you a 29% better return than other popular renovations.

What do buyers look for?

• walls should be smooth and painted in a neutral colour which will help enlarge the space
• currently, hardwood or tiled flooring if not throughout, then at least in the main areas, is the more popular choice for potential buyers
• flooring should create a good flow between one room to the next and be able to tie in with other elements such as cabinetry, wall colours and baseboards

By Kenneth Ho, www.chatelaine.com

Sandra Magsamen shares five artful and inexpensive home improvement projects that will stimulate, captivate and motivate you!

Just because you don’t have a lot of extra cash doesn’t mean you can’t invest in your home. Artist and author Sandra Magsamen offers some artful, low-charge and no-charge ways to create a home that stimulates, captivates and motivates.

Color Outside of the Lines
Color is a wonderful gift, and paint is low cost. Repaint a room or all the rooms in your home. Dream about what feeling you want a room or rooms to share, and think through possible color choices. Journey down to the local paint store for an adventure, and gather tons of paint chips for your consideration and reflection (they are free).

Rummage and explore magazines, pulling out pages of rooms that you want to live in. Look for inspiration everywhere, including friends’ homes, museums, movie sets and nature.

When you are ready to paint, make it fun. Host a paint party and invite some friends over. Make a plan for the evening and give everyone a job. Before you know it, you’ll have splashed some new life into those old walls.

Remember when thinking about color that white brings in light and is the perfect canvas for hanging colorful art. Red is bold, primary and dramatic. Blue is reflective and peaceful. Green is all about nature and calm, and yellow activates and brightens any room.

Putter the Clutter
In my home, clutter seems to multiply magically. Piles of books form here and there, baskets of unrelated items seem to pile up throughout my house and stacks of papers simply grow bigger in size without any human intervention.

For some of us, clutter can be daunting and can make our homes feel messy and unorganized. For others, clutter feels comfortable and fine. If you are one of those folks who love clutter, skip right past this section, but if clutter annoys you, my advice is to “putter the clutter.”

It is really hard to declutter a house in one day because it is such a daunting task, so putter around in each room. Break down the job and pick a room to declutter, then move on to the next room another day. Remember, all this clutter didn’t gather in one day and it doesn’t have to go away in one day either.

If you break this job into small puttering steps, you’ll have a better chance of getting it all done and not be overwhelmed by doing it. Make this job as fun as you can by putting on some great favorite music and dancing your way through the job. Ask yourself as you start this job, “What do I really need and want?” Today is the day to recycle old magazines and donate clothes, furniture and items that could help someone else. Pare down to what feels comfortable and nurturing for you.

Rearrange for Change
If you have grown tired of the same old furniture in your living room and don’t have the finances right now to go out and buy all new pieces, I suggest you do a little rearranging and you’ll be delighted by the change. This tip costs nothing — the only thing you will need is the willingness to play!

Play around with what you already own and see how you could reuse or rearrange in your home. You could go wild with this idea, like moving the living room into the dining room and the dining room into the old living room, or simply rearrange the bedroom by moving the bed under the window so you can feel the spring and summer breezes.

By simply playing around and moving around what you already own, you can change the whole look and feel of your home.

Get Creative
There are so many fun projects to explore and create as you invest in your home. Instead of running to the store to buy an accessory or home decorating item, think about how you might recycle, reuse or create a work of art instead.

• Make new pillows for the sofa by recycling and reusing fabrics.Sew a quilt from clothing that you no longer want to wear but that would be beautiful as a patchwork quilt.
• Paint a whole wall in chalkboard paint and enjoy writing, doodling, drawing, leaving messages, sharing famous quotes, creating or simply jotting down the grocery list.
• Need some lighting? Instead of purchasing a new lamp, why not decorate a lamp shade to match the room? Hot gluing colorful ribbons, buttons or fabric to a shade can look beautiful and artful. Using ceramic tile adhesive on a lamp base and gluing in shards of pottery or stones can create a beautiful mosaic feel to any lamp.
• Need a new rug in the foyer? Try painting a large piece of canvas and make a durable canvas rug. Using acrylic paint, paint the canvas with a design, paint splatter, words or any art that you love. Once dry, varnish with water base polyurethane four or five times, and you’ll have a canvas rug that will be a work of art.
• Make a wreath out of vines you find on a walk in the woods. Gather vines and roll them up in a circle, then tie them together with string. You can decorate the wreath with anything or nothing. 

Grow Beauty
Create a garden in a window, a window box, a terra-cotta pot or the whole front yard. Growing flowers and vegetables is fun, satisfying and always makes a home more beautiful.

Enjoy planting and nurturing your garden, no matter its size. There is great joy and accomplishment that comes from helping anything grow. Make a lettuce garden and enjoy wonderful salads, plant herbs to use all year round, grow flowers you can cut and make a beautiful bouquet from and share your garden with others. You’ll grow great friendships.

You don’t have to spend big money to create the home of your dreams — you only need to spend some time and energy putting your imagination to work.

By Sandra Magsamen, Oprah.com

A key element of planning for your retirement is making sure that you’ll have sufficient income after you retire. A portion of that may come from reliable sources like a pension plan, government benefits, annuities and perhaps part-time employment. But after that, you may be counting on your personal retirement savings.

Most people need to withdraw some money from their portfolio, so having the right mix of investments to generate sufficient income and growth is important. You also might want to consider consolidating your accounts. It can help you gain a clearer picture of your retirement savings and the withdrawal amounts that may be needed from both your registered and non-registered accounts.

The amount you withdraw from your portfolio can depend on factors such as your age, risk tolerance, how your money is invested and the desire to leave a legacy. Everyone’s situation is different, but retirement can last 20 years or more, so an initial withdrawal rate of 4% can be a good place to start. A moderate withdrawal rate allows you to be more flexible because your income needs may rise and fall.

Regarding the make-up of your portfolio, it should provide you with an appropriate amount of income. This can come from Guaranteed Investment Certificates (GICs) and individual bonds, which can help provide a predictable flow of income. Some people decide to invest only in GICs because they provide income with less risk. But remember that GICs alone likely won’t provide a return that can keep pace with inflation.

As for stocks and mutual funds, you should look for those with a history of paying dividends and increasing them over time – though keep in mind that dividends can be increased, decreased or totally eliminated at any point without notice. Although equities possess more risk relative to bonds, their growth potential can help protect against inflation. To help reduce risk, consider buying quality that you can hold for the long term – and don’t overlook the importance of diversifying your investments. While diversification does not guarantee a profit or protect against loss, it has proven over time to be an effective investment strategy.

Life annuities and Guaranteed Minimum Withdrawal Benefit plans* may be another option for some of your retirement income. With these options, which can be customized to meet your retirement needs, you would essentially entrust money to an insurance company in exchange for a guaranteed income stream that will last your lifetime and pay for your necessary living expenses.

Speak with your financial advisor to create a long-term strategy that can help meet your needs today and into the future.

Call me soon so that we can create a long-term strategy that can help meet your needs today and into the future.

This article provided by: Sean Mullane of Edward Jones (780) 464-6100