Whether you have just bought a home and wish to upgrade appliances or you are looking to increase the value of your home before a sale or you simply wish to conserve water and reduce monthly bills…I have some good news for you!
On a daily basis each of the 2.9 million people living in Toronto require an average of 253 litres of residential water use per day…that’s about 77 million toilet flushes EVERY DAY! In an effort to curb water usage, the City of Toronto has a variety of programs and resources, from cash back rebates to retrofit packages, available to the public.
As an incentive to homeowners to replace inefficient models, the City is offering cash rebates on 2 water saving appliances. If you are thinking of replacing your toilet or washing machine you may be eligible to receive the rebate in addition to saving thousands of litres of water every year.
- Ultra low-flow toilets use only 6 litres of water per flush, where a typical model uses up to 20. They work just as efficiently, and savings will add up on your monthly water bills. Rebates of up to $75 are available.
- City-selected, high-efficiency front loading clothes washers use 40% less water and 60 % less energy. Washers are easily recognized by a sticker indicating they are approved by the City of Toronto and sold in local stores. Rebates of up to $60 are available.
Click here to find out if you qualify for these rebates or to find out more about the programs.
If you are not ready to make a large purchase, there are still many things you can do to help ease water usage, including picking up an indoor water efficiency retrofit kit. It costs only $10 and includes items such as a high efficiency shower head, kitchen swivel aerator, 2 bathroom aerators, installation instructions and more! Your water consumption and bills will both be reduced, and who doesn’t want to save a little? Click here to find out where these kits are available.
Money saving tips are always useful, but ones that benefit the environment as well? It’s a win/win situation!
Tuesday, November 25, 2008
Wednesday, October 15, 2008
Preparing Your Home Before Winter Arrives
With the temperatures this past long weekend hovering in the low 20's, it almost seems absurd to be preparing your home for the winter, right? Not so! This is the perfect time to do the cleaning and maintenence that will help keep your heating bills down in the following months, as well as prolong the life of your home and appliances.
Here are some simple things you can do:
1. Furnance maintenence includes:
- Clean or replace filters.
- If forced air, have ducts vacuumed.
- Bleed air from water radiators, if necessary.
2. Make sure smoke alarms & carbon monoxide detectors are in working order, with new batteries.
3. Humidity levels will drop in the winter months, so you will want to be sure you have a humidifier of some sort. If you have a humidifier on your furnace, check that it is scale free: either clean it with a de-scaler or purchase a new filter.
If you are humidifying your living space with a portable unit, make sure you do some research before purchasing. The larger the humidifier, the more maintenence required, but you must also keep in mind the size of the rooms, and also the energy efficiency of the unit.
4. Give your home a really thorough cleaning, so when you seal out the cold, you aren't trapping in all the dust that has blown in with the autumn winds!
5. This is the time for a switch of wardrobe as well: wash your summer clothes before you pack them away, and place some cedar balls in your drawers, and cedar blocks in your closets to protect your knitwear from moths (and avoid the chemicals and strong odours of moth balls!)
6. Keep out the drafts!!!
Doors:
- Install a sweep along the bottoms of your doors, the rubber edge will seal out the wind.
- Apply "sticky foam" on the edges of the door trim
- As extra assurance, install weather stripping to the outside edge of the doorway.
Windows:
Replace window screens with storm windows, then prepare to keep out the drafts:
- One option is removable caulking (be sure to follow directions exactly so as not to damage the window panes or walls).
-Removable draft seal works in much the same way, and is just peeled off like tape in the spring.
- The old standard plastic (just blow-dry to apply) works also.
Heavy drapes can help keep the cold at bay...and remember not to seal *all* the windows, as some fresh air is good to let in once in awhile.
7. Check chimneys for obstructions.
8. Clear eavestroughs of debris.
9. Drain and store outdoor hoses. Close the valve and drain the exterior faucet.
Even these few simple tasks will help winterize your home: keeping you comfortable, lowering monthly bills and maintaining the value of a homeowner's most valuable asset!
Take advantage of these crisp autumn days to talk a walk through the neighbourhood, enjoy the leaves changing colours, and maybe stop into some of the many Toronto homes with an open house!
Here are some simple things you can do:
1. Furnance maintenence includes:
- Clean or replace filters.
- If forced air, have ducts vacuumed.
- Bleed air from water radiators, if necessary.
2. Make sure smoke alarms & carbon monoxide detectors are in working order, with new batteries.
3. Humidity levels will drop in the winter months, so you will want to be sure you have a humidifier of some sort. If you have a humidifier on your furnace, check that it is scale free: either clean it with a de-scaler or purchase a new filter.
If you are humidifying your living space with a portable unit, make sure you do some research before purchasing. The larger the humidifier, the more maintenence required, but you must also keep in mind the size of the rooms, and also the energy efficiency of the unit.
4. Give your home a really thorough cleaning, so when you seal out the cold, you aren't trapping in all the dust that has blown in with the autumn winds!
5. This is the time for a switch of wardrobe as well: wash your summer clothes before you pack them away, and place some cedar balls in your drawers, and cedar blocks in your closets to protect your knitwear from moths (and avoid the chemicals and strong odours of moth balls!)
6. Keep out the drafts!!!
Doors:
- Install a sweep along the bottoms of your doors, the rubber edge will seal out the wind.
- Apply "sticky foam" on the edges of the door trim
- As extra assurance, install weather stripping to the outside edge of the doorway.
Windows:
Replace window screens with storm windows, then prepare to keep out the drafts:
- One option is removable caulking (be sure to follow directions exactly so as not to damage the window panes or walls).
-Removable draft seal works in much the same way, and is just peeled off like tape in the spring.
- The old standard plastic (just blow-dry to apply) works also.
Heavy drapes can help keep the cold at bay...and remember not to seal *all* the windows, as some fresh air is good to let in once in awhile.
7. Check chimneys for obstructions.
8. Clear eavestroughs of debris.
9. Drain and store outdoor hoses. Close the valve and drain the exterior faucet.
Even these few simple tasks will help winterize your home: keeping you comfortable, lowering monthly bills and maintaining the value of a homeowner's most valuable asset!
Take advantage of these crisp autumn days to talk a walk through the neighbourhood, enjoy the leaves changing colours, and maybe stop into some of the many Toronto homes with an open house!
Monday, August 25, 2008
Investing in a Second Property
If you're thinking about buying a house or condo as an investment property, market conditions are definitely in your favour. While the resale housing market has seen a tremendous amount of activity from first-time buyers in the past year, it's also a perfect time for existing homeowners to invest in secondary residential properties.
With record-low interest rates and significantly lower prices it's hard to go wrong - unless, of course you lack the financial means to make the investment. After all, you have to be ready to meet all the obligations that come with owning more than your principal property. For instance, keep in mind that if you intend to rent out the second property, you'll also have to be prepared to deal with tenants and handle maintenance costs.
Leverage
Secondary home ownership is an attractive investment option because it gives you even more leverage than you have with your principal residence. Leverage is when a relatively small amount of your money controls a much larger asset - like a property.
The more leveraged you are, the greater the financial return on your down payment becomes if the value of your property increases. There are very few other investments which can be purchased with such a small percentage of your own money.
Getting Financing
You should be aware that many lenders place non-owner occupied deals in the high-risk category and it's not that unusual to find lenders who will not finance rental units at all - or those who will only finance them if they are insured.
Obviously, lenders will want to know whether the property will carry itself. (Is there sufficient rent to cover the mortgage payment?) Don't make the mistake of assuming that a rental income of $500 per month will carry a mortgage payment of $500 per month. Only a portion of the rent is used to pay the mortgage; the remainder must cover taxes, maintenance, vacancy, bad debt and expenses.
Costs
You should also be aware that the cost of obtaining a mortgage (for legal and appraisal fees) on a non-owner occupied property can be higher than the cost of obtaining a mortgage on an owner-occupied property, when more than one unit - such as a duplex or triplex is involved. Interest rates charged on rental properties might also be higher because some lenders view these properties as being a higher risk.
As mentioned above, the main responsibility of having a second property is being able to carry it financially. And if you're like most people, you'll probably have to rent it to someone as a result.
This is also a great deal of responsibility because you will have to maintain the property in addition to your own principal residence, and you'll be responsible for finding tenants who you trust and feel comfortable with.
This is also a great deal of responsibility because you will have to maintain the property in addition to your own principal residence, and you'll be responsible for finding tenants who you trust and feel comfortable with.
If you'd like more information about purchasing any type of residential property: from a first home to a second property or more, contact Elli or leave a message on the blog.
Monday, July 14, 2008
Summer Home Maintenance Tips
The warm summer months are upon us and most of us have finished spring cleaning and de-cluttering of our homes. However, did you know that there are steps that homeowners should take to protect their investment? The summer months is the best time to get those tasks completed.
Below is a list of items that should be tended too.
1. Clean and check range hood filters over stoves on a monthly basis.
2. If necessary, use a dehumidifier to keep the humidity in the basement at or below 60%.
3. Check basement pipes for condensation or dripping.
4. Refill floor drain in the basement if it doesn’t have enough water.
5. Run water in fixtures that aren’t used on a regular basis (i.e. laundry tub, spare bathroom sink and tub or shower).
6. Deep clean carpets and vacuum the bathroom fan grille.
7. Clean the duct connected to the dryer by unplugging the dryer and disconnecting the duct connected to the dryer. Then take your vacuum and clean the duct.
8. Check windows, door hinges and garage door openers for smooth operation and lubricate if necessary.
9. Make sure water is not leaking into your house along the electrical conduits.
10. Check all paint and caulking.
11. Repair driveways and walkways as needed.
For more information on home maintenance or other free reports, contact Elli or leave a message on the blog.
Below is a list of items that should be tended too.
1. Clean and check range hood filters over stoves on a monthly basis.
2. If necessary, use a dehumidifier to keep the humidity in the basement at or below 60%.
3. Check basement pipes for condensation or dripping.
4. Refill floor drain in the basement if it doesn’t have enough water.
5. Run water in fixtures that aren’t used on a regular basis (i.e. laundry tub, spare bathroom sink and tub or shower).
6. Deep clean carpets and vacuum the bathroom fan grille.
7. Clean the duct connected to the dryer by unplugging the dryer and disconnecting the duct connected to the dryer. Then take your vacuum and clean the duct.
8. Check windows, door hinges and garage door openers for smooth operation and lubricate if necessary.
9. Make sure water is not leaking into your house along the electrical conduits.
10. Check all paint and caulking.
11. Repair driveways and walkways as needed.
For more information on home maintenance or other free reports, contact Elli or leave a message on the blog.
Wednesday, July 2, 2008
What to know when shopping for Condos!
For people who are in the market to own their own property but don’t necessarily want a house, a condo can be the next best investment. Since there are slew of new condos going up along the Toronto Waterfront and other exclusive areas (i.e. Young and Bloor) condos are proving to be prime real estate investments. However, before you pull out the pen and get ready to sign the deposit cheque, there are some things that you should know.
1. Ensure that it fits your needs – if you are going to be living in the condo instead of renting it out, you will need to make sure that the condo fits the style that you are looking for. Condos range from high to low rises, from townhouses to triplexes and knowing what you want to helps to narrow down the search for the right one.
2. Find out what costs are included – for instance, is parking extra? What about amenities like use of the party room or swimming pool? Are finishes included in the purchase price? Are utilities covered in the monthly condo fees (aka maintenance fees)? All of these are questions that you need to have answered. They can make or break a deal if you as a buyer assumes what is included in the purchase price of the condo without asking first.
3. Be aware of the rules and regulations – most condos have boards that regulate the condos and create by-laws associated with the upkeep and maintenance of the condominium complex. There can be restrictions on anything from pets to parking. The by-laws are designed to protect homeowners from living in a non-harmonious environment.
4. Find out about the boundaries – in a freehold, bare or vacant land condos the individual unit consists of the entire house, including exterior walls, roof and the land surrounding it. Before making a purchase, be sure to understand where your unit will begin and end.
Finding the right condo takes research but as with any home search it starts with what you want and what you would like to have. Familiarize yourself with the condo market by searching listings that are on MLS.ca and of course be sure to follow up with your agent for any properties that you may be interested in. You can also download a Condominium Buyers Guide from CHMC’s website.
For more information, leave a comment or email Elli.
1. Ensure that it fits your needs – if you are going to be living in the condo instead of renting it out, you will need to make sure that the condo fits the style that you are looking for. Condos range from high to low rises, from townhouses to triplexes and knowing what you want to helps to narrow down the search for the right one.
2. Find out what costs are included – for instance, is parking extra? What about amenities like use of the party room or swimming pool? Are finishes included in the purchase price? Are utilities covered in the monthly condo fees (aka maintenance fees)? All of these are questions that you need to have answered. They can make or break a deal if you as a buyer assumes what is included in the purchase price of the condo without asking first.
3. Be aware of the rules and regulations – most condos have boards that regulate the condos and create by-laws associated with the upkeep and maintenance of the condominium complex. There can be restrictions on anything from pets to parking. The by-laws are designed to protect homeowners from living in a non-harmonious environment.
4. Find out about the boundaries – in a freehold, bare or vacant land condos the individual unit consists of the entire house, including exterior walls, roof and the land surrounding it. Before making a purchase, be sure to understand where your unit will begin and end.
Finding the right condo takes research but as with any home search it starts with what you want and what you would like to have. Familiarize yourself with the condo market by searching listings that are on MLS.ca and of course be sure to follow up with your agent for any properties that you may be interested in. You can also download a Condominium Buyers Guide from CHMC’s website.
For more information, leave a comment or email Elli.
Thursday, June 19, 2008
Canada's Real Estate Trends
In May, Scotia Bank released the new housing trends for the 1st quarter of 2008. New figures show that the real estate market is cooling down after seeing phenomenal numbers in 2007. Resale of homes have fallen 15% which is down from last summer and the average resale home price in Canada had its first quarterly decline in the first quarter of 2008.
Canada also saw a decline in residential building permits in comparison to last year and the inventory of unsold new homes are trending higher. Some factors causing the decline in these first quarter numbers include the relentless weather that we experienced throughout the winter season along with limited demand for the increased supply.
Financial experts expect a 15% decrease in overall sales compared to 2007. However, with that being said they do expect the average price of a home will increase by approximately 5%. It is safe to say that that the Canadian home market is still in a good position since homes are not overvalued and home equity as a share of real estate assets is near a record high.
Even though experts are expecting a bit of a slump our mortgage quality is still sound. Lending institutions have maintained conservative loan criteria and have introduced a new range of products such as no down payment, longer amortization periods, and adjustable mortgage rates. In my next post we will talk about some of these new mortgage products that are available to home buyers.
Thursday, June 12, 2008
Going Green - Making Your Home Environmentally Friendly
In this day in age with increasing advances in technology and higher standards of living, everything seems to be at our disposal. However, we have and continue to take the earth for granted.
There are varied opinions on what effect global warming will have on the earth in the future but It is there are steps that we can take to rectify this situation. Aside from buying a hybrid car it’s the small choices that can prove to be most beneficial.
Make your home energy efficient - by installing florescent blubs (these cost more than the average blub but last longer). When buying appliances, choose the ones that have the energy star symbol on them and in some jurisdictions, the city will offer up to a $100 rebate on the product you buy. Unplug unused appliances – even though the appliance maybe turn off it is still draining energy.
Change your windows- on newer homes this isn’t necessary but changing your windows in an older home will allow for better insulation of the home and hence better air circulation for heat or air conditioning.
Switch to unsustainable flooring – if you’re thinking of changing your flooring think about making the switch to unsustainable flooring. This type of flooring is made of natural materials such cork or bamboo and acts as a insulator for the floor because it retains the heat (great for those cold winter mornings).
Low flow faucets – come in a variety of styles that fit the theme of your bathrooms or kitchen and best of all you are conserving on your water consumption.
Keep recycling - there is a website www.greenhome.com where you can find a variety of earth friendly products. From cleaning products to bedding to personal care product this site allows you to shop from the comfort of your home all while making your contribution to saving our earth.
There are varied opinions on what effect global warming will have on the earth in the future but It is there are steps that we can take to rectify this situation. Aside from buying a hybrid car it’s the small choices that can prove to be most beneficial.
Make your home energy efficient - by installing florescent blubs (these cost more than the average blub but last longer). When buying appliances, choose the ones that have the energy star symbol on them and in some jurisdictions, the city will offer up to a $100 rebate on the product you buy. Unplug unused appliances – even though the appliance maybe turn off it is still draining energy.
Change your windows- on newer homes this isn’t necessary but changing your windows in an older home will allow for better insulation of the home and hence better air circulation for heat or air conditioning.
Switch to unsustainable flooring – if you’re thinking of changing your flooring think about making the switch to unsustainable flooring. This type of flooring is made of natural materials such cork or bamboo and acts as a insulator for the floor because it retains the heat (great for those cold winter mornings).
Low flow faucets – come in a variety of styles that fit the theme of your bathrooms or kitchen and best of all you are conserving on your water consumption.
Keep recycling - there is a website www.greenhome.com where you can find a variety of earth friendly products. From cleaning products to bedding to personal care product this site allows you to shop from the comfort of your home all while making your contribution to saving our earth.
Wednesday, June 4, 2008
Florida Bound – Canadians buying Real Estate in the US
With the real estate market being what it is in the US some Canadian home buyers would snub the thought of buying property south of the border. However, the truth is that this is the best time for Canadian home buyers to invest into the housing market especially in Florida.
In the past, buying property in Florida was thought to be for only retirees but that doesn’t hold true anymore. Due to the strong Canadian dollar, an excellent opportunity has presented itself and many Canadians who are not yet of retirement age are answering the call by investing in the US real estate market.
Florida is proving to be a real hot spot as more residential properties are being sold at nearly half off the price that the property would have been valued at this time last year. Builders in Florida are continually competing with each other by plunging prices of properties and don’t think that it’s just foreclosure properties that are available, new homes and condos are also being listed at considerably lower prices.
So are you convinced yet? Well, here are some other reasons to invest in a Florida property:
1. Florida has the lowest real estate prices in over 30 years.
2. Great investment opportunity as you can buy low and sell high.
3. The eventual US market rebound will mean a profit for you.
If this isn’t enough to put it into perspective, think of the fact that for the price of a cottage in Ontario, you can own a luxury property in Florida that you can enjoy at anytime of the year. May it be for your own personal use or for a vacation rental property the situation can only be win-win.
Want to find out more about properties in Florida? Contact me with your questions or leave comments on the blog.
Tuesday, May 27, 2008
Canada’s Expensive Homes
I was recently featured in an article in Forbes.com commenting about Canada`s Most Expensive Homes. Many home buyers especially new home buyers may wonder why would this matter to them?
As the prices of homes continue to rise, it represents the fact that Canada has a healthy housing market. Remember, this isn`t like the rise of the housing market in the 80`s. Many factors have changed such as the cost of living and the US subprime lending situation, the fact that Canada can sustain a healthy housing market bodes a definite positive for us Canadians.
Multi-million dollar homes are on the rise in Canada and that is mostly in part to baby boomers and their inheritances. In the first quarter of 2007, 1,237 homes priced at $1 million and up were sold in the GTA, Calgary and Vancouver[1]. From experience, I have seen the rise in the prices of homes in some of Toronto`s elite areas as it is reflected in the properties that I list on a continuous basis and can start at anywhere from $2 million and up. Although these classes of elite homes once known as "the carriage trade" are becoming a hot commodity, supply is rare.
Even though this seems like a big deal, Canada is still has a bit of a ways to catch up to our friends south of the border where these prices are not uncommon. In New York City, a buyer could easily spend $1 million dollars on a condo. It is important to bear in mind that buyers of these types of homes are concerned with the complete package of the home and what it has to offer. Whether it be the spectacular view or the unique features of the homes itself these homes represent the future of Canadian standards of living.
Read about Canada’s Most Expensive homes and see the pictures.
Next post topic: A Guide to the Real Estate Market
Next post topic: A Guide to the Real Estate Market
[1] http://www.forbes.com/2007/01/30/most-expensive-canada-forbeslife-cx_lk_0131canadasmostexpensivehomes.html
Wednesday, May 21, 2008
Top Reasons to have your Mortgage Pre-Approved
If you still aren’t convinced about the importance of pre-approved mortgages, take a look at the U.S. subprime loan crisis and their high ratio of defaulted mortgage loans. Country Wide Financial (one of America’s major leading mortgage lending firms) posted in their 4th quarter that 19% of subprime borrowers had missed a payment.[i]
The advantages of pre-approved mortgages far outweigh the hassle that some home buyers believe that it can be. For instance, many home buyers are not aware that when you are pre-approved, you can be guaranteed an interest rate for a period of time and for the pre-approved amount.
Another advantage is ease of convenience. Based on your pre-approved amount your realtor can search for properties within your “set budget”, therefore, saving time by narrowing the search. Once you and your realtor have found a property that you would like to make an offer on, pre-approval comes in handy when in a bidding war with other potential buyers for home. Some sellers are more likely to accept an offer from a buyer who has been pre-approved as it
cuts down on the wait time to move their home from conditionally sold to a firm sale.
Pre-approval puts you in the driver’s seat because now you can confidently search for a home that you know that you can afford. Let’s not forget about the ease of mind that this provides. So many times, home buyers search for homes that they believe that they will be mortgage approved for, make an offer, only to find out the deal fell through because their financing wasn’t secured.
The best advice that I can give anyone, is to do your homework before picking up the phone to call a realtor. There are various types of mortgages and terms that you should become familiar with and it helps when you know what the mortgage specialist is talking about. Remember, buying a home can be a daunting task but by being organized and prepared you can be one step closer to your new home.
[i] http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2007/04/
Sunday, May 11, 2008
5 Tips on How To Make Your Home More Marketable
1. List the Pros – by viewing the home from a buyer’s perspective, you can easily make a list of the home’s positive features which will then allow your realtor to emphasize those qualities when listing your home.
2. Add curb appeal – the housing market tends to see an increase in sales usually during the spring and summer seasons. Therefore, cutting the grass and adding eye catching landscaping will not only boost your home’s visibility but add to the attractiveness of the home.
3. Make needed repairs – invest in fixing up the some of patches of worn out paint on the walls with a fresh coat. Don’t focus on the fixing the minor cracked tile, instead of waiting for potential buyers spot a problem take the initiative to make all necessary repairs. It will benefit you in the long run and reduces the chances of turning of a potential buyer.
4. Clean and organize your home – deodorize and steam clean your carpets. Put some extra elbow grease in and clean your windows. These “chores” help to make an impression on buyers who are coming to view the home. Organize the clutter and get rid of the junk that you maybe hiding in a closet or the basement. It is important to realize that clutter only makes the space in your home appear smaller. By clearing out the clutter, you give the illusion of a much more spacious liveable area.
5. Set the tone – with neutral and warm colours throughout the house. As much as you love the leopard print wallpaper that might not be your potential buyer’s style. Remember, they are picturing it as they would see themselves in the home and you wouldn’t want to be responsible for your home not being sold because of the hot pink walls.
Staging your home is very important and could mean the difference between your home being sold within two days versus two months. Professional stagers are available to come in and assist you with staging your home to make it stand out to the crowd.
Have a question? Post to the blog so that Elli can give you her feedback.
2. Add curb appeal – the housing market tends to see an increase in sales usually during the spring and summer seasons. Therefore, cutting the grass and adding eye catching landscaping will not only boost your home’s visibility but add to the attractiveness of the home.
3. Make needed repairs – invest in fixing up the some of patches of worn out paint on the walls with a fresh coat. Don’t focus on the fixing the minor cracked tile, instead of waiting for potential buyers spot a problem take the initiative to make all necessary repairs. It will benefit you in the long run and reduces the chances of turning of a potential buyer.
4. Clean and organize your home – deodorize and steam clean your carpets. Put some extra elbow grease in and clean your windows. These “chores” help to make an impression on buyers who are coming to view the home. Organize the clutter and get rid of the junk that you maybe hiding in a closet or the basement. It is important to realize that clutter only makes the space in your home appear smaller. By clearing out the clutter, you give the illusion of a much more spacious liveable area.
5. Set the tone – with neutral and warm colours throughout the house. As much as you love the leopard print wallpaper that might not be your potential buyer’s style. Remember, they are picturing it as they would see themselves in the home and you wouldn’t want to be responsible for your home not being sold because of the hot pink walls.
Staging your home is very important and could mean the difference between your home being sold within two days versus two months. Professional stagers are available to come in and assist you with staging your home to make it stand out to the crowd.
Have a question? Post to the blog so that Elli can give you her feedback.
Thursday, May 1, 2008
Top 4 Features to look for in a Neighbourhood
Now that you’re in the market for buying a home, you may or may not have decided what type of neighbourhood you would like to live in. Choosing a neighbourhood is not just simply choosing a “nice area” based on a location that you prefer but buyers should also be looking for neighbourhoods with sustainable features when purchasing their home.
The Canada Home and Mortgage Corporation defines sustainable features as “an area that meets your needs while protecting the environment and leaving an affordable legacy.”[1] These types of features in an area can help to improve the quality of life as well as being a safe and pleasant place to live. These neighbourhoods can also include the following.
1. They provide close, convenient access to amenities such as work, schools, shopping, etc...This allows for people who are in these neighbourhoods to spend less time in cars driving and more time either commuting by public transportation or walking. This is a two pronged benefit because you are not only lowering the emissions levels being sent out into our environment, but also taking the time to invest in your health by walking or biking wherever possible.
2. They offer a variety of house types that give you the option of establishing a foundation within a neighbourhood that allows you to build roots, but also being an area that is able to move through life’s changes with you. For instance, you can find a neighbourhood that will allow you to purchase a home that you can start a family in. Then, as your family changes you can still stay within that same neighbourhood and find a home that best suits your changing needs.
3. They provide a safe and friendly atmosphere. No one wants to be stuck in a neighbourhood where they do not feel comfortable walking to the store. If you are going to build roots in this neighbourhood you want it to be somewhere that you will enjoy being.
4. It offers the best value for your dollar not just within the physical property but this refers back to the neighbourhood being easily accessible. Nowadays, most families have two cars for their household. However, if you are able to get around without the use of a second car then this cuts back on your costs for fuel and maintenance for two cars and therefore giving you a higher ROI.
As advantageous as sustainable features are, this option for choosing a neighbourhood is not for everyone. It isn’t advisable to look for a neighbourhood with these features if you are a home buyer who doesn’t want a smaller home to maintain or if you don’t mind commuting in traffic. However, with the benefits of sustainable features why wouldn’t you incorporate this into your home search?
You can find a list of Canadian cities that offer neighbourhoods with these important features at http://www.cmhc-schl.gc.ca/en/index.html.
[1] Thinking of Moving to A Different Home – www.chmc-schl.gc.ca/en/index.html
The Canada Home and Mortgage Corporation defines sustainable features as “an area that meets your needs while protecting the environment and leaving an affordable legacy.”[1] These types of features in an area can help to improve the quality of life as well as being a safe and pleasant place to live. These neighbourhoods can also include the following.
1. They provide close, convenient access to amenities such as work, schools, shopping, etc...This allows for people who are in these neighbourhoods to spend less time in cars driving and more time either commuting by public transportation or walking. This is a two pronged benefit because you are not only lowering the emissions levels being sent out into our environment, but also taking the time to invest in your health by walking or biking wherever possible.
2. They offer a variety of house types that give you the option of establishing a foundation within a neighbourhood that allows you to build roots, but also being an area that is able to move through life’s changes with you. For instance, you can find a neighbourhood that will allow you to purchase a home that you can start a family in. Then, as your family changes you can still stay within that same neighbourhood and find a home that best suits your changing needs.
3. They provide a safe and friendly atmosphere. No one wants to be stuck in a neighbourhood where they do not feel comfortable walking to the store. If you are going to build roots in this neighbourhood you want it to be somewhere that you will enjoy being.
4. It offers the best value for your dollar not just within the physical property but this refers back to the neighbourhood being easily accessible. Nowadays, most families have two cars for their household. However, if you are able to get around without the use of a second car then this cuts back on your costs for fuel and maintenance for two cars and therefore giving you a higher ROI.
As advantageous as sustainable features are, this option for choosing a neighbourhood is not for everyone. It isn’t advisable to look for a neighbourhood with these features if you are a home buyer who doesn’t want a smaller home to maintain or if you don’t mind commuting in traffic. However, with the benefits of sustainable features why wouldn’t you incorporate this into your home search?
You can find a list of Canadian cities that offer neighbourhoods with these important features at http://www.cmhc-schl.gc.ca/en/index.html.
[1] Thinking of Moving to A Different Home – www.chmc-schl.gc.ca/en/index.html
Thursday, April 24, 2008
A night of Celebration
In 1983, Elli Davis took a chance and left teaching and became a Real Estate agent. Elli had a flair for the field and it showed with her first sale occurring three weeks after receiving her Realtor’s license. For Elli it has been her passion ever since.
Fast forward to April 10th 2008, where over 400 guests gathered to pay tribute to Elli’s 25 year career. The venue was the Round Room of The Carlu,a Landmark in downtown Toronto where guests mingled while enjoying a variety exquisite foods and desserts throughout the evening. The room was elegantly decorated and the atmosphere was infused with sounds of chic music as guests were entertained by Brian Master Productions.
Highlights of the night included a speech from Gino Romanese – Senior Vice President of Royal LePage. Mr. Romanese gave statistics on Royal LePage and Elli’s contribution to the company and the Real Estate profession. Pamela Kempthorne – Director of the Royal LePage Shelter Foundation was also at the event to speak about Elli’s generous donation of a play set to Interval House, which is one of the shelters supported by the foundation. Royal LePage Shelter Foundation is proud to partner with local women’s shelters to help make a difference in the lives of women and children who have been affected by violence.
The night was enjoyed by all who attended as they celebrated and reminisced on Elli’s career. One partygoer reflected on the time when Elli sold his home; “so it was 10 am and she rings my door bell on Hazelton, I come down the stairs with bed head and little dazed, I open the door and I hear “Michael, you’ve got to move out of your house I sold it… Ah, the good old days.”
Another guest was quoted as saying “wasn’t that a great tribute to her and her career?” Not only was it a night of celebration but truly a night to remember for Elli and all those who were fortunate to be a part of it.
Congratulations Elli! Check out video footage from the party here:
http://www.brightcove.tv/title.jsp?title=1511107483
Fast forward to April 10th 2008, where over 400 guests gathered to pay tribute to Elli’s 25 year career. The venue was the Round Room of The Carlu,a Landmark in downtown Toronto where guests mingled while enjoying a variety exquisite foods and desserts throughout the evening. The room was elegantly decorated and the atmosphere was infused with sounds of chic music as guests were entertained by Brian Master Productions.
Highlights of the night included a speech from Gino Romanese – Senior Vice President of Royal LePage. Mr. Romanese gave statistics on Royal LePage and Elli’s contribution to the company and the Real Estate profession. Pamela Kempthorne – Director of the Royal LePage Shelter Foundation was also at the event to speak about Elli’s generous donation of a play set to Interval House, which is one of the shelters supported by the foundation. Royal LePage Shelter Foundation is proud to partner with local women’s shelters to help make a difference in the lives of women and children who have been affected by violence.
The night was enjoyed by all who attended as they celebrated and reminisced on Elli’s career. One partygoer reflected on the time when Elli sold his home; “so it was 10 am and she rings my door bell on Hazelton, I come down the stairs with bed head and little dazed, I open the door and I hear “Michael, you’ve got to move out of your house I sold it… Ah, the good old days.”
Another guest was quoted as saying “wasn’t that a great tribute to her and her career?” Not only was it a night of celebration but truly a night to remember for Elli and all those who were fortunate to be a part of it.
Congratulations Elli! Check out video footage from the party here:
http://www.brightcove.tv/title.jsp?title=1511107483
Tuesday, April 15, 2008
Is Home Ownership the right decision for You?
Buying a home is the most exciting and emotionally charged thing that you will ever do. It is a big decision and you should make sure that you are ready both emotionally and financially to purchase a home.
As with any large purchasing decision, you need to acquaint yourself with the market, its trends and the terminology so that you aren’t going to make an uneducated decision. There are many tools on the internet that can help you determine whether or not homeownership is a step that you should be taking.
Some things to consider when buying a home:
1. Down payment – ensure that you have enough money saved up towards your down payment as this is the amount of money that you will need in order to secure your new home and this amount is not financed by your lending institution. Down payment amounts can be anywhere from 5%-20% of the purchase price of the home.
2. Monthly Mortgage – is the amount that you will be paying on your mortgage each month so you need to establish what amount you can afford taking into consideration your other monthly expenses (i.e. utilities, car payment, entertainment, etc…).
3. Property Taxes – is separate from your monthly mortgage payment and may increase the amount you pay monthly depending on how you choose to pay them off each year.
Remember, buying a home does have its advantages but it’s always best to do your homework about homeownership. The Canada Mortgage and Housing Corporation have an excellent worksheet that will assist you with this very important decision.
Need more info? Ask Elli a question or visit http://www.ellidavis.com/ .
As with any large purchasing decision, you need to acquaint yourself with the market, its trends and the terminology so that you aren’t going to make an uneducated decision. There are many tools on the internet that can help you determine whether or not homeownership is a step that you should be taking.
Some things to consider when buying a home:
1. Down payment – ensure that you have enough money saved up towards your down payment as this is the amount of money that you will need in order to secure your new home and this amount is not financed by your lending institution. Down payment amounts can be anywhere from 5%-20% of the purchase price of the home.
2. Monthly Mortgage – is the amount that you will be paying on your mortgage each month so you need to establish what amount you can afford taking into consideration your other monthly expenses (i.e. utilities, car payment, entertainment, etc…).
3. Property Taxes – is separate from your monthly mortgage payment and may increase the amount you pay monthly depending on how you choose to pay them off each year.
Remember, buying a home does have its advantages but it’s always best to do your homework about homeownership. The Canada Mortgage and Housing Corporation have an excellent worksheet that will assist you with this very important decision.
Need more info? Ask Elli a question or visit http://www.ellidavis.com/ .
Tuesday, April 8, 2008
Realtor or For Sale by Owner?
Some homeowners, once thy are ready to put their home on the market ponders the thought of selling their home privately also known as For Sale by Owner (FSBO). In order to determine whether or not to list your home privately, there are some key questions that you will need to ask yourself.
Are you ready to separate yourself emotionally from your home?
Most homeowners consider their home their own private sanctuary suited and styled to their own personal taste. When potential buyers come to view your home, you need to bear in mind that they are viewing the home as they would see themselves in it. Therefore, you need to take into consideration that your personal taste may not be the same as the potential buyers viewing your home. You will have to be able to maintain objectivity when buyers are criticizing your home.
Can you set a realistic listing price for your home?
Some sellers tend to have unrealistic views on what the listing price of their home should be. Realtors help you come up with a listing price that is suitable by completing a comparative market analysis and other research that will help them suggest a reasonable price for your home.
Can you effectively market your home?
It is important to remember that your realtor has access to tools that can market your home to a very large audience. Your realtor knows the key elements of your home that will be big “attention grabbers” and can expand upon these features with engaging ads for local newspapers, magazines, and MLS.
Will you be able to respond to potential problems that may arise?
Realtors are professionally trained to deal with potential problems. No doubt that your realtor has probably dealt with their fair share of make or break it deals. It is this knowledge that could potentially save the deal on your home from falling through.
Are you able to make yourself available for showings?
Buyers tend to feel more intimidated by the presence of the seller while they are viewing the home. They may feel hesitant to comment or truly look at the house the way a buyer should when viewing homes.
Depending on your circumstances you may benefit from the services of a Realtor. You should make sure that you do your research and interview multiple agents before committing to any particular one.
Are you ready to separate yourself emotionally from your home?
Most homeowners consider their home their own private sanctuary suited and styled to their own personal taste. When potential buyers come to view your home, you need to bear in mind that they are viewing the home as they would see themselves in it. Therefore, you need to take into consideration that your personal taste may not be the same as the potential buyers viewing your home. You will have to be able to maintain objectivity when buyers are criticizing your home.
Can you set a realistic listing price for your home?
Some sellers tend to have unrealistic views on what the listing price of their home should be. Realtors help you come up with a listing price that is suitable by completing a comparative market analysis and other research that will help them suggest a reasonable price for your home.
Can you effectively market your home?
It is important to remember that your realtor has access to tools that can market your home to a very large audience. Your realtor knows the key elements of your home that will be big “attention grabbers” and can expand upon these features with engaging ads for local newspapers, magazines, and MLS.
Will you be able to respond to potential problems that may arise?
Realtors are professionally trained to deal with potential problems. No doubt that your realtor has probably dealt with their fair share of make or break it deals. It is this knowledge that could potentially save the deal on your home from falling through.
Are you able to make yourself available for showings?
Buyers tend to feel more intimidated by the presence of the seller while they are viewing the home. They may feel hesitant to comment or truly look at the house the way a buyer should when viewing homes.
Depending on your circumstances you may benefit from the services of a Realtor. You should make sure that you do your research and interview multiple agents before committing to any particular one.
Monday, March 31, 2008
25 Years Strong!!!
As hard as it is for me to believe, this year will mark my 25th year providing real estate services. It’s been a fantastic journey and I have enjoyed every moment of it.
As a school teacher, I always had a strong interest in Real Estate. As I moved to sales with Mary Kay Cosmetics, my fervor for Real Estate grew and it was then that I decided to pursue a career in the hobby that I loved.
Since then, I have had the honour of holding esteemed titles such as; #1 Agent in Canada for Royal LePage for 12 consecutive years and #1 Agent in Toronto for the last 21 years; both of which, I am extremely proud of as it is a true reflection of recognition for hard work and dedication. Every sale still brings about the same adrenaline rush it did 25 years ago when I sold my first condo and it is this excitement that keeps me going.
All in all when it boils down to it, it’s not just the passion for my job that drives me, it’s all the experiences both good and bad and the people that I’ve had the pleasure to assist and of some of those professional relationships have evolved great friendships.
Here’s to 25 years strong…cheers!!!!
Want to ask Elli a question? Post a question or comment in the blog.
Subscribe to:
Posts (Atom)
