Recently homeowners in Toronto have received their property tax assessments in the mail and I have been asked for advice on what they can do if they feel the assessment is not an accurate reflection of the value of their home. You can appeal the assessment, and I myself have had success in lowering my property taxes by doing so. This may not be the case for everyone, but it might be something you are interested in pursuing nonetheless.
Metropolitan Property Tax Consultants (416-482-3000) are one of the companies in Toronto that provide such a service. They will charge you half of the amount of the savings on your property taxes, and in the case that there are no savings, there is no charge.
By lowering your property taxes you may not only save yourself money, but also increase the appeal of a property you have listed or are thinking of listing.
Showing posts with label Elli Davis. Show all posts
Showing posts with label Elli Davis. Show all posts
Tuesday, January 20, 2009
Tuesday, January 13, 2009
A New Year, A Fresh Start!
A new year is a great time to make a fresh new start, and what better place to start than by giving your living space a fresh new start. January seems to be a time to sit back and look over all the festive accumulations/great boxing day deals and say, “What do I do to make my living space more liveable…or saleable??” (These handy hints will also make any future moves so much easier)
· Start with removing all the festive decorations. For easy storage and an even easier way to find them again next time you need them, store them in see-thru plastic storage containers. They will stack nicely on top of one another, and you will be able to see the items packed in each container. Once the decorations are removed you will find it less overwhelming to deal with the rest of the house.
· During this time of year, gifts can add to the clutter. A good rule of thumb is out with the old, in with the new. When you have a new item to bring into the house: be it an appliance, an item of clothing or piece of furniture, don’t keep the old one *and* the new…do you really need 3 electric can openers?
· If these replaced items have only been gently used don’t just toss them in the garbage. Instead donate them to a local charity or you can post them for sale on a website such as craigslist.org or have a garage sale. In the spring contact me, Elli Davis, regarding free signs to advertise your garage sale!
· Label boxes for “Donations” and/or “Garage Sale” and designate a corner of one room for these boxes. As you gather items from the other rooms it will make your donation drop off one simple trip, and your garage sale more organized.
· A simple tip to help decluttering is to tackle just a small area and move on…don’t think of the daunting task of the whole house. Pick one room to start with, one day sort through the surface areas: countertops, floors, etc., the next day choose a cupboard or two, the next day a couple of drawers…you get the idea! Decide which items you really truly want to keep, which won’t be used for awhile and need to be stored and which are on their way out the door: donation, sale or garbage.
· When you choose items to be stored: mark the box with the date. If you have not needed to open that box to retrieve the items inside in over a year, drop that box off at a donation centre without opening it. If you didn’t need them in a year, you won’t need them.
· Finally: once you have done this great job weeding out unnecessary items and organizing what has been left…resist the temptation to bring more clutter into your home! Every time you go to make a purchase, stop and think, really think, “Do I need this, or do I just *want* it?” and remind yourself of all the effort you just went to to minimize the amount of clutter in your home…is that fourth electric can opener really worth all the aggravation??
These tips can be used at any time of year, but sometimes the inspiration of a new year is a helpful nudge in the right direction.
· Start with removing all the festive decorations. For easy storage and an even easier way to find them again next time you need them, store them in see-thru plastic storage containers. They will stack nicely on top of one another, and you will be able to see the items packed in each container. Once the decorations are removed you will find it less overwhelming to deal with the rest of the house.
· During this time of year, gifts can add to the clutter. A good rule of thumb is out with the old, in with the new. When you have a new item to bring into the house: be it an appliance, an item of clothing or piece of furniture, don’t keep the old one *and* the new…do you really need 3 electric can openers?
· If these replaced items have only been gently used don’t just toss them in the garbage. Instead donate them to a local charity or you can post them for sale on a website such as craigslist.org or have a garage sale. In the spring contact me, Elli Davis, regarding free signs to advertise your garage sale!
· Label boxes for “Donations” and/or “Garage Sale” and designate a corner of one room for these boxes. As you gather items from the other rooms it will make your donation drop off one simple trip, and your garage sale more organized.
· A simple tip to help decluttering is to tackle just a small area and move on…don’t think of the daunting task of the whole house. Pick one room to start with, one day sort through the surface areas: countertops, floors, etc., the next day choose a cupboard or two, the next day a couple of drawers…you get the idea! Decide which items you really truly want to keep, which won’t be used for awhile and need to be stored and which are on their way out the door: donation, sale or garbage.
· When you choose items to be stored: mark the box with the date. If you have not needed to open that box to retrieve the items inside in over a year, drop that box off at a donation centre without opening it. If you didn’t need them in a year, you won’t need them.
· Finally: once you have done this great job weeding out unnecessary items and organizing what has been left…resist the temptation to bring more clutter into your home! Every time you go to make a purchase, stop and think, really think, “Do I need this, or do I just *want* it?” and remind yourself of all the effort you just went to to minimize the amount of clutter in your home…is that fourth electric can opener really worth all the aggravation??
These tips can be used at any time of year, but sometimes the inspiration of a new year is a helpful nudge in the right direction.
Tuesday, November 25, 2008
Save Money? And Help the Environment? Tell Me More!
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!
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!
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.
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.
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
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