Tag Archives: advice

It was bound to happen one day. The Bank of Canada decided to raise its interest rates on July 12th for the first time in years. Every large bank followed suit the next day. It is now time to revise your budget accordingly.

This first hike does not mean there will be a second one on September 6th of this year, and that the interest rates will keep rising afterward. But, better be safe than sorry, especially given the fact that the total Canadian household debt has reached a record high.

[caption id="attachment_15646" align="aligncenter" width="580"]iStock iStock[/caption]

The Bank of Canada is anticipating an increase in the inflation rate. CIBC Bank economists, who issued the “Canadian Inflation: What’s Gone Wrong?” report, also believe the inflation rate will hike soon. Mortgage holders living on a tight budget should prepare accordingly.[……]

Read more

You’ve saved money. You’ve done your research and you’re just about ready to visit properties in the hopes of buying your very first home this year. You’d better make sure that these visits are effective. Here are a few tips.

  • We assume that you’ve defined your needs and priorities before visiting your first homes. Don’t make the mistake of defining them as you go along. If so, you’ll waste precious time.
  • Don’t wait to visit the property before getting the basic information, such as the age of the house, the electricity costs, the taxes, etc. Browse the websites of cities and power companies. They can usually give you this information. The real estate broker’s listings also hold a lot of information. If the house is not listed, a phone call or an email to the homeowner should suffice. If you’re afraid to sound too pushy, tell yourself that the homeowner is probably glad to proceed in that way. He or she will also be saving time.

[……]

Read more

Most people renovate their homes for more space or more comfort. Some also remodel their homes in order to sell their property more quickly while getting the desired price for it.

But you shouldn’t start renovating carelessly. Follow these guidelines.

  • It would be irresponsible to carry out overwhelming work in order to sell your home quickly. Disaster will probably strike. Some upgrades, worth a few hundreds or thousands of dollars, should do the trick.
  • Check every nook and cranny in your home to find any defects. Neglecting this step might give the future buyer the wrong impression. Imagine if he or she arrives with a building inspector? Omitting to inspect your home is not the best way to go, even if you end up selling your property for the desired price. If the future homeowner ends up dragging you into court for latent defects, not only will you see your profit melt away, but your quality of life will diminish.
  • Start by facing your home and put yourself in the buyer’s shoes. Is the frontage appealing? Is the front door impeccable? A neglected exterior usually implies a careless homeowner in the minds of future buyers.
  • Go outside and walk around your property and think of the things that would bother a buyer and try to address the problem. For example, you live in a noisy neighbourhood because of the traffic. Find out how much building a green wall or a solid wall would cost to reduce the noise.

[……]

Read more

“There is never a single fixed price. Every property has both a floor and ceiling price,” says Patrick Juanéda, President of the Québec Federation of Real Estate Boards (FCIQ). On one hand, the seller wants to close the deal and obtain the amount closest to the ceiling price. While on the other, the buyer wants to pay something closer to the floor price. Irreconcilable differences? Not at all. Finding common ground is entirely possible, and that’s what successful negotiating is all about.

The power of negotiation

“The price is always negotiable,” says Mr. Juanéda. Expect the average reduction percentage to be from 2 to 3%.”

The real estate expert does stress however that each situation is unique: “If a house is listed at a “good price” (near the floor price) and it’s located in an active market (single family homes around $300,000, for example) overbidding can’t be ruled out. Do you really want to miss out to save a few thousand dollars?”

On the other hand, you have more room to manoeuver with a property that has been on the market for over six months and seen little activity.

Recognizing various scenarios forms the basis of any negotiation. A qualified real estate agent has the experience and instinct to guide the buyer. Without one, you’d have to study the local house listings and visit a lot of properties to develop a flair for negotiation.[……]

Read more

You’re on a tight budget and changing your home decor is not a possibility right now. Did you think about molding? It’s cheap, easy to install and it can transform the entire appearance of a room. Here are a few tips.

  • There is a variety of decorative moldings out there, not to mention various types of wood. Take the time to research: ask vendors, search the Internet or look through books at your local library.
  • To install baseboard molding, take the time to find all the studs behind the wall and mark them as you please. That’s where you’ll nail the baseboard and the moldings will fit snugly together.
  • Do you have to remove old molding? With a flat tool, pry the molding away from the wall by sliding the tool between the stud and the molding.
[caption id="attachment_14702" align="aligncenter" width="600"]iStock iStock[/caption]
  • Identify the areas where the floor is uneven before you install the moldings to avoid unpleasant surprises along the way.

[……]

Read more

One of your windows is in poor condition. For whatever reason, you couldn’t replace it before the winter season’s arrival. Here are a few guidelines to help you prevent damage or a hike in heating costs.

  • Weatherstripping is the key element in heat loss prevention. Make sure it is in mint condition.
  • Clean every part of the window with a brush or a vacuum cleaner. It can actually make a small difference.
  • If the caulk breaks when touched with a screwdriver or any other tool for that matter, it needs to be replaced.
  • Window films can reduce heat loss up to 50%. It is applied to the inside of the window on the surface of the glass and can be installed by anyone.
  • Adhesive foam tape isn’t the most durable, but it will last through a winter season.
  • You can buy draft stoppers that attach to the outside of the window on milder days.

[……]

Read more

It’s time to play with the light in order to outplay the shades of autumn. Light gives rhythm to an interior and defies the cold and dark seasons by projecting a zest for life thanks to the magic of reflections. Not only does light have the ability to transform a space, but it also improves the psychic comfort.

Don’t try to recreate a pool of natural light by opting for central pendant lighting. It’s a waste of time. In any case, the light would be too violent.

Instead, opt for several sources of that disperse the light everywhere. And have halos of light run on all the walls. The possibilities are endless: ceiling light and pendant lighting, wall-mounted lights, table lamps, floor lamps, projectors (recessed or not).

Play with the direction of the light source to create life. Today, most lights are adjustable and dimmable. The lighting can be lateral, built-in or angled or be part of the ground. The desired effect is often to highlight an object with indirect light behind the head of the bed, lighting hidden behind a piece of furniture, animation of rays of light of a bookshelf, lighting at the turning point of a staircase, projector over an aesthetic bed cover.

[caption id="attachment_14385" align="aligncenter" width="580"]iStock iStock[/caption]

[……]

Read more