As noted in a previous post, there is money available to you from government programs for energy efficiency upgrades.
The new federal budget added a tax credit for renovations that goes beyond specific energy upgrades -- just do something ! spend money ! hire somebody ! NOW ! ... you get the idea. Here is a useful Q&A on how the HRTC (Home Renovation Tax Credit) works: http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhmrnvtn-eng.html
While we're at it, here are a couple more info documents on budget stuff that relates to real estate:
... Not Really First-Time Home Buyers Tax Credit (you can actually quality if you haven't owned a home recently)
... Looting your RRSP to help with a home purchase (OK, they call it the Home-Buyers Plan , and it does make sense FOR CERTAIN PEOPLE, but be careful...)
Thursday, February 12, 2009
Wednesday, February 11, 2009
Yikes ... market commentary
It's very scary out there, isn't it?
I can find compelling, logical analysis that says this thing will turn in a year and that it's a great time to buy (with care)
On the other hand, our very own financial advisor suggests that we sell our own house and hunker down for a decade or so !! He, too, has the "proof" to support his thesis.
The US Secretary of Commerce, VP, and President are all saying variations of "don't know ... we'll screw some stuff up ... but we'll get it eventually"
Right now, a short term prediction beyond "I don't know" is probably either stupid, naive, or dishonest.
Our Toronto-area market started to slow down noticeably last Fall as everyone got nervous.
December and January were dead, but they nearly always are.
January and February (to date) were also affected by weather -- much like they were last year even though the Spring Market ended up doing fine.
To be more confident of the short term market health we will have to wait for March.
Trouble is, a "good" March would really just be "less bad" if you are thinking of selling. By the time you know how good or bad the market is, you may have left money on the table. If you are going to sell, we suggest you do it NOW. The market may not crash, but it isn't going up for a while.
Most people's decision is not that cut and dried. Are you buying AND selling? In this market or another geographic area? And so on. Too complex to go into here, but obviously we would be happy to talk to you.
Whatever you do, consider BOTH the risks and the opportunities. No matter what you think is going to happen, you (and we) are probably wrong ! No offence -- it's just too complicated and "different" to know with confidence. Sorry, but that's the way it is.
I can find compelling, logical analysis that says this thing will turn in a year and that it's a great time to buy (with care)
On the other hand, our very own financial advisor suggests that we sell our own house and hunker down for a decade or so !! He, too, has the "proof" to support his thesis.
The US Secretary of Commerce, VP, and President are all saying variations of "don't know ... we'll screw some stuff up ... but we'll get it eventually"
Right now, a short term prediction beyond "I don't know" is probably either stupid, naive, or dishonest.
Our Toronto-area market started to slow down noticeably last Fall as everyone got nervous.
December and January were dead, but they nearly always are.
January and February (to date) were also affected by weather -- much like they were last year even though the Spring Market ended up doing fine.
To be more confident of the short term market health we will have to wait for March.
Trouble is, a "good" March would really just be "less bad" if you are thinking of selling. By the time you know how good or bad the market is, you may have left money on the table. If you are going to sell, we suggest you do it NOW. The market may not crash, but it isn't going up for a while.
Most people's decision is not that cut and dried. Are you buying AND selling? In this market or another geographic area? And so on. Too complex to go into here, but obviously we would be happy to talk to you.
Whatever you do, consider BOTH the risks and the opportunities. No matter what you think is going to happen, you (and we) are probably wrong ! No offence -- it's just too complicated and "different" to know with confidence. Sorry, but that's the way it is.
"Saving Money while Saving The Planet"
The title is stolen from a CarsonDunlop report. If you are looking for a good summary of all the grants currently available for doing energy efficient upgrades (furnace, air conditioner, insulation, windows, even toidies !), you may want to start at a good CarsonDunlop page .... http://www.carsondunlop.com/ecoenergy/rebates.html
As you will see, it's not just the feds giving grants. The Province, provincial and municipal electric utilities, Toronto Water, and gas utilities are all giving loot out in different ways for different things. It's your money, go get it!
Nothing is exactly free here -- all will require a pile of your money too. But they make the changes easier and will save you money every month on your utility bills while doing less damage to our one-and-only world.
By the way, we are just completing our training and will become certified "NAGAB" green agents. It doesn't mean we will show up with a hammer, but we will have a lot of information to help you determine what you might be buying or what you should consider doing.
[UPDATE: ANOTHER GOOD PLACE TO CHECK OUT THE FED/PROVINCIAL OPTIONS: http://www.homeenergyontario.ca/]
As you will see, it's not just the feds giving grants. The Province, provincial and municipal electric utilities, Toronto Water, and gas utilities are all giving loot out in different ways for different things. It's your money, go get it!
Nothing is exactly free here -- all will require a pile of your money too. But they make the changes easier and will save you money every month on your utility bills while doing less damage to our one-and-only world.
By the way, we are just completing our training and will become certified "NAGAB" green agents. It doesn't mean we will show up with a hammer, but we will have a lot of information to help you determine what you might be buying or what you should consider doing.
[UPDATE: ANOTHER GOOD PLACE TO CHECK OUT THE FED/PROVINCIAL OPTIONS: http://www.homeenergyontario.ca/]
Friday, November 21, 2008
When 10% is 3%
The October stats for Toronto suggested a drop of 35% in number of sales and a whopping 10%+ drop in prices compared to last October.
It just didn’t feel right.
The volume drop wasn’t a big stretch – people are being cautious and last October was a world-beater.
But we weren’t seeing that kind of price drops as yet. So Gord gave himself a headache trying to weed through the numbers for a little more info.
Sure enough, the percentage of homes in the high price ranges dropped significantly. About 25% of homes sold in October 2008 were over $400,000, right up to the $2million and higher mark. Same time last year over 30% of homes were up there.
By one rough calculation (quite a few assumptions in the absence of detailed data), the average price drop would have been about 3% rather than the reported 10-13% if the distribution of home prices had been the same.
Proportionately fewer million-dollar homes on the market selling for less money can have a distorting effect on the overall averages.
So, stuff is going on and a lot of it isn't very good. But the risk of "falling sky" is much less where most of us are standing than what the headlines often suggest.
It just didn’t feel right.
The volume drop wasn’t a big stretch – people are being cautious and last October was a world-beater.
But we weren’t seeing that kind of price drops as yet. So Gord gave himself a headache trying to weed through the numbers for a little more info.
Sure enough, the percentage of homes in the high price ranges dropped significantly. About 25% of homes sold in October 2008 were over $400,000, right up to the $2million and higher mark. Same time last year over 30% of homes were up there.
By one rough calculation (quite a few assumptions in the absence of detailed data), the average price drop would have been about 3% rather than the reported 10-13% if the distribution of home prices had been the same.
Proportionately fewer million-dollar homes on the market selling for less money can have a distorting effect on the overall averages.
So, stuff is going on and a lot of it isn't very good. But the risk of "falling sky" is much less where most of us are standing than what the headlines often suggest.
Friday, September 19, 2008
Getting Tanked
Tankless Water Heaters, pro and con...
Tankless water heaters are becoming more common and somewhat more affordable. Their appeal is based on the idea of continuous hot water and space savings.
The Europeans have had lots of good experience with tankless water heating for years and years. BUT, their energy costs have been much higher than ours for years and years. And they typically use less hot water and use it in smaller spaces.
The space-saving benefit could make them a great choice in a reno or a small space. The energy savings are real and maybe it's worth a premium to you for just that reason alone -- they use less energy. The dollar savings will get even better as our energy costs rise.
BUT ... right now, the economics are barely there or not there at all. The higher initial cost of a tankless heater can eat up ALL the energy savings over the ENTIRE LIFE OF A WATER HEATER !!
Consumer Reports has done the lab work and I encourage you to do the research if you are thinking of installing one of these products. See their report HERE
Helping You is What We Do !!
Tankless water heaters are becoming more common and somewhat more affordable. Their appeal is based on the idea of continuous hot water and space savings.
The Europeans have had lots of good experience with tankless water heating for years and years. BUT, their energy costs have been much higher than ours for years and years. And they typically use less hot water and use it in smaller spaces.
The space-saving benefit could make them a great choice in a reno or a small space. The energy savings are real and maybe it's worth a premium to you for just that reason alone -- they use less energy. The dollar savings will get even better as our energy costs rise.
BUT ... right now, the economics are barely there or not there at all. The higher initial cost of a tankless heater can eat up ALL the energy savings over the ENTIRE LIFE OF A WATER HEATER !!
Consumer Reports has done the lab work and I encourage you to do the research if you are thinking of installing one of these products. See their report HERE
Helping You is What We Do !!
Tuesday, August 26, 2008
Who's in Your Basement ?... or ... Do you know where your kids are?
OK, August is nearly over so I can't deny it any longer. It's back-to-school time. For some of you that may mean young people appearing in your home. For others, your young people are heading off into the big world and may be in someone else's home, an apartment, dorm, etc.
Along came a newsletter from "the Fire Guy" that seemed like a good bit of parental or landlord advice. The Fire Guy's site is www.pcfirecode.com His main business is assessing basement apartments and their ilk for upgrade needs to pass fire code.
Anyway, here's the newsletter:
The Independent Fire Code Specialist - Protecting Your Interests
________________________________________
Smoke Alarms
It is the law in Ontario to have working smoke alarms on every storey and outside all sleeping areas. The law applies to single family, semi-detached, townhomes and apartments (including basement apartments), whether owner-occupied or rented. Rooming houses have specific regulations about smoke alarms or fire alarm systems. In addition to smoke alarms within each unit or suite, apartment buildings and student residences operated by the school may also have a building fire alarm system. Make sure the landlord, administrator or super-intendent identifies and explains the fire alarm and detection features in the building and unit.
Carbon Monoxide Alarms
The Ontario Building Code requires carbon monoxide (CO) alarms in new buildings that contain a fuel-fired appliance. However, many existing buildings were constructed prior to this requirement and may not be equipped with CO alarms. If the building has a fuel-fired (natural gas, oil, propane or wood) appliance, a CO alarm should be installed. Check with the fire department or municipal office to determine if there are by-laws requiring CO alarms.
Fire Separations
Students often find accommodation in older homes that have been converted to apartments or rooming houses. At the time of the conversion, a building permit should have been obtained to ensure that fire safety features such as proper exits and fire separations between units are provided. Ask the owner if the property complies with the Building Code and Fire Code and to explain the fire safety features.
Exits
It is important to consider how people will escape from a room or apartment in an emergency. Every room or apartment requires adequate exits that will permit unobstructed escape from the building. Make sure to ask the landlord or superintendent to identify all of the designated exits. All windows and doors should open fully and easily. Stairways and hallways must not be used for storage as this can pose serious fire safety hazards. Furniture and other obstacles can physically block exits and may fill hallways or stairways with smoke if they catch fire. This practice must be strictly avoided.
Fire Escape Plans
In a fire emergency, everyone must know what to do and where to go. Large apartment buildings and student residence buildings require a fire safety plan, which informs the occupants about emergency procedures. Ask the building administrator or superintendent to explain the procedures in the fire safety plan.
Smaller apartment buildings and houses that have been converted to apartments or lodging rooms may not have a fire safety plan, however it’s a good idea to ensure there are two ways out of the unit. The alternate way out can be a window that can be safely exited in an emergency.
Security
Some property owners install bars on windows as a security measure. While this may seem appealing from a security point of view, it can prevent students from escaping in an emergency situation. Security bars on windows should be equipped with a quick-opening device on the inside so the bars can be removed quickly. Electrical Safety
Many buildings offering lodging to students are older homes that may not have upgraded wiring. Outlets in bathrooms or within one metre of the kitchen sink should be the Ground Fault Circuit Interrupter (GFCI) type. Consider the number and location of electrical outlets in the room or apartment. There should be enough outlets so that appliances such as lamps, computer equipment and stereos can be operated without the use of extension cords. If extension cords can’t be avoided, use multi-outlet power bars that are approved and provide surge protection and a circuit breaker. Make sure that electrical cords of any kind are not concealed under carpets or rugs where they can be easily damaged. Avoid overloaded circuits and octopus wiring.
For more information:
Contact the administration offices of the college or university. They will frequently maintain a registry of available accommodation for students. Call the local fire department to determine if the building has been inspected for Fire Code compliance.
Electrical safety tips and information about common electrical hazards can be found at the Electrical Safety Authority website at: http://www.esainspection.net/
Fire safety tips and information can be found at the Office of the Fire Marshal website at: http://www.ofm.gov.on.ca/
Safe Student Accommodations 101
10 tips for a safe place to live
As students prepare to move into shared or rented accommodations to attend college or university, parents, guardians and students themselves should take an active role in finding a safe place to live. It is essential for caregivers and students to talk about fire and life safety. Whether returning to school or leaving home for the first time, a discussion about good fire safety practices can help to ensure this exciting time in a student’s life is not marred by a fire tragedy.
LIVING SAFELY 101
WHAT EVERY STUDENT SHOULD KNOW TO PREVENT FIRE.
1. Look While You Cook: Stay in the kitchen when cooking – especially if using oil or high temperatures. If a pot catches fire, have a proper-fitting pot lid handy to slide over the pot and turn off the stove. Cooking requires constant attention. Distractions like televisions, cell phones, or computers can lead to a tragic cooking fire.
2. Candle With Care: If you use candles in your room or apartment, keep them away from anything that can burn and place them in a safe, sturdy holder with a glass shade or hurricane chimney. Place them where they cannot be knocked over and blow them out when leaving the room.
3. Keep An Eye On Excessive Drinkers: Alcohol is a common factor in many fire fatalities involving cooking and smoking. Be aware of roommates and friends who have been drinking excessively, especially if they are cooking or smoking.
4. Smoke Outside: Establish rules for smokers. If you permit smoking inside, use large, sturdy ashtrays that can’t be easily tipped over. Ashtrays should be emptied into a metal container not the garbage can. Check around furniture cushions after people have been smoking, especially if they have been drinking.
5. Use Electricity Wisely: Toasters, coffeemakers and microwaves should be plugged directly into an outlet. If you must use an extension cord, buy one that is the correct gauge for the appliance and has a CSA or ULC approval mark on the label. CSA or ULC approved power bars may be used for stereo equipment, computers and lights.
6. Clear the Clutter: Keep things that burn away from heat sources like stovetops, space heaters and electronic equipment. Tea towels and paper too close to burners can catch fire. Keep space heaters at least one metre away from bedding, furniture and curtains.
7. Working Smoke Alarms: It’s the Law: Your room or apartment must have working smoke alarms. Test them monthly and notify the landlord immediately if they’re not working. Dead batteries must be replaced right away. Nuisance alarms can be avoided by making sure smoke alarms are not located too close to the kitchen or bathroom. Consider getting a smoke alarm with a hush feature. Smoke alarms should be checked after any extended absence such as Christmas break and reading week. Never tamper with or disable a smoke alarm.
8. Plan To Escape: Know two ways out of your room or apartment in case of fire.
Identify all exits and make sure you can use them. If you live in a highrise, familiarize yourself with the building’s fire safety plan. If you discover fire, call the fire department from a safe location outside.
9. Be Equipped: To stay safe, all students should put together a package that includes a smoke alarm and carbon monoxide alarm, a battery powered lantern or flashlight and radio, extra batteries and a CSA or ULC approved power bar.
10. Learn More:
For more information about fire safety in student accommodations, contact your local fire department or visit:
http://www.ofm.gov.on.ca/
http://www.makeitstop.ca/
http://www.esasafe.com/
http://www.csa.ca/
So for all your Retrofit needs remember The Fire Guy
"Who is here protecting you from Fire and The Fire Departments"
Along came a newsletter from "the Fire Guy" that seemed like a good bit of parental or landlord advice. The Fire Guy's site is www.pcfirecode.com His main business is assessing basement apartments and their ilk for upgrade needs to pass fire code.
Anyway, here's the newsletter:
The Independent Fire Code Specialist - Protecting Your Interests
________________________________________
Smoke Alarms
It is the law in Ontario to have working smoke alarms on every storey and outside all sleeping areas. The law applies to single family, semi-detached, townhomes and apartments (including basement apartments), whether owner-occupied or rented. Rooming houses have specific regulations about smoke alarms or fire alarm systems. In addition to smoke alarms within each unit or suite, apartment buildings and student residences operated by the school may also have a building fire alarm system. Make sure the landlord, administrator or super-intendent identifies and explains the fire alarm and detection features in the building and unit.
Carbon Monoxide Alarms
The Ontario Building Code requires carbon monoxide (CO) alarms in new buildings that contain a fuel-fired appliance. However, many existing buildings were constructed prior to this requirement and may not be equipped with CO alarms. If the building has a fuel-fired (natural gas, oil, propane or wood) appliance, a CO alarm should be installed. Check with the fire department or municipal office to determine if there are by-laws requiring CO alarms.
Fire Separations
Students often find accommodation in older homes that have been converted to apartments or rooming houses. At the time of the conversion, a building permit should have been obtained to ensure that fire safety features such as proper exits and fire separations between units are provided. Ask the owner if the property complies with the Building Code and Fire Code and to explain the fire safety features.
Exits
It is important to consider how people will escape from a room or apartment in an emergency. Every room or apartment requires adequate exits that will permit unobstructed escape from the building. Make sure to ask the landlord or superintendent to identify all of the designated exits. All windows and doors should open fully and easily. Stairways and hallways must not be used for storage as this can pose serious fire safety hazards. Furniture and other obstacles can physically block exits and may fill hallways or stairways with smoke if they catch fire. This practice must be strictly avoided.
Fire Escape Plans
In a fire emergency, everyone must know what to do and where to go. Large apartment buildings and student residence buildings require a fire safety plan, which informs the occupants about emergency procedures. Ask the building administrator or superintendent to explain the procedures in the fire safety plan.
Smaller apartment buildings and houses that have been converted to apartments or lodging rooms may not have a fire safety plan, however it’s a good idea to ensure there are two ways out of the unit. The alternate way out can be a window that can be safely exited in an emergency.
Security
Some property owners install bars on windows as a security measure. While this may seem appealing from a security point of view, it can prevent students from escaping in an emergency situation. Security bars on windows should be equipped with a quick-opening device on the inside so the bars can be removed quickly. Electrical Safety
Many buildings offering lodging to students are older homes that may not have upgraded wiring. Outlets in bathrooms or within one metre of the kitchen sink should be the Ground Fault Circuit Interrupter (GFCI) type. Consider the number and location of electrical outlets in the room or apartment. There should be enough outlets so that appliances such as lamps, computer equipment and stereos can be operated without the use of extension cords. If extension cords can’t be avoided, use multi-outlet power bars that are approved and provide surge protection and a circuit breaker. Make sure that electrical cords of any kind are not concealed under carpets or rugs where they can be easily damaged. Avoid overloaded circuits and octopus wiring.
For more information:
Contact the administration offices of the college or university. They will frequently maintain a registry of available accommodation for students. Call the local fire department to determine if the building has been inspected for Fire Code compliance.
Electrical safety tips and information about common electrical hazards can be found at the Electrical Safety Authority website at: http://www.esainspection.net/
Fire safety tips and information can be found at the Office of the Fire Marshal website at: http://www.ofm.gov.on.ca/
Safe Student Accommodations 101
10 tips for a safe place to live
As students prepare to move into shared or rented accommodations to attend college or university, parents, guardians and students themselves should take an active role in finding a safe place to live. It is essential for caregivers and students to talk about fire and life safety. Whether returning to school or leaving home for the first time, a discussion about good fire safety practices can help to ensure this exciting time in a student’s life is not marred by a fire tragedy.
LIVING SAFELY 101
WHAT EVERY STUDENT SHOULD KNOW TO PREVENT FIRE.
1. Look While You Cook: Stay in the kitchen when cooking – especially if using oil or high temperatures. If a pot catches fire, have a proper-fitting pot lid handy to slide over the pot and turn off the stove. Cooking requires constant attention. Distractions like televisions, cell phones, or computers can lead to a tragic cooking fire.
2. Candle With Care: If you use candles in your room or apartment, keep them away from anything that can burn and place them in a safe, sturdy holder with a glass shade or hurricane chimney. Place them where they cannot be knocked over and blow them out when leaving the room.
3. Keep An Eye On Excessive Drinkers: Alcohol is a common factor in many fire fatalities involving cooking and smoking. Be aware of roommates and friends who have been drinking excessively, especially if they are cooking or smoking.
4. Smoke Outside: Establish rules for smokers. If you permit smoking inside, use large, sturdy ashtrays that can’t be easily tipped over. Ashtrays should be emptied into a metal container not the garbage can. Check around furniture cushions after people have been smoking, especially if they have been drinking.
5. Use Electricity Wisely: Toasters, coffeemakers and microwaves should be plugged directly into an outlet. If you must use an extension cord, buy one that is the correct gauge for the appliance and has a CSA or ULC approval mark on the label. CSA or ULC approved power bars may be used for stereo equipment, computers and lights.
6. Clear the Clutter: Keep things that burn away from heat sources like stovetops, space heaters and electronic equipment. Tea towels and paper too close to burners can catch fire. Keep space heaters at least one metre away from bedding, furniture and curtains.
7. Working Smoke Alarms: It’s the Law: Your room or apartment must have working smoke alarms. Test them monthly and notify the landlord immediately if they’re not working. Dead batteries must be replaced right away. Nuisance alarms can be avoided by making sure smoke alarms are not located too close to the kitchen or bathroom. Consider getting a smoke alarm with a hush feature. Smoke alarms should be checked after any extended absence such as Christmas break and reading week. Never tamper with or disable a smoke alarm.
8. Plan To Escape: Know two ways out of your room or apartment in case of fire.
Identify all exits and make sure you can use them. If you live in a highrise, familiarize yourself with the building’s fire safety plan. If you discover fire, call the fire department from a safe location outside.
9. Be Equipped: To stay safe, all students should put together a package that includes a smoke alarm and carbon monoxide alarm, a battery powered lantern or flashlight and radio, extra batteries and a CSA or ULC approved power bar.
10. Learn More:
For more information about fire safety in student accommodations, contact your local fire department or visit:
http://www.ofm.gov.on.ca/
http://www.makeitstop.ca/
http://www.esasafe.com/
http://www.csa.ca/
So for all your Retrofit needs remember The Fire Guy
"Who is here protecting you from Fire and The Fire Departments"
Market Update ... Prepare to be confused.
I've avoided any deep analysis of housing market conditions, trends, and predictions lately. Mostly because it all ends up sounding like "on the one hand ... and on the other hand" or simply "I don't know".
Here's what (I think) I do know.
Here's what (I think) I do know.
- The US market is a mess. It's been a mess for a while. It will be a mess for a while. The mess was about as predictable as messes can be.
- Canada is not the US. Yes, we get some spillover, but the economies, market conditions, regulatory and business environments are/were very different and mostly in our favour.
- You shouldn't read the newspaper articles about the housing market!
- OK, you should really. But if you do read them, you should read more than the headline. Almost universally, the headline is bad news and US-centric. Usually the article eventually gets around to explaining that not all the news is bad, and certainly Canada is different.
- The latest (August 20/08) from down south is that prices are down and there are still more houses on the market. However, under the headline is the information that the number of sales has turned up. The beginning of the end? The end of the beginning? A blip?
- Canada is not one market. For example, the West and Ontario are both "calming". The West because it got a bit overheated; Ontario because our economy is getting a little beatup by the US problems. Different causes will mean different degrees, durations, etc.
- Here in Toronto, the market is softening. A bit. There are less deals ... but only compared to a couple of the best years in history. There are less "bidding wars" ... but they still exist, and they always decline in the summer
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