Home Renovations

A lot of thought should go into a renovation before you start the project.  Particularly if you have purchased an older home that needs extensive renos.  If you make changes midway during the process it will add considerably to your costs.  This project is in the process.

CHANGES TO TD FINANCING

On Friday, TD further explained the logic behind its controversial across-the-board switch to collateral charge mortgages.   

TD says it instituted collateral charges on its entire product line, in part, because “20 times” more customers refinance with TD than switch their mortgage using an assignment.  Moreover, the bank says collateral charges let customers refinance at TD, or change among TD products, without incurring legal fees. “20 times” is a big ratio.  

However, compared to the average lender, TD has a disproportionate number of customers in collateral charges already. That’s relevant because lenders don’t accept TD’s collateral mortgages in assignment. Therefore, by default, there won’t be as many assignments coming from TD compared to lenders who register a larger proportion of “standard charges.”  

In any case, TD’s internal refi-to-switch ratio is meaningless to those homeowners who want a regular low-cost mortgage and don’t intend to refinance.

All of this boils down to customer choice.  TD doesn’t allow the option of choosing between a standard or collateral charge (its mortgages are all collateral now), so you need to think ahead: 

If your situation is such that:
-  You want a secured  line of credit with your mortgage or you think there’s a high probability you’ll refinance during your term; or,
- TD gives you the best overall deal (e.g. one that is at least $700-800 better than the next best option)…
…then TD may be a perfectly reasonable fit. 

If instead, you:
1. Won’t need to refinance during your term
2. Don’t need a secured line of credit
3. Like to shop around for the best deal
4. Don’t want to pay legal fees if you switch lenders at maturity; and,
5. Can get the same mortgage deal elsewhere…
…then TD is probably not the best choice for your mortgage.

As usual, there are always exceptions so speak with a mortgage professional for guidance specific to your circumstances.

Living in the Burlington Hamilton area has some great perks.  One of these is our proximity to the Niagara wine growing area.  There are many great wineries in the Niagara region.  One of these is Peller Estates.

Peller Estates vintages have been noticed by wine connoisseurs the world over.  New York city, home to some of the world's finest dining establishments, has a number of wine lists that feature the wines of Peller Estates, including ‘per se', the new hotspot of Tomas Keller, known as "America's Best Chef". In Chicago at Charlie Trotters, in the UK at Gordon Ramsay and at Harrod's, and aboard the Cunard Oceanliners, oenophiles the world over are pairing Peller Estates wines with amazing meals, as they celebrate life's everyday occasions with friends and family. 

Closer to home, the exquisite Peller Estates winery in Niagara-on-the-Lake hosts nearly half a million visitors each year who can enjoy a wide selection of wines crafted by winemaker Lawrence Buhler, as well as dine on the cuisine of renowned Chef Jason Parsons in a winery restaurant that has earned significant praise in its own right, rated "Extraordinary" by Zagat.

Many of the wines that Peller Estates exports around the globe are Icewine - a rare, winter treasure that Canada is uniquely able to produce every single year. No other climatic region on earth has the ability to warm the vines enough in summer to mature even the true sun-bathing grapes like Cabernet Sauvignon, and then chill the vines repeatedly to less than -10 degrees Celsius to produce Icewine, every winter. While Icewine has certainly earned Peller international esteem, most Canadians tend to raise a glass of table wine most often. And for those of us who love a big, fruity red as the weather chills, Peller has a new "something" to be proud of - an award never before won by a Canadian winery - Best Cabernet Sauvignon. 

Don’t try to be Martha Stewart.  If Christmas Dinner is at your house offer to do the turkey and have your guests each bring a dish.   

Only do a light cleaning before guests arrive.  With a lot of people around, the house will just get messy again.  Do the major cleaning after the holidays. 

Consider drawing names for gifts rather than having to purchase for everyone.  You can then afford a pricier gift and have a lot less stress. 

If you have a huge family gathering, consider renting a hall and have everyone chip in on the cost.  Try your church or the local legion.

Remember, Christmas is a time for family and friends to enjoy being with each other.  It is all about being together, so don't stress, just enjoy.

During the Christmas Season, stay in shape by going hiking.  Even though the weather may be cold, it is invigorating if you dress properly.  Walking is one of the best ways to get exercise and it is free. 

The Bruce Trail is Canada’s oldest and longest footpath.  The 1885 km runs from Queenston in Niagara Falls through Burlington and on to Tobermory.  There are also 400 km of sidepaths and it provides the only continuous public access to the outstanding Niagara Escarpment. 

If the Bruce Trail isn’t for you, then you can visit some of the 150 waterfalls in the City of Hamilton.   

Whatever your choice, enjoy some outdoor activities during this holiday season.

A good idea for a Christmas gift or a gift from a Realtor® for a new homeowner is a basic tool kit.

A number of basic tools are a must; a metal hammer, screwdrivers with a variety of heads, a small saw, electric drill, adjustable wrench, pliers and measuring stick. Sandpaper and an assortment of screws and nails are also very handy. These tools will help with simple repairs such as tightening drawer handles, adjusting a door, installing a lock, hammering a nail that is sticking out etc.

Some sellers don’t realize the importance of an uncluttered home.

 I recently went through a newly listed home that had so much stuff that I didn’t know where to look.  I almost got a headache thinking of packing it all up and moving it.  The homeowners where downsizing.  I don’t remember much about the house, but sure remember the clutter.   

If as a Realtor® all I remember is clutter, then what will be the reaction of a Buyer? 

If you are going to move, it will have to be packed, so do it before you put your home on the market.

When purchasing a home, take into account house insurance.   Insurance companies are becoming reluctant to take on risks that may not have bothered them before.  In Burlington, check with your insurance company to make sure that they will insure you in your new home.

Premiums have increased and so have deductibles.   Are you covered for damage from sewer back-up.?  Does the home you are purchasing have 60 amp electrical wiring, an old oil tank, or a gas furnace over 20 years old?  Are you a first time buyer with no previous house insurance or have you made previous claims against house insurance?  All of these issues can make a difference on how high your premiums will be or even if your company will insure the home.

It is always best to call your insurance company before you call your Burlington Real Estate Sales Representative.

Did you know that there is no guarantee to the right to own property in Canada.  Your property can be expropriated without compensation.  A municipal council, legislator or a majority in parliament can overturn your property rights at any time.

There are countless restrictions on property rights, i.e. property taxes, heritage zoning, rezoning which will affect property value. 

The Ontario Real Estate Association (OREA) contributed to a significant victory which changed legislation that previously allowed anyone with a prospector's license to enter property, tear down fences and damage the property in order to prospect for minerals.