Renovation Tip #3 Do the leg-work to set a realistic home reno budget

Tip #3: Do the leg-work to set a realistic home reno budget Still, in order to avoid unnecessary or unexpected costs when it comes to home renovations, you must first start with an accurate, honest budget. Here are four tips to get you there: No. 1: Get multiple quotes Never settle on a contractor before first interviewing and getting a quote. Better still, ask what their contract covers and how they handle ongoing communication and potential problems (remember, surprises can … Read More

Renovation Tip #2 Seriously consider whether or not you are over-renovating

Many homeowners are convinced that the only way to increase the value of their home is to spend a lot of money on high-end finishes and expensive home remodels. But home renovations rarely, if ever, offer a $1 for $1 return. In fact, sometimes the simplest or least expensive updates can give the best returns. For instance, according to Remodel magazine, re-insulating your attic can recoup as much as 117% on the reno dollars you spent, while you can expect … Read More

Renovation Tip #1 Don’t Underestimate

From data compiled from over 2 million users’ search behaviour and project posts, TrustedPros.ca, a site that helps homeowners find and rate home reno contractors, found that homeowners consistently set unrealistically low budgets for a few of the most popular renovation projects. For instance, the national average budget for a kitchen renovation came in at just under $14,480—at least $5,000 under-budget for the average Canadian kitchen renovation, explains Nicole Silver, spokesperson for TrustedPros. “It takes licensed electrical, plumbing and gas … Read More

Mortgages…What about them?

What is a Mortgage? A mortgage is made up of two parts: principal and interest. Principal is the actual amount borrowed. Interest is the lender’s fee you are charged for borrowing. You’ll have to decide on an amortization period (the length of time it will take to completely pay off the mortgage) and the term, or length of time each mortgage agreement guarantees the interest rate. Before you go to a financial institution or mortgage broker, keep in mind that … Read More

5 Tips for Home Buyers

Did you know that the majority of first-time homebuyers are Millennials? That’s right; Canadians born between 1980 and 1995 now represent a full 77 per cent of first-time homebuyers. If you fit the mold, then get a leg up on the competition as we enter the year’s hottest real estate month. Here are our five top tips for first-time homebuyers. First-Time Homebuyers’ Tip #1: Prioritize your house (or condo) hunt April is the busiest month for real estate transactions. The … Read More

Curious about Egress Windows?

Safety is a primary concern to buyers so when a home inspector brings to the attention a problem that deals with safety it will likely become a sticking point in negotiations. A frequent concern is that of small bedroom windows, particularly in the basement, not meeting the building code for egress. Window size in the basement is often restricted due to the foundation elevation however windows in other rooms which are being utilized as bedrooms may also not meet the … Read More