The Advantages of Tankless Water Heaters

For a Free Home Value Report,
CLICK HERE

If your current water heater is reaching its end of life or you're looking for a more energy-efficient water heating solution, then it may be time to give an on-demand – or tankless – water heater a serious look.

Traditional water heaters used by most Canadian homeowners store heated water in a hot water storage tank. As hot water is used up from the storage tank, it gets replaced by incoming cold water, lowering the temperature of the stored water. An electric heating element or gas burner is activated by a thermostat to slowly reheat the water in the storage tank to a specified temperature. The storage tank stores the hot water ready for use and automatically keeps the water hot as the water gets used, or as it cools down through natural heat loss.

In contrast, an on-demand tankless unit has a heating device that is activated by the flow of water. When a hot water faucet is turned on and the water begins to flow, a sensor detects the flow and the heating elements turn on instantly to deliver a constant supply of hot water. The tankless water heater will remain on until the hot water faucet is turned off. As soon as the flow sensor detects that water has stopped flowing, the power to the unit is turned off completely.

There are numerous advantages to using a tankless water heating system, including the following key highlights:
Reduces water heating costs as much as 50%. Tankless water heaters heat entirely on demand, so when hot water is not being demanded, absolutely no energy is being consumed and the stand-by heating loss is completely eliminated.
Unlimited hot water. Tankless heaters never run out of hot water. They can literally run all day long if necessary and they will never stop producing hot water since they heat water instantly on demand—no more cold showers.
Reduces the risk of scalding. Sophisticated tankless heaters allow you to set the ongoing water temperature to a much more reasonable and safer temperature, closer to the actual temperature you will use the water at, thereby reducing the risk of scalding.

More reliable. Since hot water is not stored, tankless water heaters generally handle hard water minerals and sediments much better than conventional tanks. This makes them far less likely to develop corrosive leaks causing expensive water damage in your home. If properly maintained, an on-demand water heater will keep its efficiency throughout the entire lifetime of the unit—up to 20 years with normal maintenance.

Saves space. Tankless water heaters are about the size of a briefcase (electric units). They save valuable floor space that can be used for storage, etc., especially in condos and apartments. The only requirement is that the heater must be installed at least three feet away from a door, window, or vent
.
Other points to consider when selecting a tankless water heater
You should keep in mind that a tankless water heating system will cost more to install than a traditional hot water tank—initially. However, the significant energy savings, fewer repair calls, and the ultimate convenience of having unlimited hot water at your fingertips more than makes up for this cost over the long run.

Determining the correct sizing for an on-demand water heater is crucial and to do so correctly, the peak hot water demand the unit will need to accommodate must be established. On-demand water heaters are rated according to the number of gallons of water per minute that can be raised to the desired temperature.

Also, the volume of hot water that an on-demand heater can deliver is directly correlated to its gas or electricity input. Therefore, if there are several appliances already running on natural gas or electricity, your house supply source may need to be upgraded to handle the increased demand on power. This could affect the cost and set up time for your new tankless water heater.

Comparing the old technology with the new, one thing is clear: a tankless water heater will be cheaper over the long run than a conventional water heater. If a homeowner has a choice between the two, gas or electric, in most cases the tankless gas water heater will be cheaper in the long run than an electric.

Home Security Tips

For a Free Home Value Report,
CLICK HERE

 

While it's difficult to protect your home from professional thieves, most home burglaries are done by amateurs. These thieves are more easily thwarted if you employ some simple security precautions.

Below are several ideas to help make your home more safe and secure. Many of these ideas have come from law enforcement organizations and communities similar to yours.

Community Safety
The best way to deal with problems is to stop them before they start. All communities are safer when citizens act together and crime rates decline or remain low. Neighbourhood safety is a shared responsibility, in which both citizens and police have important roles.

Small steps are often the best way to start building a community, which could involve such simple things as alerting neighbours when suspicious activity seems to be happening.

• get to know one another – residents should become familiar with the routines in their neighbourhoods
• be aware of strangers and look out for each other
• leave keys and emergency phone numbers with a trusted neighbour
• keep up appearances – a well-tended neighbourhood is less attractive to criminals and vandals

Watch for Suspicious Activity
One of the most useful tools for crime prevention is to call 911. Many people believe that the police do not want to be called if something suspicious is happening, but this is not so. When in doubt, call the police. Here are some situations in which you would call 911:

• unusual noises, such as someone screaming for help
• a vehicle that seems to be "casing" the neighbourhood
• furniture being removed from homes when the owners are on vacation or at work
• an abandoned car
• a stranger looking into homes or parked cars
• unusual activities of pets, such as a dog barking that is normally quiet
• a salesperson going door to door who doesn't have proper identification

Install an Alarm System
Installing an electronic home security system is one of the most popular methods of protecting your home. One drawback is that the vast majority of residential entry alarms are false, which is a waste of valuable police resources, as well as reducing the integrity of the system.

An alarm system is intended to detect a burglary, but it will not necessarily prevent one. A system is only as good as its user and should be installed along with good physical security reinforcement, like deadbolt locks, adequate lighting, secure basement windows and strong exterior doors.

There are two types of alarms: monitored and unmonitored. An unmonitored alarm may mean you rely on your neighbours to call the police, which may or may not happen. As for a monitored alarm, it is possible for thieves to cut the phone lines before they enter, which disables the alarm. Speak to an alarm company representative about obtaining a system, which does not use the telephone wires to send its signal to the alarm company or consider installing a telephone line shield, which protects the phone line. All monitored alarm systems are serviced by an intermediate private company prior to any notification of police.

5 Home Renovations That Pay Off

 

For a Free Home Value Report,
CLICK HERE
 

When it comes to preparing your home for sale, some home sellers make it their objective to get the most return on their homes. Before starting any home improvement, you should evaluate the return on investment (ROI). Ask yourself what renovations will boost the resale value of the house.

 

Here are a few renovations ideas that pay off.

1. Floors
Replacing dated, scuffed floors can give your house a new sheen and make small spaces seem larger. Flooring can generate a payback as high as 75% on investment.  If you have carpet in the family, dining and living rooms, it is recommended to change to hardwood and/or tiles. Not only will it make your home more elegant, but you will also enjoy the benefits of a healthier indoor environment, with fewer allergens.

According to the Appraisal Institute of Canada, the ROI on floor upgrades ranges from 50% to 75%. That means if you spend $5,000 redoing your floors, you can expect to recoup anywhere from $2,500 to $3,800 of your costs. If you’re a handy person, you can save yourself a few hundred dollars by installing the floors yourself.

2. Interior and exterior paint
Painting is an inexpensive and very profitable renovation project. Rolling on a new interior or exterior paint colour can generate a 50% to 100% return on investment. If you are planning on selling your house, choose neutral shades over trendy colours that may not appeal to all buyers.

3. Kitchen
Instead of spending a bundle gutting this essential room, think smaller. Counters, sinks, plumbing and lighting fixtures and appliances can change their look and cost far less than a major renovation. From an investment standpoint, the kitchen may be the best place to sink your money: Kitchen facelifts pay back about 80% of their cost.

Granite is the standard high-end finish for kitchen counters, but high-end synthetic stone materials look just as good, wear better, and cost about the same. Installing a granite or solid-surface counter, along with a stainless-steel sink and faucet, will probably run $5,000 to $8,000.

Your contractor might suggest that, while you’re replacing the counter, get a new backsplash, too. Save your money, as backsplashes don’t get the wear and tear counters do and can add $2,000 or more to the cost of your modest upgrade.

3. BathroomsYou can expect to recapture about 75% of the cost of a minor bathroom remodel. Most bathtubs already have showers built in, so the plumbing infrastructure is likely there. Replace a dated, little-used tub with a spacious shower and multiple showerheads. Similarly, adding a decent-sized shower to a half-bath makes it a whole bath — and much more marketable.

You can purchase a big “rainfall” showerhead for about $200, or spring for a fancier handheld and other gadgets for $500 and up. Don’t bother building a niche into the shower wall to hold shampoo bottles and such (typical cost: about $300).

4. Closets
Large and organized closets are a big draw for prospective buyers, though it’s impossible to put an exact payback percentage on them. Fitting a walk-in master closet with drawers, shelves, shoe racks, hooks, and poles can cost $500 to $2,500 or more, depending on the quality of the materials and the complexity of the design. Wood is the most expensive material, but typically delivers the best return on investment.

This is a job where it’s easy to overspend. So decide exactly what you want and need before you either buy the supplies or bring in a professional closet organizer, who will charge $50 to $150 an hour. Make sure you square reality with the many options: Will you really sort your socks into separate drawer dividers?

5. Energy Upgrades
Real estate agents say energy-saving amenities make a house more attractive to buyers. New windows, for example, return 77% of the project cost, according to Remodeling Cost vs. Value Report. But there’s another good reason to upgrade now; you can, in some cases, let the government help shoulder the cost of projects to make your house more energy efficient and more attractive to prospective buyers. 

You may need to wait years to recoup some energy conservation moves. So if you’re more worried about money than your carbon footprint, run the numbers to ensure you’ll be there by the time the cost gets covered. When you’re ready to sell, spell out your energy improvements for prospective buyers. Create a worksheet showing what you spent, plus the before-and-after utility bills.

Remember to keep receipts and careful records of all your energy-saving expenses. This will keep you square with the Canada Revenue Agency and let you prove to potential buyers that you have lowered their future energy bills. 

If You're Selling Your Home, Appeal to the Buyer's Senses!

 

For a Free Home Value Report,
CLICK HERE

 

 

Every seller wants his or her home to sell fast and bring top dollar. it's not luck that makes that happen. It's careful planning and knowing how to professionally spruce up your home that will send home buyers scurrying for their checkbooks.

Your home will be judged not only on its outward appearance but also on the feelings it evokes in those who view your property. Follow these simple tips to prepare your house and turn it into an irresistible home.

Sight 
Use light to showcase your home. Open draperies in the daytime and turn on lights (day and night) to accentuate a cheerful atmosphere. If you have a fireplace, burn a Duraflame log. De-clutter and remove any personal photographs and any potentially offensive posters or religious signs.

Sound 
Consider playing soft background music while people tour your home. If there is exterior noise, such as traffic or nearby construction, work with your sales agent to schedule showings around noisy times of the day.

Smell 
Make sure your home is sparkling clean. Grind a fresh lemon in a garbage disposal or boil cinnamon sticks to add a clean, fresh scent. Candles and flowers look nice and smell pleasant as well. Lingering scents of strong-smelling foods, smoke or pets should be aired out prior to showing your home.

Taste 
Realtors and home stagers say that one of the most appealing smells to people is fresh baked cookies. Bake a small batch of cookies before every showing (or at least on the weekends when there will be multiple showings). This not only adds a pleasant scent to the home but also adds to the hospitable home atmosphere. Potential homebuyers may also appreciate a cookie or lemonade.

Add a human touch 
Your home should appear livable. Update the look by making simple changes like rearranging furniture and accessories, painting, and adding stylish and practical pieces.

Buyers who come with agents are more at ease when the owner's not around, so it is best if you take your children and pets for a short walk during the showing. To ensure your safety, remember to remove keys, jewelry, and other valuables from your home during showings.

The key to getting your house sold is to make it stand out from the comparable real estate properties around you. This process is best done by making an emotional lure with a lot of bait. That bait comes in the form of unique characteristics of livability. Use plenty of hooks, and people looking to purchase a home will swarm to your bait and take it.

First-TIme Home Buyer's Tax Credit

For a Free Home Value Report,
CLICK HERE

 

The First-Time Home Buyers Tax Credit (HBTC) is one of the measures provided by the federal government in 2009 to encourage investment in Canadian housing.

For 2009 and subsequent years, the HBTC is a new non-refundable tax credit, based on an amount of $5,000, for certain home buyers that acquire a qualifying home after January 27, 2009 (i.e., generally means that the closing is after this date).

The HBTC is calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2009, the credit was $750. Each year, the credit is recalculated, so it may be higher or lower than previous years.

How do you qualify for the tax credit? You, and anyone you purchase the home with must be considered a first time home buyer to be eligible for the tax credit. The home must be used as your principal residence, and if you purchase with your spouse, common-law partner, or even a friend, then either one of you can claim the credit (or share it). However, the combined total cannot exceed $750.

If you are a person with a disability or are buying a house for a related person with a disability, you do not have to be a first time home buyer. See the Government of Canada website for further details.

What is a qualifying home?
To qualify for the First-Time Home Buyers Tax Credit, a home must be a housing unit located in Canada, including mobile homes, condominiums, and apartments. A share in a co-operative housing corporation that entitles you to possess, and gives you an equity interest in, a housing unit located in Canada also qualifies.  However, a share that only provides you with a right to tenancy in the housing unit does not qualify.

Also, you must intend to occupy the home or you must intend that the related person with a disability occupy the home as a principal place of residence no later than one year after it is acquired.

How to Claim the First-Time Home Buyers Tax Credit? First-time homebuyers purchasing a home may claim the HBTC on their income tax returns. Starting with the 2009 taxation year, line 369 is incorporated into the Schedule 1, Federal Tax to allow you to claim the credit in the year in which you acquired the qualifying home.

The home must be registered in your or your spouse's or common-law partner's name in accordance with the applicable land registration system.

Claimants should ensure that documentation supporting the purchase transaction is available if requested by the Canada Revenue Agency. Claimants are also responsible for making sure that all applicable eligibility conditions are met.

Keep the HBTC in mind when you consider buying a Canadian home. It’s just another great reason to take the final step of real estate home ownership.

For more Information visit: http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html

Video Real Estate Market Update for Waterloo Region - April, 2018

For a Free Home Value Report, CLICK HERE


“Home sales in April were as brisk as the temperatures”, says Tony Schmidt, KWAR President. “While down from last year’s record breaking number of sales, it was a slightly more active April than average historically speaking.”

Residential sales in April included 343 detached (down 30.7 per cent compared to April 2017), and 185 condominium units (up 12.8 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 41 semi-detached homes (down 22.5 per cent) and 46 freehold townhouses (down 13.2 per cent).

The average sale price of all residential properties sold in April decreased 6.6 per cent to $478,578 compared to the same month a year ago. Detached homes sold for an average price of $569,159 a decrease of 4.2 per cent compared to April of last year. During this same period, the average sale price for an apartment style condominium was $296,958, an increase of 10 per cent. Townhomes and semis sold for an average of $386,072 (up 2.5 per cent) and $402,842 (down 3.3 per cent) respectively.

The median price of all residential properties sold last month was down 7.4 per cent compared to April of last year at $440,000, and the median price of a detached home during the same period decreased 3.9 per cent to $511,750.

REALTORS® listed 974 residential properties in K-W and area last month, down 2.2 per cent compared to April of 2017. The number of active residential listings on the KWAR’s MLS® System to the end of April totalled 993, which is 78.6 per cent more than April of last year but still significantly below the historical (2007-2016) ten-year average of 1,637 listings for April.

“Looking closer at how the forces of supply and demand were at work last month, it becomes really clear that the question of it being a buyer’s or seller’s market really depends on which price range you’re in,” notes Schmidt. “Last month 71 per cent of all residential sales were for less than half a million dollars, but the number of homes listed in that price range on our MLS® System right now is a little less than half of all the inventory.”

Schmidt believes the new stress test introduced earlier this year is fueling demand for lower priced homes and making it more difficult for prospective move-up buyers to get financing.
The average days it took to sell a home in April was 21 days, compared to 11 days in April 2017.