Saturday, June 23, 2018

Updating Your Kitchen Lighting


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The kitchen is becoming the hub of the house. It is not just a place where meals are prepared—most families enjoy gathering in the kitchen. Some people like to entertain their close friends in the kitchen. As well, kids are also opting to do their homework there.
The right lighting can make a kitchen glow and give small space an airier ambiance. New lighting is also cheaper than carving out windows or skylights. The type of lighting you choose will be influenced by the size of the kitchen, the colour theme, cabinet finish, the location of the windows and doors, the amount of light needed to see inside the cabinets, and other storage.
When looking for the right kitchen lighting, first decide what kind of atmosphere you want your kitchen to have. Kitchen lights come in an infinite number of varieties, so it is important to know what you are looking for first.
Choosing the right type of lighting mainly involves identifying areas of the kitchen where you want lighting.
Start with overhead light fixtures. Most people have at least some recessed lighting fixtures in their kitchens. They distribute the lighting nicely and they are a great first “layer” of light to establish. You can also consider pendant lights for general overhead lighting. Even though the light source is more focused, several pendant lights that are grouped together can add a stylish touch to the room. They’re also often less expensive than chandeliers.
Task lighting, such as kitchen cabinet lighting, is small sources of light placed overhead of specific task areas. This is also commonly used in closets, cabinets, pantries, etc. Track lights over the sink will give you sufficient light to do the washing.
To finish up kitchen lighting, think about accent lighting. These are lights that provide soft, non-directional light—and usually determine the mood of your kitchen. Even bringing a small lamp into the corner of the kitchen can help. The key is to create several different layers of light.
You can install accent lights inside cabinets, especially if they have glass doors. Put on some spotlights to highlight a photo or an interesting detail. To add more interest to your kitchen, consider installing dim lights under the toe-kick. Toe kick lighting can illuminate the floor and produce a balanced lighting effect from ceiling to floor when combined with other lighting types.
To enhance the look of the kitchen as a whole, you can use decorative lighting. Downlighting is used for its energy efficiency and bright clear light. Low voltage bulbs, CFLs, and LEDs are energy efficient kitchen lighting and are widely used for good quality lighting. Pendant lighting is typically preferred to recessed fixtures.
Lighting glare can be avoided by mounting the lights to the back of the cabinets. If you have a breakfast area in the kitchen, that is likely used for reading too, look at installing an overhead light. There is a wide choice including chandeliers, flexible track lighting, decorative pendants, etc. that you can use with dimmer switches to create the effect you want depending on the purpose. The best thing to do is combine ambient, task and decorative lighting for the ultimate kitchen lighting plan.
Replacing a boring ceiling light with a fancy chandelier can create more design impact. Also, consider a bulb makeover. Swapping your old incandescent bulbs for new, colour-enhancing fluorescents can make your worn cabinets looks brighter and better. For working areas, under cabinet halogen, xenon or fluorescent task lights can do the trick because they cast fewer shadows. For a designer look, hang two or three pendant lights over an island or a sink.
If the kitchen lighting layout is not planned properly, even the smartest kitchen can look dreary. Today, there are many wonderful choices available so that you can choose the right type of illumination that is easy to install and provides the kind of light you want.

Thinking of Buying a Condo? Read this first!




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Buying your first condo can feel intimidating at first, but the process is a lot easier than you think. Your real estate agent, lawyer, and bank representatives can help guide you in buying the right condominium that suits you, so choose them wisely and don't be afraid to ask questions. Here are some tips to help you start your search and find your dream condominium.
1. Make sure you get what you want Before you start hunting for a condominium, make a list of your priorities. Consider approximate size, number of bedrooms and bathrooms, location, price, amenities, and how soon you want to move. Check the "Condominium Buyer's Guide" from the Canada Mortgage and Housing Corporation website to help you start searching for potential condos.
2. Stay focused Even the thriftiest shopper can lose perspective when dealing in six-figure amounts. What's another $5,000 when you're already spending $250,000, right? Well, if you consider interest, it's quite a lot. Know what you can afford, get pre-approved for your mortgage, and stick to your budget.
3. All the world's a stage Whether you're looking at model suites or resale condos, be aware of the staging that's been done to make the space more appealing.
4. Know where to store it Storage space may not seem as exciting as a gourmet kitchen or a wrought-iron spiral staircase, but when you're about to squeeze your whole life into 700 square feet, it's important that there's room for all your possessions.
5. Go with your instinct Finding the right condo is like finding love. If it's meant to be, sparks will fly. If you haven’t found that dream condo after looking at 10 or so places, don't be disappointed, just keep on looking.
6. Does your car have a space? Parking can be an uncovered stall, a covered stall, indoors but unheated or indoors heated and secured. Its legal status can be either assigned common-area space, or legally-titled ownership. If it is assigned, it should be protected by a formal lease agreement. You should also find out if there is guest parking.
7. Warm and cozy Heating is an important issue in condo buildings. In apartment condos it is usually central gas-fired hot-water heat, which means the cost is covered by your monthly condo fees. However, older hot-water heating systems can be loud! Electric heat is convenient, quiet and controllable in each room, but it’s expensive. Learn about the condo's heating system and see if it works for you.
8. Who are your neighbours? Renters will be found in any condo building. That’s good for your flexibility as an owner, but find out how many renters are in the building. If it’s primarily renters, this means that investors own the building and they may not share your standards of operation and maintenance. You may also find a less sense of community in the building.
9. Light Orientation of the condo is important if it’s an apartment facing only one direction, less so if it’s a townhouse or duplex bungalow condominium with more exposures. How much sun does the condo receive, and is that sun hitting your bedroom windows at 5:00 a.m. during the summer? You may prefer it, or you might hate it, so be aware of which way the condo faces and whether it will be bright enough, too hot, or too dark for your needs.
10. Quality Counts Construction of condominiums can vary dramatically. Concrete is more long lasting and generally quieter than frame construction, but “post-tensioned” concrete construction can have problems requiring maintenance. Concrete transmits tapping sounds, while wood-frame buildings can quiver slightly under heavy footsteps. Remember, quality will be your best investment.
11. Check and double check If something bothers you a little on the first sight, it'll bother you a lot when you live there. You shouldn't have to talk yourself into a $250,000 purchase. Think twice before you make the deal. Check all documentation carefully and make a wise decision.

When is the Best Time to Sell a House?



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A lot of considerations go into selling your home. It can often be a chaotic time—you’ll be choosing a real estate agent, making necessary improvements, coordinating showings and open houses, and possibly shopping for your new home as well. But one consideration many people overlook is how the time of year affects the sale.
In Canada, where there are four distinct seasons, seasonal influences play a large part in creating good selling conditions. Wintertime brings with it a series of challenges, among them the weather, holiday distractions and lack of interest from buyers, therefore the market usually slows down during this season.

While late spring through early summer tends to be the best period to sell your home namely (May and June). Sales data shows that houses sold during this time frame sell quicker (18.5 days on average) and often for a marginally higher asking price.

As with every rule, there are exceptions. While May shows the highest average odds, your mileage may vary for the following reasons:

1-Climate.  You need to adjust to your local climate, If you live close to the southern borders, you may be able to benefit from the weather much earlier than someone who lives in the northern areas where warm, sunny weather is rarer. Adjust your selling window accordingly.

2-Location. While a downtown condo will be snapped up quickly, suburban and rural properties may take longer to sell. Even nicer homes in planned subdivisions take longer to sell if they’re in sparsely populated areas. If your home is off the beaten path, you should begin the listing process earlier, or plan for a longer listing period, to give yourself and your potential buyers a bit more time.

3- Competitive Market. Some markets are much more competitive than others, meaning you may need to jump the gun a bit to beat out other early listers. In highly competitive markets, it’s also generally easier to sell in the off-season since eager buyers are more plentiful year-round.

4- Economy.  The Economy play is a major factor in selling real estate. When the economy is stable, the real estate market flourish and houses sell fast.  When the economy is under fire, people are nervous about their jobs. and are generally reluctant to spend, accumulate debt or make major purchases.

The Bottom Line While there is no “magic day” to sell your home, putting your home on the market in late spring or early summer increases your chances of a quick sale and a higher profit margin. Decide on your target “sell by” date and work backward from there to ensure you hit your mark!

Monday, June 18, 2018

What is Debt Consolidation?

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Feeling overwhelmed by multiple bills? Looking for a solution to growing credit card debt? Reduce your debt, restore your credit and feel relief with a debt consolidation loan. 

A debt consolidation loan is where a bank, credit union, or finance company provides you with the money to pay off your outstanding debts and "consolidate" them (bring them all together) into one big loan. This usually applies to your unsecured debt, which may include your credit card bills, lines of credit, unsecured loans – or any other debt that doesn’t require collateral, such as a home or car. 

Advantages of a Debt Consolidation Loan

  1. You only have one monthly payment to worry about
  2. You often consolidate at a lower interest rate which saves you money
  3. Your debt will be paid off in a set amount of time (typically 2 - 5 years)
  4. Simple, monthly fund transfers by telephone banking, debit card, or money order
  5. Timely, automatic payments to creditors, with full tracking
  6. Any fees charged for this service are usually very low

 

Debt Consolidation Loan Interest RatesBanks and credit unions usually offer the best interest rates for debt consolidation loans. Many factors can help you get a better interest rate with a bank or credit union including your credit score, your net worth, whether you have a relationship with them and can offer good security (collateral) for a loan or not. Good security for a debt consolidation loan will often be a newer model vehicle, boat, term deposit (non-RRSP) or another asset that can easily be sold or liquidated by the bank if you don't pay make your loan payments.

For the past decade, banks have typically charged interest rates on debt consolidation loans of around 7% - 12%. Finance companies tend to charge anywhere from 14% for secured loans to over 3% for unsecured loans.

Disadvantages of a Debt Consolidation Loan

  1. They usually require security (collateral)
  2. You must have a decent credit score
  3. Interest rates are higher than a home equity loan (refinancing your home)
  4. Interest rates for unsecured debt consolidation loans can be high

While banks rarely approve unsecured debt consolidation loans, some do get approved from time to time. To qualify for one of these you would typically need to have a high net worth (the value of your assets after you subtract all of your debts) and a very strong credit score or a co-signer who has a very high net worth and a very strong credit score.

What are your chances of getting a Debt Consolidation Loan?If your credit score meets the bank's minimum requirement (meaning: not too many late payments or any big negatives on your credit report), you earn enough income, your total monthly minimum debt payments aren't too high and you can offer some good security for a loan, then you may qualify for a debt consolidation loan. If you don't quite meet all of these requirements on your own, you may still be able to qualify if you can find a good co-signer.

If your minimum monthly debt payments are too high - even after a consolidation loan is factored into the situation, you have bad credit, or you can't offer some reasonable security for a loan, then a consolidation loan probably won't work. 

Kitchen Backsplash Alternatives


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Having a fabulous kitchen can drastically improve the look and feel of your entire home. Whether you envision a sleek, modern space featuring gleaming white accents and stainless steel overtones or the rich reds and burgundies of a cozy home in the country, your dream kitchen should suit your personality and lifestyle. Dream big with creative cabinetry, sparkling granite, quartz countertops, and kitchen backsplash ideas that are sure to draw the eye of all your guests.

Although countertops get much of the attention when it comes to kitchen design due to their prominent placement in the room, the backsplash should not be overlooked. Backsplashes can make a dramatic difference in kitchens. But they don't have to cost a fortune to install. With paneling, tile, wallpaper, and more, it is easy to find a backsplash to compliment your kitchen design without breaking the bank account.

Pretty Patterns Subway Tile
Thanks to classic subway tile, which can cost as little as $2 per square foot, your kitchen backsplash can be both functional and fashionable. Align the affordable tiles horizontally to keep with tradition, or create a pretty herringbone pattern for a fresh aesthetic.

Marble Kitchen Backsplash Tile
A modern marble mosaic backsplash tile can create the modern kitchen of your dreams. Paired beautifully with any number of modern designs, the elegant and polished finish of marble mosaic tile will become a sophisticated centerpiece in your kitchen as a backsplash or an accent wall.

Black Slate Backsplash Tile
When it comes to taking care of the walls in your kitchen, one of the best things you can do is outline them with a visually-appealing backsplash, such as a black slate backsplash tile.

Combining these tiles with modern style white cabinets is an excellent way to add a contemporary look to your kitchen, and most importantly, the backsplash will prove to be advantageous for many more reasons.

Modern White Glass and Metal Backsplash Tile
Looking to create a polished and refined modern kitchen space in your home? Keep your color scheme classic with modern glass metal backsplash tiles, perfect for a stunning kitchen backsplash. The clean lines and simple structure of the pattern are ideal for radiating the sleek ambiance desired in a modern design. The movement of the pattern within the tile captures your attention and becomes a one-of-a-kind kitchen backsplash that will be both sophisticated and fun. Not to mention, this tile is naturally easy to maintain and resistant to staining, perfect elements for a white backsplash.

Modern Brown Glass and Metal Backsplash Tile
Bring an air of easy modernity to your home with the modern brown glass and metal backsplash tile. Simple rectangles come together in a variety of shapes and sizes for a clean but visually-interesting aesthetic. The glossy brown glass with warm chocolate colours rests aside the gleaming copper and silver metals for a shining but relatively neutral colour scheme. Allow this modern brown glass and metal backsplash tile to shine in your modern space.

Wood Backsplash Tile
A natural wood backsplash adds warmth and character to a kitchen. Be sure to properly seal it to prevent water staining.

Beaded Board
A painted beaded board backsplash has a vintage and casual look when paired with painted cabinets. Use a gloss or semi-gloss paint for cleaning and to seal the wood from moisture.

Unusual Alternatives
Be creative with your backsplash and use unexpected materials like aged mirrors for a unique look. Just make sure that your material is water-resistant and easy to clean.

Wednesday, June 6, 2018

Real Estate Market Update for Kitchener-Waterloo - June 2018


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"Although unit sales were down substantially compared to last year’s manic market, May was still a strong month of home buying and selling in Kitchener-Waterloo and area," says Tony Schmidt, KWAR President. He highlights that the ten-year average number of home sales in Kitchener-Waterloo and area for the month of May is 625.

Residential sales in May included 414 detached (down 15.7 per cent compared to May 2017), and 169 condominium units (down 7.1 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 46 semi-detached homes (down 28.1 per cent) and 53 freehold townhouses (down 24.3 per cent).

The average sale price of all residential properties sold in May decreased 2.4 per cent to $482,873 compared to the same month a year ago. Detached homes sold for an average price of $572,206 a decrease of 3.4 per cent compared to May of last year. During this same period, the average sale price for an apartment style condominium was $301,052, an increase of 2.7 per cent. Townhomes and semis sold for an average of $365,715 (up 1.3 per cent) and $393,616 (up 2 per cent) respectively.

The median price of all residential properties sold last month was down 0.9 per cent compared to May of last year at $445,000, and the median price of a detached home during the same period decreased 2.8 per cent to $520,000.

REALTORS® listed 1,068 residential properties in K-W and area last month, down 15.8 per cent compared to May of 2017, but up 14.4 per cent compared to the historical (2007-2016) average. The number of active residential listings on the KWAR’s MLS® System to the end of May totalled 1,062, which is 27.9 per cent higher than May of last year but still significantly below the historical (2007-2016) ten-year average of 1,719 listings for May.

"With interest rates expected to increase in July, we’re seeing strong demand for homes in Waterloo region," says Schmidt. "Sales are strongest in the four to five hundred thousand price range, and while we’re certainly seeing activity cool from the past two years, once you eliminate those you quickly realize that sales volume and prices remain ahead of the ten-year averages."

The average days it took to sell a home in May was 20 days, compared to 11 days in May 2017.