Top Energy-Saving Tips for Your Home

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While we all use energy differently, in general, energy is mostly used for heating and cooling the home, with hot water coming in second.

Good energy habits help you save money and the way we use energy plays a big role in how much we’re paying for it. For example, if you leave the hot water running constantly while you’re shaving, you’re using a lot of hot water just to rinse the razor a few times.

Simple choices we make every day can go a long way to help us manage our energy use, cut costs, and protect the environment around the year. Here are a few tips to help you conserve energy in your home.

1- Choose off-peak hours
Take advantage of lower energy prices during off-peak hours. Consider running your dishwasher, clothes washer, and dryer early in the morning, in the evening, or on weekends when electricity rates are lowest.

2- Use the dishwasher and washer wisely
Try to cut down on power by air drying instead of using the heater. Try washing your clothes in cold water to save hot water costs.

3- Use a programmable thermostat to reduce energy use
Install a programmable thermostat to automate your heating and cooling. It makes it easier to reduce your energy use when you’re not home and when you’re sleeping.

4- Use your appliances properly
Did you know that an uncrowded fridge works more efficiently than a crowded one? However, a freezer works best when they are two-thirds full. When you’re using the dishwasher wait to do a full load. A half-empty dishwasher uses the same amount of energy as a full one.

5- Consider caulking and weather stripping
Plugging up air leaks is relatively inexpensive and delivers a great return in summer and winter. Look for cracks around windows and doorframes. Also check the sill plate, where your home’s foundation meets the frame. It could be a big source of air leaks.

6- Find your top 10 locations for compact fluorescent lamp (CFL) bulbs
It pays to replace your most frequently used incandescent bulbs with CFLs. They use 75% less power and last up to 10 times longer.

7- Buy ENERGY STAR® Appliances
Save energy and fight climate change with ENERGY STAR qualified products. They use less energy, save money, and help protect the environment. According to ENERGY STAR, if just one in 10 homes used ENERGY STAR-qualified appliances, the impact could be compared to planting 1.7 million new acres of trees. Switching to these appliances is not only good for the environment but is easy on your pocketbook. Although these appliances may cost more, you can reduce your energy bill by approximately $80 per year.

The age, condition, and efficiency of your appliances play a big role in how much energy you use, so it’s important to keep them in good working order, and at some point, consider upgrading to the most energy-efficient models.

Budget Friendly Home Improvements

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Renovating your home will increase its value and make it a nicer place for you to live. But many people don't have the money to spend on expensive housing upgrades. Here are a few budget-friendly projects to add beauty, value, and selling appeal to your home.

1.Give your kitchen a facelift 
The kitchen is the heart of any home, so spend a few hundred dollars to spice it up. You can replace the kitchen faucet set, add new cabinet door handles, and update old lighting fixtures. If you have a dark or small kitchen, make it look larger and brighter by using a lighter finish on the cabinets.

If the kitchen countertop is outdated, consider using a Laminate countertop. They are inexpensive and come in all types of colours and patterns, some of which resemble much more expensive solid surface materials, such as stone or tile.

2. Liven up the bathroom
Buy "expensive-looking" hardware for taps and showers and get a sophisticated new look without cleaning out your wallet. Like in the kitchen, soft lighting and warm colours here can go a long way in increasing home value. Add vases and plants as design elements and make sure vanity mirrors are at an accessible height for every member of the family.

If your bathroom requires any plumbing or electrical fixing, get a professional to do it.

3. Add a fresh coat of paint 
New paint makes everything look clean and bright, and you can do it yourself relatively inexpensively on interior walls.

Paint with a neutral colour such as beige. It will make the house seem larger, and it will be inoffensive to buyers. And don't forget the ceiling. Paint the trim a contrasting colour.

4. Add wood trim and cornicing
These are cheap and easy do it yourself, but can add tons of "WOW" factor to the look of your home. Simple ceiling trim and armchair railing are the easiest and most typical upgrades found in newer homes.

To make an even bolder statement, paint the walls a neutral, flat colour and paint the trim a high gloss white.

5. Consider your flooring options
If your home has hardwood floors covered with carpeting, consider restoring the original hardwood floors, particularly if the carpeting is old and worn.

If not, you can shampoo or steam clean your carpets, or use a dry cleaning system, which requires no water or steamer, and dries instantly while killing virtually all mold and bacteria. Apply according to the manufacturer’s instructions, and then vacuum. If all else fails, get a professional to do the carpets for you. You'd be surprised how much better your carpet will look after a good cleaning.

6. Enhance the lighting
Consider replacing the dining room lights with an eye-catching chandelier. Create a comfortable ambiance with recessed lighting that is controlled with dimmer switches to provide the appropriate amount of light for different activities.

Use indirect lighting focused away from television and computer screens to reduce eyestrain.

7. Install modern light switches and outlets
Some of the new style switches can be easily installed using the wires already running to the old switches. Turn off the power to the room or entire house before doing any work. The new outlets look nice and give the impression that the electrical wiring in the house is newer than it really is.

8. Create more storage
Extra storage is always a plus. You don't need to renovate to add more storage space, you can create more space for free and without remodeling your home! Revamping your existing closets can do the job.

Many old houses lack closet space. If you have cramped storage areas, add do-it-yourself wire and laminate closet systems to bedrooms.

Make your closets serve a variety of purposes. Try adding a shelving unit to a clothes closet where you can store pantry goods and other items.

9. Reframe your front entry
The front door is the statement that you make in your house, and a front door in need of work gives a wrong first impression.

Refinish the front door with a new coat of paint. Replace that worn, flimsy little knob on your main entry door with a more substantial-looking handle-and-lock set. A nice, big piece of hardware signals newcomers that this is a solid home.

While you are preparing the door for the finish coat, be sure to check the weather stripping for damage. With soaring energy costs, adding some new weather stripping can quickly pay you back in utility savings.
Placing planters on either side of the front door will also enhance the image of your entry.

10. Landscape the front yard
A nicely mowed lawn, a few well-placed shrubs, and a swept walkway make a great first impression. Get your green thumb on, install some new sod, plant a few evergreen shrubs, and give your front yard a good cleanup. This will draw attention to your home and change people's perception of your home.

Today, there are dozens of choices of plant materials that can add colour and style to your front yard. Stop by your local landscaping center — they'll have dozens of ideas for you.
Ready to renovate but on a tight budget? Spend money on what can be seen versus what can't be seen. Think new door handles, not new doors, and spiffed-up appliance fronts, not new appliances. Fix up the exterior first, then the interior.

If you put some of these tips in action, you will boost your home's value and live happily ever after in your dream home. Enjoy!

Design Trends as a Result of the Pandemic

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The pandemic has influenced many areas of our lives these past few months. It’s not surprising that it’s also affecting the design of our homes. We are adapting our personal spaces to reduce our exposure to the coronavirus.  

Let us look at some of the biggest home design trends influenced by the pandemic.

The growth of home offices
Home offices, once considered a luxury, are now becoming more popular. Requests for purpose-built offices with systems capable of handling remote work and a professional backdrop for video meetings have grown. If you don’t have the space for a dedicated office, consider turning small closets into an extra office nook or sectioning off corners of a room to add a workspace that blends in with the rest of the space.

No-touch tech
Smart homes are growing in popularity, especially no-touch technology. Controlling lights and appliances via voice-activation helps avoid touching surfaces, especially in the kitchen and bathroom. Sensor-controlled lights and taps, more commonly seen in public spaces before the pandemic, are now popular in homes. Smart systems with indoor air quality management are also increasingly popular.

Indoor air quality
The coronavirus and other germs can easily spread through the air. Spending more time at home in smaller spaces and with others has created more demand for air purifiers, ranging from stand-alone models to sophisticated smart systems. Open windows are an easy option in warmer months, but other air freshening methods are needed when the temperature drops outside. There’s a wide variety of air purifiers that may help. Many have specific designs to reduce airborne irritants like allergens, dust, and pet dander. 

Declining appeal of open floor plans
The open floor plan combines the kitchen and living space to form one big open room. Is not the best for privacy or concentration. As many people transitioned to remote work, a lack of barriers to buffer noise became a real problem. We may start to see more pocket doors used to close off open spaces, kitchens slightly angled off from the living room, and private nooks.

Bidet attachments
The bidet toilet attachment has made inroads in the North American market due to the pandemic. When toilet paper was scarce, these attachments gained popularity as a sanitary alternative. Using comparably less water than it takes to produce toilet paper, the bidet is also seen as environmentally friendly. Toilets with built-in bidets may be more affordable sooner than we think.

More storage especially in the kitchen.
During the pandemic, people rushed to stock up on food, toilet paper, and hand sanitizer. So, the need for storage became greater. Homeowners added extra shelving to pantries or overflow storage in laundry rooms and garages. We see more demand for kitchen island rolling carts that can double as extra storage and counter space.

Outdoor space is now more important
Homeowners are looking for ways to extend their indoor space to the outdoors. The front porch, for example, has become important as a place where you can be outside and connect with neighbours from afar. 

Connecting to the outdoors is important for our mental health. This is especially true for those living in apartments and townhouses. Demand for balconies, renovations opening rooms to the outside, and enlarging windows is increasing. Balconies and smaller spaces provide an important sense of calm when you add comfy chairs, plants, and water features. When temperatures drop, get a front seat to the outside and create a reading seat by framing a window with bookshelves on either side and adding a cushioned storage unit or bench in between. 

Record home sales and prices for 2020

 

KITCHENER-WATERLOOJan 7, 2021) ––

There were 6,492 residential homes sold through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® in 2020, an increase of 9 per cent compared to 2019. Compared to previous years, 2020’s annual sales were 5 per cent above the previous 5-year average, and 11.6 per cent above the previous 10-year average.

 

On a monthly basis, there were 42 per cent more home sales compared to last year, with 351 home sales in the month of December.

 

“December’s home sales were the highest on record for the month,” says Nicole Pohl, President of KWAR.  “This marks the sixth consecutive month of record home sales in Kitchener-Waterloo and helps propel 2020’s annual number of transactions over the 6,000-unit threshold for only the third time in our history.”

 

Total residential sales in December included 204 detached (up 46.7 per cent), and 63 condominium units (up 34 per cent) which includes any property regardless of style (i.e., semis, townhomes, apartment, detached etc.). Sales also included 20 semi-detached homes (down 9.1 per cent) and 64 freehold townhouses (up 68.4 per cent).

 

For 2020, total residential sales included 3,899 detached (up 8.1 per cent), and 804 condominium units (up 18.9 per cent) which includes any property regardless of style (i.e., semis, townhomes, apartment, detached etc.). Sales also included 450 semi-detached homes (up 6.8 per cent) and 1,346 freehold townhouses (up 7 per cent).

 

In December, the average sale price of all residential properties sold in 2020 increased by 14.4 per cent to $634,545 compared to 2019. Detached homes sold for an average price of $755,618 an increase of 11.9 per cent compared to 2019. During this same period, the average sale price for an apartment-style condominium was $383,196 for an increase of 5.4 per cent. Townhomes and semis sold for an average of $514,760 (up 27.7 per cent) and $574,659 (up 20.2 per cent) respectively.

 

On a year-to-date basis, the average sale price of all residential properties sold in 2020 increased by 16.1 per cent to $612,521 compared to 2019. Detached homes sold for an average price of $719,203 an increase of 16.9 per cent compared to 2019. During this same period, the average sale price for an apartment-style condominium was $391,698 for an increase of 13.7 per cent. Townhomes and semis sold for an average of $468,891 (up 14.6 per cent) and $520,753 (up 18.3 per cent) respectively.

 

The median price of all residential properties sold last year increased 17.3 per cent to $575,000 and the median price of a detached home during the same period increased 15.7 per cent to $660,000.

 

“Even well before the pandemic we had noted a trend of consumers migrating out of the GTA to our region,” says Pohl. “As the pandemic heated up it only fueled this fire more as the very concept of what home means was shifting. With more people working from home, some permanently, space has become a greater concern than ever before. When you combine this with all the other great attributes of our region, it is no surprise this occurred.”

 

Like many other parts of Ontario, low inventory has become a defining factor of Waterloo Region’s housing market and the new normal. The number of months of inventory remained at just 1 month or less throughout most of 2020.

 

For historical context, the number of months inventory in Kitchener-Waterloo between 2011 and 2015 averaged 4. Between 2016 and 2020 it was a monthly average of 1.5 months. The number of months of inventory represents how long it would take to sell off current inventories at the current rate of sales.

 

The average number of days to sell in 2020 was 16 days, compared to 23 days in 2019 and a previous 5-year average of 27 days.

 

Dollar volume of all residential real estate sold last year increased 26.5 per cent to $3.9 billion compared with 2019.

 

While the majority of residential MLS® System activity is properties for sale, REALTORS® are increasingly representing landlords and tenants. Last year 848 residential leases occurred through KWAR’s MLS® System, which is an increase of 13.9 per cent compared to last year.

 

“Looking to the year ahead, we should expect more of the same” predicts Pohl. “Real estate continues to be one of the shining lights supporting the Ontario economy, so we do not expect to see any significant efforts to try to cool the market. Buyers should continue to expect stiff competition in Waterloo Region, and for sellers, there will continue to be a strong interest for all properties entering the market. Active markets are difficult markets, but the only way for a seller to ensure they are getting the full market value of their home is through the level playing field of the KWAR MLS® System. For buyers, they should ensure they are working with a local REALTOR® to assist with the speed and challenges of this market”

Good Debt vs. Bad Debt

A recent report from Statistics Canada shows that Canadian families now owe nearly $1.65, on average, for every dollar of after-tax income they earn. This is leaving many households vulnerable to economic shocks such as job losses, interest rate hikes or a sudden slide in house prices.

There is no such thing as good debt or bad debt. Debt is a debt, which means you owe somebody or some company money. Too much debt is never a good thing, be it good debt or bad debt. However, avoiding debt at any cost is not smart either if it means depleting your cash reserves for emergencies.

The challenge is learning how to judge which debt makes sense and which does not and then wisely managing the money you do borrow. The standard definition for good debt is debt that helps you to make more money, while bad debt is one that makes you poorer.

For example, when you use debt to finance consumable items, you aren’t accumulating good debt. Credit card debt is often considered bad debt because of the nature of items that credit cards are used to purchase. You should never accumulate debt to purchase everyday items like clothes or food. If you use a credit card for these types of purchases, you should pay the balance in full each month.

On the other hand, a home purchase can be considered good debt. Since homes usually appreciate in value, the mortgage loan you take out to pay for the home is an investment. Another example of good debt is a student loan taken out to finance a college education. Earning a college degree usually means that you’ll make more money over your lifetime.

There are some books which term car loans as one of the bad debts. The financing costs of a car are indeed high, coupled with depreciation of the car and maintenance makes car ownership a very expensive affair. However, if the car is the tool that helps you to make money, it’s a form of transportation to get you to various workplaces. Perhaps the fact that you own a nice car helps to build confidence in your clients so you can close more sales. Would it still be bad debt? Or is it now good debt?

Many times a good debt can turn into bad debt overnight. For example, a mortgage loan used to purchase a property which later crashed in value by 30%. The good debt was raised for an investment, but it turned into bad debt because now the house is worth less than the value of the housing loan you owe to the bank.

It’s usually a good idea to focus on paying off your bad debts first. Since they provide no value, they are more costly than your good debts. You should pay off credit cards and auto loans before tackling mortgages or student loans.

Some people consider using good debt to pay off bad debt, like getting a mortgage for $110,000 instead of $100,000 and using the extra to pay off credit card balances. This isn’t a good idea for several reasons. First, repaying debt with debt is never a good idea. Second, it ends up taking longer to pay off the mortgage than it would have otherwise. Third, the higher mortgage increases your monthly payments and the time it takes to build equity in your home. Use cash to repay debts, not more debt.

The key thing before incurring debt is to fully understand what the money from the debt is used to pay for and the impact it has on you financially in the long run. If the debt is used to purchase an asset, make sure that the utility or financial return from the asset is higher than the cost of debt. It is also important to ensure that you are not overleveraged where your borrowings exceed your assets or where you have trouble servicing the loans. Any debt which is taken after you are overleveraged is not advisable, regardless of its purpose.

The Hidden Costs of Home Ownership

Anyone who owns a home knows that there are many additional costs associated with owning a home. Many first-time homeowners base their decision to buy a home on their ability to make the monthly mortgage payments. In fact, there are many other costs that go into owning a home than just the mortgage payment.

First-time homeowners are often startled by the hidden costs of owning a home. The traditional housing expenses (principal payments, interest, taxes, and insurance) are just the beginning. Maintenance, repairs, supplemental insurance, home improvements and decorating can cost you thousands of dollars a year—more than you expect.

Additionally, a home purchase triggers a series of additional spending on appliances, furnishings, and remodeling activities that exceed typical spending levels of non-moving owners or renters and can persist for two years after moving.

Let's take a look at the most overlooked items that tend to be a burden to all homeowners:

Move-in Costs

1. Home improvement costs
Your new home may require some repairs or remodeling. One of the great things about being a homeowner is the opportunity to put your personal stamp on a house. It’s easy to go overboard with home improvements, though. Relatively few projects add much lasting value to your home, let alone guarantee that you will recoup your costs.

Homeowners are more inclined to purchase luxury items that renters would not, such as granite countertops, pricey fixtures, alarm systems, and other gadgetry. The cost of these luxury amenities can easily add thousands of dollars to the cost of owning a home.

2. Furnishing costs
You will also want to budget money for additional furnishings. Since your new home is likely to be larger than your apartment, you will probably need more furniture. You might also want window treatments, lighting fixtures, carpet or area rugs, and appliances, all of which can add up to tens of thousands of dollars.

Ongoing Costs

1. Monthly mortgage payment
Probably this is the easiest to understand. If you have selected a fixed-rate mortgage, your lender will tell you exactly how much your monthly payment is going to be.

2. Property taxes
Property taxes can be demanding because even if you've paid off the mortgage, you still have to pay a monthly fee to the town and/or the municipality in which you reside. It can easily total $500 to $1,000 or more a month, particularly in large cities where property values have soared in recent years.

3. Utility bills 
Monthly utility bills such as electricity, gas, and others could amount to $400 or more a month. Some current home renters may not be aware of this as it is most likely it is included with their monthly rent. If you are moving to a condominium, you should also add monthly condominium fees.

4. Maintenance costs
How much your home will cost you in maintenance and repairs depends on several factors: the age of the home, how well it’s been treated by previous owners, the harshness of your climate, and how much money you want to get out of your home when you sell it.

You should budget between 1% to 2% of your home’s value for annual maintenance. If you bought a $200,000 home, for example, you should set aside at least $2,000 a year, or around $200 a month. Some years you'll spend less, but in others, you could spend more. A new roof for your home, for example, can cost $4,000 or more.

Naturally, some homes cost more to maintain than others. Older homes usually need more maintenance than newer homes, even if it has been recently renovated. Also, don't assume that because a home is new, it won't need any maintenance for a while. All homes need to be attended to on a regular basis to keep them from falling into a state of disrepair.

The Bottom Line
Being a homeowner brings with it a great sense of pride and gives you enormous stability and security knowing that you will always have a roof over your head, however, it can cost a lot more than you think. So to avoid any unpleasant surprises, make sure you are aware of these extra costs.

Tips for Hiring a Remodeling Contractor

A remodeling project can be daunting and confusing but it's not a difficult task. You can easily search the web or look in the yellow pages and find many home remodeling contractors listed in your area. But the question is:  which one do you hire for your home remodeling project? Which one will perform quality work, charge a fair price, and get the job done on time? 

By following these tips you will make the selection process easier and be better prepared to make an informed decision that best suits your needs.

1. To reduce the risk of hiring the wrong home contractor you should first do a little preparation yourself for the home remodeling project. Sketch out and write down what you want to get done. Provide a copy of this information to the prospective home remodeling contractor as this will help to minimize misunderstandings of requirements.

2. Visit home improvement centers such as The Home Depot, and look at materials expected to be used on your project. Make note of their costs for you to compare material costs proposed by prospective contractors.

3. When you start to call prospective contracts ask for references and previous work that you can visit.

4. Employ a contractor with an established business in your area. Local firms can be checked through references from past customers in your community. Local contractors are compelled to perform satisfactory work for their business to survive.

5. Contact your local licensing agencies to ensure the contractor meets all requirements.

6. Check the contractor with the government's Consumer Affair Office and the Better Business Bureau to ensure there is no adverse file on record.

7. Ask to see a copy of the contractor's certificate of insurance for you to also ensure the contractor meets all specifications.

8. Make sure the contractor's insurance coverage meets all the minimum requirements. 

9. Be sure that the contract between you and the contractor states exactly what is to be done and how change orders will be handled.

10. Make as small a down payment as possible so you won’t lose a large sum of money if the contractor fails to complete the job.

11. Be sure that the contract states when the work will be finished and what action you can take if it isn’t. Also, remember that in many instances you can cancel a contract within three business days of signing it.

12. Ask if the contractor’s workers will do the entire job or whether subcontractors will do parts.

13. Be sure that the contract specifies that the contractor will clean up after the job and be responsible for any damage.

14. Guarantee that the materials used meet your specifications.

15. Don’t make the final payment until you’re satisfied with the finished job.

Whether you’re planning an addition to your home for a growing family or simply getting new storm windows, finding a reliable contractor is the first step to a successful and satisfying home improvement project. However, to find a good contractor, someone you can trust to do a good job for a fair price and stand behind his or her work could be hard. But if you do your homework and follow these tips, you will improve the odds of getting a contractor you will be happy with.