Home Ownership - The Hidden Costs

Leaky roofs, bursting pipes and infestations – all on your own dime. Though home ownership has many perks, there are some extra expenses to watch out for.

Maintaining and repairing a home can be a daunting task, especially if you’re learning these skills for the first time as a home owner. Repair costs can make any first-time homeowner long for the “good ol’” renting days. Each of the major systems in your home, like the plumbing, electrical and roofing, serves a very important purpose and must be kept in good working order to protect your investment and keep life running smoothly.

The Roof
Water is your home’s biggest enemy, and one of the roof’s primary jobs is to keep water out. Asphalt shingles (the most common roofing material in the U.S.) can become loose, cracked, be blown off by the wind or be damaged by hail. The nails that fasten them to the roof could also raise, allowing water to get underneath and in to your home, if any part of the shingles or roof had been poorly installed in the first place.
A leaky roof can cause cosmetic damage to the inside of a home and, depending on how severe the leak is, damage the belongings inside, cause health problems and structural issues.
Asphalt shingles also have varying expected maximum life spans, depending on the quality of the shingle. Under normal circumstances, the roof will need replacement at least every 20 years. However, roofs have varying life spans, depending on the type of shingle used, installation quality, climate and weather.

The Heating, Ventilation and Air Conditioning (HVAC) System
Because of its complexity, your home’s HVAC system is not something you’ll be able to inspect, repair or replace yourself. Unless you’re an HVAC professional, you should be prepared to hire one from time to time.
You’ll probably need to buy new units at some point, as the existing ones wear out over time.
Replacing the furnace and air conditioner filters frequently helps keeps the machines running efficiently. Homeowners with gas furnaces should have them inspected once a year. In many areas, this service is provided at no charge.

The Electrical System
Arc faults and electrical shorts cause a fair number of electrical fires that burn down homes. All homeowners should have a basic understanding of how electrical systems work, in order to keep homes and families safe. Besides having a trusted electrician in your reach, understand the limitations of your own skills – why risk electrocution or faulty wiring in order to save a few bucks?

Plumbing
Small plumbing problems (like clogged drains) happen from time to time, no matter where you live, and they aren’t a big deal to fix, with basic plumbing knowledge.
Some older homes present larger problems when it comes to plumbing. These homes often contain galvanized iron water pipes, which become clogged with mineral deposits over time, gradually reducing the water pressure in your home. These pipes cannot be repaired – they have to be replaced. For new homeowners, the annoyances of noisy plumbing, frozen pipes and burst pipes can create more issues than they’re worth.

Termites
In the woods, termites help turn fallen trees into topsoil, but you don’t want your home turning to dust. Termites are attracted to wood and moisture, and they can get into your house through even the tiniest of cracks.
To prevent expensive structural damage to your home, make sure there is no wood touching the ground near your house (like lumber, firewood or tree stumps). Prevent any moisture from accumulating around your foundation by making sure the ground slopes away from your house, and hire an exterminator to regularly perform a pest inspection.

Natural Disasters
When you become a homeowner, damage from natural disasters becomes your problem. Homeowners insurance typically does not cover “acts of God,” meaning that you will need to purchase extra coverage against disasters like floods and tornadoes. Unfortunately, this insurance can be expensive or have an unusually high deductible.

Mold
Mold can grow in wet or damp areas, and can cause health problems. If your HVAC system is contaminated, you can spread mold throughout your home every time the furnace is running.
Preventing mold problems is a matter of keeping water out and fixing any leaks, to eliminate any environments conducive to mold growth. If your home is very humid, an air conditioner or dehumidifier will help prevent mold growth. Mold is not always visible; it can be hidden behind wallpaper, under carpeting and in a variety of other places. Mold can cause allergic or irritating reactions and asthma attacks.

Conclusion
When most people think about home ownership, they think only about the monthly payments, or PITI: principal, interest, taxes and insurance. But maintenance and repair costs will eat up their fair share of your (not-so) disposable income, too. Mortgage lenders won’t factor this into their equations when determining a loan amount, but you should. Before you buy, make sure you’re prepared for the true cost of your castle.

www.SaskRealEstatePro.com

Condo or House - Which Is Right For You?

 
For a large majority of first time home buyers, the burning question is what do I choose condo or house? There are some major differences and some subtle difference between the two of these which should be taken into consideration when looking to make a purchase. Financial situation, work situation and family situation are all major factors in choosing a new home and all factors that could make the choice even more difficult.

The type of budget a person has and the type of lifestyle they are looking for are large determining factors when deciding between the two. An apartment type accommodation will usually be found in the city which will be local to all amenities such as city buses and shopping centers. A house will typical be on the outskirts of the city which could mean longer daily commutes which are getting longer and longer every year.

As well as the obvious benefit of a condo being ideally located for convenience, the cost of living here is usually cheaper. Which is one of the main considerations in a condo versus a house. It can work out to be slightly more expensive to purchase an apartment in the towns and cities, but the maintenance fees will also work out cheaper too. Many of the repairs and issues that crop up will be handled by an external contractor whose fees will be covered by a monthly maintenance that you will pay.

If you are a very social person then apartment type homes is very suitable for you. Not only are they generally situated close to the bars and restaurants, but because you are living in such close proximity with lots of other potentially like minded people it will be easy to get social with the neighbours. For those working long hours in the city then this type of accommodation will be ideal for saving on traveling time.

Houses offer a more quite, family orientated environment. This is typically the next move up from an apartment. Houses offer a lot more privacy and more space so it is well suited to couples who are looking to raise a family. Here you will most likely have a lot more responsibility and financial issues to consider.

Unlike an apartment complex, you will have responsibility for all the maintenance that needs to be carried out. You do however get the freedom to make structural and decorative freedom which does not come easy when living in an apartment. Things like having a garden and a driveway for your car are also huge advantages.

Another thing to consider is the price difference between the two. Typically, you can get more for your money when buying a home on the outskirts of the city. You will find that the extra paid for some apartments in the city is simply because of the convenience of such a property.

Longer traveling times is usually an issue when weighing up the condo versus house dilemma, but many people find that living on the outskirts of town with the added space and arguably, better scenery is worth the extra traveling time. For some the convenience of a city apartment is just ideal for their busy lifestyle.

Adam Humenuik
www.SaskRealEstatePro.com

Prepare Your Home For Winter

Winter's coming, and with it, plunging temperatures and shorter days that make you want to curl up and relax, warm and cozy by the fire. As the coldness looms and you prepare to pump the heat, it's important to protect your home from potential damage and address heat and energy leaks. These seven simple tasks will help you stay warm, safe and energy-conscious this winter.

1. Prepare your hearth for fire
Before getting chestnuts ready for the roasting, get your fireplace set for the fire. Grab a flashlight and look inside for build-up, bird's nests or obvious cracks. From the outside, check for broken bricks and crumbling mortar. Ensure that your damper opens and closes and seals tightly. Clean out the ashes and remember that in addition  to these steps, you should have your chimney professionally cleaned every other year (more often if you burn a lot of fires). Stock up on wood and kindling, and you're ready for a comfy season by the fire. 

2. Seal the windows
Seal drafty windows to keep heat in and energy bills low with one (or both) of these two simple tasks. First, caulk the cracks. Sold in temporary or permanent form, caulking is inexpensive and easy to apply. Second, cover your windows in a thin plastic film (available at any hardware store) and tape it down with waterproof double-sided tape, heating the edges with a hair dryer and pressing the protective layer into place. When it gets warmer outside, simply peel the film off, open the window, and let the sun shine in.

3. Clear out the gutters
Clogged gutters block the drainage of rain and melting snow, resulting in household leaks and damage to landscape and foundation. As fall sheds its last leaves, grab a ladder, a garbage bag, some rubber gloves and dig in. Remove everything, from twigs to leaves to caked-on dirt. Check that the downpipes are clear of obstruction and then ensure the entire system is un-clogged and leak-free by running water through it.

 4. Prepare for winter storms
Don't let a blizzard take you by storm―always have a fully-stocked emergency kit at hand. Include batteries, a flashlight, candles, matches and a lighter; warm clothes and blankets; a battery-powered radio; non-perishable food items and water (two litres per adult per day); a first-aid kit and specialty products like medicine, baby formula and pet food (if necessary). Store at least three days' worth of supplies for everyone in your household.

5. Don’t forget about heating maintenance
Is your heating system ready to weather the winter? Have a professional check your heating system and ensure it's in good working order before you turn it on. Schedule checks for your furnace, venting system and chimney. Don't forget to replace the batteries on smoke and carbon monoxide detectors, in case any of your heating systems are overworking. 

6. Pad your pipes
A small frozen pipe can cause big household damage if it bursts, so pad your pipes to prevent floods. Grab some tubular pipe insulation sleeves from your local hardware store and set to task covering exposed pipes in unheated areas, such as a basement, attic, crawl space or cabinet. The pipe sleeves are easy to apply and can be cut to fit. Cover all exposed parts, including bends and joints. Finally, seal the seams with duct tape. With that simple task, you're not only preventing considerable water damage, but also conserving energy. 

7. Clean out your garage 
Like your traditional spring cleaning, consider scheduling a traditional 'fall cleaning' of your garage. Organize the remains of your summer projects and clean and store gardening tools. Like a seasonal turning of your closet, push what you won't be needing―the lawn-mower, hedge trimmer, rakes and summer toys―to the back and bring any winter necessities―shovels, snow blowers, skis and sleds―to the front. Set out salt and gravel containers, and you'll thank yourself the first time the ice hits.  

Make Your Home Energy Efficient For Winter

 
Saving energy is top-of-mind for Sask homeowners and renters alike. Energy costs continue to rise, as does awareness of environmental issues. As we head into the heavy-usage winter months, finding ways to conserve is a big priority. Here are our top 15 to-dos to make your home more energy efficient for winter.

1. First off, book an energy audit. An accredited energy advisor can perform an energy evaluation of your home, identifying energy-wasters and suggesting improvements and upgrades.

2. Pump up your insulation. It's an effective way to reduce heat loss so you don't have to work the thermostat so hard.

3. Weather-strip your exterior doors. It's inexpensive, easy, and keeps warm air in and chilly drafts out.

4. Load up on stylish cardigans and bunny hugs and chic throw blankets. Use them to stay snug when you lower your thermostat by 1°C. Each degree lower you set your thermostat, you'll save 3% on your heating bill. Turn it down another three degrees when you leave the house or go to bed.

5. Install an inexpensive (from $30!) programmable thermostat. That way, maintaining the correct temperature throughout the day and night is a no-brainer.

6. Switch to a high-efficiency heater. It's another opportunity to cut energy use.

7. Buy new furnace filters. Keep your furnace filters clean and regularly replace old ones so your furnace can run more efficiently, thus cutting costs. If your filters are disposable, replace them once a month. If they're washable or reusable, clean them every two or three weeks during high-use season and only replace them when they become damaged.
8. Caulk your windows. Cut drafts around minute window cracks. Use an interior formula caulking indoors and an exterior formula outdoors for best results.

9. Shrink-wrap the windows with a dedicated plastic film from the hardware store. It's fast, cheap and adds an insulating thermal layer that can reduce heat loss through the window by 25 to 50%!

10... Or replace them altogether. Older windows can be upgraded with EnergyStar-rated windows that will reduce heat loss in winter (and heat gain in summer). This is an expensive alternative but will pay off in the longer term through increased home value and decreased energy costs.

11. Turn on your ceiling fans. Reverse them from the summer setting, and you'll push warm air back down from ceiling level into your living area. Fans use less energy than the furnace.

12. Vacuum the coils at the back of your fridge. Consider this seasonal maintenance. The coils disperse heat taken from inside the fridge and when they're covered in a layer of dust, they disperse the heat less efficiently, meaning your fridge uses more energy to keep its cool. And that's not cool.

13. Switch to heavier drapes. Velvet drapes will cut drafts, and a change of window treatment always provides a nice transition between seasons anyway. Be sure to keep the drapes of south and west-facing windows pulled back on sunny days, so your home can absorb plenty of ambient heat.

14. Wrap your air ducts and hot-water pipes to reduce heat loss. Use pipe insulation wrap or polyethylene or neoprene pipe sleeves.

15. Close heat vents in guest rooms, attics, store rooms and other unused spaces. Why divert heat and up your energy consumption for rooms that aren't in use? Close the vents, then close the doors to these rooms. Just don't forget to open the ducts when guests stay over (unless you don't want them staying too long!)

Get a Higher Value for Your Home Appraisal

Recently a homeowner argued that appraisers are not swayed by a home's cleanliness. The argument was that an appraiser uses current and past comparables and examines the possibility of what the home is worth. While this is true, what this homeowner didn't understand is that an appraiser will take into consideration curb appeal and how well the home shows because these factors do impact a home's price. That means if you want a higher appraisal value you need to do a bit of work.

Here are nine tips that can help you get top current market value:

Clean up. Sure, that sounds simple, but we’re not just talking about making the bed or cleaning the cat litter. We’re also talking about giving your carpet or floors a good vacuum or scrub and making sure dust isn’t prevalent on tables, furnishings or baseboards. Also, get rid of projects. If you’ve got a car-in-progress in the backyard, consider removing it or, at least, building a contained shelter around it.

Pay attention to curb appeal. While a few dirty dishes in the sink won’t impact your home’s value, that  unruly  row hedge and your uncut lawn (or building snow mound) will. Take an hour and spruce up the outside of your home. Not only is it the appraiser’s first impression, but the appraiser will spend a bit more time staring at the outside of your house as he/she makes notes and takes measurements.

List your updates. After installing new copper plumbing and re-doing all the electrical components—at a combined cost of well over $10,000—it’s a shame not to highlight these upgrades. So, keep a list. State what work was done, by what company and when. If possible, give the appraiser this list. That way they have a reference as to what has been updated and how recent or professional that work was done.

Make your own list of notables. Love your home? Then brag about it. For instance, in the deep urban centre of Toronto, parking and a large outdoor space isn’t just nice, it’s a selling feature. So, make a list of features your home has and provide this list to your appraiser. Yes, they will compare your home to the homes in the area, but they’ll have a better idea of what your home offers, which could increase your appraisal value.

Provide your own comparables. I was stunned when one of the three appraisers we hired came in with a value $30,000 less than their competitors. When I asked about the difference, I was simply told that the comparables in the area forced the price down. Considering this particular section of Toronto has appreciated, on average, by 20% over the last three years I knew that this appraiser had been looking at the wrong comparables. For that reason, I think it’s prudent to actually develop your own list of comparables. Keep an eye for homes selling on your street or area and then print off the MLS listing—or better yet, get a sales sheet (if the homeowner signed a disclosure agreement). While the appraiser will look for their own comparables, it doesn’t hurt to provide them with a few of your own.

If you need to spend to update, be prudent. Many people think the mantra “bathrooms and kitchens” is the panacea for getting high prices on homes. It isn’t. First, consider the fact that kitchen and bathroom remodels can be some of the priciest reno costs. For that reason, it may be more prudent to spend a bit of money, for just a bit of updating. Paint, new carpets, new light or plumbing fixtures don’t break the bank, but can provide a dramatic impact.

Keep the $500 rule in mind. Appraisers will often appraise homes in $500 increments. They’ll also take this into account if a repair or upgrade is required . That means leaky faucets, cracked windows and missing handrails can have a significant financial impact on your home’s value—even if it doesn’t cost that much to fix.

Difference between when your home was built and effective age. The home we left was built in 1898 and when people hear this they often expect the worse. But we knew, from doing our homework, that our renovations and upgrades and effectively altered the “effective age” of our home. Now we had a century home with an effective age between three and seven years.

Lose the pets (temporarily). Finally, when the appraiser comes to your home, don’t have your dog out barking and snipping to lunge and smell the stranger. This can put off would-be appraisers, which can impact the value they provide (although, technically they say it shouldn’t).

One last tip: don’t bug the appraiser with questions and comments. Instead, simply be prepared to answer any of their questions and, if you do have concerns or queries, wait until they’ve completed their inspection, then ask.

By following these tips, you’ll get the highest appraised value for your home and will help with refinancing or minimizing future tax payments.

20 Things to Look for in a Home Inspection

 
Buyers can find problems that they discover after closing their home purchase. Most complain about sellers who fail to disclose defects or home inspectors who fail to find them. The system is far from perfect. However, there are steps that buyers can take before and during a home inspection to protect their interests.

- Check all electrical outlets to make sure that they work.

- Open windows, even in the winter, to make sure they are not stuck or painted shut.

- Look under any area rug or bed and behind any picture to check for cracked tiles, stained carpets or walls. Lift anything on the kitchen counters to look for defects.

- Do any of the appliances show any rust? How old are they? If they are discontinued models, you will likely have to replace them if they break down because of the difficulty of finding replacement parts.

- Start the dishwasher at the beginning of any home inspection. By the end, it should have gone through its entire cycle, without leaking.

- Put a thermometer inside the oven and turn it on to 350 degrees. After 10 minutes, check the temperature. Test stove burners.

- Put a cup of water in the microwave for 45 seconds. Does it heat up?

- Flush every toilet and see whether it stops running after it is filled.

- Check sinks, tubs and showers in the house. Is there proper water flow from each faucet and does everything drain properly?

- You may want to consider turning all the faucets on at the same time and then flushing a toilet upstairs to see whether the water pressure slows or stops in any sink. This could indicate a problem with the system.

- In older homes, consider a separate sewage inspection. Stan Collini, the President of Roto-Rooter Plumbing and Drain Service in the GTA, tells me that for $295, you can do a video camera of a property’s sewer system to see if there are any problems that would not be visible on a typical home inspection.

- Check under the water heater for leaks or stains on the floor.

- Ask how old the air conditioning unit is and when was it last serviced Is there sufficient hot or cold air reaching all of the rooms in the house?

- Does the owner have a plan with their gas company to inspect the furnace once a year? When was the last inspection conducted?

- If the house has an addition, ask whether any upgrade was done to the heating or cooling systems to account for the additional living area.

- Look for water stains in the ceiling which could indicate leaking from the roof or other problems with the plumbing system.

- When your inspector is on the roof, ask them to check for broken or cracked shingles. If it is a flat roof, look for the low spots where water can collect for any evidence of a problem. Check the eaves to see if there is any rot or decay. If any concerns are noted, consider bringing in a roofing contractor for an additional opinion, especially if the home is 15-20 years old and it is still the original roof.

- You may also want to consider a separate inspection for mould or termites, as these may not be visible on a home inspection but can result in significant costs to repair later. Check if this is a known problem in the area.

- Always ask the seller and the seller’s agent if they know about any hidden defects that are not visible. They must answer truthfully if you ask them.
By being properly prepared and asking the right questions both before and during any home inspection, you will be better protected against costly surprises after closing.

10 Rules For First-Time Home Buyers

Never bought a house before? Follow these 10 tips and everything will work out fine.

1. Buy Smart The First Time - You can take advantage of whatever kind of market you're buying into by carefully choosing your entry point. That might mean waiting until prices drop in the winter or holding on just a little longer until the right property comes along at the right price.

2. Tap Your Network - You might be new at this but your family, friends and co-workers probably aren't. Ask them for both advice and referrals of lawyers, home inspectors and other professionals - the more, the better. Real estate markets are notoriously local, so local information is vital. For additional advice/information contact Adam Humenuik (261-2470) your local REALTOR®.

3. Prepare, Prepare, Prepare - You will likely have to make the most important financial decision of your life very quickly in a matter of days, hours or even minutes if there are multiple offers. But you can take much of the risk out of this snap decision by working out ahead of time exactly what you need, the extras you'd like and what you can afford.

4. Have The Deposit Ready - When you find the home you want, you need to put down a deposit, usually within 24 hours. So don't have it in a bond fund or a promise from Mom and Dad. You need it in a cash account, and easily accessible.

5. Tally All The Costs - It's not just the mortgage you have to factor in. It's taxes, utilities, garbage removal and insurance. Plus count on spending 1% of the purchase price each year, averaged over time,  for maintenance, ranging from duct cleaning to a new roof. Then ask yourself, can you still take a hit when the furnace conks out?

6. Leave Money For Renos - Don't max out your financing just buying the property. Set aside money - or at least a plan for saving money - for the things you want to do to the place. Don't spend most of your life living in someone else's place, make it your own home.

7. Look Over The Fence - As the old adage goes, it's better to buy the worst house on a nice block than the best house on a run-down one. That's because you can improve your own home, but you have no control over your neighbours. Like it or not, they will have a big impact on your property's value.

8. Take Advantage Of Tax Breaks - Saskatchewan  imposes a property transfer tax on all properties (except for rural properties). However, they will waive this tax (or at least part of it) for first time home buyers. The Federal Government also introduced a First-Time Home Buyer's Tax Credit in 2009 that allows you to save up to $750 on your income taxes. Then there is the Home Buyer's Plan, which allows you to "borrow" money for a down payment from your RRSP tax-free. Make sure to explore all your options to make the most of these first-time-buyer savings.

9. Keep Your Emotions In Check - It's easy to get infatuated with a house or condo, but love can blind you to problems identified in the inspection and other red flags that arise. Buyers who engage in a bidding war sometimes end up paying way more than they planned to, simply because others wanted their home of choice, too. But as long as your don't get carried away, once you move in, your misgivings will dissipate as your enjoy your new home.

10.Relax! - Assuming that you make your regular mortgage payments, owning a home will not change your life all that much. (In fact, mortgage lenders will forgive a late payment every now and then without penalty, which is more than you can say for many landlords). While rent tends to increase over time, fixed-rate mortgage payments will stay the same. So relax and enjoy; your home will likely never cost you more than it did the month you moved in.

For additional information and advice anytime, please feel free to contact your local REALTOR®:

Adam Humenuik - REALTOR®, B. Comm
Hallmark Realty
306-261-2470www.SaskRealEstatePro.com
Adam@SaskRealEstatePro.com

Saskatoon Real Estate Agent

My name is Adam Humenuik and I want to be your Saskatoon Real Estate Agent. I am a Real Estate Agent in Saskatoon with Hallmark Realty. I have become a Saskatoon Real Estate Agent to fulfill my passion for real estate and helping people. I hope that you will choose me as your Saskatoon Real Estate Agent! Contact me anytime 24/7.

Adam Humenuik - Saskatoon Real Estate Agent
REALTOR®
Hallmark Realty
306-261-2470
www.SaskRealEstatePro.com

Your Saskatoon Real Estate Agent

Lesson Of Time: KARMA

When a bird is alive... It eats ants,
When the bird is dead... Ants eat the bird!
Time and circumstances can change at any time.......
Don't devalue or hurt anyone in life.
You may be powerful today... But remember,
Time is more powerful than you!
One tree makes a million match sticks...
But when the time comes...
Only one match stick is needed to burn a million trees...
So be good and do good.......
 Lesson of Time: KARMA

Treat others as you wish for them to treat you.

Tips For Maximizing Your Home Appraisal

If you want to maximize your home appraisal every leaky window, every dangling gutter and every ugly cabinet can make a big difference in the price of your home. While we all have a natural tendency to nest in the places we live, the reality is that many of the changes we make (or don't make) can make or break our home's asking price.

What to do -- and what not to do -- before and after a home appraisal?

When remodeling, DO tackle all the major features in each room.

KITCHEN

DO have:

    An open layout.
    Newer, matching appliances; stainless steel.
    Extra perks like small-beverage refrigerators, dual dishwashers, instant hot water, and a central vacuum clean-out.
    Granite countertops.
    Custom cabinetry.

DON'T try to fix outdated cabinetry or countertops. These need to be replaced if you want to add value -- new hardware won't be enough to fix them.

BATHROOM

DO have:

    New fixtures and mirrors.
    A freshly painted tub, if necessary.
    Natural light.
    Good ventilation.
    New or refaced cabinetry.

DON'T let your bathroom feel dark or have any outdated colours or materials.

BEFORE YOUR APPRAISAL

DO make a list of recent improvements to your home. Think big and small here -- this can range from renovating the kitchen to painting your deck. Make sure your appraiser has a list when comparing your home to others in the area.

DO talk to your appraiser before the inspection. Discuss your house and its history. Find out the appraiser's history, number of years in business, and knowledge of the area. The key in getting a fair appraisal is to have an appraiser that is experienced and knowledgeable in the local market, and that you've checked out.

DO ask your agent to do a walk-through with the appraiser. The agent can point out all of the work that the seller has done and make sure that the appraiser is familiar with all of the comparables in the area. The agent will remind him of how the location makes a difference in the comparables.

10 Cost Effective Home Selling Tips

Getting ready to sell? Move your property fast and for the highest selling price possible with these easy, affordable staging tricks. These deal-sealing changes will make your home attractive to the largest pool of potential buyers, and the best part is, you can start at any stage in the game.

1. Paint!
Dollar for dollar, a fresh coat of paint gives you more bang for your decorating buck than anything else. Even if your current palette is relatively new, any scuffs or wear marks will channel an unkempt vibe. And an unusual colour choice (even if the height of fashion) may limit your home’s appeal. So break out that roller and slap on a couple coats of crowd-pleasing warm neutral or sand paint.

2. Improve the Lighting
Replace any dated light fixtures ASAP. How can you tell if it has to go? If it’s over 15 years old and looks it (yet isn’t a vintage (50-75 years old) or antique piece) it should probably go. “Retro” is not something most home buyers are looking for. You don’t need to break the bank, just head to Home Depot or Canadian Tire.

3. De-clutter
Take the collectibles off the mantel, put the mismatched armchair into storage (or better yet, donate it) and pare your closets down to what you’re actually wearing this season, packing away the rest. Ideally, all this extra stuff would head to charity (if in good, saleable condition), the garbage dump, or into storage. The more you store onsite, the more cluttered and small your home appears.

4. Give Dated Bathrooms a Facelift
A nice bath helps sell a house but, don’t invest in a total renovation. Renos are costly, and you won’t recoup your costs. Bring an out-of-date bath up to speed with gleaming white/neutral walls whether via a fresh coat of bath and kitchen paint or ceramic tile and new lighting (Home Depot excels at affordable, stylish bathroom vanity lighting). Buy neutral new shower curtains, a simple new bath mat and vanity set, and have fresh flowers in the room during open houses.

5. Take Down Curtains
Dated window treatments need to come down, pronto (if it’s over 10 years old, get rid of it). If privacy isn’t an issue, just leave the windows bare to maximize natural light and make the room’s dimensions seem more generous. Otherwise, buy basic-issue cotton or linen drapes. Always tie drapes back during viewings and open houses.

6. Put Up Mirrors
Make small rooms appear bigger and dark rooms seem brighter by adding an attractive wall mirror. A boxlike dining room will benefit from a leaning floor mirror (HomeSense often has great deals) and an entrance way more welcoming with a console mirror.

7. Update Porch Hardware
Increase your home’s curb appeal by updating the hardware on your front porch. Buy a doorknocker or bell, mailbox, kick plate, doorknob and lockset in a set or in complementary styles. Brushed nickel is a neutral finish that will never date, while oil-rubbed bronze is another favourite.

8. And the Porch Light
Update your porch light to coordinate with the new hardware, if needed. They don’t have to be an exact match or even come from the same period, but the finishes and styles should look pleasing together.

9. Spiff up the Front Yard
Refresh your front yard according to the season. In spring, summer and fall, trim back dead plants and foliage and plant attractive annuals or perennials in flowerbeds. In winter, keep the walkway shoveled and cut back any tree or shrub branches damaged by heavy snowfall. A pair of planters flanking the front door and filled with seasonal arrangements instantly conveys pride of ownership.

10. Tend the Backyard
Simple fix-its will make the most of your existing yard layout. Replace any damaged boards on your deck or fence, and apply a fresh coat of paint, or stain and sealant if the finish needs it. Weed and groom your garden and add some perennials for colour when in-season. If kids’ toys are taking over the space, put some in storage. Think “tidy,” “update” and “refresh”: never do anything costly or major like adding a swimming pool or pond, which may put off potential buyers.

Then contact Adam Humenuik to list your home and you will be glad you did!

Adam Humenuik - REALTOR®, B. Comm
Hallmark Realty
306-261-2470www.SaskRealEstatePro.com
Adam@SaskRealEstatePro.com

Buying a Home: What Expenses to Expect

Budgeting for a new home can be tricky.  Not only are there mortgage installments and the down payment to consider, there are a host of other—sometimes unexpected—expenses to add to the equation.  The last thing you want is to be caught financially unprepared, blindsided by taxes and other hidden costs on closing day.

These expenses vary, some of them are one-time costs, while others will take the form of monthly or yearly installments.  Some may not even apply to your particular case.  But it’s best to educate yourself about all the possibilities, so you will be prepared for any situation, armed with the knowledge to budget accordingly for your move.  Use the following list to determine which costs will apply to your situation prior to structuring your budget:

- Purchase offer deposit.
$5,000 is common and it counts towards the payment of the home.

- Home inspection by certified building inspector.
Will vary from but it will be in the range of $350 to $750.

- Appraisal fee:
Your lending institution may request an appraisal of the property.  The cost of this appraisal is your responsibility.

- Survey fee:
If the home you’re purchasing is a resale (as opposed to a newly built home), your lending institution may request an updated property survey (Real Property Report).  The cost for this survey will be your responsibility and will range from $700 to $1000. 

 - Mortgage application at your lending institution.

 - 5% GST: 
This fee applies to newly built homes only, or existing homes that have recently undergone extensive renovations. 

- Legal fees:
A lawyer should be involved in every real estate transaction to review all paperwork.  Experience and rates offered by lawyers range quite a bit, so shop around before you hire.

- Homeowner’s insurance:
Your home will serve as security against your loan for your financial institution.  You will be required to buy insurance in an amount equal to or greater than the mortgage loan.

- Land transfer (purchase) tax:
This tax applies in any situation in which a property changes owners and can vary greatly.

- Moving expenses

- Service charges:
Any utilities you arrange for at your new home, such as cable or telephone, may come with an installation fee.

- Interest adjustments

- Renovation of new home:
In order to “make it their own,” many new homeowners like to paint or invest in other renovations prior to or upon moving in to their new home.  If this is your plan, budget accordingly.

- Maintenance fees:
If you are moving to a new condominium, you will likely be charged a monthly condo fee which covers the costs of common area maintenance.

What To Look For During A Home Inspection

Each home buyer has different ideas of what will constitute the ideal home for them, these notions often based on particular aesthetic preferences.  But one thing that unites all potential home buyers is the desire to find a home that is fundamentally sound—in areas beyond the immediate sweep of the eye—and that will provide a safe, comfortable, and efficient foundation for their life behind a new door. 

This is where the services of a home inspector come in.  During a home inspection, at least 30 areas of the home are placed under the home inspector’s “microscope.”  We’ve compiled the ten most common weaknesses uncovered in a typical home inspection.  If not addressed, these problems could cost you thousands of dollars in the long-run.  So, knowing what to look for, and performing your own thorough pre-inspection, will help you to identify areas for repair or improvement before they grow into costly problems.

1.      Damp Basement:

If a mildew odour is present, the inspector will be able to detect it, as this smell is impossible to mask or eliminate.  Mildew odour is often the first indication of dampness in the basement.  The inspector will also examine the walls, checking for any signs of whitish mineral deposit just above the floor, and will note whether you feel confident enough to store items on the floor.

Repairs can run anywhere from $200 to $15, 000, this cost ultimately influencing the calculation of your home’s value, so consider enlisting the help of an expert to ensure you have a firm grasp on the bottom line before moving forward with the sale of your home.

2.      Poorly Installed/ Defective Plumbing:

In older homes, plumbing problems and defects are very common.  The inspector will determine whether your home’s plumbing is subject to leaking or clogging.  Signs of leakage can be visibly detected.  The inspector will test water pressure by turning on all the faucets in the highest bathroom and then flushing the toilet.  If the sound of water is audible, this indicates that the home’s pipes may be too narrow.  The inspector will also check for signs of discolouration in the water when a faucet is first turned on.  The appearance of dirty water is usually an indication that the pipes are rusted—a water quality problem that should be dealt with immediately.

3.      Older/ Poorly-Functioning Heating and Cooling Systems:

Heating/ cooling systems that are older or haven’t been properly maintained can pose serious safety and health problems.  An inspector will determine the age of your furnace and, if it is over the average life span of a furnace (15-20 years), will likely suggest you replace it, even if it is still in good condition.  If your heating system is a forced air gas system, the heat exchanger will be examined very closely, as any cracks can result in the leak of poisonous carbon monoxide gas.  These heat exchangers are irreparable; if damaged, they must be replaced.  While replacing these components may seem expensive, a new system will yield heightened efficiency, reducing monthly heating/ cooling costs substantially, and benefiting your long-term investment.

4.      Older/ Unsafe Electrical System:

In older homes, it is common to find undersized services, aluminum wiring, knob-and-tub wiring, or insufficient/ badly-renovated distribution systems.  When an electrical circuit is over-fused, more amperage is drawn on the circuit than what the circuit was intended to bear, creating a fire hazard.  You’ll typically find a 15 amp circuit in a home, with increased service for larger appliances such as dryers or stoves.  If replacing your fuse panel with a circuit panel, expect a cost of several hundred dollars.

5.      Older/ Leaking Roof:

An asphalt roof will last an average of 15 to 20 years.  Leaks through the roof could be a sign of physical deterioration of the asphalt shingles caused by aging, or could indicate mechanical damage caused by any number of factors, such as a heavy storm.  If you decide your roof requires new shingles, you’ll first need to know how many layers are beneath, in order to determine whether the roof must be completely stripped before installing the new shingles.

6.      Minor Structural Problems:

Common in older homes, these problems range from cracked plaster to small shifts in the foundation.  While this variety of problem isn’t large enough to cause any real catastrophe, they should be taken care of before they grow.

7.      Poor Ventilation:

Unvented bathrooms and cooking areas can become breeding areas for mold and fungus, which, in turn, lead to air quality issues throughout the house, triggering allergic reactions.  Mold may additionally cause damage to plaster and window frames.  These problems should be identified and taken care of before any permanent damage is caused.

8.      Air Leakage:

A cold, drafty home can be the result of any number of problems, such as ill-fitting doors, aged caulking, low-quality weather strips, or poor attic seals.  This nature of repair can usually be taken care of easily and inexpensively.

9.      Security Features:

An inspector will look at the standard security features that protect your home, such as the types of lock on the doors/ windows/ patio doors, and the smoke or carbon monoxide detectors and where they’re located throughout the home.  Check with an expert if your home is lacking in any of these areas, in order to determine what costs to expect.

10.  Drainage/ Grading Problems:

This may be the most common problem found by home inspectors, and is a widespread catalyst of damp and mildewed basements.  Solutions to this problem may range from the installation of new gutters and downspouts, to re-grading the lawn and surrounding property in order to direct water away from the house.

“Drive-Up Appeal”: Get your Property Ready to Show

When preparing your property to show, work your way from the outside in.  It is essential that your home possess a certain “drive-up appeal.”  Remember, a potential buyer’s first impression of your house is formed while s/he is still sitting in the realtor’s car.  So, first you need to view your house from this perspective.  Go stand on the opposite curb and observe your property.  Compare it to surrounding properties.  Concentrate on the following three areas:

Landscaping:

How does your landscaping measure up compared to the rest of the neighbourhood?  If you guess it would rate below-average, make a few adjustments.  You might want to consider buying some bushes and planting them around the property.  Do not buy trees, however—mature trees are expensive, so you will not see a return on your investment.  And immature trees don’t tend to significantly improve the immediate appearance of your home. 

If the problem with your yard isn’t a case of too little greenery, but rather too much, get out the pruning shears.  The purpose of landscaping is to complement the home, not hide it.  Overgrown shrubs should be sheared to a height near the bottom of the windows.  Remove any ivy clinging to the side of the house.  Tree limbs should be high enough that you’re able to walk beneath.  Trim any branches that bar the way.

Your lawn should be freshly cut and watered, and an even colour.  If there are brown spots, make sure you begin to remedy this well in advance of putting the house on the market.  You may want to re-sod areas, and you need to make sure these spots are given enough time to grow, so they will match the existing lawn.  Also, if you decide to use fertilizer, you’ll want to allow enough time for it to take effect.  Rake up any leaves or grass cuttings.

Planting a few flowers is an easy way to add colour and vibrancy to your yard, enhancing the first impression of your home.  Invest in a full flat of mature, colourful flowers, such as petunias or periwinkles, which last the length of the growing season.  Do not buy bulbs or seeds—they won’t necessarily grow enough by the time you begin showing to achieve the desired effect.  If you don’t have an area in which to plant flowers, consider purchasing a few flower pots for your porch and planting flowers or blooming plants.

If you have a pool, keep it sparkling and leaf-free.

House Exterior:

When you view your house from across the street, does it appear weathered or faded?  If so, it’s probably time to treat it to a fresh coat of paint.  This is usually a sound investment; new paint can do wonders to increase a home’s perceived value.

Stay away from unusual or loud colours.  The new colour should fit in with surrounding houses, and complement the style and structure of your house.

Examine the roof closely.  Old or leaking roofs should be replaced.  If there are leaks, you’ll have to disclose this detail to the homebuyer anyway, and they will want it replaced.  If there isn’t any apparent damage, however, wait for word from the home inspector before making repairs.

The Front Door and Porch:

The front door and surrounding area should look particularly fresh and welcoming, as this will be the buyer’s first up-close impression as they enter the house.  If you paint nothing else, at least give the door a new coat.  Replace the doorbell if it is broken and polish the door fixture until it gleams.  Wash the mail box.  Keep the porch swept and buy a new plush door mat.  All of these little things will contribute to the overall effect of a well cared-for and welcoming home.

Ensure the lock works smoothly and the key fits properly.  When a home buyer visits your house, the Realtor will open the front door with a key.  You don’t want the buyers’ first experience to be of waiting on the doorstep while the Realtor fumbles with the lock.

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Why Hire Adam Humenuik As Your Real Estate Professional?

1. I Know My Business
- I know the actual selling prices of comparable properties (your competition). I can advise you about the best methods of enhancing certain features of your property to make it more attractive to prospective buyers.

2. I Know Where To Look For A Buyer
- Through the advertising that I will do on this and similar properties that I or my brokerage have listed in the same price range, I will be able to generate prospects for your property. I will be able to qualify these prospects before I bring them to inspect your property.

3. I Know How To Negotiate
- As a seller’s agent, familiar with all aspects of real estate, I am well qualified to negotiate a contract between sellers and buyers.

4. I Know How To Expedite
- My knowledge of finances enables me to speed up arrangements for financing and to help you complete the transaction in minimum time, thereby reducing the need for interim financing.

5. I Am Experienced With Real Estate Law And Practice
- Part of my services to you is protecting your interests throughout the negotiations, closing, and avoiding any practices that might result in legal entanglements.

6. I Am Committed To Providing A High Level Of Service To You And To Selling Your Property
- When you hire me, providing service to you and selling your property are my main objectives. You do not have to stay home for fear that you will miss a call, or to show your property; I will be doing that for you. You can feel free to go about your normal pursuits, secure in the knowledge that I am taking care of the business of selling your property.

7. I Get Paid When You Sell
- When your property sells, for the price, terms, and conditions you accept, only then do I get paid.

Adam Humenuik – REALTOR®, B. Comm
Hallmark Realty
306-261-2470
www.SaskRealEstatePro.com
Adam@SaskRealEstatePro.com