Thinking about a home remodel but wondering which projects will give you the best return on investment (ROI)? While the most profitable upgrades vary by market, certain renovations consistently provide high returns. If you're planning to sell or simply want to increase your home's value, consider these high-yielding remodel projects as recommended by appraisers.

1. Garage Door Replacement
A garage door is one of the first things people notice about a home, making it a high-impact upgrade. Replacing an old or outdated garage door with a modern, energy-efficient model enhances curb appeal and can yield a significant ROI. Homeowners often recoup over 90% of their investment with this update.

2. Minor Kitchen Remodel
A full kitchen renovation can be expensive, but a minor remodel often brings a better return. Refreshing cabinets with new hardware, upgrading appliances, replacing countertops, and updating backsplashes can dramatically improve a kitchen’s appeal. A small yet strategic investment in your kitchen can provide an ROI of around 70-80%.

3. Fiber Cement Siding
New siding instantly transforms a home’s exterior, improving both aesthetics and durability. Fiber cement siding, in particular, is highly resistant to weather, pests, and fire. It requires minimal maintenance and significantly enhances energy efficiency, making it a favorite among buyers. This upgrade typically recoups about 65-75% of its cost.

4. Vinyl Window Replacement
Old, drafty windows can be a turnoff for buyers and a drain on energy efficiency. Replacing them with modern vinyl windows improves insulation and reduces utility costs. This cost-saving appeal often results in a return of around 70% of the initial investment, making it a smart remodel choice.

5. Wooden Deck Addition
Outdoor living spaces are increasingly desirable, and adding a wooden deck is a cost-effective way to expand your home’s usable space. A well-built wooden deck enhances outdoor entertainment potential and can bring an ROI of 60-70%. Choosing high-quality materials and thoughtful design can further boost its value.

Not all home renovations offer the same return, so focusing on high-impact projects is key to maximizing your investment. Whether you’re planning to sell soon or just want to boost your home's value for the long term, these remodels can help you get the best bang for your buck. Always consider your local market trends and consult with professionals to ensure you’re making the best choices for your home.

Buying a home is one of the biggest financial decisions you’ll ever make, yet many myths can make the process seem overwhelming or misleading. Let’s set the record straight on three common misconceptions about homebuying so you can navigate your journey with confidence!

Myth #1: Find the Home You Want First
It might seem logical to start your homebuying journey by searching for the perfect house, but this approach can lead to disappointment or frustration. The smarter move? Get pre-approved for a mortgage first! Knowing your budget upfront helps you narrow down your options and makes you a stronger buyer in a competitive market. Plus, sellers are more likely to take your offer seriously when they see you’re pre-approved.

Myth #2: Your Down Payment Must Be 20%
A 20% down payment is ideal, but it’s not a requirement. Many loan programs allow for much lower down payments. There are also down payment assistance programs and grants available for first-time buyers. Don’t let this myth hold you back from achieving homeownership sooner than you thought possible.

Myth #3: You Don’t Need a Home Inspection
Skipping a home inspection to save money or speed up the process can be a costly mistake. A professional home inspection helps uncover potential issues, such as structural damage, plumbing concerns, or electrical problems. Even in a competitive market, it’s worth negotiating time for an inspection to avoid unexpected expenses down the road.

Understanding the realities of homebuying can make your journey smoother and more successful. Don’t let myths hold you back. Stay informed and take the right steps toward homeownership with confidence!

New interior design trends sweep in every year, but not everyone can re-furnish or re-paint an entire home just to keep up. However, making small changes, like incorporating new colours, textures, or accent pieces, can spruce up your space and help you express your style and personality.

Now that you know what colours are officially “in” this year, as chosen by the top paint companies and Pantone’s colour experts, how can you incorporate a bit of these trendy shades into your home? We spoke with designer Maria Killam from Chilliwack, British Columbia, for her view on how you can use design trends to update your space in 2025. Killam is an acclaimed decorator, stylist, and author of two best selling eBooks: How To Choose Paint Colours and White Is Complicated.

Trend 1: Use vibrant colours in accent walls and décor items

Move over, muted neutrals. Killam expects richer, more vibrant colours to take centre stage in 2025. While stark white was all the rage for walls and kitchen cabinets, beige is back, she says.

“Things are warming up,” says Killam. “Brown is everywhere, and so is burgundy; we haven’t seen burgundy this big since the 1980s.”

Brown and burgundy can act either as a soft neutral or vibrant contrast. Consider bringing in these shades through accent pillows, cozy throws, or a new area rug to inject energy and inviting warmth into your living room. In the kitchen, install a few decorative wooden shelves for more storage and a pop of earthy colour.

Trend 2: Mix functional with decorative light fixtures

Lighting can double as functional art, so don’t be afraid to bring it into your home in less traditional ways.

“We’ve been doing the black and white trend for eight years, and now people want to warm up all the white boxy spaces,” says Killam. “To add a glow and make any living room better instantly, bring in four lamps—one for each corner. Get a white shade, not an opaque shade, otherwise no light can come through.”

Organic and curved shapes are right on trend for 2025, so invest in sculptural gourd-shaped lamps – available in a wide variety of materials and colours—to add interest, she adds.

“Buy them in a colour that matches your living room, and you’ll be so happy—you don’t even need any accessories on that end table if you have a beautiful gourd lamp,” she says.

Trend 3: Incorporate textures and natural elements into room designs

Biophilic design—bringing elements of nature into your living space—features plants, water features like fountains or aquariums, and natural materials like wood, rattan, jute, and more, to help transform your space into a soothing oasis.

Incorporating new textures into your home adds depth, and you can combine different ones—try mixing linen, stone, and wool. Maximize natural light by swapping out heavy curtains in favour of breezy sheers to flood rooms with sunlight. You may also want to add a large potted plant as a statement piece or create a living wall with pretty succulents.

Trend 4: Balance comfort with elegance in your bedrooms

For the new year, think comfort—balancing elegance with a soft, relaxed space you can retreat to. Consider sprucing up your bed with a cozy throw, for example, or treat yourself to a bold area rug that will feel warm underfoot during the winter.

In the market for a new duvet cover? Choose one in trendy jewel tones. You can also upgrade your bedside lamps here, too. Cool metallics like chrome, silver, and nickel will be huge in 2025, Killam notes, and are a great way to bring in some bling. But don’t skimp on the size.

“You need bedside table lamps that are bigger than the 10-inch ones you’ll find at big box stores. Get a 30-inch lamp that coordinates with your bedding,” she says.

Trend 5: Personalize your space with art

Using artwork to bring some life and depth to your walls isn’t a new concept. For 2025, we’re continuing to see gallery walls over single statement pieces. If you have a really large wall, you probably need six or seven pieces arranged in a gallery.

Consider mixing old with new by incorporating one or more retro accent pieces such as a mid-century curvy armchair or coffee table. Or, arrange some unique accessories like vintage books or vases when styling a shelf or fireplace mantel – these can add a splash of personality and nostalgia to any room. Try moving some of your existing pieces to another spot for a whole new look.

Above all, have some fun with trends that resonate with you. Don’t worry about experimenting with different ideas to create your ideal sanctuary.

Source: https://www.realtor.ca/blog/an-interior-designer-shares-5-ways-to-refresh-your-home-in-2025/37443/1367

For many Canadians, the start of a new year is a time for new resolutions. While eating healthier and getting more exercise still rank as the most common New Year’s resolutions in Canada, with both inflation and interest rates continuing to drop, more and more Canadians are making resolutions for 2025 that include the possibility of buying a home.

Will 2025 be a good time to buy a home?

For the past few years, high interest rates, increases in the cost of living, and political and economic worries have kept Canada’s housing market fairly flat (remember, the national housing market was even as “flat as a pancake” not too long ago). But with both mortgage rates and inflation now on their way down, 2025 is increasingly shaping up to be a busy market.

“I believe the first three months of 2025 will be one of the best times to buy in a very long time,” says REALTOR® Romey Halabi, founder of Toronto Realty Boutique in Toronto, Ontario.

In Toronto, Halabi says that will likely lead to something that hasn’t happened in “quite some time,”: a condo market that’s favourable to buyers simply because of the inventory that’s on hand.

Alan MacDonald, a Chartered Financial Analyst (CFA) and Senior Investment Advisor with RBC Dominion Securities’ MacDonald Advisory Team in Ottawa, Ontario, cautions even if prices fall, however, many Canadians will still be unable to afford to buy a home.

“Falling interest rates mean it’s easier to afford a larger mortgage, which typically draws more people into the real estate market,” MacDonald explains. “But one of the side effects of falling rates over the last 15 years has been an unprecedented boom in housing prices in Canada. So while falling rates should push more people into the market, the hurdle is there are fewer people who can afford to take the plunge.”

In addition, there will likely be a federal election in 2025, which could impact both home sales and prices.

“As we’ve seen in the past, federal elections can influence the housing markets, especially if they involve policy changes that promote affordability and impact demand and prices,” says Luisa Hough, a mortgage broker in Surrey, British Columbia, and co-founder of Verico Xeva Mortgage.

“But along with declining inflation, the predictions are to expect economic stabilization in 2025, which should increase consumer confidence and the housing market,” she adds.

Are you ready to become a homeowner?

The next question to ask yourself is whether you’re ready to become a homeowner. While individual circumstances vary, there are a few rules of thumb that can help you decide if this is the right time for you. For example:

• Are you ready to commit to living in one home for the next few years? If there’s a good chance you may need to move in six months, it’s probably not an ideal time to buy.

• Are your career and short-term plans fairly stable? Or are you thinking about making any big changes that could have an impact on your housing needs, personal situation, or income?

• If you’re currently renting, are you ready to take care of all the repairs, maintenance, and other tasks that come with owning a home?

• Perhaps most importantly, are you financially ready to own a home? Buying a home could be the biggest financial decision you ever make. Our affordability calculator can help you calculate your monthly housing costs and figure out how much you can afford to spend. Just remember to factor in all the expenses that come with homeownership, not just the mortgage payments. This includes things like condo fees, insurance, utilities, repairs and maintenance, and property taxes.

“When a buyer is thinking about buying a new home, their decision should be based solely upon their needs,” Halabi says. “An expanding family, marriage, moving to a new city, getting into a new school district—these are all life moments that may require a new home.”

For Hough, the “right time to buy” is less about what’s happening in the market, and more about your personal choices and circumstances.

“If you have the down payment, income, and are ready to make the move to being a homeowner, then it’s the right time to buy,” she says. “We can’t time any market. So as long as you’re in the position to purchase, the right time is when you’re ready.

“Real estate is generally not a short-term investment where you can try and time the market for one or two years,” she adds. “But if you stay invested in real estate long term, you can generally do well.”

When to contact a REALTOR® (and how they can help)

If you’ve resolved to become a homeowner this year, start your search for a local REALTOR® who will work best for you and your needs as early in the process as possible.

“It’s never too early to start working with a REALTOR®,” Halabi says. “They’re the first draft in your real estate team, as they can help connect you with a mortgage broker, lawyer, and anyone else you need.”

In addition to connecting you with their network of professionals, a REALTOR® can also answer any questions you may have, keep you informed about the latest ups and downs in the market, walk you through each step in the home buying process, and help you negotiate the best possible price for your new home.

If you don’t already have a REALTOR®, ask friends or family members for recommendations, or check out reviews of REALTORS® in your area online and through social media. You can also use our Find a REALTOR® tool to narrow your search down by location, languages spoken and areas of specialization.

“Getting the conversation going with a REALTOR® is the first step in educating yourself in how the process works” Halabi says. “Work with someone you actually like, because you’re going to be spending a lot of time together, and you want to ensure you’re comfortable being honest.”

What to do before you buy

If you decide you’re ready to buy, there are a few simple things you can do to make the home buying process as seamless as possible, and get the best possible deal on your new home. Your REALTOR® will help build a plan for your specific needs and timing, but you can always start with the basics. This includes:

• Make a list of your wants and needs in a home, so you know exactly what to look for. Do you want a single-family home, a townhouse or a condo? How many bedrooms or bathrooms? What other features are important to you?

• Identify which neighbourhoods you want to live in. If you’re thinking about moving to a new area, check out our Neighbourhood Guides or ask your REALTOR® for advice.

• Find out your credit score, and see what you can do to improve it if necessary.

• Use an affordability calculator to figure out how much you can afford to spend on a home, and create a budget to make sure you stay on track financially.

• Get pre-approved or pre-qualified for a mortgage so you’ll know in advance exactly what price range you should be looking at.

• Lastly, find out if you’re eligible for the Home Buyers’ Plan (HBP), GST/HST housing rebate, home buyers’ tax credit, or any other federal home buying programs and incentives. If you aren’t sure what these programs are or if you qualify, check with your REALTOR®.

“The first step I always recommend to my clients is to get their pre-approval, so you know how much you can afford,” Halabi says. “Next, decide what your top neighbourhoods are. Then make a list of your must-haves and nice-to-haves. When buyers are prepared and organized, they won’t get caught up in an emotionally charged decision.”

For Hough, getting pre-qualified for a mortgage is almost always the best first step to take.

“In my eyes, every buyer must get pre-qualified,” she says. “There’s a misconception on pre-approval vs. pre-qualification. There are similarities in both… [but] pre-qualification is a more formal process, where we ask for all the documentation and information upfront to ensure if there are any obstacles during the mortgage process, we can address them.

“Pre-qualification helps the borrower clarify their budget, strengthen their offer and speed up the subject-to-financing process,” she explains. “Getting pre-qualified early on can save time and stress for the borrower.”

Maximize your down payment

If you still have some time between now and when you’re planning to buy, try to save as much as you can for that all-important down payment. This will help maximize your chances of getting approved and getting the best possible rate on your mortgage.

If you don’t have enough saved up to afford the home you want, creating a budget can help you save more. You can also grow your down payment in the meantime by putting what you’ve already saved into a safe, liquid investment like a GIC or high-interest savings account, or temporarily investing your savings in an RRSP, TFSA, or the new First Home Savings Account (FHSA).

“Investments with a short time frame such as 12 months or less should be in savings accounts or cashable GICs,” MacDonald notes. “There are a number of providers that offer high interest bonuses to new accounts, so it’s worth doing a bit of shopping.

“Buyers who haven’t owned a home in the last four years should also take advantage of the FHSA, which lets you contribute up to $8,000 per calendar year,” he adds. “You get a tax deduction for each contribution and no tax payable when you use the funds to buy your first home. But unlike an RRSP or TFSA, the contribution room doesn’t carry forward if you don’t open an account.”

Additional considerations for first-time home buyers

If you’re a first-time home buyer, there are some additional things you may need to prepare. For instance, some first-time buyers aren’t aware of how long the home buying process can take.

“The home buying process length can differ from buyer to buyer,” Halabi explains. “I’ve had clients who are very open to one or two neighbourhoods who found a home in a couple weeks. But others who have more specifics on their must-have list could take longer.

“Most sellers ask for a 30 or 60-day close,” he adds. Meaning, the final transfer of ownership would take place either 30 or 60 days after the agreement is signed.

Depending on your budget, you may need to start with a smaller or more modest home for your first property. This can allow you to build both your equity and your experience, while still getting your foot on the first step in the property ladder.

Plus, don’t put yourself in a situation where you buy more home than you can realistically afford or maintain. While you may be tempted to stretch your budget to get a home that seems perfect, being “house rich, but cash poor,” can be a very stressful—and risky—way to live.

“For people who are currently renting, the mortgage payment may be close to what you pay in rent,” MacDonald says. “But there are all kinds of other expenses associated with homeownership, like taxes, insurance and upkeep. If you don’t have exact numbers, use 2% or 3% of the purchase price to estimate your added monthly ancillary costs. Then try living for six months as though you already own the home, to see if you can do it before you make the leap.”

The information discussed in this article should not be taken as financial or legal advice. This article is for informational purposes only.

Source: https://www.realtor.ca/blog/hoping-to-buy-a-home-in-2025-heres-what-you-need-to-know/37423/1363

Learn how to avoid common landscaping blunders and how to remedy the ones that may already be creeping into your yard.

Mistake: Not Recycling Your Fall Yard Waste
Fall yard projects tend to produce a good amount of waste; what a shame to let good waste go to waste.

Solution: Compost It
Instead of tossing out those fall leaves, branches, clippings and other debris from your fall clean-up, dispose of them in an eco-friendly way. Rent a shredder and turn them into mulch, and put lawn clippings back on the lawn — they are both great fertilizers. Better yet, create a compost pile or build a compost bin. Layer yard waste with food scraps and in no time you'll have rich fertilzer that didn't cost you a dime.

Mistake: Neglecting Curb Appeal
Never underestimate the power of curb appeal. A lot of homeowners put all of their energy into the backyard, but the front of the house is where first impressions are made.

Solution: Do These Three Things
There are three simple improvements you can make that make a big difference. Paint your door a contrasting color than the base color of your home, keep the grass trim and green and plant colorful flowers.

Mistake: Excessive Lawn Tchotchkes
People often make the mistake of putting too many decorative items in their yard, which can distract from the beauty of the natural landscape.

Solution: Be Selective
Before filling your yard with a gaggle of garden gnomes, ask yourself why you're putting it there and how it fits the context of your overall design and plant materials. Stick with one choice, even if it is a little silly. One whimsical statement goes a lot further than 10.

Mistake: Planting in the Wrong Place
Improper plant placement is another common mistake. People often do not take into consideration the needed sunlight and exposure for their plants.

Solution: Read the Plant Tag
Be sure to pay attention to the little tag that you get when you buy the plant. When it comes to planting trees, you need to remember how big they could get and how much space they are going to need. Also think about focal points — choose something that's going to look good year-round.

Mistake: Leaving Tools Out in the Elements
Let's be honest: Quality tools cost a pretty penny so leaving them out to ruin in the rain is like throwing money away. Plus, rusty shears will make uneven, dull cuts that can harm even healthy plants.

Solution: a Dedicated Storage Spot
Whether it's an organized corner in your garage or a standalone garden shed, storing expensive garden tools indoors will prolong their usefulness for many years to come.

For more tips, visit: https://www.hgtv.com/outdoors/landscaping-and-hardscaping/25-biggest-landscaping-mistakes-pictures

Interior designers share the top out-of-date details prospective buyers will spot first in a home, no matter what.

Refreshed and Ready to Sell
Whether you’re polishing up your home to sell or just want to enjoy some modern touches, dated decor can make a home seem stuck in the past.

“While some so-called ‘outdated’ items may be off-trend, if the current homeowner loves them, that’s what’s important,” says Jenny Williamson, chief creative officer at West Rose Design. While you don’t need to try every new decorating trend, "if you’re selling your home, it’s good to be aware of what will appear less than ideal for prospective homebuyers.”

Here are the dated features buyers always notice, according to our experts.

Wall-to-Wall Carpet
Although carpet was once very much in favor (even in bathrooms!) in the 1970s, these days, Williamson says, if there is carpet anywhere other than bedrooms, “it’s a no-go.”

“Newer homes typically never have a carpet delineation in shared spaces or wall-to-wall carpet everywhere, as seen in the ’70s and ’80s,” she says. “Carpet more easily traps dirt and debris and is not viewed as ideal when looking for a new home.”

Try Layering Rugs
But let’s say that replacing it isn’t within your current budget. In this case, Williamson recommends diverting focus by adding throw rugs over the carpet, creating a more layered look that will help separate spaces.

Popcorn Ceilings
Williamson says that while popcorn ceilings were certainly “all the rage” in the 1960s and '70s, today, they look totally outdated.

“They will be a clear turnoff for any new homebuyer, not only based on looks alone, but also for the health hazard — most popcorn ceilings installed before 1978 were installed with asbestos, a fiber that can increase the risk of several serious diseases and cancer,” Williamson says.

Corner Alcove Tubs
Corner alcove bathtubs were once a sign of an upscale primary bathroom, but according to Lindsie Davis, owner and principal designer of Blueberry Jones Design, they’re a thing of the past. Davis points out that these “trending beauties of the ‘90s” take up valuable floor space, often resulting in a smaller shower. And don’t even get us started on how hard these tubs are to clean and maintain.

Heavy Curtains
Sure, heavy curtains can keep light out, if that’s your goal, but nowadays, prospective homebuyers are all about natural light. A darker space can appear dated, Williamson notes, and heavy draperies won’t allow the maximum amount of light into a home.

Glass-Block Windows
Remember those glass-block windows that were the thing in the 1980s? Well, they might be fresh in your mind if they are currently residing in your home. Davis says these “clunky, cloudy bricks,” can take away from a spacious and airy feel — something that feels much more right-this-minute.

“Over time, these windows tend to collect dust, grime and not to mention soap scum if used in a shower area, which is never a great impression for a potential homebuyer,” Davis says.

Builder-Grade Lighting
Perhaps you moved into your home and never swapped out the existing light fixtures. This is an all-too-common move among homeowners, but more often than not, these lights eventually look out of date. Specifically? Williamson cites “ornate chandeliers” and the dreaded “boob lights” as ones that should be replaced.

Try Adding Lamps
But if you can’t replace old overhead lighting for one reason or another, Williamson recommends adding lamps at eye level to pull the eye away from the overhead lighting.

Tuscan Style
Everyone seemed to be clamoring for “Tuscan style” back in the 2000s, but in modern times, “Unless you live in Italy, having everything in your home reflect a rustic Tuscan style is incredibly specific and less than optimal,” Williamson says. The style can include things like wrought-iron fixtures, cherry cabinets, deep-colored accent walls and other ornate details, which will “divert attention away from the home’s other selling points,” Williamson says.

Old Paint
Davis believes that paint is essential maintenance for a home. Not necessarily speaking to trending colors, she says that simply a “good refresh and re-coat” will do wonders for your space.

Try a Fresh Coat
“A fresh coat of paint will keep your home feeling clean and energized and is a simple way to offer a great impression for prospective homebuyers,” she adds.

Old Wallpaper
In the same vein, old wallpaper should be avoided as well. Particularly, Williamson says that wallpaper with “borders or an outdated pattern” immediately dates a home. And she says that while some homebuyers might feel a pang of nostalgia for Grandma’s house, they likely don’t want old-fashioned wallpaper in their own house.

Try a Neutral Backdrop
“Replace it with a more modern take on wallpaper or remove it altogether for a neutral backdrop,” she advises. “Decorating is more than just aesthetics,” reminds Davis. “A well-designed home will help your life stay organized and efficient, which in return will create a calm and welcoming environment.”

Source: https://www.hgtv.com/design/decorating/design-101/dated-features-home-buyers-always-notice-pictures

Following holiday splurges, you may be looking for ways to save money. Did you know that with very little effort and often no additional investment, you can make changes around your home that save up to $1,500 annually? These tips will help you reduce your electrical, heating and cooling costs all year round.

Phantom Power
Phantom (or standby power) can account for up to 10% of your home’s energy use. The average Canadian household has 25 electronic devices that use phantom power, costing approximately $150 a year in wasted electricity (Hydro One). Unplug coffee makers, phone chargers, computers, etc. when they are not needed.

Toaster Oven
Toaster ovens use 50% to 70% less energy than a full-size oven and they won’t heat up the home to the same degree—a welcome relief on hot summer days.

Pitcher of water
Keep a pitcher of filtered water in the refrigerator to enjoy a refreshing sip without running the tap waiting for the water to get cold. This is also an economical alternative to bottled water.

Cold water wash
According to General Electric, an estimated 75% to 90% of all the energy your clothes washer uses goes to warming up the water. Cold water saves money and makes your clothes last longer. Typically, warm water is required only for bed sheets and items stained with sweat or blood.

Air drying
Dry your clothes on a rack or line when possible. This saves on electricity costs and extends the life of your appliance. Consider this: a basic dryer now starts at $725 with tax and will last about a decade depending on usage. If you do two loads per week, the true cost of each dry cycle is approximately $0.70 for the machine plus $0.55 for the electricity.

If you find your clothes feel stiff from air drying, add a few tablespoons of vinegar, Epsom salts, or baking soda to the wash.

Filters
Clean filters allow for better airflow and improved machine efficiency. Each time you use your clothes dryer, wipe out the filter first. Clean or replace the filter in your furnace according to the manufacturer's instructions.

ENERGY STAR appliances
When it’s time to purchase a new appliance, choose one with a high Energy Star rating. The rating is part of a voluntary partnership between the Government of Canada and industry to make high efficiency products visible to Canadians.

Water heater insulation
For as little as $6, you can reduce heat loss from your water heater. If the tank is electric, you can use polyethylene or neoprene foam pipe covers. If you have a gas water heater, your safest choice is fiberglass pipe-wrap (at least 1-inch thick) without a facing that is secured with either wire or aluminum foil tape (U.S. Department of Energy).

If the outside of your water heater tank feels hot, it is poorly insulated. For as little as $50, you can purchase an insulated foil wrap that will pay for itself within a year.

Ceiling fan
Since hot air rises and cool air sinks, a ceiling fan can reduce your heating and cooling costs. During the summer, set the fan to rotate counterclockwise to draw up cool air. During the winter, set it to rotate clockwise to distribute heat throughout the room.

Thermostat settings
Lowering your thermostat by one degree Celsius in the winter can save you $25 per month, depending on the size of your home. Enjoy similar savings raising the thermostat by a degree in the summer.

Drafts
If your home feels drafty, it may have leaks. Seal any cracks in window and door frames, walls, ceilings, and floors.

LED lightbulbs
According to the U.S. Department of Energy, the average household saves about $225 in energy costs per year by using LED bulbs compared to incandescent and they last up to 25 times longer. LEDs also last longer than florescent bulbs, which release toxic mercury when they break.

Bonus tip: Compost kitchen scraps

Compost your fruit and vegetable peelings in your garden. This feeds worms and vital microorganisms in your soil reducing the need for fertilizer. You will also reduce the amount of garbage you lug to the curb each week! 

Canada Greener Homes Grant money
If you wish to save even more, the Canada Greener Homes Initiative reimburses homeowners up to $600 for pre- and post-retrofit EnerGuide evaluations and offers grants ranging from $125 to $5,000. Eligible retrofits include home insulation, new windows and doors, solar panels, roofing membrane, etc. To learn more, visit the Natural Resources Canada website.

Source: https://www.sutton.com/blog/home-improvement/easy-ways-to-save-1-500-annually

As home prices and interest rates increased this year, some Canadian families are choosing to help their kids get a foothold in the real estate market. One of the ways they’re doing that is with gifted down payments.

A 2021 CIBC report said 30% of first-time buyers in Canada got a boost thanks to receiving money as a gift for a down payment on a home. James Harrison, Mortgage Broker at Mortgages.ca estimates that, in some markets, that number is a lot higher, with gifts ranging anywhere from $10,000 to more than $1 million. There is no limit to the amount that can be gifted.

“At least two-thirds of my clients are getting a gift of some amount,” he says. “Parents just want to help their kids buy, with the goal often being a 20% down payment.”

According to the CIBC report, in 2015, the average Canadian gift was $52,000. In 2021 it was $82,000. Gifts in Vancouver lead with the highest average in Canada, clocking in at $180,000, and Toronto a close second at $130,000.

What are gifted down payments?
A gifted down payment is exactly what it sounds like: a monetary gift from a parent, grandparent, sibling, or other close relative, towards the purchase of a home. It isn’t a loan; it’s non-repayable. The person doing the giving should have zero expectations of getting that money back, and will often be asked to sign an agreement to that effect.

How are gifted down payments different from co-signing?
When you give a gift, you don’t own any part of the property, but you also don’t assume any of the risk. If you co-sign, you are on the title—and 100% liable if the homeowners default on their mortgage. Co-signing can also impact your ability to borrow: whatever amount you have co-signed for will look like you borrowed it yourself.

Do gifted down payments have any impact on a mortgage approval?
No. Your income determines the max you qualify for, and the down payment is on top of that. Of course, the more of a down payment you have, the less you’ll need to borrow. So if you only qualify for a smaller loan, a gift can help you buy something bigger than you could otherwise afford.

“A gift can also get you from an insured purchase (less than 20% down) to a conventional one,” says Harrison. “Insured only gets you a max 25-year amortization, with strict debt ratios. But with 20% or more down, you could potentially qualify for a 30-year amortization with more give on the ratios. That can make a big difference in the total mortgage you qualify for.”

What are the rules around gifted down payments?
Everyone needs to sign a mortgage gift letter (each lender has their own template). Harrison says you must also provide proof that the gifted funds have been deposited into your account, and they should be there no later than 15 days before closing. For funds coming from outside Canada, lenders want to see those in your (Canadian) account 30 to 90 days before closing.

Depending on how gifted funds are used in the transaction, there may also be obligations to comply with Canada’s anti-money laundering laws, according to Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC). For example, if the gifted funds are provided directly to the REALTOR®, the REALTOR® would have an obligation to verify the identity of the individual providing the funds.

Can we use borrowed funds to gift money to our kids?
Yes, you can. However, it’s probably not as common as you think: only about 5.5% of gifting parents use debt to finance gifting. If you’re considering using your line of credit, just be careful about your debt load, especially if you’re looking to retire anytime soon.

Are there any tax implications to gifting a down payment?
In Canada, gifted down payments aren’t taxed. Immediate family members can provide the gift without either side being on the hook taxwise. Of course, it’s always prudent to check with a tax professional for info pertaining to your specific financial situation.

That being said, Harrison suggests to his clients they consider protecting the gift in the event the recipient splits from their partner. Otherise, half your gift could end up with the departing spouse/partner.

Getting into the real estate market can provide plenty of benefits, like housing stability, an investment opportunity for yourself, and numerous social benefits. Helping your immediate family members with a down payment, if you’re able to, can be a great way to get them into the market so they can begin their homeownership journey.

The information discussed in this article should not be taken as financial or legal advice. This article is for informational purposes only.

Source: https://www.realtor.ca/blog/everything-you-need-to-know-about-gifted-down-payments/34688/1363

After the Christmas tree, stockings and string lights come down, the house can look a little ... lackluster. Add a bit of cozy cheer to your home with these wintery — but not Christmassy — decorating ideas.

How to Decorate After the Holidays
We get it: It can be hard to part with your Christmas decorations at the end of the holiday season. Once they’re taken down, it just feels like there’s something missing from your home, doesn't it? If you’re experiencing some post-holiday blues, try these simple decorating tips that’ll help you transition into winter. Start by putting away anything overtly Christmassy: Think Santa figurines, stockings, candy canes, bows and — of course — the Christmas tree. Then, replace those items with more subtle color and texture in the form of fresh greenery, plush fabrics and metallic accessories. Some of your existing holiday decor may fit the bill, but if not, we’ve got easy and inexpensive ideas for every room.

First up
After you’ve taken the Christmas tree down, consider adding some unadorned greenery to your home for a burst of fresh color and scent. You may even be able to forage it from your backyard! A pair of potted pine trees and tree cuttings hung on the wall lend a wintry feel to this dining room.

Add Plush Faux Fur
Decorating for winter is all about layering cozy textures, and faux fur is one of the coziest options of all. Add a couple of faux fur throw pillows to your accent chairs or a perfectly draped blanket over your sofa to create a space you’ll want to snuggle up in all season long. Gray or brown fur will lend a rustic touch to your decor, while white fur will look more modern and call to mind a snowy landscape.

Take a Cue From Winter Clothing
Think about your favorite winter clothing — like a thick, warm cable-knit sweater — and try to capture its look and feel in your home decor. Incorporate cozy, sweater-like texture into your space with pillows, throws or even ceramic vases like the ones seen here. You can make your own cable-knit-inspired vessels by cutting old sweaters to size and adhering them directly to glass or ceramic vases with spray adhesive or starch.

Repurpose Holiday Lights
You don’t have to pack up the string lights as soon as the holidays are over; put them to use in creative new ways to give your home a warm glow all winter long. Try hanging string lights, a sheer curtain and faux ivy from a curtain rod to create a dreamy backdrop behind your bed, like YouTube creator Karen Kavett did here.

Spruce Up the Mantel
After the Christmas stockings come down, the fireplace mantel can look a little bare — but it doesn’t have to. Dress it up with some simple, seasonally appropriate decor; greenery and a grouping of candles is a can’t-go-wrong look that’s easy to pull off. Here, designer Brian Patrick Flynn piled eucalyptus on the mantel in lieu of the more typical pine or spruce garlands.

Introduce Metallic Accents
Bring a few metallic accessories into your home to replace some of the shine that your Christmas ornaments previously provided. Candles, vases and glassware in gold, silver, copper or bronze will add just the right amount of sparkle to your space.

Hang a Wintry Wreath
Swap your Christmas wreath with an understated door decoration that can stay up all winter long. Stick with natural elements like greenery and pinecones, and steer clear of anything too Christmassy like bows, ornaments or jingle bells. This DIY wood slice wreath is a great option; you can make it with fresh greenery and replace it as it dries out, or use faux greenery that’ll last year after year.

Go Mad for Plaid
Buffalo check, tartan and other plaids are staples of holiday decor, but they can also be used year-round to give your home a classic, cozy feel. Adding plaid pillows and throws is an easy way to incorporate the pattern into your home, but if you’re ready to make a larger commitment, look for furniture upholstered in plaid fabric or even plaid wallpaper.

Put Blankets on Display
A blanket ladder serves two purposes: It instantly cozies up any room and frees up storage space elsewhere for the new goodies you got for Christmas. Build this easy DIY blanket ladder to fill a bare wall with your fluffiest blankets, or shop our favorite blanket ladders.

Pretty Up With Pinecones
Like greenery, pinecones are a popular holiday decoration that don’t scream “Christmas,” so they can be reused throughout the season. Simply fill a clear vase or candleholder with pinecones for an easy table centerpiece, or make a pinecone wreath. If you can’t find the pinecones in your yard, you can purchase them from a craft store.

Store Firewood in Style
Keeping a stash of firewood inside not only makes it convenient to build a roaring fire any time, but it also serves as a warm, rustic accent for your space. Try storing firewood in a woven basket for even more inviting texture, or shop our favorite firewood storage options.

Go All in on Green
While red and green is a decidedly Christmassy color combo, using green on its own can create a woodsy atmosphere in your home that works all winter long. Spruce up your home with accessories in forest, hunter or pine green, or paint your walls in one of these rich hues if you're up for a larger project. A small powder room, like this space designed by Kate Marker Interiors, is a great place to experiment with bold, moody color.

Showcase Winter Sports Gear
Make your home feel like a rustic ski lodge by incorporating winter sports gear into your decor. In this bedroom, designer Brian Patrick Flynn created a unique gallery wall by hanging vintage snow shoes behind the bed.

Create a Coffee Station
A hot cup of coffee, tea or cocoa is so comforting on a cold winter day. Make your beverage routine a little more special by setting up a coffee station on your kitchen countertop or dining room sideboard. Set out a few of your favorite mugs, and organize stirrers, creamers and other essentials in pretty containers. Arrange everything on a nice tray to pull it all together.

Pick Cold-Hardy Plants
Don’t forget your outdoor spaces. Brighten up your porch, deck or patio with cold-hardy potted plants like thread-branch cypress (pictured), Japanese yew or cast iron plant. To ensure your plants will thrive all winter long, pick varieties that can survive a climate one or two zones colder than where you live.

Styling a shelf with vignettes of prized possessions is a prime opportunity to convey your style and personality. Shelves are not only home to books, but family heirlooms, art, photographs and travel mementoes. We’re sharing 10 shelf styling tips that will upgrade how you show off your favorite books and accessories. 

1. Read The Room
Styling a shelf with objects that mirror the textures and color palette of your room creates a cohesive look. This home’s workspace bookshelf has a soft, neutral palette, sculptural shape, natural materials and earthy colors that suit the zen wood shelves and white walls.

2. Add Art
On this Paul McCobb wall unit, art is layered in alongside a TV monitor and coffee table books for color and personality in this Toronto condo.

3. Make Room For Collections
Using a shelf as a platform for a curated collection of artwork and decorative ornaments creates a mini gallery and an intentional viewing arena within the home. In this condo shelf, Debra Campbell displays her collection of limited-edition Barbies, including a Hudson’s Bay Company version (complete with a poodle dressed in a matching coat).

4. Stack Books Horizontally And Vertically
Stacking books in two directions add visual interest. In the two-bedroom Toronto condo of Alessia De Gasperis-Brigante, the singer-songwriter known as Kai, she switches up the orientation of her collection.

5. Add A Little Green
Wood, ceramics, glass and a green plant inject a calming note. For a quieter look, designer Nyla Free turned the book spines inward and removed the covers in this home.

6. ive Objects Room To ‘Breathe’
Resist the temptation to cram shelves so your shelf design doesn’t feel cluttered or overwhelming. Leave some negative space between the groupings.

7. Try Color Blocking
Not only can you color block books, take a chromatic approach to the shelves themselves and paint the interior a contrast hue that highlights the contents. In designer Nathalie Tredgett’s London townhouse, she uses peach as a foil for the dark lavender built-ins.

8. Vary The Height Of Objects
Grouping objects in an array of heights, size, and shape keeps shelves from looking too uniform and creates variety for an appealing design. Include taller objects like large vases or candle sticks.

9. Curate!
The beauty of shelves is that they elevate the everyday object, so treat couture and designer accessories for the art pieces they are. In the wardrobe of this Montreal apartment, iconic fashion finds like Chanel’s quilted bag and cap-toe pumps are easy to access — and appreciate — behind a glass door.

10. Finally, Stand Back
To get an overall sense of compostion, pull back and see how objects balance big items like art or TV monitors. Taking a photo can help reveal if items need to be added or removed, or walk away from the bookshelf and come back later to assess the composition.

Resource: https://houseandhome.com/gallery/re-do-your-shelves-with-these-10-style-tips/#image-11

For most people, buying a home will likely be the most significant investment of their lives. With the emotional and financial aspects tied to purchasing and/or selling a home, it’s important to complete all due diligence to ensure your investment is protected.

This article will explore what conditions are, typical conditions you’ll encounter during the offer process, how they can affect the sale, and what happens if they’re not met.

What is a conditional offer and who benefits from one?
Simply put, “a conditional offer is when a buyer makes an offer on a property that contains conditions,” explains Duncan McDougald, REALTOR® with RE/MAX Executives Realty in Whitemouth, Manitoba. “Conditions are put in place to protect the buyer or seller as both have the right to include them in an offer to purchase. Realistically, conditions can be anything, as long as both parties agree to them. As a REALTOR®, it’s important to know what conditions to recommend to buyers and sellers in various scenarios.”

“Conditions don’t have to be accepted by either party, but if they’re reasonable and there’s no better offer on the table, it’s a very typical part of an ‘accepted conditional offer’, which is the status of a sale when the public sees it as ‘pending,’” he continues.

More often than not, conditions are put in place by the buyer because it facilitates a safety net for them.

“If a buyer’s condition(s) can’t be satisfied, they’re no longer under any legal obligation to move forward with the conditional deal,” explains McDougald.

In an offer, a buyer will include a time frame for their condition(s) to be satisfied. If they’re not satisfied by the end date, the deal becomes null and void unless both parties agree to extend the timeframe or the buyer gives notice that the condition(s) won’t be satisfied. In most cases, the buyer is entitled to a return of their deposit money if the conditions aren’t satisfied, but do keep in mind that there is an obligation to make an effort to satisfy the conditions.

It should also be noted here that “a condition made by either party is for the benefit of that specific party and they’re entitled to waive their condition any time before the condition’s deadline if they feel it’s no longer required,” emphasizes McDougald.

One of a seller’s favourite offers to receive is an unconditional cash offer. If they like the terms, they sign the acceptance and the property is legally sold.

“There are times, however, when an unconditional cash offer is made as part of a lowball offer in hopes it’ll tempt the seller into signing. Sometimes it works, sometimes it doesn’t,” shares McDougald. “As a REALTOR®, it’s also our job to advise in those situations, but it’s ultimately up to the seller as to what they’ll accept.”

Common conditions

There’s a lot to consider beyond the price point of a home, and agreed upon conditions help ensure protection and a smoother sale. These are some of the more common conditions you’ll encounter during a home sale, though they won’t all be present in every offer.

Appraisal contingency

Buyers have the right to request an appraisal of the home to compare its true value to the asking price. If the home is appraised for less than what the seller listed in the contract, the buyer may not be approved for the mortgage asking price, re-negotiations may commence, or the buyer may walk away with their deposit.

Home inspections

While not a legal obligation, one of the most important and highly recommended conditions to include is a home inspection to ensure the property is structurally sound. Though sellers will occasionally foot the bill, home inspections are usually paid for by the buyer with an inspector of their choosing so they feel confident in the results.

Financing

A financing condition or clause lets a seller know the buyer’s offer to purchase the property is conditional on obtaining their financing. The condition affords the buyer time—usually five to seven business days—to confirm their ability to obtain mortgage approval. This protects the buyer in the event the home appraisal comes in low and they’re not approved for the amount offered.

Escape clause

Usually stipulated by the seller, this clause allows the seller to “escape” or terminate the agreement based on a condition. A common use of the escape clause is when a seller has accepted a conditional offer on their home whereby the buyer requires 10 days to secure their financing. If the seller is receiving better offers during this time, the escape clause allows them to provide the original conditional offer 48 hours to complete the sale and if they can’t, the sellers have the right to go with a new buyer.

Land survey review

A survey review differs from a home inspection by way of surveying the grounds the property is on and again, while not required, it’s strongly advised to pay for a qualified, chartered professional to survey the property.

Cleanliness

Who doesn’t want to move into a clean home? This condition specifies the requirement for the home to be professionally cleaned before you move in.

Fixtures and chattels

If you expect to have appliances when moving into the new home it’s important to write it in the contract so you’re not met with an unexpectedly bare home on moving day. Make sure everyone is aware of what’s staying and what’s going.

Always consult your REALTOR®

During the negotiation period, most buyers will have at least a few conditions they present to a seller.

“Buyers and sellers should always discuss conditions with their REALTOR® for their specific purchase or sale and if uncertain, they should never be afraid to obtain sound legal advice from a lawyer,“ insists McDougald.

The conditions you include in your offer will vary depending on your situation, but with the help of a REALTOR® you can make sure you include the ones that make the most sense for you.

Source: https://www.realtor.ca/blog/typical-conditions-youll-encounter-during-a-home-sale/32326/1363