Royal LePage Identifies Top Renovations With the Best Return on Investment

Whether doing-it-yourself or hiring a professional, interior painting, hardwood flooring and kitchen upgrades are amongst top renovations.

If you’ve spent years waking up to wood-panelled walls and soft shag rugs, some home renovations, especially if you’re thinking of selling your home, may be in order.  While some renovations such as updating a kitchen or bathroom may require a trained professional, there are a number of do-it-yourself projects that are sure to increase a home’s resale value.  The Royal LePage Renovations and Returns Survey examines some top renovations that bring the best return on investment (ROI), as compiled by the Royal LePage network.

“Amid today’s competitive real estate market, renovations offer a relatively affordable means to boost the value of a home,” said Lisa da Rocha, vice president, marketing and sales, Royal LePage Real Estate Services.  “Do-it-yourself tasks such as painting walls, changing cupboard knobs or laying new flooring will make a house not only more appealing to buyers, but also offer a great return on investment.”

Reasonable and radical renovations.
From simple aesthetics to washroom overhauls, Royal LePage has identified the top renovations that will increase the equity of a home. The list is ranked in ascending order of cost of project.

• Freshen up:  Adding a new coat of paint can freshen up a house and make the interior look like new – not to mention more spacious. For homeowners looking to sell in the near term, neutral colours are most preferred.

• Floors galore:  Today, hard surfaces are all the rage.  If genuine hardwood exceeds budgets, laminate works well.  Buyers like to see hard floors throughout, so if possible, be sure to lay down laminate in dining rooms and living rooms, and even in bathrooms and bedrooms.

• Lighten up:  Old or standard-grade light fixtures, electrical and light cover plates can easily date a house.  To modernize, add distinct flair to the interior, consider installing new light fixtures.

• Pebble Beach? Well, close:  The old adage, you never get a second chance to make a first impression is extremely true when it comes to selling a home.  To increase curb appeal and entice buyers, ensure front lawns are tidy and gardening is minimal.  While there is no need to go overboard and plant an expensive Japanese Maple, adding some standard shrubs and flowers will make a home more inviting. 

• Stylishly steel:  Similar to the issue with old light fixtures, knobs, fume hoods and backsplashes can make a kitchen seem outdated.  Sleek, stainless steel hardware designs have the biggest and most positive impact on those people looking to buy a home.

• Opening all the right doors: An elegant entrance enhances a prospective buyer’s first impression of the house itself.

• ROI from the ground up:  To see an even higher return on investment, replace old flooring with new hardwood.  While a range of qualities, textures and colours exist, it’s best to opt for a neutral wood colour to accommodate the widest possible array of tastes and décor.

• White picket fence?:  Building a fence and a deck instantly boosts a home’s appeal.  Keeping kids and pets in the yard, and nosey neighbours out, fences provide the back and side yards with a sense of being finished.

• Occupied, no more:  A bathroom situated on the main floor is increasingly seen by homebuyers as an essential fixture in their next purchase.  While many older homes were built with bathrooms only on the second floor, many homeowners are resorting to transforming closets or adding new rooms to accommodate two-piece powder rooms. 

• Exquisite en suite:  Today’s homebuyer prefers bathrooms that have spa-style tubs and modern faucets.  Granite and marble tiles are now readily available and can be purchased at relatively affordable prices.

• Everything, and the kitchen sink:  While prices can vary when renovating a kitchen, one thing is certain – updated kitchens bring one of the highest returns on investment.  With homeowners spending more time in the kitchen than any other room, it’s no surprise they want the best possible style and functionality.  Stainless steel appliances, ceramic sinks and clean lines on cupboards rank as the more preferred finish options.   Since kitchens and baths can be such a personal space, it’s wise not to select a dramatic style or colour scheme since your tastes may not be the same as the next owner.

Top ‘do it yourself’ renovations with best return on investment

RENOVATION PROJECT	APPROXIMATE COST*	APPROXIMATE ROI**
Paint the interior	$1,000	50-100%
Replace carpeting with affordable laminate	$2,000 (for 1,000 square foot space)	50-75%
Install new light fixtures	$2,000	60-70%
Groom the exterior landscape	$2,000	25-50%
Replace knobs and hardware	$2,000	75-100%
Update the entryway	$3,000	50-75%
Replace carpeting and laminate floors with hardwood	$5,000 (for 1,000 square foot space)	50-75%
Build a fence/deck	$5,000	50-75%

Renovations with best return on investment, some help may be required

RENOVATION PROJECT	APPROXIMATE COST*	APPROXIMATE ROI**
Install an additional bathroom on main floor	Under $5,000	80-100%
Renovate bathrooms	$5,000- $8,000	75-100%
Renovate kitchen	$12,000 - $15,000	75-100%

Notes:
*Assumes mid-grade quality finishes, labour excluded
** Source: Appraisal Institute of Canada RENOVA, Royal LePage
For more information visit www.royallepage.ca and click Press Releases.

Real Estate Advice: Offers

Making an Offer

When it comes time to make an offer you will require current market information and assistance in drafting your offer. You will need a Real Estate Professional.
A Real Estate Professional will communicate your Offer to Purchase to the seller, or the seller's representative, on your behalf. Sometimes there may be more than one offer on a property at the same time. A Real Estate Professional can guide you through this process.

Firm Offer to Purchase

Usually preferable to the seller because it means buyers are prepared to purchase the home without any conditions.

Conditional Offer to Purchase

Usually means there are one or more conditions on the purchase, such as "subject to home inspection", "subject to financing" or "subject to sale of buyer's existing home". The home is not sold until all the conditions have been met.

Acceptance of Offer

An Offer to Purchase is presented to a seller who may accept the offer, reject it, or submit a counter-offer. The counter-offer may be in reference to the price, closing date, or any number of variables. Offers can go back and forth until both parties have agreed to terms or either side ends the negotiations.

Tips on How to Use Your Home as an Income Property

An income property is a home that is bought or developed in order to generate income, typically by renting it out in part or in its entirety.  Using your home as an income property can be a financially rewarding experience, either to provide extra income, or to help you pay off your mortgage.
Before taking action it is important to understand some of the key points involved in using your home as an income property.

Some things to consider before you start

1. Check the Municipal regulations – are you legally permitted to turn your home into an income property? Would the unit adhere to all existing building and fire codes?
2. Financial considerations - does your home require renovations to make it tenant ready? If yes, do you require financing? Has your bank pre- approved you for a loan?
3. Legal Considerations - make sure you understand the landlord – tenant relationship regulations in your province. This will have a great impact on what you can and cannot do as a landlord.

After your initial research, there are a few things you can do to make your property more attractive to potential tenants.

1. Your home should look clean and tidy inside and out. This will bring more renters through your property and you will have a more receptive audience
2. Update your home if necessary. From simple changes such as fresh paint in a neutral color to major renovations, try and make your home look and feel as spacious, bright and comfortable as possible.

When you’re ready to rent, price and market your unit competitively.  Scan the classifieds and visit rental websites to find out how much similar units are being listed for.  You can also ask your Royal LePage agent for pricing advice or to help you find the right tenants through a listing.

Summary:

There is a lot to consider when turning your home into an income property. While it may seem daunting from the outset, doing sufficient research to understand what is involved is key to making it work on your terms. If you can turn your home into a successful rental property, it can be very rewarding - you‘ll have an extra source of income and tenants can help pay off your mortgage!

SUPPORT CAMP OOCHIGEAS TODAY!

I will be participating in the 2013 Sporting Life 10K on Sunday, May 12 and I am raising funds to help send a child with cancer to Camp Oochigeas. Camp 'Ooch' lets children with cancer focus on who they are instead of what they have by providing fun and meaningful experiences at no cost to their families. Please help me to make a difference in the lives of children affected by childhood cancer. Cancer changes a child's life, but so does camp. Thank you for your support! I have raised over $500.00 so far - if you would like to donate, please visit; http://www.ooch.org/denniswelsh

Demystifying Mortgages

How Much Can You Borrow?

A home is typically the largest purchase you will make in your lifetime, and for most Canadians this means obtaining a mortgage. The amount of your mortgage will determine the size and location of your new home - not to mention the size of your payments. So how do lending institutions decide how large your mortgage loan can be?

Lending institutions (such as banks, credit unions, trust companies and insurance companies) want to be certain that you are capable of repaying the money you borrow. Consequently, the loan application process is thorough. Lenders consider your income, credit history, debt load, employment history and collateral, including the value of the property you wish to buy.

Although there is some discretion in determining the exact amount, the size of your loan is generally calculated using set formulas - Gross Debt Service Ratio (GDS) and Total Debt Service Ratio (TDS). GDS is the percentage of your gross monthly income (before taxes) required to cover monthly payments on mortgage principal, mortgage interest, property taxes and sometimes heating (often abbreviated as PITH). Your GDS should not exceed 30% to 32% to be eligible for most mortgages. Because many people also owe money to other lenders (car loan, student loan, credit cards, etc.), TDS offers a more accurate estimate of what you can afford. TDS is the percentage of your gross monthly income required to cover PITH plus any other debts. Your TDS should not exceed 40% of your gross monthly income.

There are many other factors that will impact the final mortgage amount. A poor credit history or a spotty employment record, for example, can disqualify you altogether or significantly alter the total. Keep in mind that just because a lender is willing to approve a large mortgage it is no guarantee that you can, in reality, afford the monthly payments.

To truly understand how much you can afford you must examine your other monthly expenses - those not accounted for in the lender's calculations (such as entertainment, charities, vacations, etc.). Remember that you will also need a lump sum down payment (at least 25% for conventional mortgages and as little as 5% for high-ratio mortgages) and money to cover closing costs. For more information on mortgages, calculators and online applications, visit:
http://www.denniswelsh.ca/mortgagecalculator

Tips for Moving

Moving can be an exciting and overwhelming experience. There is a lot to remember when planning your move, but with some organization your experience can be a lot less stressful.

A Few Weeks Prior to Moving:

1. Arrange your moving day well in advance – When booking a truck or hiring a moving company, it’s often worth comparing several estimates. Your Royal LePage agent can provide you with some referrals for local and national movers. 
2. Re- direct your essential services to your new home; arrange to have services such as gas, electricity, and cable TV to be connected on the day the sale closes.
3. At your current home, arrange to have your gas, water, and electricity meters read on the day you leave and have the bills forwarded to your new address. If necessary, water heater and furnace rental agreements should to be transferred to the purchaser.
4. Update your contact information and provide a forwarding address for schools, work, and services such as banks or insurance companies
5. Also, don’t forget to make arrangements for pet or baby sitters for the day of the move.

Days Prior to Moving

1. Gather all important personal, medical and insurance documents and keep them separate from other moving items
2. Pack valuables and any personal items that you will require in the interim of your house being unpacked.
3. Make sure to pack and label items by a theme, such as kitchen or bathroom, so you can easily get organized when unpacking

Day of the Move

1. If you are using a moving company make a list of all items to be moved and compare it to the movers to make sure you agree on contents to be delivered
2. Check all shelves, closets and cupboards for any items that may have been left behind

After the Move

1. Apply for a new drivers license, health card or other items that require an up to date address
2. Register your car at your new address. Your insurance company will have a limited time grace period so make sure you register before the deadline
3. Check open and closing hours of stores and services in your new neighborhood. This will help you feel settled earlier

Moving can be difficult, but with careful planning your move can go smoothly so that you can start enjoying your new home right away.

Your Place in the Past: Researching the History of Your Home

Who lived in your home before you did? What’s the history of your condo conversion? What was the land used for before your house was there? 

If the answers to those questions intrigue you, you may want to research the history of your house, building or the land it’s on. You may be surprised at the interesting information you uncover. Here are a few ideas to help you get your research started:

Check the structure, style and materials of your home.
Style can give you a rough sense of when it was built. Look for original hardware, wallpaper or flooring for further clues. If you’re renovating, check inside the walls for old newspapers, which were often used as insulation.

Open up your filing cabinet.
Your deed, assessment notice, and tax bill can give you clues about the history of your property.

Talk to your neighbours.
Long-time area residents are a great resource. Talk to them – they’ll probably enjoy sharing their memories. Find out if they have old photos of the neighbourhood. You can even track down the former owners of the house and see if they’re willing to chat.
If you live in a newer neighbourhood, check if there’s an older house nestled in among the newly built ones. Talk to the owners – they may have insights into the neighbourhood and the people who once owned the land where your house now stands.

Look online.
Google your street name or neighbourhood. You could find old photos, information about former residents, and details about the properties in your area.
If you own a recently built house or condo, visit to your developer’s website or contact them directly. Condos that have been converted from heritage buildings often include information on the building’s history. You may also find information on suburban developments built on former farms, and urban infill projects may have some interesting history as well.

Visit your local library, archive or museum.
Look for information about your neighbourhood as well as your house or building. Check these resources:

a. Fire insurance plans. Includes info about the date a house or building was built, modified or demolished, what materials were used and the lot size and shape.
b. Property tax assessment rolls. Contain the name and occupation of the owner(s) at time of assessment, as well as a list of occupants, a description of the property and its assessed value.
c. City directories. Listings include the name and occupation of the owner(s).
d. Photographs. Look for images of your home, street or land, or aerial photos of your neighbourhood.
Also look for census record, building permits, and voters lists. Talk to the people that work in the library, museum or archive – they may know about great local resources not mentioned here.

Call the land registry office.
They can tell you how to search for titles to your property, which indicate who built your home and who has owned it over the years.

Finding about your home’s past can be a fun challenge – learning about your property and the people who lived or worked there before you is a great way to get a sense of history, find details to make your restoration historically accurate, get to know your neighbours, and appreciate your home in a whole new way.

Holding a Successful Open House

Most sales representatives will suggest a number of ways to market your home; however, if your agent has decided an open house would be advantageous, here are some suggestions to help make your open house successful.

There are four steps to follow for a successful Open House. The first three are planning, promotion and presentation. Once you've done all that, the only step remaining is to cross your fingers and hope for good weather!

As with most things in real estate, planning is critical to your success. Check your calendar and pick a date that won't conflict with other events that could divert your potential visitors. You won't get many home browsers on Super Bowl Sunday or Mother's Day! Ask your real estate professional for advice on how to showcase your home to its best advantage. Remember, when it comes to showing appeal less is more. You want to create an atmosphere of spaciousness. Get rid of the clutter to maximize your space. Have a garage sale, empty the closets and take the time to give those things away to charity. Besides making your home look great for showing, it'll give you less to do on moving day.

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Bored with your Headboard? Awaken Your Imagination

The bed is the centerpiece of almost every bedroom.  It takes up the most room, it’s where your eye is naturally drawn to, and it’s the place where you spend a third of your day.  Yet despite all the attention on beds, headboards are often humdrum, predictable pieces of furniture.  So why not add some style and personality to your headboard?  All you need is a little imagination.  Here are a few ideas to get you thinking:


Fabulous Fabric
Fabric is a great way to add intrigue to the focal point of your bedroom.  Instead of a standard headboard, consider hanging a family quilt on a curtain rod for a quaint, farmhouse effect. Even a striking curtain can extend the eye upwards and bring your bedroom style to new heights.  Or add some panache with a few decorative hooks.

Right Frame of Mind
A framed piece of appealing art can add vertical interest above any bed.  Consider a series of framed photographs to help personalize your bedroom, and emphasize them with subtle wall lighting.  Go for glamour with a framed antique mirror that can also help create the impression of extra space.

Shabby Chic
If you’re going for a look that mixes urban trend with a traditional tone, think shabby chic. Old doors, window shutters, mantle pieces, and uneven planks of wood can all be repurposed into vintage-looking headboards.  Either refinish wood with its natural colour or use light blues, browns, or whites to create a dreamy combination of rustic and elegance.
 
Artsy, Optical Illusion
Want to really think outside the box-spring? Why not create a new headboard right on the wall?  Great for kids rooms, guest rooms, or just to save space, simply paint a faux headboard on the wall in a colour that stands out.  Get even more creative with chalk paint and draw yourself a new headboard whenever you wish!

With the right mix of imaginative colour, design, and style, you’ll have the bedroom of your dreams!

If you are thinking about selling, contact Dennis to help with staging your home: 416-229-4454

Tips for Renovating Your Basement

Want to add more space to your home without building up or out?  Look no further than your basement.  According to the Appraisal Institute of Canada, renovating a basement can give you a 50-75% return on your investment when it comes to selling your home.

Here’s how to get it done right:

Start with a plan
What type of space does your family require?  Is it an extra living space for your teenager, a playroom for the little one, or perhaps an entertainment area for all to enjoy?  Once you decide on how you want to utilize the space, you can layout your design.  If budget allows, an architect or interior designer could assist you with the layout design and make valuable suggestions. 

Do it yourself or hire a professional
Depending on your skill set, budget, and time, you may want to enlist the services of a contractor who has the expertise required to finish a basement.  If you do it yourself and don't have the required time or skill to do the job correctly, you may find yourself looking at a repair bill far exceeding the amount you originally thought the project would cost.  Make an informed decision.  Be sure to carefully weigh all factors when deciding which option is right for you, while considering costs, material, labour, and equipment requirements.


Framing
Framing basement walls and ceilings is one of the most important aspects of any basement renovation. Two popular wall framing options are wood or steel studs. Wood is the classic choice.  It is versatile, easy to work with, and cost-effective.  Whereas steel, although more costly, adds a level of strength, rot resistance and won’t warp and crack like wood might over time.  Two popular ceiling framing options are dropped ceiling tiles or drywall. Dropped ceiling tiles provide easy access to pipes and wires which can be a saviour if a tub or toilet on the main level floor springs a leak.  Alternatively, dry wall ceilings offer a smooth finish and require less vertical space – a great option if your basement ceiling height is already low.


Flooring
There are plenty of basement flooring choices to choose from including laminate, linoleum, vinyl, wood and ceramic tiles.  Be sure to match your flooring choice with the intended use of the space and your geographic location.  For example, a game room may require more durable flooring than an office.  Do you live in an area with a tendency for flooding or is your location dry?  Carpet with high density under pad will offer cushion and moisture protection from the typical condensation found in basements.  Engineered hardwood made for below grade installation will flex and handle moisture better than traditional hardwood. Ceramic tile is great for bathrooms and laundry rooms and is easy to install on concrete.

Add a bathroom
Installing a bathroom in the basement is a great way to add value to your home.  Determine if you require a full bathroom or if a powder room will suffice.  Powder rooms are relatively simple to install, easy to keep clean, and won’t take up too much room.  Full three or four piece bathrooms can provide a comfortable, private, and even luxurious, space for overnight visitors to enjoy. With either option, time and costs can be reduced if bathroom fixtures are located near existing plumbing and are arranged in a line on one wall.  Be sure to check local codes for plumbing and electrical aspects of your project.


Add storage
No matter what kind of plan you come up with for your basement, remember to factor in plenty of closet or storage space.  This will enable you to de-clutter the rest of your home to keep it tidy and inviting.  Further, if you ever decide to move, having this extra storage space should appeal to just about any prospective buyer.
A finished basement can not only increase your home enjoyment but it can also add valuable square footage.  From everyday living to financial value, finished basements provide many benefits to you as a homeowner.

Roll Out a New Rug

Using Area Rugs to Refresh Your Rooms Spring has sprung, and home improvement thoughts have begun.  If you’re looking for a simple, affordable way to spruce up a room, the solution might be right under your feet.  The right rug can help provide comfort, protect your floors, and tie your room together. 

Here are a few tips to get that “rugged” look:

Size it Up
As a rule, choose a rug that’s at least two feet shorter than the smallest wall in the room.  For example, if the dimensions of your room are 10’ x 12’, look for a rug no more than 8’ wide as leaving a little space at the walls will make the room appear bigger. Alternatively, use your furniture layout as a guide and ensure the front two legs of chairs and sofas sit on the rug, but not on the back, to optimize circulation flow.

Select Your Volume
An area rug can help quiet a room’s décor, or turn up its volume.  Use neutral colours such as beige, ivory, taupe, or gray to put more focus on your furniture and any artwork.  Or step outside your decorating comfort zone and opt for a bold colour or striking pattern to make it the focal point of the room.

Get Functional
Area rugs can freshen up interior design, but they also have a practical purpose.  Rugs are usually more cost-effective than carpeting and will keep your flooring in pristine condition.  Rugs provide a warm cushion on your feet in the winter, and can help lessen the strain put on the back and joints.  In the living room, a rug also deadens television or stereo noise from the rest of the house.

Family Friendly
You want a well-designed rug, but you also want one designed for your lifestyle.  Any rug placed in a high traffic area with kids or pets is going to get its fair share of wear and tear.  Consider a wool rug that cleans easily or a heavily patterned rug that can help hide stains and spills.  A modular style tile rug will even let you remove and wash individual squares or replace them altogether.

Think Outside the Rectangle
For larger rooms, create and define your space with two or three separate rugs that coordinate and complement each other while visually separating a sitting space from an office or dining space.  Contrast hard lines and angular furniture with oval or circular rugs.  And if you have a particularly beautiful rug that you don’t want worn down, consider hanging it on the wall for all to see.

The ROI of Home Renovations

Little Improvements = Big Returns

It's always a good idea to spruce up the exterior and interior of your home before listing it for sale. But that doesn't mean you have to undertake major and/or expensive project.

Just a little effort will greatly increase the perceived value of your home. After all, if you wanted to undertake a large-scale project, you probably wouldn't be selling!

Click here to get some simple steps you can take to increase the perceived value of your home and make a great first impression.

Trying to sell your own home?

14 IMPORTANT FACTS TO CONSIDER BEFORE YOU TRY TO SELL YOUR OWN HOME 

Occasionally, one can see "For Sale By Owner" signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Real Estate sales professional. Before you decide to take on this very important and legally complicated process…remember not even most Real Estate Lawyer's recommend selling your own home yourself in today's market. Here are a few of the reasons why:

1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market.

2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long... there must be something wrong with the home.

3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor... and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own…they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome buyers remorse--a very common occurrence.

4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home… selling means exposure. You need the maximum exposure possible, to generate the highest price possible.

5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.

6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.

7. The majority of qualified buyers are working with experienced real estate professionals.

8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.

9. As most local buyers now retain an experienced real estate sales person to represent them as their buyer-agency, you will probably be negotiating against an experienced professional.

10. Expected savings in broker's fees will also be greatly reduced if you offer a selling commission to entice real estate sales representatives to bring potential buyers.

11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's fees will be considerably higher.

12. Only real estate sales representatives have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to real estate sales people. Further, real estate sales representatives are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.

13. You only pay the commission to the real estate broker, if they successfully sell your home at the price you are happy with.

14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the Buyers and Sellers Lawyer's to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional, can be the most important. Your Real Estate professional can act as a great mediator. Lawyers MUST act only on their client's instructions and are not paid to negotiate.

Spring Has Sprung a Leaky Roof

That gentle spring rain is great for your garden, but it's not so nice when you're dealing with a leaky roof. If you've noticed peeling wallpaper, cracked paint, stains on the ceiling or actual drips that you have to catch in buckets or pots, you need to think about fixing your roof.


A few things you should know about roof repairs: 

The best-case scenario is that a section of your roof will require patching or repair. The worst-case scenario is an expensive recovering or replacement of your entire roof. When determining which scenario applies to your roof, interview some quality roofing professionals and consider these facts:

• A roof needs to be replaced every 20 to 30 years, on average, depending on materials, installation, weather and maintenance
•   Finding the source of a leak can be challenging, even for roofing pros, and repairs can get pricey if you have to keep calling them back for additional fixes

When a new roof is your only option:

Your chosen roofing professional has advised you need a new roof. Now, you have a number of new questions to answer:

1. Replace or recover? Outright replacement means tearing off the roof and installing a new one. Recovering involves installing new shingles over an existing roof. Depending on building code in your area, you may not be allowed more than one roof recovering before a complete replacement is necessary
2. What materials do you want to use? While most people choose cost-effective asphalt shingles, which come in a variety of grades and colours. You can also choose shingles made of wood, ceramic, slate, metal, or synthetics made to look like slate or wood
3. How's your attic ventilation? Proper ventilation can save energy, prevent structural damage caused by moisture, prolong the life of your roof, and make your home more comfortable. 
4. Have your roofing professional check it out before any works begins. 

Once your new roof is installed, maintain it diligently. Inspect it every spring and fall, as poor maintenance is the leading cause of damage and leaks. Replace damaged shingles and take note of sagging or other damage. Careful maintenance of a new roof will keep you and your family leak-free and happy - at least for the next 20 to 30 years.

I am looking at this property: Condo Apt - 3 1 bedroom(s) - Toronto - $16,650,000

I am looking at this property: Condo Apt - 3 1 bedroom(s) - Toronto - $16,650,000

Pricing Strategy

Pricing Your Property

The single most important decision you will make with your Real Estate Professional is determining the right asking price for your property.

Once you've achieved a realistic sales price, you can count on your property being professionally marketed and promoted to bring more buyers to your door. You can also expect to sell your home for the best possible price in the least amount of time.

The Benefits of Pricing Right

1. Your property sells faster because it is exposed to more qualified buyers.
2. Your home doesn't lose its "marketability."
3. The closer to market value, the higher the offers.
4. A well-priced property can generate competing offers.
5. Real Estate Professionals will be enthusiastic about presenting your property to buyers.

Find Out What Your Home Is Worth

For a current market analysis of your home please feel free to take advantage of a Free Home Evaluation.

Preventing Violence in Our Communities

As your lives evolve and your needs change, Royal LePage real estate professionals are there to help you buy and sell your homes. We're dedicated to providing great service to our clients, but also to helping the people in our communities. One way that Royal LePage gives back is by providing shelter to women and children fleeing violence. Every year the Royal LePage Shelter Foundation helps 150 shelters provide a safe haven and a new beginning for over 30,000 families.

We also work hard to prevent domestic violence from happening in the first place. The Royal LePage Shelter Foundation is proud to sponsor the Fourth R Program, a school curriculum initiative that promotes healthy relationship skills. (R stands for relationships.) It includes exercises that help prevent violence and teaches students to avoid risky sexual practices and substance abuse.

The Shelter Foundation is the Fourth R program's first major sponsor. Our donation of $1 million will help bring the program to 340 schools across seven provinces.

One family, one home and one school at a time, we are helping to create safer homes and safer communities.

For more information about the Fourth R, visit www.thefourthr.ca. If you would like to make a donation to help us bring the program to even more schools, please visit www.royallepage.ca/donations.

Royal LePage Shelter Foundation
www.royallepage.ca/shelter

Who Would Live in These Homes? via The Ellen Show

Prepping Before Painting is Paramount

An essential part of a painting project happens before you ever lay a brush or roller on the wall. The key is preparation.  Put in a little time and effort beforehand, and you’ll be rewarded with a professional looking finish afterwards.  Here are a few steps to ensure proper painting prep:

Patch & Repair
Fill small holes and hairline cracks with patching compound and sand when dry.  For larger holes, apply the compound in layers, making sure each layer is dry before applying the next.  For badly damaged plaster walls, apply a thin coat of plaster on top of the existing one by skimming, to achieve a nice, smooth finish.  Skimming is a bit of an art form, so don’t hesitate to get help from a professional plasterer.

A Clean “Canvas” is Critical
Just as you wouldn’t paint a picture on a dirty canvas, you don’t want to paint a room with dirty walls.  Remove dirt and marks by washing with mild detergent and water; grease marks with Trisodium phosphate (TSP); and floor wax build-up on baseboards with wax remover.  Mildew in damp areas such as bathrooms should be addressed and removed entirely.  Many find a solution of one part household bleach to three parts water works well.  Vacuum textured walls and ceilings to get rid of dust and cobwebs.

Prime the Walls
Paint primers help to ensure a professional-looking paint job. It increases the bond between the paint and the surface and it is particularly helpful to cover surfaces painted with semi-gloss or high gloss paints or bare surfaces such as wood, plaster or drywall. If you are painting with a deep colour, ask your local paint store to tint your primer with your paint colour. This technique will enable you to cover your walls quicker and with less paint.

Don’t Forget about the Outside!
Our outside walls don’t usually undergo the same scrutiny as our inside walls do, but spring is a great time to think outside the house!  Start by removing loose, peeling paint or dirt with a wire brush or power washer and repair and sand as needed.  Good quality surface preparation provides maximum durability, a must for outside paintwork. 

A fresh coat of paint can really improve the curb appeal of your home, and proper preparation will ensure the best return on your investment.

Thinking about selling your home? Call Dennis Welsh for a Free Home Evaluation today: 416-229-4454.

Selling Your Home

Choosing a REALTOR®

As a seller, your relationship with a REALTOR® is vital so meet with several before making a final decision. A good place to start is right in your neighbourhood. Check FOR SALE signs to see which REALTORS® are doing business in your area. Ask them about their track record, their knowledge of neighbourhood selling prices and other reasons why you should list with them. Choose a REALTOR® you feel comfortable with; one who will handle the sale of your home as if it were his or her own.

What to Expect

Your REALTOR® will help you understand the selling process. He or she will provide you with a full explanation of what to expect so you are not faced with any surprises along the way.

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Real Estate: Land Transfer Tax

Land Transfer Tax

Purchasers in most large Canadian centres can add Land Transfer Taxes to their list of closing costs.

Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are a basic fact of life. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from a half a per cent to two per cent of the total value of the property.

Many provinces have multi-tiered taxation systems that can prove complicated. If you purchase a property for $260,000 in Ontario, for example, .5 per cent is charged on the first $55,000, 1 per cent is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5 per cent. Your total tax bill? $2,375.00.

Click here for a list that shows Land Transfer Taxes by province.

Real Estate: Closing Costs

Closing costs are a list of charges your lawyer presents to you on the closing date of your home. Many people are surprised at the additional costs over and above the price of the home. According to the CMHC and Genworth Financial you should have at least 1.5% of the purchase price for closing costs in addition to the down payment (have around 2.5% to be on the safe side). The costs vary among provinces and cities.

Below you will find a brief explanation of these costs. Please note these are some of the closing costs you may encounter depending on your specific situation. Use this as a guideline then talk with your lawyer who can provide a more realistic estimate for your situation.

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This Real Estate is Really Real via The Ellen Show

NEW: EXCLUSIVE LISTING

1 BEDROOM + DEN CONDO

$312,000.00

EXCLUSIVE LISTING: 1 bedroom condo + den, 610 sq ft w/ 100 sq ft terrace, $312,000 incl. parking & locker.

This suite is appointed with 9-foot ceilings and offers great nature and city views through floor-to-ceiling windows. It is within walking distance, to Edwards Gardens, Sunnybrook Park & close to all the modern urban amenities you could want: cinemas, Leaside shopping centres, and shops on Bayview Avenue. The suite is appointed with granite counter tops and five appliances. Easy access via that new Eglinton LRT line and close to the Don Valley Parkway -- this property is perfect for all ages.

MAINTENANCE FEES: $359
OCCUPANCY: APRIL 15, 2013
TAXES: Have not been assessed yet.

For more information or to book an appointment, please call, Dennis Welsh 416-229-4454.

OPEN HOUSE: 833 KING ST W #TORONTO

OPEN HOUSE 2:00 to 4:00 PM

833 King St W, #507

Niagara
Toronto, ON

$468,000
For Sale
MLS© ID: C2585487

Property Features

• Bedroom(s): 1
• Bathroom(s): 1
  • 4 piece : 1 total
• Kitchen(s): 1
• Approx. square footage: 800-899
• Estimated annual taxes: $2,321.31
• Maintenance Fees: $430.28
• Amenities: Recreation Room, Rooftop Deck/Garden, Visitor Parking

• Exterior: Brick
• Living style: Apartment
• Parking spaces total: 1
• Property type: Condo Apt
• Air Conditioning
• Working Fireplace(s)

OPEN HOUSE FLYER >>> http://www.royallepagemc.ca/69/66469/466923/466923.ipv

Stunning, South facing, Perfume Factory Loft w/ balcony located In the Prime King West neighbourhood. The open concept design offers 10' concrete ceilings & an amazing flow between the kitchen, dining room & living Room creating a great entertaining space. The living room features a gas fireplace & high- end custom built-in cabinetry. The master bedroom has a custom built-in closet. Kitchen Has Granite counters & upgraded fixtures.  The building has a great outdoor patio space for BBQs.  Includes: Fridge, Stove, B/I Dishwasher, Stacked Washer/Dryer, All Elfs & Built-Ins. Exclusions: Bathroom Med Cabinet.

 

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Brokered By: Royal LePage Partners Realty, Brokerage (Independently Owned and Operated)